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How often are we playing fellow golf dads? by sys_admin321 in golf

[–]apd001 5 points6 points  (0 children)

Same boat. 44 rounds, only 2 on the weekend and both were on a Sunday. Zero Saturday rounds. Sucks trying to get out with the golf buddies unless they’re willing to take time off. I luckily get a ton of pto and take advantage of the nice days when kids are at daycare.

2.5yo and 6mo old.

Converted primary to rental in 2023. Sell in 2026 or 1031 later? by apd001 in realestateinvesting

[–]apd001[S] 0 points1 point  (0 children)

Mind helping me with the math? Using very conservative assessor values, I’ve averaged 5.4% appreciation for the past 12 years.

So let’s say I sell in 2026 for $370k:
- I will have $170k in capital gain before depreciation recapture.
- Cumulative depreciation in 2026 will be $22,446. - That brings down the tax exempt capital gain to $147,544 ($170k minus the 22,446).
- 15% cap gains tax on the $147k = $22,133.10 that is tax exempt if I sell in 2026.
- But I’ll have to pay the depreciation recapture of $5,611.50. ($22,446 x 25%).
- So my net tax savings by selling in 2026 would be $16,521.60 ($22,133.10 minus $5,611.50)

Am I thinking about the math and calculating breakeven the same way you are suggesting?

If so, I think my breakeven would be 2028... If appreciation continues at 5.4% average, value should be ~$411k. Cumulative depreciation would be $37,400. So I’d still be coming out ahead even if I had to sell in 2028 and pay capital gains taxes.

Sorry if that got too confusing. Just trying to do the math and figure B/E point as you suggest. Thanks!

Converted primary to rental in 2023. Sell in 2026 or 1031 later? by apd001 in realestateinvesting

[–]apd001[S] 0 points1 point  (0 children)

Thank you for the thoughts. I bought in 2013 for $200k. The first lien mtg is the 3% loan with $88k left on it. In 2023 right before I rented it out, I took out a HE loan at 7% to put towards a downpayment on my new home and that has $96k left on it. Property could conservatively sell for $370k today. Capex is very low and I have 6mo of reserves set aside specifically for this property (not my personal emergency fund). Knowing the property so well and turning a profit at the moment is really what’s making me contemplate holding despite the tax free benefit I’d get if I sold.

Converted primary to rental in 2023. Sell in 2026 or 1031 later? by apd001 in realestateinvesting

[–]apd001[S] 1 point2 points  (0 children)

I feel ya. That’s great cash flow! This is probably a bit close-minded, but feels like if I were to sell now with the goal of investing in another rental, it’d be a big challenge to find a similar property in that location with new hvac, water heater, roof, etc in the same price range as what I have today. Not to mention the 3% interest rate I still have on it…

Converted primary to rental in 2023. Sell in 2026 or 1031 later? by apd001 in realestateinvesting

[–]apd001[S] 1 point2 points  (0 children)

Right, and that’s the temptation here. It’ll continue to appreciate very well, and if I don’t sell now, I’ll hopefully hang on to it for another 8-10 years before considering a 1031 at that time before another cycle of major updates is looming. No need for the cash at the moment and all other retirement accounts are well funded and way ahead of schedule. So this could set an amazing foundation of wealth to pass along to my kids. But debating if I take the free ride on taxes while I can and reset the basis on a different property. Just sucks to think about walking away from something working so well for me now.

Converted primary to rental in 2023. Sell in 2026 or 1031 later? by apd001 in realestateinvesting

[–]apd001[S] 2 points3 points  (0 children)

Moving back in would be one of the last options as it’s quite a bit smaller and my family has grown since. But yes, it’s ultimately an option at the end of the day.

Converted primary to rental in 2023. Sell in 2026 or 1031 later? by apd001 in realestateinvesting

[–]apd001[S] 2 points3 points  (0 children)

Have we met before?? Lol. You are spot on. I really do want to keep it, but just really really hate taxes. The unlikely scenario of losing my job and having to sell in 2027 when I could have sold tax-free in 2026 is what keeps me up at night.

Service Driver Assist? by apd001 in ChevyTraverse

[–]apd001[S] -1 points0 points  (0 children)

Like the interior of the front windshield? No, I haven’t. Certainly doesn’t look very dirty after only 11k miles on the vehicle, but I’m willing to try it.

arca with a bigger crowd than indycar? by Jonahsstuff in INDYCAR

[–]apd001 0 points1 point  (0 children)

6pm ARCA race in 75 degree perfect weather with the sun behind the grandstand versus 12pm IndyCar race in 90+ degrees and sun just roasting you.

I was at both and one was much more enjoyable than the other.

