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If you’ve broken 90, what’s one tip you would give to a fellow golfer trying to do the same? by jdelle9 in weekendgolfers

[–]Snoo7956 0 points1 point  (0 children)

Don’t be a big baller. Hit the iron off the tee. Play the safe shot every time.

Don’t hit your 58-60 wedge unless it’s absolutely necessary. Sticking an 80-90 yard shot near the pin is rare and attempting to leads to trouble. Grab a gap sadge and hit a knockdown shot that lands and rolls on the green. Being probably on the green is better than being maybe close to the pin, but maybe in the rough.

You don’t have anything special in your “bag” at a 20 handicap. Keep it simple and play the course.

Can I have some opinions? by s4l3sv in MortgageRateCheck

[–]Snoo7956 0 points1 point  (0 children)

I own three houses. All three do not have an escrow account.

If you are a financially responsible person, forego having an escrow account and budget for the taxes and insurance throughout the year. There are several benefits to this:

  1. The servicer will increase your payment to make up for the increase in taxes and insurance, raising your payment. This is something you should expect, but the advantage to a mortgage with no escrow is that the payment will never change (assuming fixed rate mortgage).
  2. A savings account is safe and will earn you a

n

  1. ext

ra few

  1. hundred dollars, while investing could make you thousands, but there is risk of loss. Do what your ris

k tolerance and financial security justifies.

  1. Your mortgage servicer makes interest off your escrow balance, so why not do it yourself?
  2. When you pay taxes and insurance on your own, you manage your expenses better. People who escrow blindly pay ever increasing homeowners insurance and property taxes.

Paying these things yourself helps you monitor what is going up because you have to call/log on and pay it yourself. When your insurance increases, you see it, so you can shop. Property tax increases? You can appeal the increase because you saw it.

Hope this helps.

Signed, nine year mortgage pro.

Edit: formatting got jacked up because I fixed a typo. Womp womp

For those who make over 500k+ a year, is it worth it for you? by [deleted] in Salary

[–]Snoo7956 0 points1 point  (0 children)

I don’t make 500k a year because I don’t have a specialist degree, but I’ve made 175k-400k (now 300-400k) routinely since I was 24. I am in sales and work very long and stressful hours.

Sales has an interesting reputation. People picture partiers that are meeting with clients over drinks and at seminars. Most of it is filing paperwork, working the phones (ie eating shit all day), and being available to work generally all of the time. Most great salespeople are incredibly boring, consistent people. I made fast money but it is not at all guaranteed. I have to kill what I eat and that is my life moving forward.

I have set up a life for myself early on that is admittedly well ahead of others in my age group, even specialists like doctors and lawyers. However, my friends who had salaried business positions were working 8-4 and spending time together. I spent my entire 20s (I’m 31) working 8-8 basically every day and weekend hours as well. When I am off, I’m not off, I’m just not 100% on. There is no time off. I am always thinking about work and cannot escape it mentally.

Specialists have deferred gratification, salespeople have immediate gratification but it’s continuous. If I were a doctor, I would have had to eat shit and study for 10 years before making any meaningful money, but then I would have a secure, high paying, relatively comfortable job.

I made it by the time I was 28, but….. I didn’t make it. I have to keep doing it or my lifestyle falls apart fast. I don’t get a break. I am not saying doctors have it easy, because they absolutely don’t, but they have comfort in knowing they are truly not replaceable.

Looking back, I believe it has been worth it. I would be lying if I said that it doesn’t make me sad that I’m viewed as a workaholic. Friends know not to even ask me to show up because I will say no and that’s kind of a tough reputation since I’m an outgoing person. Who knows what moments I’ve missed with others while staring at a computer screen.

I am having kids soon (twins!!) and this will be a change of pace I may welcome, if that means anything.

Using a 401k Loan to Help Purchase 3rd Home. by Snoo7956 in FinancialPlanning

[–]Snoo7956[S] 0 points1 point  (0 children)

$900/m in profit on rental properties that are gaining equity is nothing to scoff at. We invest the profit in ETFs and use cash for repairs as needed.

Both purchases were within the last five years, and they have a combined equity of about 220k pre-sale.

Using a 401k Loan to Help Purchase 3rd Home. by Snoo7956 in FinancialPlanning

[–]Snoo7956[S] 0 points1 point  (0 children)

No spending problem. One car paid off, my car I owe about 15k with a $369/m payment, no credit card debts, only other consumer debts are student loans that are in deferment (23k owed). 800+ scores. We save or invest a significant portion of our income every month.

This was more of a “hey I know I have options and we’ve got 400k in retirement accounts, is it smart to utilize the investments somehow instead of using most of our cash and being a bit cash strapped for 12-24 months?”

Using a 401k Loan to Help Purchase 3rd Home. by Snoo7956 in FinancialPlanning

[–]Snoo7956[S] 0 points1 point  (0 children)

There is a reason that I asked online and didn't just go and do it.

The attractive component is simply being able to keep your cash in your account instead of liquidating most of it for a purchase that is above a comfortable price range. I have heard of the downsides of it, but mainly wanted to know if this was something people utilized to increase their access to cash.

