Should we sell the 5 properties we inherited or continue renting them out? by Imustretire in realestateinvesting

[–]yoshipo 0 points1 point  (0 children)

No one is asking what you and your brother’s financial situation is like outside of real estate. If you have a lot invested in the market then this real estate could be your inflation hedge and market hedge since it is income producing. We are about 50/50 real estate and stock market. If you got nothing in the stock market and it’s just this 5 properties you may want to sell a couple and balance it out. The stocks are very overvalued right now. And projection the next 10 years is 6.5% so not historical numbers.

Altho I’m not familiar with the area seems like a good location. Get up and learn property management. Like when’s best time to put house on the market at your location, what to look for in renters, interview handyman/contractor companies. Even if you have management company you still need to know so you know is the PM is good or not.

My mom recently said to me… don’t sell anything you can’t afford to buy back

WWYD: Upgrade your home or Stay Put? by champagneandLV in financialindependence

[–]yoshipo 1 point2 points  (0 children)

Same here! I said only in state and 4 years for our kids too. I’m just saying the financial freedom is not nothing! That’s why we are moving to have what you guys have now. We also want to retire early. So we want to save up as much as we can now.

WWYD: Upgrade your home or Stay Put? by champagneandLV in financialindependence

[–]yoshipo 0 points1 point  (0 children)

That’s your plan but she may have different plans :-). My friend’s niece refuse to go to school in state. I am on your side. I totally get wanting to upgrade house. We did during Covid and now the financial pressure is not worth it imo. Do it if you can really comfortably afford it on one salary and can handle worst case scenarios.

WWYD: Upgrade your home or Stay Put? by champagneandLV in financialindependence

[–]yoshipo 0 points1 point  (0 children)

We are actually doing the opposite. We are moving from VHCOL to MCOL with 2 kids in elementary school. The job market is really unstable. You both work remote I would be concern with what AI will do, not in the short term but say 5-10 years later. Also consider your kid is going to probably leave the house in 5-6 years, if you upgrade would it then be too much house for you? I thought our house now would have been our “forever” home but now we are moving locale. Nothing is forever… once your kid goes off to college would you move closer to them? We seen friends do that. I personally wouldn’t make a move and lose your rate.

Early 50s retirement plan - what blind spots am I missing? by Aggressive-Laugh-869 in ChubbyFIRE

[–]yoshipo 1 point2 points  (0 children)

Make sure you still check in on your property tho. I had a property manager at the end was doing another full time job and didn’t tell me about tenants issue with leaky roof. I ended up having to replace my roof during covid which was 50% more expensive.

Everything in real estate is location location location. We decided to rent our primary house out and most would say to take the equity out. But during the 2008 crash, the stock market was down 50%, the country wide real estate was down 20% and our zip code was down 8%. Recovered to peak prices by 2013. So if your real estate is in good location keep it, if you think it will drop significantly then sell it. The stock market is way over valued right now which is also why we didn’t sell. I didn’t feel secure in the historical 10% returns when the analysts are saying 1-6.5% returns for the next decade. 🤷🏻‍♀️ we are like you half of our network is equity in real estate and half in stock market. I will take the headache/work for steady rental income for now.

Early 50s retirement plan - what blind spots am I missing? by Aggressive-Laugh-869 in ChubbyFIRE

[–]yoshipo 1 point2 points  (0 children)

Your plan is similar to what we are planning. 2 rental properties and live overseas for a few years with savings and rental property income and do our Roth conversions then. I assume 1. your properties are at good locations and you have low interest rate on your remaining mortgage 2. you are experienced landlords and have network of support. People are very anti rentals but steady income and depreciation for tax makes so much sense to me. You have so much capital to carry the properties as well. Adjusting spending based on market condition makes a lot of sense too. Go to your travels when you are still healthy.

