Recent Posts

1

Managing And Investing In Physical Real Estate / Re: Selling bay area house vs holding on

« Last post by couchfi on Today at 01:13:30 AM »

@nmalik what did you decide to do?

@Sam why do you think it's better to hold? I'm currently in the middle of this decision (except I have an SF condo rather than an house, and moving into a house), and to me selling and diversifying that cash in realestate crowdfunding and maybe a rental property or two in a low cost of living area with good cap rates seems like a better deal. Sure I lose 5-6% from selling costs, but I'll still lock in a gain now to reinvest and diversify.

Property prices are very high already in SF and I would barely break even on rents, having two large mortgages in this market during a down turn would wipe out any existing gains and probably force me to pay into the rental property when rents also drop during a recession. To keep a rental at this stage of the real estate cycle, I'd want to have a good amount of buffer for cash flow.

2

Family Finances / Re: Do you send your parents an "allowance" or provide other financial support?

« Last post by couchfi on Today at 12:52:16 AM »

I buy my parents flights when they visit me, and gift them a few grand each year to help catch up on their retirement savings. They're very frugal and can support themselves through retirement, but they never learned to invest (and stubborn about it!) and keep most of their money in cash just getting inflated away, so I always gift stocks and tell them to keep it that way until they're closer to needing it. It'll be a struggle when they're older or sick and I really have to take over.

My wife's parents are older, retired and we support them financially almost entirely (food, shelter transportation etc), in return they help raise our child and save on some day care costs (apparently this is common set up among asian american immigrants like us). Luckily medi-cal is actually pretty good, otherwise we'd have to pay for their health insurance as well. They're much more reasonable people to deal with, but it helps that my wife and I both have good incomes and can still maintain a decent savings rate. Otherwise if budget got tight this set up would not work at all and we'd have to move to a lower cost of living area or have much longer commute in the bay area.

3

Engineering Your Layoff / Re: About to engineer my layoff need feedback

« Last post by Cindy on September 18, 2019, 08:51:57 AM »

17 years is a great career! Let me know of any specific questions you have after reading my book. I’ve spent six years in crafting the book and I’m still working on it for a new addition at the end of this year.

Hi Sam,
I want to purchase your book and just read this.  Is the version out now the new edition you mentioned you are working on at the end of the year?  If not, when do you expect it will release?

Thanks,
Cindy

4

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by JD on September 18, 2019, 06:58:11 AM »

Since there's so much negative information on here, allow me to add a positive. 1575 Grant Road paid off in full (the original preferred equity amount plus the accrued preferred return), and I received the proceeds in my bank account today. 1575 Grant Road was a single-family remodel that went into payment default in June. IRM worked with them to give them breathing room to re-finance the project, and it paid off.

That is great to hear, thanks for sharing.

On a similar note, has anyone in Chantilly Road (babets) or River's Edge (DigitalNomad) received their principal back yet? I received an interest payment for Chantilly yesterday but no principal yet, which seems odd.

no I havent received the principal back yet. To note, we should receive principal plus accrual of 4,5% yearly so more than just the principal. In the memo sent however they mentioned it takes 15/20 days to receive it so we should wait another couple of weeks. I think it is because is not a regular distribution.

However one weird thing happened to me. one of my payment marked as "failed" (not chantilly rd). when I contacted RS about it they made me set up again my bank details (which have not changed). so be on alert if you see a payment marked as failed you need to contact them and reset your bank details even if they have not changed. I guess is a glitch but wanted to let everyone know.

That is good to be aware of the failed payment and good point on the 4.5% accrual. I was wondering if something like the bank account instructions for me had done something similar but sounds like I should be okay.

5

Family Finances / Re: How Much Racism Would You Subject Your Children To To Build Character? Virginia

« Last post by Leigh on September 18, 2019, 06:36:52 AM »

I would not risk my child's education to expose them to situations which might help form character. What I would do, and did, was make sure they spent time in developing countries helping others.

My child went to costa rica at the age of 15 and worked with children under the care of a couple who lived there and worked in the community. She came home forever changed. While she is a die-hard capitalist, her views on helping others, non-judging, minimalism, etc were formed during her time there. Nothing like seeing a gang of youth kicking a piece of styrofoam in place of a soccer ball to alter your world view.

6

Family Finances / Re: Do you send your parents an "allowance" or provide other financial support?

