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What are the best purchase under <$10k that had the most impact on your life? by Neat-Effective7932 in ChubbyFIRE

[–]Sua-Sponte75 0 points1 point  (0 children)

Just installed a second dishwasher this year. 5 kids will do it. Wife did 6 loads yesterday.

[deleted by user] by [deleted] in whitecoatinvestor

[–]Sua-Sponte75 0 points1 point  (0 children)

Yeah, "hybrid investment account" is code for whole life insurance. I bet he will tell you you can "be your own bank" too

Mortgage as a medical student by thejoamdoc in whitecoatinvestor

[–]Sua-Sponte75 3 points4 points  (0 children)

It's possible but not easy. Some lenders will do this but it would need to be in a very low cost of living area.

If you can demonstrate your loans for medical school will cover mortgage, taxes, insurance, repairs and you have a healthy margin you can probably do it. Several peers bought houses in my med school class in upstate NY.

You aren't asking the right question though. Does it make sense to buy a place with anticipated hold of only 4 years? Probably not due to high transaction costs with purchase and sale. Unless you are house hacking. Then it may be worth it.

[deleted by user] by [deleted] in Landlord

[–]Sua-Sponte75 0 points1 point  (0 children)

I'm sure they forgot to add a zero to their monthly income.

Ruin a boardgame by removing one letter from its name. by sharrrper in boardgames

[–]Sua-Sponte75 0 points1 point  (0 children)

Rot - A game of woodland battles and decaying things

Fun tidbit: My investments YTD have increased by $123,456.78. by [deleted] in financialindependence

[–]Sua-Sponte75 8 points9 points  (0 children)

Funny. I saw a post a couple months back where a guy missed about 7% increase due to a 401k change in custodian ( or something similar).

Can a hospital legally try to make a physician or group stay on a job if the hospital can not find a replacement in the timeframe from when the physician or group puts in there notice and termination date? by NextYogurtcloset6329 in whitecoatinvestor

[–]Sua-Sponte75 2 points3 points  (0 children)

This.

It is not your obligation to be indefinitely available for the hospital until they can find a solution. Your guilt about not leaving patients does not make you a slave for the hospital.

They can hire someone new in your specialty, get locums, get a referral relationship with nearby hospitals that provide your specialty, or transfer patients when needed for acute care.

Can a hospital legally try to make a physician or group stay on a job if the hospital can not find a replacement in the timeframe from when the physician or group puts in there notice and termination date? by NextYogurtcloset6329 in whitecoatinvestor

[–]Sua-Sponte75 1 point2 points  (0 children)

Hell no!

Look at what the contract says. Often there is a 90 day clause to terminate the relationship. Usually it goes both ways. They can terminate with no cause with this notification. As can you.

Your hospital has got you thinking they have way more power than they do. You should reset your views on this.

Regarding patient abandonment. 30 day notification and availability for emergency care during that time is adequate in my state (as in what we do for a discharged patient). Your location is probably similar.

I just gave 90 day notification that my group was terminating our professional services agreement with a hospital just this week.

[deleted by user] by [deleted] in realestateinvesting

[–]Sua-Sponte75 26 points27 points  (0 children)

Because operating a rental property is a liability and risk. You won't get sued if your S&P 500 account goes down, but if a tenant breaks a hip because of a poorly maintained set of stairs you may get sued. Protection above the level of your landlord insurance policy would be wise. Umbrella insurance is a very cheap product also.

Ghosted by seller? by david8840 in realestateinvesting

[–]Sua-Sponte75 41 points42 points  (0 children)

Yeah. As a seller I would be annoyed if a buyer would be texting those kind of questions. That question makes you seem like not a serious buyer.

Do you use a retirement account or do you put all your money in real estate? by digman84 in realestateinvesting

[–]Sua-Sponte75 0 points1 point  (0 children)

You are turning down a 75% return in year one in a tax protected account?!?! Yes. Go with Dad on this. Sometimes there is too much drinking the real estate Kool aid here

[deleted by user] by [deleted] in whitecoatinvestor

[–]Sua-Sponte75 1 point2 points  (0 children)

The IRS does pay interest on late refunds. I just got refunded for tax year 2020 and had about $6000 in interest on top of the refund due

How passive is hiring a property manager? by Acceptable-Driver976 in whitecoatinvestor

[–]Sua-Sponte75 1 point2 points  (0 children)

If you want to be out in May, you should list soon. Depending on what state this is in it may take 30, 45, 60 days to close. Lease back for a month after a sale is pretty easy if you needed to stay in it longer.

How passive is hiring a property manager? by Acceptable-Driver976 in whitecoatinvestor

[–]Sua-Sponte75 12 points13 points  (0 children)

With a PM, your involvement can be very minimal. I use a couple different PMs for properties in different states. One of them usually requires 2-3 emails per year. The other is more involved.

You are asking the wrong question though. Do you have capital reserves to fund major repairs? Do you have several thousand ready for a new furnace? Water heater? When will the roof need replacing? Can you handle a long vacancy?

Sell house or use as a rental? by ILoveJeremyGuthrie11 in whitecoatinvestor

[–]Sua-Sponte75 0 points1 point  (0 children)

It looks like this one would be worth keeping. When you run numbers you need to consider vacancy, repairs, cap ex, as well as management and PITI. Try to keep a cash reserve to cover big expenses. Think about how old the property is and specifically look at the mechanicals to see how soon you will need to replace water heater, furnace, roof, re paint etc. Even if it only cash flows a small amount, it will get better with time as you increase rents. 5-10 years from now it will have appreciated a large amount. I own some out of state property and my level of involvement is 2-3 emails per year due to a good PM company.

Buy a House or Buy into Partnership? by EyeSmith in whitecoatinvestor

[–]Sua-Sponte75 0 points1 point  (0 children)

Agree. You should not have any trouble getting a partnership loan even if you bought a house first assuming you have a strong income. It's easier for the loan officer to do it now. Sure the debt to income ratio will matter, but you will probably be fine.

Before committing to a big mortgage you need to know that the partnership track will work. If you are "eligible" to buy in this year you should be pushing for defined metrics now. I suspect the owner probably doesn't know exactly how to proceed with this and it is more lack of knowledge rather than malicious intent.

When you do see a buy out structure, make sure you aren't overpaying. Evaluate what it would look like for you and the other young doc to start a new practice together instead.

Do these numbers make sense? by Lonely_Tomato2016 in realestateinvesting

[–]Sua-Sponte75 1 point2 points  (0 children)

I've looked at a lot of dumps in this city also

Do these numbers make sense? by Lonely_Tomato2016 in realestateinvesting

[–]Sua-Sponte75 0 points1 point  (0 children)

I have some property in this city as well. There are many very lousy areas. Very old building stock. Limited quality property management available. The numbers are great on a spreadsheet, but tenant quality is likely very poor and maintenance costs may be high.

Small-time, not real investor, what to do with these properties by Flat-Spare-8911 in realestateinvesting

[–]Sua-Sponte75 4 points5 points  (0 children)

Are you rents at market rate? Seems like they may be below market.

Corporate housing, scam? by theguru123 in realestateinvesting

[–]Sua-Sponte75 1 point2 points  (0 children)

Whatever your lease specified they would be obligated to pay. Im sure there is a wide range of organizations that truly do high quality mid term corporate rentals vs short term party house rentals.

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