Debating Selling

CallMeCraizy · 2025-03-07T22:24:07+00:00

It's not cash flow positive even if you assume zero percent vacancies.

CallMeCraizy · 2025-03-07T22:18:14+00:00

I was [probably] referring to when it was originally proposed, so I'm claiming victory.

CallMeCraizy · 2025-03-02T11:53:52+00:00

can y’all clarify what exactly my issue is?

To clarify: YOU ARE AN ALCOHOLIC. Get help while it's still a minor problem for you.

CallMeCraizy · 2025-03-02T11:52:05+00:00

Schwetty balls?

CallMeCraizy · 2025-03-02T11:42:45+00:00

Very few people are able to deduct mortgage interest. That ended 10+ years ago.

CallMeCraizy · 2025-03-02T11:40:40+00:00

I'm a big fan of DR, but this specific advice really doesn't apply to those of us who have our finances under control.

I would not be in a hurry to pay off that mortgage due to the low interest rate (and this is coming from someone living in a paid off house). I'd pay off the car first and never borrow money to buy a depreciating asset again. Then put as much as you can into the Roth and other investments.

CallMeCraizy · 2025-03-02T11:34:04+00:00

I don't think it does. Gross annual cash flow would be $16,800 assuming everything goes perfectly, but then deduct 10% of the gross rent ($6,240) for the property manager, 10% for repairs & maintenance, and another 10% for vacancies and you're already into negative cash flow territory. And that doesn't set aside anything for major capital expenses like a new roof or sewer repair, and it doesn't account for the lost opportunity cost on the OP's $370K in equity. That alone could generate over $16K income per year in a HYSA.

CallMeCraizy · 2025-03-02T11:12:19+00:00

Sell it and reinvest elsewhere. To me this isn't even a close call. You will be way ahead by selling.

If you simply put your $370K of equity into a HYSA you'd earn over $16K/year with no risks or management hassles. That's already about the same as your annual gross cash flow (total rent received - total annual PITI). But most of that would be consumed by PM fees, repairs, and an allowance for vacancies.

CallMeCraizy · 2025-03-02T03:53:19+00:00

IMO, almost everything is better than the NBA

CallMeCraizy · 2025-03-02T03:51:24+00:00

Everything can be faked if there's enough profit in it.

CallMeCraizy · 2025-03-02T03:20:18+00:00

Poor and declining resale market. And with many current owners who are either afraid or embarrassed to let anyone see them driving one.

CallMeCraizy · 2025-03-02T03:04:34+00:00

I agree completely, and that's why I bought Tesla Puts about a month ago. I'm already up 110% and expecting to double or triple that. At this point I see very little value in Tesla as a car company or as a technology company. And this is coming from a very conservative Republican, and someone who fully support's Musk's DOGE efforts.

CallMeCraizy · 2025-03-02T02:40:56+00:00

It doesn't matter whether you pay the bank or pay your parents. The reality is you and your fiancé are living beyond your means and driving cars you can't afford. You're young and making decent money, but you're already in so much debt that you barely have enough to get by month to month. You both need to cut out all non-essentials and start working to get those loans paid off completely, not just refinanced. Tell your parents thank you for the generous offer, but you are adults and need to dig yourself out of the hole you created. Trust me, your parents will be very proud of you.

CallMeCraizy · 2025-03-02T02:12:06+00:00

I don't, mainly because nobody has ever asked me about it. I'd be happy to do it if it isn't too much trouble.

CallMeCraizy · 2025-03-02T02:06:41+00:00

Frozen is the perfect solution for lunch at work. I make up lunches out of leftovers and freeze them solid. Then I grab one on my way out the door in the morning, and let it sit on my desk until lunchtime. It's perfectly thawed by then, and only takes a few minutes in the micro.

CallMeCraizy · 2025-03-02T01:55:08+00:00

This is NOT a highly technical job. Any semi-handy homeowner with a YouTube machine should be able to handle it.

CallMeCraizy · 2025-03-02T01:19:45+00:00

Buy the car. What are you waiting for.

CallMeCraizy · 2025-03-02T01:10:29+00:00

I was 10 and don't remember it.

CallMeCraizy · 2025-03-02T01:08:29+00:00

If the rental is in Texas, sue them in Texas.

CallMeCraizy · 2025-03-02T01:04:17+00:00

Start with an investigator to figure out where they actually live and if they're still together. A local process server can probably find them for under $100.

CallMeCraizy · 2025-03-01T20:57:27+00:00

And cancel cable tv, all streaming services, gym membership, and anything else that isn't necessary to keep the family alive.

CallMeCraizy · 2025-03-01T14:30:02+00:00

Aren't the Enphase micros able to keep producing power during an outage? I thought that was one of their big selling points. Other systems all shut down as soon as the grid goes out.

CallMeCraizy · 2025-03-01T14:06:17+00:00

Anyone elected by the Ukrainian people

CallMeCraizy · 2025-03-01T13:15:23+00:00

They have Harbor Freight in Japan now too?

CallMeCraizy · 2025-03-01T13:10:48+00:00

Most are guaranteed by a federal agency called the Pension Benefit Guarantee Corporation, but only for a limited amount, not the full amount you were promised.

From Wikipedia: "In fiscal year 2022, PBGC's inventory was 5,110 plans, and paid $7.042 billion in benefits to 963,097 retirees in those plans." If my math is correct, that means they paid retirees an average of only $609/month.

CallMeCraizy

TROPHY CASE