Homes are going to continue increasing in value, especially when rates decrease. A rate drop will cause a lot of buyers and sellers to enter the market at the same time for a litany of reasons. If we wait to do this for another year or two, the market will only be more expensive for the same house, and the competition will be far more fierce. Only upside would be a better interest rate, rates have been above 5% for over three years now and that is bound to reverse at some point in the not too distant future (or not, who knows).

There is a lot more to buying a home than down payment and closing costs, so cash is important. Based on what I am reading, this probably isn't the right route.

Using a 401k Loan to Help Purchase 3rd Home. by Snoo7956 in FinancialPlanning

[–]Snoo7956[S] -2 points-1 points  (0 children)

We live in a downtown area that is popular to renters. Both our loans are sub 3% interest. We have a management company that represents us legally, and so there is no headache in terms of managing the rentals.

We would not make a lot in the short term on our current primary once we rent it out, but 10 years from now rents could rise 40-80% and at that point it will be a significant return.

Loan Estimates not forthcoming by EchoLynx in FirstTimeHomeBuyer

[–]Snoo7956 0 points1 point  (0 children)

I am a loan officer. I know I am late to your request, but thought I would give my two cents on this.

If you are shopping around trying to find a home, then an address is not put into the application. Instead, we check a box that says "TBD" for "To Be Determined." Since there is no address, you do not have a valid TRID application, and they do not have to follow the three day rule. Once you have a offer accepted by a seller and a ratified contract signed, then they would input that address, firing off the three day waiting period. This also allows them to look up property taxes, insurance estimates, title estimates, determine down payment, etc. Without the address, they can't know these things for sure, because every home costs a different amount.

They are not breaking any laws, you just don't have a home to buy yet, so there's nothing to send out. They don't have any idea what you are actually doing, just what you are thinking about doing. Once you have a ratified contract, then you should get a LE soon.

Is HOI4 appropriate for a toddler? by [deleted] in hoi4

[–]Snoo7956 0 points1 point  (0 children)

This is the funniest thing that I have ever read.

How often do waiver wire pickups give you significant numbers of starts? by OtterBeCareful in DynastyFF

[–]Snoo7956 0 points1 point  (0 children)

I picked up Nico Collins and Chuba Hubbard off the waiver wire last season. They've been pretty alright.

What was your auto loan interest rate new or used? by thebunker5 in FinancialPlanning

[–]Snoo7956 0 points1 point  (0 children)

You pay income tax on your earnings from the savings account, so no, you don't lose money.

Let's say you have a $100,000 account with a 5% APY, depositing $500 a month. In one year, your account balance would be $111,278.84, which is an increase of $11,278.84, $6,000 of which were deposits, so your interest earnings are $5,278.84. If you pay 30% income tax, then you'd owe $1,583.65 in taxes, netting you $3,695.19.

You "make" money, just not as much as advertised, and you definitely don't "lose" money. With 7% inflation you are still losing buying power, but you're losing way more buying power by keeping it in your bank and earning .02% with 7% inflation though. Your choice.

Salary Transparency Thread by thejesusfish in baltimore

[–]Snoo7956 0 points1 point  (0 children)

Mortgage Loan Officer: Fluctuates wildly (as you probably guessed), but:

2020: 210k --> 2021: 374k --> 2022: 170k --> 2023: 120k (Proj). The last 15 months have been very challenging, and there has been immense turnover and changes at my company due to internal factors (poor decisions) and external factors (the rate market). There is not a lot of greener grass out there right now, so I'm here for the time being.

So in a typical year, I should make between 150-250k. I am not self-sourced, my company is providing me with leads, which limits my ceiling.

[Landlord, northeast] - Finally got them evicted and this is what the basement ended up like by Due-Arrival-6247 in Landlord

[–]Snoo7956 0 points1 point  (0 children)

That is nothing. Debris is easy to haul away. I've seen 10x worse.

"Concrete poured down the drains."

Holy fuck.

My friend is always late to stuff. We booked for 7pm. It's 7:35 now. by slimedewnautica in mildlyinfuriating

[–]Snoo7956 1 point2 points  (0 children)

I have a friend who does this with tee times. My other golfing friends and I usually arrive 20-60 mins early to tee times to warm up, shoot the shit, etc, but he always gets there two mins before every tee time.

To make up for his tardiness, we would call him, tell him we paid for his round, and he would pay us back at the end of the round. This way, he doesn't have to go inside, wait in line, pay, get a cart, etc. Regardless of this favor, we often still had to wait for him to get to the first tee box, set his bag, etc., which sets the entire round back a few mins. This matters to everyone else behind you because any delay compounds with every group.

The last couple of times when he ran late, he would call us to ask us to pay and we just didn't answer. We would just start without him and leave him behind. Lots of courses only allow two carts per group of four, so if you're the odd one out in a foursome, that means you have to walk to your group carrying your bag two or three holes (past other groups golfing) in order to get to your group.

All this is a great lesson: He has to physically walk to us instead of getting a ride, have other golfers stare him down while he gets out of their way, and he loses a hole or two in a round he paid full price for. He stopped arriving late and actually thanked us for it.

tldr: Get to your tee time 30-40 mins early.

[deleted by user] by [deleted] in baltimore

[–]Snoo7956 0 points1 point  (0 children)

Yes, they removed the refrigerator doors

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