All Forum Posts by: Kar Sun
Kar Sun has started 20 posts and replied 364 times.
Post: Newbie trying to figure out if I should sell?
- Posts 374
- Votes 273
sell
Quote from @Joe Villeneuve:
Quote from @Kar Sun:
Quote from @Joe Villeneuve:
Quote from @Kar Sun:
You need to do what is best for you and no one here can give you the right answer. if you are planning to stay in your primary residence forever and if you really do not care as much about rentals anymore that might be a good reason. Especially if the rentals require a lot of work. I do not believe this is just numbers issue. This is also quality of life issue. If you sell the rentals and if they appreciated then I would put all that money into your primary residence and pay it off sooner. I would stop thinking that this is going to put you behind on acquiring more rental units. No need to become orthodox/neurotically driven about these kind of things. Sometimes you have to chose what is best for you.
Oh please. This is just your opinion. You just like pushing your points from post to post.
Opinion based on numbers...thus facts as interpreted by me, and explained by me to show the connection between the numerical facts and the question posed here. So yes, it's my opinion...like everyone else gives here. Kind of like your's above, except mine is based on.....
Ok Joe. I am glad that numbers give you a piece of mind and that you take pride in knowing them. Good for you.
Post: Using a HELOC to pay off my home quickly.
- Posts 374
- Votes 273
Quote from @Blake Schreckhise:
Just heard about a friend of a friend who is using a HELOC with the intention of paying off his home quickly. The basic idea is that you use a HELOC to pay off your original mortgage. Then instead of having your free cash just sit in a savings account making hardly any interest for you, you would sink most of it into paying off the HELOC. From there you would use the HELOC to pay for your living expenses while continuing to put your income into the HELOC.
Trying to explain that quickly, so hope it makes sense. But the basic idea is to lower the amount of principal that you have to pay interest on while you still have access to draw those funds back out to use if necessary.
If you've had any experience with this tactic could you weigh in with the positives and the negatives. It took me a while to understand what was happening but after I got it, it seems to make sense on paper.
No Experience with it yet. But I will probably do it. HELOC is like a credit card. So as I pay the balance on my mortgage I can tap into it for any other needs because saving accounts offer nothing. However, many banks have stopped doing HELOCs.
I personally do not believe in 401K. They do not allow you to grow wealth. You will have to pay penalty if you are below a certain age and required distribution. As far as I can see 401K lock the money away from you. I could care less about employer matching. If you not in ROTH IRA you will end up paying astronomical taxes in a future that will eat up any matching your employee did. 401K are a no no in my life. Why else would the corporations be so eager to offer them to you? Of course, to keep you away from your money. And money today is always better than money tomorrow. Savers are losers in investment world.
Quote from @Joe Villeneuve:
Quote from @Kar Sun:
You need to do what is best for you and no one here can give you the right answer. if you are planning to stay in your primary residence forever and if you really do not care as much about rentals anymore that might be a good reason. Especially if the rentals require a lot of work. I do not believe this is just numbers issue. This is also quality of life issue. If you sell the rentals and if they appreciated then I would put all that money into your primary residence and pay it off sooner. I would stop thinking that this is going to put you behind on acquiring more rental units. No need to become orthodox/neurotically driven about these kind of things. Sometimes you have to chose what is best for you.
Oh please. This is just your opinion. You just like pushing your points from post to post.
Post: Buying a house without a realtor
- Posts 374
- Votes 273
you can do it. get the title company. if you can communicate friendly and professionally you do not need a realtor.
You need to do what is best for you and no one here can give you the right answer. if you are planning to stay in your primary residence forever and if you really do not care as much about rentals anymore that might be a good reason. Especially if the rentals require a lot of work. I do not believe this is just numbers issue. This is also quality of life issue. If you sell the rentals and if they appreciated then I would put all that money into your primary residence and pay it off sooner. I would stop thinking that this is going to put you behind on acquiring more rental units. No need to become orthodox/neurotically driven about these kind of things. Sometimes you have to chose what is best for you.
Post: Can I retire like this? (3.2 million net worth)
- Posts 374
- Votes 273
1 million in liquid cash on hands is not a good thing. With the exiting inflation at about 20% or more (not 5% or 7% in official statistics) you are losing in purchasing power. Unless you are a business required to have cash reserves I would never recommend an individual to have this much cash, especially now. I have a few doubts about your story. Being 40 is not like being 20.
Post: Negative grade on driveway making a lake. Suggestions needed
- Posts 374
- Votes 273
dig a trench and install channel and trench drain systems. the water will need to have a lower point to drain to and away from the property.
Post: Which strategy works best for the current market condition?
- Posts 374
- Votes 273
Quote from @Jonathan R McLaughlin:
@Kar Sun sure we have. Affordability of buying a house is about 4 times income in most markets, which is hovering around it’s historical marker. It takes 2 incomes to do what one used to do, but they are doing it. condos have entered the market to replace 3 bed 1 bath starter homes they haven’t built in 50 years. And increAsingly luxury buyers want those.The gig economy has been very very good to knowledge workers with salaries that can afford the prices and inventory is low. We need a little cooling off and interest rates have a looong way to climb before they do real damage.
The two biggest generations in American history (millennials and boomers) are both buying right now and inventory is low. hard to see a crisis in rising rates.
Existing inventory is low because many people, based on where I am, are staying put and not house hopping like in the past. New inventory on the outskirts is available. Lumber is way up. Quality is way down. Boomers and millennials are about it. Who else is there? The sky is blue the grass is green.