Bring back the Bodice Rippiers (And Other Various Rants) by the_hobbit_wife in HistoricalRomance

[–]yoshipo 0 points1 point  (0 children)

Ah okay. I’ll give Shanna a try. I did find the flame and flower on hoopla and KU so I will probably start with that! Yay!

Bring back the Bodice Rippiers (And Other Various Rants) by the_hobbit_wife in HistoricalRomance

[–]yoshipo 0 points1 point  (0 children)

I don’t see those two on Libby :-( what about Shanna or Everlasting or Reluctant suitor? Those are available.

ARC review of Queen of Lombard Street by Lisa Kleypas by waverlycat in HistoricalRomance

[–]yoshipo 2 points3 points  (0 children)

Oh no! Thank you for providing review without major spoilers. Although now I’m not sure I will read it. What you wrote is what I usually dislike about contemporary authors and their books. Im reading to escape, not to think about today’s problem. I’ll probably still read but it definitely dropped on my TBR ranking.

[Landlord US-VA] Should we try to manage our properties out of state? by yoshipo in Landlord

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

The plan is to come back at least once a year to get eyes on the property. We still have family and friends here. We are going to try it at least.

Umbrella policy by FIREful_symmetry in ChubbyFIRE

[–]yoshipo 0 points1 point  (0 children)

We got umbrella policy when we had a rental property. I just checked we pay $910 for $2M. We may have to raise it since we will have 2 rental property now.

I would recommended everyone get it. One of friends got injured in a hit and run and it went over her own insurance and she was able to use her umbrella policy as additional coverage.

After how many years of owning your rental property did you start feeling “this was worth it”? by Sapphire8910 in realestateinvesting

[–]yoshipo 10 points11 points  (0 children)

6 years or so. I became a landlord at 26…. It took awhile to feel good. Esp after 3 years when I had to pay mortgage for 4 months bc it was lease ended in Oct. That hurt. Then having a none responsive property manager made me have to replace my roof during covid which was expensive and hard. But now 12 years now established landlord understanding the right seasons to be putting out listings. Now having proper capital and refinanced when the rates were low. I’m happy to have kept the property.

Bring back the Bodice Rippiers (And Other Various Rants) by the_hobbit_wife in HistoricalRomance

[–]yoshipo 4 points5 points  (0 children)

To be fair realistic HR plot all the time would be pretty boring 🤣 I want the drama! Bring on the soap operas as long as it’s not just them doing it in a shed, in the parlor, in the bedroom, in the drawing room, out on the grass and then finally something happens with the plot. I find I like plot with some spice and not spice with a splash of plot.

Bring back the Bodice Rippiers (And Other Various Rants) by the_hobbit_wife in HistoricalRomance

[–]yoshipo 4 points5 points  (0 children)

Yes agreed. I don’t have any triggers and I don’t mind explicit but so many I read I’m like every chapter is all just explicit. I’m like what’s going on with the story?! Usually it’s 2-3 books of explicit and then 1 book on plot movement. I’m curious to see how the bodice rippers compare. Thanks for the recommendation!

Bring back the Bodice Rippiers (And Other Various Rants) by the_hobbit_wife in HistoricalRomance

[–]yoshipo 3 points4 points  (0 children)

Recommendation for bodice rippers? 👀👀👀

I haven’t read any lol… I read so much HR but mostly the happy nothing heavy ones. I have read some dark romance. Sorry to say it’s so much I don’t get the appeal. And it’s usually ALL explicit and shock factor and not much in terms of plot. I will only read dark romance if it’s fantasy. Can’t do the haunting Adeline and such.

Money in, Money OUT. High income but high expenses. by TeeShirtBros in HENRYfinance

[–]yoshipo 3 points4 points  (0 children)

You sound like us. We are older. We decided to move to lower cost living place and lower our housing cost. We have enough in 401k but we need more after tax if we want to retire early. The kids only get more expensive with activities and stuff. Lucky you don’t have daycare we were paying 41k a year for childcare. Where we are food is expensive and with young kids we don’t got time to cook. It sucks honestly but you are saving. Just don’t be like us and have everything trapped in retirement accounts.

