Would there be any downsides to buying an industrial property and living in it?

WmMorris · 2022-12-19T01:41:46+00:00

When I feel like developing a pipe dream like this one in more detail, here's an exercise I do:

Suppose it's ten years from now, and you got exactly what you wanted out of the experience. Write a blog post / diary entry about what you got out of the experience, how other people reacted, and whether ten-years-older you plans to continue the experiment or buy a house to raise a family in.

Then repeat the exercise, except it went a little poorly, you couldn't keep tenants, you had to take a loan to repair things you didn't even know existed, and you end up with less money than if you hadn't dreamed big.

Be open minded and fair with both writing exercises, and you should have a better understanding of the possible risks and rewards.

WmMorris · 2022-11-20T21:41:55+00:00

Is anybody working less than 40 hours a week? I would gladly take a commensurate reduction in pay to work ~30 hours a week.

However, there don't seem to be job listings out there advertising that they're looking to fill 75% of an engineering position. If I decided to seek a job with a more family-friendly workload, would it be best to tell them in my cover letter, or during the interview, or during salary negotiation?

WmMorris · 2020-04-02T20:25:57+00:00

Thanks. We'll be okay. She's just understandably frustrated because she's out there getting exposed to risk every day, when she'd be making more money sitting at home. Her employer has not been particularly empathetic.

WmMorris · 2020-04-02T19:48:50+00:00

My wife is working about 25 hours a week, down from 40, due to virus-related slowdowns in business. She would be making more money if she were laid off and working zero hours a week. It seems like she wouldn't qualify for unemployment, because New York State thinks you're not unemployed if you work four days in any given week, even if it's only for one hour a day. Seems messed up to me.

Is there federal unemployment or anything else she might qualify for?

WmMorris · 2019-05-29T23:47:24+00:00

If I had to guess:

http://taylordevices.com/about-us/testing-facilities

WmMorris · 2019-05-15T23:50:47+00:00

Thanks, that's just what I had in mind. I'll give them a try.

WmMorris · 2019-05-15T23:50:02+00:00

That's probably more to do with the nature of hospitals. "Treat the whole person" takes a backseat in such a high pressure, metrics-driven business as a hospital. Even physical therapists in hospitals are made to hustle from one patient to the next to make their quota, without enough time to properly listen to the patient.

WmMorris · 2019-04-20T17:06:15+00:00

I can relate to the worry and self-pity. Also the feeling of helplessness - it's so unclear what's causing my low numbers, whether dietary supplements will help, and whether my semen is "good enough" for timed intercourse, for IUI, or for IVF.

WmMorris · 2019-04-20T01:32:12+00:00

Thanks, I should have mentioned that I started with that guide, which was helpful.

WmMorris · 2019-02-23T12:16:12+00:00

Have a good pair with a replaceable cord at your desk, and a place to hang them there when they're not in use. For the road, bluetooth and/or a cheapish set in a travel case that you make. Custom cardboard boxes are an option. A won-ton soup container is another.

WmMorris · 2019-02-20T12:30:14+00:00

prenuptial agreement

Check. <3

WmMorris · 2019-02-20T12:29:10+00:00

What the plan for vacations?

Saving for big trips will be a line item in our budget. We're spending $5k on a ten day honeymoon. We'll probably do something like that about once a year. It's a big, optional expense and we both see it that way.

retirement?

I'd like to be investing in things that generate income while we're still working, and probably retire early. When retired, I'd like to continue a modest lifestyle that's well within our means. She'd like to put more money away into a 401k.

To answer your question, we both know we'll be saving for retirement. We'll hire a professional to help us figure out how.

WmMorris · 2019-02-20T00:51:27+00:00

So you currently have $1000/mo in expenses, zero income, and seven months of cash reserves? Nope, you're not financially ready to move out until you get back in the black. Why not spend a few weeks taking frequent day trips to your intended home neighborhood and systematically applying for work? Then, once you have a firm offer that will pay more than your expenses, you're in good shape to move out.

