All Forum Posts by: Victor S.

Ami, another option that we haven't discussed is 401k borrowing. I assume both of you contribute. Markets look pretty much topped out at this point, imho. When you borrow from your 401k, you are paying yourself back. Nobody else. One question. What is your interest rate on the $40k+ cc debt at this point?

Just to clarify, the room this thing is sitting in is not the bedroom itself, but its extension. Bedroom is behind from where I was taking this picture. 

@Natalie Vane,, I have a half bath in the master (behind from where the pic has been taken) and a full stand-alone bathroom.

Hi, all. I've bought my primary residence back in December of 2016 and have been updating the property since (funky layout lol). I have a question about a tub that I have in my master bedroom. It's sitting in its own space and is not near the bed (see picture). Does it count as a 1/4 bath? I have a full bathroom and a half bathroom (also in the master) in the house. Appreciate it!

re: Troy Fisher's response. I, too, was wondering where the $6.5k figure comes from.

I'd say, both you and your wife need to open up 2 new CC accounts (unless you get qualified for 1 at 45-50k) and transfer your current CC debt to those at 0% for at least 18 months. Search around and see if you can find 24 months to make it even better. As far as your car leases are concerned, there are companies that specialize in lease transfers. If your cars are marketable (and you don't lease thru Chase), you should be able to find somebody to assume your leases. I leased thru Chase, so I had to purchase my car, then sell it. Thank God it was a Subaru, and it held its value. I actually ended up selling it for more than I owed on it (gotta buy right, right?). Either way, sit down with the wife and see what fat you can trim off your monthly budget.

"It is a duplex surrounded by 4 other duplexes on the same side (1 rented, 1 just purchased yet vacant, 2 vacant - boarded up, maybe to be foreclosed on soon) ."

What's your plan with this? How much rent (vs market) would you be able to pull having this kinda surrounding? Are you sure the area is really "decent"? Did you drive around at night, talk to neighbors, etc.? Not to mention any kind of work that needs to be done to this property to bring it to rentable condition. I'd think twice before dumping all your savings into this one.

HML guy: "Sell the truck first, then we'll talk."

Can you do a HELOC to tap some of that $370k in RE? Have you tried finding a contractor that would front his work for a cut on the deal?

Edumecate me on why would one need a permit to fill a pool in? (I assume that's what the goal is in the OP)

Raymond, is there any chance you could get a better-paying W-2 in MA? I'm very surprised at the income, given the cost of living over there.

Do the hypothetical math: sell the truck for $35k and use $10-11k to buy something else free and clear = $0/mo on a car payment, which frees up $560/mo to invest. Obviously, the "new" car should have maintenance allowance saved up, just in case. Sell the truck while gas prices are still low and there is huge demand for trucks. At the end of the year, you'd have roughly $6 saved up - that is roughly 5% down on $130k property.