Hey reddit! There's been a crap ton of depressing threads lately so let's cheer each other up! What do you have that you're thankful for?

NoodleNinja13 · 24 days

My wonderful wife, friends, house, car, job, being able to program and get paid for it; my best friend's wonderful daughter, all my other friends' wonderful children. My dad, my mom, my inlaws, my uncles. My mechanic. Chefs and line cooks everywhere who don't microwave meals. Brewers; both the team and even more so guys that make beer.

AlexHDGamer · 1 month

As someone who has literally gifted you money (and no other caster!); /r/starcraft is harsh enough that as a casual player (read: Gold), I don't come here anymore. I showed up tonight because I kept checking youtube and you had nothing uploaded; comments were saying you had a heart attack so I figured I better check reddit... anyways. I have always enjoyed your casting; even when you get over excited and miss something.
When you did the work with lagtv; I was ecstatic.
I was going to make a point about becoming too analytical and boring, but I trust you not to go too far.
As someone who loves your work; I would just say 1 (one!) thing:
FFS keep your eye on the mini-map :-) it feels like you haven't been PLAYING sc2...

who_whom · 1 month

That's not bartering; how can he write an article with bartering in the title... He's also falsely referring to 'an ancient bartering system'.

Wescrewedup · 3 months

omg do not read that drivel.
busquep1's comment covers the rest.
You could possible re-amortize to lower monthly payments (would put you back out to 30 years though); this would give you some relief. The advice about your in-laws is sound too; even if its $100 a month rent, you need it.

Esquire99 · 4 months

I think they are great as long as you do the paperwork to actually make them your buying agent and not a sub-agent as Quaker mentioned. Until you do that they can still act in the interest of the seller.

NPPraxis · 4 months

That is indeed a great book. It should be required reading. I also found it easy to read; I'm working through it a second time taking notes so I can have the formulas down..

KAPT_Kipper · 4 months

do a kickstarter project. agree to print X people's printable parts if they chip in. You make your printer and tune/calibrate/learn it while printing the kits for your kickstarter investors. (search youtube for geodroidjohn he already did this and it is working out pretty well)

KAPT_Kipper · 4 months

Built mine for ~900.00, with options.

NPPraxis · 4 months

Have you calculated NOI, cash flow, etc (Sorry to throw terms around). You need to answer if it is a good investment by looking at how much cash comes in and how much cash goes out. Look up NOI and internal rate of return. Get a landlording book...

fishy007 · 4 months

Unless Canada is different (?)
I can answer for USA.
Your check is scanned to a digital image which the fed now accepts.
A wire is sent to the fed (as part of a large set of them) that money will be moving. The fed does the same to the receiving bank the next day.
Your money is then held to earn interest for the other 3 days :-)
Note this assumes Canada is the same, it used to be the length it took the physical check to make it's way there, etc. I work on the machines that scan the checks :-)
Note: this assumes no bank to bank relationship. They can optionally discard the check and inform each other of the change....

leeeroyjenkins · 4 months

$449K house? (assuming you put 25% down and need 337K).

leeeroyjenkins · 4 months

How big a mortgage are you going for that you are scared about getting it and you are putting 25% down?
Sounds like you are buying a bit too expensive of a home for your incomes?

Wheelman · 4 months

This is where I stop reading and say 'oh, sigh'.
You are answering each question with adjusted numbers that make the idea work out in that scenerio. Profits for your investors? More expensive house. Bad home improvement estimates? Less expensive house, we own tools. You don't honestly seem to be looking for insight about feasability.
That said, it is impossible to give you much information because you are so fast and loose on your numbers. What neighborhoods? What improvements to homes in those neighborhoods actually need? What budget? 100 to 200k is a huge range. Your math is back of napkin instead of spreadsheet/formula.
I think it is an idea that can work, but I don't think it is going to work for you at this point because you are emotionally talking yourself out of some of the risks instead of removing them through diligence.
Maybe http://www.amazon.com/gp/product/B004BKIEUS/ref=kinw_myk_ro_title will help you?
I'm not sure that is even the right book; but my answer remains it isn't going to work without more diligence and you need to be real about the possible loss when paying back your investors causes your gains to go negative.

The-Dudemeister · 4 months

Actually I put repair costs/etc into my calculation. I did a Cash Flow calculation with some basic estimates; then sent the user a message that better math can be done with more information.
Further; a bad tenant is a separate problem that should be accounted for in all real-estate deals. Her math could include handing the renting process over to a property management firm.
You sound like something bad happened and you are bitter.

The-Dudemeister · 4 months

They could talk to a realtor in that market and see how it is recovering; even if it means adding 1% to the value for each year. Then they can work out NOI, etc and convert that to present value and see what the picture looks like for various years. The solution may be "we're f'ed, take the loss"; but I'm not going to pretend to know it without investigating. It is a lot of money, so it is worth some leg work.

toolbagjnz · 4 months

if you have an android phone, you can get the karl's mortgage calculator app and play with the options on your mortgage all day. You can instantly see amortization chart, savings from extra payments, etc. You can even put in various extra payments/lengths (100 for month 1, 150 for month 2, 75 for 10 months, etc)

The-Dudemeister · 4 months

Yeah, I sent him a message about including more info so that cash flow/noi/etc could possibly be calculated. She may have no idea about the tax implications... hope he your post.

goggris · 4 months

While it is good insight...
You should already be aware of the seller's position - what is the house valued at; what did it sell at last time.
You stated that you offered near comps - well; that is what mortgage you are going to get; so that is where you are stuck unless you plan to make up the difference with down payment. Bank may still not be happy.
Lots of good advice here; but consider your mortgage and how the appraisal will come out (prob appraise right near comp price).
All that said; if it is a house you love, it is worth some negotiation. Start putting things in your offer like a home warranty ($5k more, but seller includes a home warranty for the buyer, etc).

The-Dudemeister · 4 months

When I did the math she would be losing about 1200 a year assuming she can get 900.00 rent and didn't put anything down. Losing 100.00 a month to buy equity while waiting for the market to recover isn't that bad.
It sounds like you are asking for a magic bullet response though. The answer is she should do the math and decide to walk away or work on lowering the expenses. Assuming a 773.00/month for the 144k mortgage; if she re-amortized back out to 30 years (call bank, talk to them about having it down); then the payments would be about 700.00 a month; removing another 75.00.
As usual with my advice; the best bet is a table, a sheet of paper, a calculator and a pencil. Work out the math; be an adult and walk away with a loss if it doesn't work out. Just make sure it's a loss you are walking away from; the math may show that renting at a loss for 5 years then selling at value X will gain her a net profit still.

chad4charlie · 4 months

wow, you were at 96 earlier today. Very strange; depending on how many posts you have out there; it probably fluctuates daily.

chad4charlie · 4 months

You're almost there; tried to help out.

chad4charlie · 4 months

You could include questions on calculating mortgage payments, APR, APY, Net Cash Flow, etc.

Youngpada1 · 4 months

You sound like you are forgetting property taxes.

OnVeryThinIce · 4 months

I'm actually working on a small website that is just worksheets for those formulas. Interesting to see it posted.

schmeryn · 4 months

I see him alot along 1st street; south of horny goat.

georgefrick

TROPHY CASE

georgefrick

TROPHY CASE

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