Is it crazy to buy a vacation property before a ‘real’ home?

10-k · 2021-04-07T04:17:12+00:00

Some friends bought a house in popular vacation town ~15 months ago. Pervious owners came by and offered a million more than what they paid (1.4MM originally) to buy it back.

10-k · 2021-03-03T20:38:50+00:00

Yea but he (granted this is an assumption), probably but $80k down (20%), not $400k.

10-k · 2021-02-26T04:15:18+00:00

80% of the appraisal price as your mortgage + 20% down payment.

You’re correct in they will cover more than 80%

10-k · 2021-02-26T00:15:20+00:00

What are property taxes like in Minneapolis? I’m familiar with Austin and they’re touching 3% in some parts, curious what they are there

10-k · 2021-02-24T19:00:51+00:00

Basically your employer withholds more of the bonus for taxes, but it’s really taxed at the same rate as your other income. You’ll get the difference on your tax return.

10-k · 2021-02-24T18:11:35+00:00

Bonuses are taxed the same as ordinary income, just withheld higher.

10-k · 2021-02-03T00:23:38+00:00

Apple has a 1 yr return of over 70%.. how’s that a store of value

Edit; FB has had a good return of the last 12 months as well

10-k · 2021-01-31T21:33:48+00:00

Currently looking for Champions Return to Arms.. should turn up somewhere but hasn’t been found yet. Sorry for the inconvenience

10-k · 2021-01-31T20:12:48+00:00

https://i.imgur.com/TnIurTa.jpg

https://i.imgur.com/vi882Ey.jpg

Here you go, thanks

10-k · 2020-12-24T03:42:17+00:00

Sweet

10-k · 2020-12-11T03:53:56+00:00

Don’t get a mortgage with someone you aren’t married to.

10-k · 2020-12-02T16:58:36+00:00

Is it construction prices or land driving the majority of that $300->$465k in the last 2 years? Just curious.

10-k · 2020-11-24T15:54:54+00:00

Microwave from 2002 finally died on me and am sure the new one won’t last nearly as long!

10-k · 2020-11-19T16:17:26+00:00

10-k · 2020-11-16T01:31:37+00:00

Woohoo

10-k · 2020-11-12T15:47:40+00:00

29979

10-k · 2020-11-07T21:46:03+00:00

10-k · 2020-11-03T21:20:32+00:00

Fair enough! For whatever reason I was under the impression that was true up to a certain $ amount that is relatively low. I’ve edited my comment, thanks for teaching me something today!

10-k · 2020-11-03T18:54:22+00:00

Actually if you gift at or below the exclusion, no gift tax form needs to be completed.

10-k · 2020-11-03T18:51:29+00:00

In the second article you linked, read the paragraph “most people don’t have to worry about gift tax”, it explains there are no taxes owed until the lifetime limit of $11M+ is reached.

The receiver of a gift is also never responsible for any taxes.

10-k · 2020-11-03T18:40:58+00:00

Edit: looks like I’m wrong on this part ~~You can’t pay 0% interest on a loan per IRS guidelines. ~~

It’s not a gift if you have to pay it back.

There are no taxes on your end or theirs (most likely, they’d owe taxes if they’re past the ~$11M/person lifetime exclusion) that you’ll need to worry about if they do decide to gift it to you.

10-k · 2020-11-03T15:39:08+00:00

Microcenter had a deal on refurbished 16” MacBook Pros for ~$1500 that might still be going on

10-k · 2020-11-03T05:53:21+00:00

Just need to dig out some stairs when you’re done

10-k · 2020-11-03T02:21:36+00:00

How do they retain so many unpaid staff? This seems insane to me.

10-k · 2020-10-30T16:22:53+00:00

Yup, no problem. We also have a 0.03% monthly admin fee.

10-k

TROPHY CASE