« Last post by Leigh on September 18, 2019, 06:32:53 AM »

I mentioned this in another thread. We pay a weekly laundry bill so my 88 year old Dad doesn't have to their laundry. I worry about him falling. I put their cable, credit card bill and others on auto-pay and I make sure they are all in order.

I also invest their money, redirect any called muni-bonds, have all banking documents sent to me, and try to keep as much financial data out of their hands. I do this because my mama has dementia but thinks she can still manage. She can't.

I made sure I had a power of attorney and had copies of every pertinent document. I wish I had done this earlier. Once I set up online credit card account, and searched for continuity charges, I found $275 per month where they were paying for things for which they had been scammed.

When I speak to adult kids with an elderly parent, that is one of the biggest ideas I push. Get an online presence with your credit card. The elderly fears it will make them vulnerable. I tell them "Your credit account is ALREADY on the computer, you're just the only one who can't see it!" Continuity charges go unchecked for years.

Sorry, I got carried away, LOL. It's a hot topic for me. 

7

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by babets on September 18, 2019, 06:32:48 AM »

Since there's so much negative information on here, allow me to add a positive. 1575 Grant Road paid off in full (the original preferred equity amount plus the accrued preferred return), and I received the proceeds in my bank account today. 1575 Grant Road was a single-family remodel that went into payment default in June. IRM worked with them to give them breathing room to re-finance the project, and it paid off.

That is great to hear, thanks for sharing.

On a similar note, has anyone in Chantilly Road (babets) or River's Edge (DigitalNomad) received their principal back yet? I received an interest payment for Chantilly yesterday but no principal yet, which seems odd.

no I havent received the principal back yet. To note, we should receive principal plus accrual of 4,5% yearly so more than just the principal. In the memo sent however they mentioned it takes 15/20 days to receive it so we should wait another couple of weeks. I think it is because is not a regular distribution.

However one weird thing happened to me. one of my payment marked as "failed" (not chantilly rd). when I contacted RS about it they made me set up again my bank details (which have not changed). so be on alert if you see a payment marked as failed you need to contact them and reset your bank details even if they have not changed. I guess is a glitch but wanted to let everyone know.

8

Family Finances / Re: Why do people without children pretend to know how it is to raise children?

« Last post by Leigh on September 18, 2019, 06:26:56 AM »

This person doesn't want children, vehemently doesn't want children. Mothers are seen as being a mother only during the time of 'raise and get them out the door' then they are no longer a 'mother'. During that raising time, they lose everything about themselves and become pathetic. People who wear a baby in a baby sling look disgusting.

Pretty much what was spoken.

I'm a mother. I'll always qualify to sheepishly stand up in a church that has a 'Mother's Day' recognition, "Would all the mothers, or mothers to be, please stand and let us recognize you', wearing my red flower which signifies my Mama is still living, an old southern tradition. I celebrated my children. It was the best years of my life. I hated when they left for preschool and found ways to break them out early to go to the museums, plays, hikes up mountains, or fishing. I miss those days so much it physically hurts and can't wait until my own have babes I can love and 'celebrate'.

I guess that made me pathetic. I recognize that same in you, Sam, and I have no doubt you are celebrating your young one every day.

9

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by JD on September 18, 2019, 04:46:47 AM »

Since there's so much negative information on here, allow me to add a positive. 1575 Grant Road paid off in full (the original preferred equity amount plus the accrued preferred return), and I received the proceeds in my bank account today. 1575 Grant Road was a single-family remodel that went into payment default in June. IRM worked with them to give them breathing room to re-finance the project, and it paid off.

That is great to hear, thanks for sharing.

On a similar note, has anyone in Chantilly Road (babets) or River's Edge (DigitalNomad) received their principal back yet? I received an interest payment for Chantilly yesterday but no principal yet, which seems odd.

No I haven't received my principal yet.

Thanks.

Their 15-20 business day timeline is rather dubious if they are saying it was paid off on 08-09 but maybe they mean 15-20 from the notification date.

10

Real Estate Crowdfunding / Re: Thoughts On RealtyShares Closing Its Doors To New Investors

« Last post by rs_thoughts on September 17, 2019, 04:29:29 PM »

hi ramesh

i know you pointed to that portion of text where they would hold the first lien rights. But their final statement about sending to a "debt collection agency" almost implies they have categorized the missing principal as just some liability on un-secured credit. Otherwise, why send it to a collection agency? Just exercise your right on the property and hold them to the fire. nothing is really clear.