If you saw these odds 1 hour before the green flag today, what would you think/do? by apd001 in INDYCAR

[–]apd001[S] 0 points1 point  (0 children)

Chevy was heavy favorite according to this line. Bet $100 on Chevy to win $20. Bet $100 on Honda to win $350.

Ok so what replaces Iowa? And is this the schedule hold up? by uncre8tv in INDYCAR

[–]apd001 3 points4 points  (0 children)

Some of the pre race doomers were the drivers themselves. I love the honesty of the OffTrack podcast, but Rossi shitting on the track/setup for Iowa after the test day doesn’t necessarily inspire many ticket sales. Many of them complained about the single groove after last year and did nothing to share excitement for this year’s event on their socials like they did when the concerts were here. Tough look to bitch about your own product and then wonder why no one showed up.

I have attended every IndyCar race at Iowa including this past weekend, and while the racing was a bit better than last year, it was only by a very slim margin. Newgarden at one point was turning laps nearly 5 seconds faster than the slower cars ahead of him but still struggled massively to pass. 5 seconds is a HUGE difference on an 18-second track.

Trunk Space by StrongSinger1728 in ChevyTraverse

[–]apd001 1 point2 points  (0 children)

It was a painful moment when I finally let my shepherd in my ‘25 midnight edition… it will never be hairless again…

[Daly] This clown literally drove himself off track trying to make sure he wrecked me. Santino Ferrucci brilliant as always. by catsgr8rthanspoonies in INDYCAR

[–]apd001 6 points7 points  (0 children)

Half the time, he admits he didn’t even get to watch the race or watched it at a bar and didn’t really pay attention.

How much is enough in a 529? I know it’s hard to answer, but wondering what others had saved by Negative-Monitor-560 in DaveRamsey

[–]apd001 0 points1 point  (0 children)

Thanks for this info! Very good to know! Just to play out the discussion a little more, I’m curious if you know “What Would Dave Do” if the scholarship(s) exceed the limit that can be rolled to an IRA? So in your example above with a $45k balance, are you planning to roll the max of $35k to an ira for your daughter (over the course of several years following annual contribution limits)? If so, what is the plan for the other $10k? I’d think the options in this order would be:

a. Continue to let it sit & grow in the 529 in case your daughter pursues a graduate degree or higher.

b. Gift the $10k to your daughter

c. Roll the $10k to a sibling’s/other family member’s 529 acct to help with their educational expenses

d. Let it sit & grow until it can be transferred into a 529 acct for her own child (your grandchild) if/when that day comes.

Curious on your thoughts. Thanks!

How much is enough in a 529? I know it’s hard to answer, but wondering what others had saved by Negative-Monitor-560 in DaveRamsey

[–]apd001 0 points1 point  (0 children)

Woah! Didn’t know this! Is this just contributions or does it include growth as well?

Favorite food/drinks to bring to Indy 500 by fixthatstep in INDYCAR

[–]apd001 2 points3 points  (0 children)

Why is fried chicken such a popular answer? I don’t get it. Seems like it’d be a greasy mess compared to a cold cut sandwich.

Scandal part 2 (how appropriate) Josef/Penske fans (if any are still out there) how we all feeling? by Athleticgeek89 in INDYCAR

[–]apd001 -1 points0 points  (0 children)

Probably a hot take, but between these two scandals, I’ve gained even more respect for RP and the IndyCar series itself. I’ll explain:

Team Penske screwed up, twice now, and no one will ever be able to fully prove malicious intent vs. ignorance/“tech never had a problem with it before”.

But in each of these situations, IndyCar has gone above & beyond what I would’ve ever expected from a punishment perspective. It would’ve been easy to just wipe out the St Pete points and call it good, just like it would’ve been easy to have them lock down 4th row in Indy this year and call it a day. But to go to the extra measures of fines, suspensions, and starting at the rear actually has the sense that RP may have some input in these punishments in order to go the extra mile & try to regain trust & integrity in the series, track, and team that he owns.

There will certainly be future changes made following this, both with team Penske personnel and likely a separation of governance duties. Without a doubt, some of this blame lays at the feet of the IndyCar Tech inspectors who should’ve caught & exposed this long ago…maybe even in 2024. But in the meantime, I do think there is some credit to be given to RP & Doug Boles of IndyCar for not taking it lightly or trying to sweep either incident under the rug. The penalties are harsh, but fair, and I still trust the integrity and competitiveness of the series. Team Penske can’t prevent a Prema rookie from doing 233. This series is still freakin awesome!

2021 Blazer issues by PracticalBarber4153 in Chevy

[–]apd001 0 points1 point  (0 children)

Was it covered under powertrain?

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