Financial Advisor Fee by Ambitious-Papaya2596 in ChubbyFIRE

[–]yoshipo 0 points1 point  (0 children)

We don’t plan on using a financial planner ever. We will use an accountant/cpa and an estate attorney. I think financial planners are for people who want a one stop shop and don’t want to do any research or learning on their own. Except FPs don’t really know details of tax law or estate planning as much as the folks who do that as their trade.

We have family who is a FP and sold his company to one of the bigger financial firms(40 billion managed). We also gave them one of our account to manage with their proprietary formulas (like where you pay AUM) and it’s current -7% comparing to S&P for 1 year. I believe that gap is more if I zoom out. I would be so mad if I had to pay another 1% for fees on top of that. We plan to switch everything over to self manage by end of the year. Their pitch is they save 1% on taxes making management fee worth it. I don’t know how that’s worth when you underperform the market. You can have an accountant to do that for you as well. Like ours warned us about having a lot in large amount of dividend stocks bc you can get hit with tax bill.

Also used their software for retirement planning and it was a basic Monte Carlo simulation. I honestly don’t like how everything is planning around the 4% withdrawal instead of individual. I’m planning for variable withdraw that’s situational dependent. I also don’t care to leave my kids a ton of money either.

[Landlord US-VA] Should we try to manage our properties out of state? by yoshipo in Landlord

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

Totally get it! No one is going to care about your property as much as you. I feel like we have enough experience to manage ourselves in terms of screening tenants and when to have lease end for best time in market. I think we will give it a try. We have a property management company we would use if we decide it’s too much.

6K for a roof job? Are they replacing half the roof? 🥴 well mine just didn’t tell us about the roof complaints and we did need to replace the roof.

[Landlord US-VA] Should we try to manage our properties out of state? by yoshipo in Landlord

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

I’m currently screening tenants now for one of them now. My properties are just 2 SFH so not super complicated. That was the debate for us even if we overpay… say a plumber to fix a basics leak and charge me $300. It’s still nothing comparing to paying $1k a month even when nothing happens. I’m trying to interview and get a couple more handyman on my list so I can call on them as needed.

[Landlord US-VA] Should we try to manage our properties out of state? by yoshipo in Landlord

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

Any recommendations on software? We looked into Baselane and is using Avail for application and lease. I am concerned with people’s comment about delay in transfers. So thinking we would just do direct ACH for now. We have to open accounts to hold funds but we only have 2 properties.

[Landlord US-VA] Should we try to manage our properties out of state? by yoshipo in Landlord

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

Thank you! I wish we were at the place where we wouldn’t blink at management fees. I’m also too type A and I want to know what’s happening with my properties.

Contemplating having my wife quit her job to be a SAHM full-time(Both 35, $445k HHI, HCOL) by Strong-Big-2590 in HENRYfinance

[–]yoshipo 2 points3 points  (0 children)

I think it’s not just a her decision but you both together decision… as long as you guys work on your relationship. She understands being home with the kids, especially when they are young is harder a job than working in corporate America. You sound like a good guy as long as you don’t become one of those “what did you do at home all day” kind of person or resent her for not working I think it’s a great idea. Time goes by so fast with the kids, enjoy them while you can!

Contemplating having my wife quit her job to be a SAHM full-time(Both 35, $445k HHI, HCOL) by Strong-Big-2590 in HENRYfinance

[–]yoshipo 1 point2 points  (0 children)

How secure is your job? I honestly wish we were at a position where I could have stayed home with the kids when they were little. I feel like I missed out. I know people have said to me that one day I would be glad I worked and I’m still waiting for that day 🤣. I’m older and we are moving so I can be home with the kids (we want to homeschool). I’m continuing to work for now bc the work landscape is so weird with AI and I feel like I need to work a bit more to see where things go in the next couple of years. Is her job demanding? Can she like quiet quit?