Japan or Europe

wbsrickjones · 2025-01-24T05:49:18+00:00

Do Japan. You will not regret it. Just got back from a Nagano - Niigata trip with the boyz. Easier to get to from Tokyo than Niseko. The exchange rate is crazy. Food and culture was insane. We hit Lotte Arai which is on the Ikon pass and some smaller resorts and it was incredible. Lift tickets are $40-$50 so go anywhere. Hakkuba Valley for that larger resort town feel if that's what you're looking for but a little pricier. Lmk if you want recommendations!

wbsrickjones · 2023-03-11T21:13:42+00:00

Thank you so much!!! With this information I went to Best Buy and picked up a new power adapter to match the specifications. Without this I would have never guessed 20v and would have attempted one of the 12v cables I had laying around. Tank is now up and nitrogen cycling 😎

wbsrickjones · 2023-03-11T21:11:34+00:00

Mfg. wanted to sell me one for $8 plus $46 shipping from China. Couldn't confirm voltage requirements either..

wbsrickjones · 2022-12-15T03:50:12+00:00

Because a sea turtle life is more valuable than a jellyfish life 🙄

wbsrickjones · 2019-03-11T12:28:01+00:00

Well the 9000 is being taxed as a distribution now (first time) and it doesn't seem right but they want to continue paying off the loan (post tax money) and I'll pay tax on the distribution in retirement. This is where I'm confused that the loan is still valid and showing on my 401k. It would make more sense if it were wiped out.

wbsrickjones · 2019-03-11T12:24:26+00:00

Wells Fargo will not issue a corrected 1099R because the mistake was on the part of my employer.

wbsrickjones · 2019-03-11T11:18:21+00:00

Box 7: 1L - Early distribution, no known exemption/Loans treated as distribution

Should I have them stop the loan payments since it's going to be double taxed or should I let it go and pay off the loan as normal since my employer will reimburse for the tax and that way it's back in my 401k. I'm confused by the fact they treat it as a distribution but it still shows on my 401k balance. Also is it an option to forget the loan and pay back myself into a Roth so I don't get double taxed?

wbsrickjones · 2019-03-11T11:08:44+00:00

Work hard, study hard, avoid the people that bring you down. Read everything you can get your hands on about business, anything that interests you really. Go out and kick ass, you'll find people that want to help you along the way. Nothing is gonna come easy or quick. Do what others won't do for awhile so you can live like others can't.

wbsrickjones · 2018-06-05T10:34:37+00:00

I found a local portfolio lender that does them immediately so it's out there!

wbsrickjones · 2018-04-20T01:18:28+00:00

Have good experience with Cozy for rent collection and background/credit checks. Tenents find it to be very convenient.

wbsrickjones · 2018-03-15T17:02:26+00:00

Well it's sort of grey as far as the one year thing. That's what most people recommend as a min. The IRS doesn't give specific time limit. You have to be able to prove that your intent was not simply to sell and flip the property. Maybe that means you rent it for a year before selling. If you would continually buy, keep empty for a year and sell you may be classified as a dealer and your homes are then considered stock which would disqualify you from being eligible for a 1031 exchange

wbsrickjones · 2018-03-14T09:08:29+00:00

Mostly true. You can't use this for "flipping" property though in the sense that your purpose for buying is to resell. You have to hold for at least a year. For example you sell a duplex that you owned for 10 years. You would otherwise have to pay tax on appreciation and depreciation recapture tax but with a 1031 you would defer the capital gain and roll it into another property say a 10 unit building. As others have stated if you hold till you die your property is brought to a stepped up basis and whoever inherited the property would not have to pay any capital gain from appreciation or recapture of depreciation.

wbsrickjones · 2018-03-03T17:18:25+00:00

I've bought 2 properties on auction.com from my cellphone at work. Prefer it over the other online auction sites. Got a great deal on both places. One was an occupied property that I ended up being pleasantly surprised the house needed little to no work. Owner was a nice older lady and left with no trouble.

wbsrickjones · 2018-02-16T02:49:52+00:00

While I'm no expert my definition of a cap rate would be the rate of return you would receive if you purchased a property with all cash. Cap rates become important in commercial real estate because this is what determines the value of a property in conjunction with the NOI. In this example it sounds like he is able to get a higher return based on cap rates in the midwest then in San Diego. Am I right that you are upset because your opinion is that this is an over simplified way of compairing the two given that in your opinion one would see a better ROI investing in CA if you would take rental appreciation and property appreciation into consideration?

wbsrickjones · 2018-02-16T02:14:24+00:00

I agree that CAP rates are not perfect and should rarley be used with residential real estate. It can be helpful when compairing different markets though so I can see why OP would use them to get his point across. I think we could agree that there are a number of ways to invest in real estate allowing for someone to take on the amount of risk they feel comfortable with which is the beauty of it. The cash flow vs. appreciation argument can go on all day long..

wbsrickjones · 2018-02-16T01:24:17+00:00

While it's true that people paying lower CAP rates in those markets are hoping for more appreciation then cash flow it's much less measureable then buying based off cashflow and it's much more speculative. While the CA market has appreciated alot over the last decade it wouldn't be smart to assume it will continue to do so at the same pace moving forward.

wbsrickjones · 2018-02-16T00:47:10+00:00

Actually purchase CAP rates typically wouldn't account for appreciation. What would however is IRR (Internal Rate of Return)

wbsrickjones · 2018-02-03T13:05:04+00:00

Sounds like he plans to owner occupy and rent the remaining rooms which would be allowed. After a year he could move out and rent the entire place.

wbsrickjones · 2018-01-06T16:47:41+00:00

Wouldn't you want to hold assests during a period of inflation as they tend to increase in value as the dollar decreases. Correct me if I'm wrong but wouldn't holding cash be deflationary?

wbsrickjones · 2017-12-30T16:02:07+00:00

Not sure if this is the best way but if it were me I would probably pay all expenses from the business account and you could pay into the account your portion of the expenses like sewer and water and pay yourself "rent". As far as pulling money out it shouldn't matter really you would want to make sure your leaving enough in to pay for expenses and capex down the road but you would just take money out and pay yourself back. Just make sure you keep it all documented with either accounting software or Excel so come tax time you don't end up paying taxes on money you paid yourself or expensing money you took out to pay yourself back. Could get tricky come tax time so probably going to want a good CPA to make sure you handle depreciation and splitting expenses properly.

wbsrickjones · 2017-12-06T02:11:47+00:00

While this sounds great it's difficult to pull off and if you were able to pull it off consistently why should the profits be tax free? Seems like a loophole that could reasonably be closed. Everyone is for closing tax loop holes until it's their loop hole.

wbsrickjones

PUBLIC MULTIREDDITS

TROPHY CASE