All Forum Posts by: Colin Reid

#4 suggests you're buying it to live in, at least initially. That makes it way easier. Just tell them you're buying a home.

I think you can use the BP calculators a few times for free. I cross-check the BP Calc results with the "HOLD Sheet," a spreadsheet calculator from "HOLD," by Gary Keller, et al(Strongly recommend the book if you're wanting to do more buy-and-hold investing). I like the spreadsheet because I can modify it to my needs, and I only had to pay for it once (came with the book), but it doesn't show all the same things the BP Calc does, so I use both.

@Johnathan Walton, I'm being completely serious when I say I like your plan. A 6 month difference isn't that big, so I wouldn't sell the car, either. 

 That's not factoring in opportunity cost. If that money could be invested elsewhere for a higher rate of return, then you're losing by paying it off. At the rates for the last 10+ years I've owned property, it makes no sense to pay early. 

Welcome, Jake!

I'm not new, but I'm definitely not experienced yet, recently moved to the TB Area.

What have you employed yourself doing until now?

What could you make if you invested the $100k in another property? I'd be trying to find another deal that cashflows like that. Then I'd be trying to pull the equity out of both of them to find another one or two.

I'd pay it all off, even though I didn't do it that way. I bought my first house with a VA while I still had a car loan. That loan was at 2.2%, so it didn't make much sense to pay it off. Yours is a lot higher rate, so knock that personal loan out at least. The car loan is high, but not credit card high.

@Joe Villeneuve What have you been reading? And when is your book coming out? I want to read all of it. 

That's a cool idea! Let us know how it goes.

I see a high rate of false positives on it. I haven't had such a bin in a long time (alley dumpsters), but I routinely forgot to put it out, even when it was full. It wouldn't be crazy for you to drive past my house 3 weeks in a row and not see it at the curb. Most of the time I'd realize it when I passed the garbage truck on my way to work.

After you get your initial list, you could refine it by seeing which houses had cans at all. Most people in my old neighborhood left them outside next to the garage. If no one had an account at that address for long enough, the city would remove the cans. Cross-reference the houses that didn't put them out with the ones where you can't even see any cans.

I have no idea, but I'm interested. I travel through Dubai periodically for work, and I feel like I can't afford anything in that city. I also have a friend that works in Abu Dhabi, and he made it sound like getting loans is much easier in the Emirates than the US.

Best of luck, and I'm going to follow this thread out of pure curiosity.