School me on investing...

He won't need a contact for his truck. He has starlink and SpaceX.

 

yea that's the bread and butter, and (un)surprisingly, the one company that ain't public haha.

what might be interesting is if this persists with Tesla, what that does to the money owed on X and valuation of that collateral.

 

Anybody have any green tickers today? My energy and retail stocks are up, but any small gains getting destroyed by my tech holdings....

 

I have exactly one spot of green... ELF
Several buy limit orders getting close to tripping, so yay

 

Three greens so far, SJT, UPS and CURLF

 

Big risk if there had been multiple winners.

Trailing stops are your frens.

 

when to jump back into PLTR??? I'm thinking $60... probably still way high using any kind of realistic valuation

 

I think a cybertruck would be a good military vehicle in some uses.

Power a welder or some shit in the field.

Full torque curve and they're dead ass quiet with less thermal footprint.

Laugh all u want.

Or as a farm rig for killing hogs with a turret in the back. That would be tits.

 

Back in late January, I had a bad feeling looking at the market, the geopolitical landscape, the POLITICAL landscape, pulled up zillow and began looking at 3/2 1500 sf houses in Lubbock. Closed on the new rental property 1 month ago today. All cash, pulled the $ from S&p index fund account.

Sometimes they say that you eat the bear and sometimes the bear eats you.



I'm wondering if this pullback is going to drag the 500 down to 4000.

 

We were talking about it today at work (3 finance dudes). Eye balling the mean growth curve over the last 10 years, 4700-4800 "looks like" about where it "should be" honestly. I wouldn't be surprised at an over correction then normalization, but yea. That's my personal idea of a target based off nothing but a 5 minute spot look and sentiment. Further Trump trade or tax policy aside.

 

Having a cash renter or 2 ain't a bad deal at all

 

I sold our rental place a few years ago after we had it for ten years.

Good riddance to that bullshit.

 

so real talk, i might have an opportunity here in a year or two to turn my current place into a rental (or walk with the equity for the next spot, depending on what we decide). my mortgage v. avg. rental price for comps in my area is what i would think is a pretty decent return (call it 2500-2700 rent v. 1950 mortgage). i get margins, i get socking away for repair costs, etc... and i know you guys have talked rental stuff in other threads before, still, curious as to the why and your experience? you pay a rental company?

i know somebody personally who had deadbeat renters that worked the MD system for almost a year as he kept trying to evict them. that concerns me. my other concern is my townhouse being attached to others who have varying degrees of keeping their shit tip top and how it might affect mine long term (not property values, but more so if somebody had water leaks or termites or something). flip side, i know another guy with like 30 rentals. he doesn't manage them himself, but also doesn't seem to have a care in the world. i can't decide if its worth the long term hassle/profit or better to just forget it and walk with my money. on the fence.

 

1. My wife bought the house in 2006, so even though we had a good mortgage rate she paid way too much so there wasn't much profit to be had in the rent/mortgage spread. And there was even less when we refi'd the mortgage as an investment property (I think we technically were losing a couple hundred per month - something like $2K mortgage and we were getting $1,800).
2. Largely because of that, I decided to try and manage it ourselves because I didn't want to give 10% of the rent to a management company. While in hindsight it could be a PITA, it really wasn't that bad but it's just fucking annoying getting a text that "the heat's out" or some other shit while you're trying to relax. I've got three kids and a full time day job, so even though it wasn't that bad in hindsight, in the moment it felt awful.
3. I don't like the asymmetric payoff aspect of it. Best case scenario you're methodically making money while (hopefully) paying down some of the principal on your mortgage (but that largely depends on your mortgage duration and where you're at on the amort curve); worst case scenario you get a squatter you can't evict or someone who ruins your house and you could be shit out of luck. For my taste, that's too much idiosyncratic risk for someone doing it on a small scale basis. If someone gets large enough to diversify and have something like 30+ units where they can absorb some amount of that lack of cash flow than it makes it a lot more justifiable (IMO).
4. I like passive investing. I like to do my stupid little day job that pays me well for pretty easy work, and then when the day's over once every couple of weeks (honestly, large in response to people in this thread saying things were good or bad that day) I'll login to Fidelity and see how I did with my index only investments. Even if my equity portfolio got wiped out to zero tomorrow, I wouldn't need to put any money into that and could just be salty as fuckballs but still keep whatever cash I have. If you're a landlord, even if you've got a management company, you don't have that luxury (again, assuming it's a passive investment and you don't have dozens of properties). You've got someone's living quarters as YOUR responsibility, and if the house needs a new roof or a new heater or whatever, you're writing that check at 10:37PM on a Saturday night for $20K for a roof that someone else sleeps under. Fuck that shit (again, IMHO).

 

Crocodiles are smart, alligators are like dogs, lazy ,stupid, opportunistic

 

How much equity is in the house?

 

if you want to believe Zillow this morning... about $220k. what all the DC layoffs are gonna do over the coming year, hard to say, but currently supply is still down to the long term avg. and houses are still going under contract in 4-5 days around here. Our current thoughts on the matter are:

1) Taking that equity, renting, saving for another 2-3 years, buying a house outright in like Portugal, Spain, Italy, and then either perma-renting here, or buying something small here for part of the year.
2) Taking the equity and staying in MD, not sure honestly how I'd be buying anything we really want, maybe more toward the country but even that's expensive now. I refuse to have a $4k+ mortgage, even if we COULD swing it, just out of sheer principle and not being leveraged that hard given the general risk and lack of safety net of this country these days.
3) Renting this place out, staying in MD, renting for a while and saving the new 20% for something with the idea of a recession/correction looming, then buy.
4) Selling, taking equity, move/rent in Raleigh with the idea to buy there and get something we actually want in the price range we want (this is lowest on the list right now though).

I don't particularly want to be renting something from another country or even state far away, even though I know people do, so if we lean to the moving away route I feel like I'd probably sell it regardless. If we stick around though, not sure. Seems a shame to give something up that might clear $500-700 a month and has a 2.8% APR.

Roof and windows are about 10 years old, same with kitchen and bathrooms. About to drop the money on the HVAC here end of the month cause its going.

 

Ive a good buddy that we keep talking about some high end vacation rentals in Michigan on open water.

The kind that are 5-6k a week in the summer.

We want to start an LLC and go halves on it.