Investing General Discussion

Pops · Apr 15, 2020

Today's action, TSLA up and SPCE up. Everything else down.

Khane · Apr 15, 2020

Sanrith Descartes said:
The only business dirtier than politics is finance.

Family Law is dirtier than both of those. Ever met a divorce attorney? But Politics, Finance and Family Law? Now we have a Triumvirate!

Sanrith Descartes · Apr 15, 2020

Khane said:
Family Law is dirtier than both of those. Ever met a divorce attorney? But Politics, Finance and Family Law? Now we have a Triumvirate!

Did I ever mention I have been divorced? Nuff said.

Hateyou · Apr 15, 2020

Sanrith Descartes said:
Did I ever mention I have been divorced? Nuff said.

I don’t understand how you have money to be investing.

TomServo · Apr 15, 2020

So question for y'all. How vulnerable is U.S. bank to this current situation?

Pops · Apr 15, 2020

They are in far better shape than 2008. But as vulnerable as everyone.

Furry · Apr 15, 2020

The size of the cancer is possibly worse than 2008, but the banks all see it coming this time and are preparing for a storm. Lots of unknowns at this point. Almost certainly will be a bad year for a lot of banks, but likely survivable for most.

Sanrith Descartes · Apr 15, 2020

grumblethorn said:
So question for y'all. How vulnerable is U.S. bank to this current situation?

After 2008 crash, banks were subjected to strict-ish guidelines to make sure they weren't fragile houses of cards any more. They are stress tested regularly. From a balance sheet point of view, most are in rock solid shape. That doesn't mean they aren't going to be hurting from defaults and 0 interest environment, but from a solvency issue they are more solid than some other industries because they have been watched over the last decade. The last couple of days when they reported earnings they were averaging taking 5b in reserves against projected defaults on loans and mortgages. Its the main reason their earnings sucked. And yet they all reported positive profit even after those 5b reserves. That should tell you about their balance sheets.

Sanrith Descartes · Apr 15, 2020

Question to those who own rental property. Not to be a ghoul, but i am expecting some serious defaults on single family homes in the next 6-9 months. I am considering finding an upscale property or two and scopping them up for rentals. I'm not looking to get rich on them, but pay the mortgage/taxes/insurance and have enough set aside annual maintenance and a property Mgr company. I can use the depreciation and other deductions to save me money on my normal income.

Thoughts/comments

Blazin · Apr 15, 2020

Sanrith Descartes said:
Question to those who own rental property. Not to be a ghoul, but i am expecting some serious defaults on single family homes in the next 6-9 months. I am considering finding an upscale property or two and scopping them up for rentals. I'm not looking to get rich on them, but pay the mortgage/taxes/insurance and have enough set aside annual maintenance and a property Mgr company. I can use the depreciation and other deductions to save me money on my normal income.

Thoughts/comments

Don't you live on long island? NY housing prices coupled with high RE taxes would make this a giant no go for me.

LachiusTZ · Apr 15, 2020

Sanrith Descartes said:
Question to those who own rental property. Not to be a ghoul, but i am expecting some serious defaults on single family homes in the next 6-9 months. I am considering finding an upscale property or two and scopping them up for rentals. I'm not looking to get rich on them, but pay the mortgage/taxes/insurance and have enough set aside annual maintenance and a property Mgr company. I can use the depreciation and other deductions to save me money on my normal income.

Thoughts/comments

It's a great idea imo

I'm going to look in a couple specific areas that I'm comfortable with. Going to get at least 1 in the next year

Sanrith Descartes · Apr 15, 2020

LachiusTZ said:
It's a great idea imo

I'm going to look in a couple specific areas that I'm comfortable with. Going to get at least 1 in the next year

I figure my long term goal is to buy a house I intend to live in at some point when I finally retire.

Sanrith Descartes · Apr 15, 2020

Blazin said:
Don't you live on long island? NY housing prices coupled with high RE taxes would make this a giant no go for me.

I should have been more clear. The day my daughter graduates from High School my ass is out of here and back down South where I belong. Fuck buying rental property in NY. Squatters have more rights than the owner does here.

I'm looking at Jacksonville and Dallas areas at the moment. Leaning toward Jax because the value is a good 10-15% better than Dallas.

Blazin · Apr 15, 2020

Sanrith Descartes said:
I should have been more clear. The day my daughter graduates from High School my ass is out of here and back down South where I belong. Fuck buying rental property in NY. Squatters have more rights than the owner does here.

I'm looking at Jacksonville and Dallas areas at the moment. Leaning toward Jax because the value is a good 10-15% better than Dallas.

I grew up on Long Island, leaving NY one of the best life choices I ever made.

Fogel · Apr 15, 2020

Sanrith Descartes said:
I should have been more clear. The day my daughter graduates from High School my ass is out of here and back down South where I belong. Fuck buying rental property in NY. Squatters have more rights than the owner does here.

I'm looking at Jacksonville and Dallas areas at the moment. Leaning toward Jax because the value is a good 10-15% better than Dallas.

Why not St. Augustine? I was there looking for houses last year and it's gorgeous and not too far from JAX

LachiusTZ · Apr 15, 2020

Sanrith Descartes said:
I should have been more clear. The day my daughter graduates from High School my ass is out of here and back down South where I belong. Fuck buying rental property in NY. Squatters have more rights than the owner does here.

I'm looking at Jacksonville and Dallas areas at the moment. Leaning toward Jax because the value is a good 10-15% better than Dallas.

I live in DFW now.

Couldn't imagine retiring to here

TheBeagle · Apr 15, 2020

Sanrith Descartes said:
I should have been more clear. The day my daughter graduates from High School my ass is out of here and back down South where I belong. Fuck buying rental property in NY. Squatters have more rights than the owner does here.

I'm looking at Jacksonville and Dallas areas at the moment. Leaning toward Jax because the value is a good 10-15% better than Dallas.

Stay out of Dallas County and look next door at Tarrant County.

taebin · Apr 15, 2020

Or Collin County. I'm out in Prosper and it's pretty nice, other than Dak throwing parties and getting TMZ crews showing up.

Khane · Apr 15, 2020

Blazin said:
I grew up on Long Island, leaving NY one of the best life choices I ever made.

Same, and as soon as I got back from college I realized I could not wait to leave that hell hole.

Furry · Apr 15, 2020

LachiusTZ said:
I live in DFW now.

Couldn't imagine retiring to here

I'm in DFW. I will not be here when I retire. Not bad while I'm not retired though.

Investing General Discussion

Avatar of War Slayer

Got something right about marriage

You have insufficient privileges to reply here.

Not Great, Not Terrible

Avatar of War Slayer

🌭🍔🇺🇦✌️SLAVA UKRAINI!✌️🇺🇦🍔🌭

You have insufficient privileges to reply here.

You have insufficient privileges to reply here.

Creative Title

Rogue Deathwalker Box

You have insufficient privileges to reply here.

You have insufficient privileges to reply here.

Creative Title

Mr. Poopybutthole

Rogue Deathwalker Box

JunkiesNetwork Donor

Same trailer, different park

Got something right about marriage

🌭🍔🇺🇦✌️SLAVA UKRAINI!✌️🇺🇦🍔🌭