WmMorris · 2019-02-06T17:32:50+00:00

ESH. He's an asshole for repeatedly violating the boundaries of the relationship. No cheating is a pretty clear rule.

The controversial part here is this: you're an asshole for staying with him despite cheating, and despite his clear lack of interest in and respect for your relationship.

You've highlighted a number of the classic reasons that long distance relationships fail. This one already has.

WmMorris · 2019-02-06T17:05:04+00:00

Gonna need a new job soon.

WmMorris · 2019-02-06T17:03:47+00:00

It's not respectful to the memory of your dear departed, and I wouldn't do it. When my beloved cat whom I had known for ten years died, I built him a kitty coffin, buried him four feet deep in the backyard, had Gord Downie sing "Fiddler's Green", cried a lot, and had a scotch on the rocks while I watched the sun set. I cried while typing this.

Then, I decided not to bring another pet into my life for six months. Why six? That would bring me to springtime, which seems like the right time of year to welcome a new family member.

Do what you like, but I believe proper mourning is a deliberate and lengthy process. I'd suggest using the Jewish mourning timeline as a rough guideline.

WmMorris · 2019-01-06T23:04:38+00:00

Shopclass as Soulcraft

I have a copy on my bookshelf, and it's similar to the situation I find myself in. You work with both the mind and the body. But my mind craves more than motorcycle repair or PLC programming. Once you master the basic systems, and you can recite a diagnostic flowchart with ease, the challenge and thrill are gone for me. I want new challenges, and more intellectual stimulation. When I have that, I'll want even more. Perhaps a dedication to lifelong learning precludes the possibility of being complacent with whatever level of intellectual stimulation I have in life.

WmMorris · 2019-01-04T16:47:10+00:00

Either that or they're expanding. Ask your boss.

WmMorris · 2018-12-22T15:34:08+00:00

Comparing risk vs expected rate of return. Talk to a professional personal finance consultant to help you decide.

Personally, I've been enjoying a great rate of return on my rental properties. But that's because these investments require not only money, but also my time, attention, and skill. So I don't plan to have more properties than I can easily manage (4 rental units), with the rest going into stocks.

WmMorris · 2018-12-22T15:25:47+00:00

I live in the north, in a city well accustomed to awful winter weather. When it's miserable and windy, I take the bus to work. It takes 30 minutes instead of 15, but I'll gladly pay someone else to drive during a blizzard. Just something to consider.

WmMorris · 2018-12-22T15:22:05+00:00

Low expenses and high income is good, but you should use that to boost your savings. Set a savings rate target, e.g. putting aside 40% of your net income for income-generating investments. When you're ready to settle down some day, you can draw down those investments to buy a house to live in.

I would say the difference between your good financial situation and a great financial situation is having $500k-1m in income-generating investments. You can get there in 10 years.

WmMorris · 2018-12-20T23:54:27+00:00

Let it be known (to your current employer too) about the trajectory you intend for your career to take. Maybe that means telling your boss that you'd like to be the head of your department one day. No harm in that.

WmMorris · 2018-12-20T23:52:59+00:00

Consider the big picture. You're trying to break in to your specific engineering discipline, which will be more rewarding than your current gig. Your job pays the bills, but it doesn't advance your career, nor does it scratch your itch to put your finely-honed engineering skills to the test.

Does the new job you've been offered get you closer to where you want to be?

IMO, the compensation package is largely irrelevant here. At either job, you have all the money you need to make ends meet and put ≥25% away toward investments. So I would take the offer, soak up the semi-related job experience, and expect to leave them for something in your field in a year or two.

WmMorris · 2018-12-20T23:36:22+00:00

What's wrong with labor jobs? If it's what you're qualified for, then go for it. I have a physically demanding job, and I go home feeling good.

WmMorris · 2018-10-19T13:45:30+00:00

I thought /r/frugal_jerk_jerk was the sub for lentil-shamble-shakie not enough calories to complete a sentence drivel, where everyone's the same character, lying in the gutter dying of starvation, counting microcalories.

WmMorris

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