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fareastwarriors

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    Have We Hit The Top?

    in General Discussion

    Posted · Edited by fareastwarriors

    2 hours ago, ValueArb said:

    I am so old I remember paying under $3 for her Taco Bell order.

     

    It just means you don't eat at Taco Bell....

     

     

    IMG_3229.png

     

     

    3 items plus a drink for $8 in California. Solid deal still. Way better than the $15+ Big Mac 🍔combo...

    David Gottesman, a Top Buffett Investor and Friend, Dies at 96

    in Berkshire Hathaway

    Posted

    Doctor gifts Bronx medical school $1 billion to cover tuition for all students

     

    https://www.nbcnewyork.com/news/local/doctor-gifts-bronx-medical-school-1-billion-to-cover-tuition-for-all-student/5170432/

     

    The $1 billion donation was made possible by Gottesman's late husband, David Gottseman, also known as Sandy. Her late husband died in 2022 after a long career in Manhattan working at investment firms, according to The New York Times.

    HELOC arbitrage

    in General Discussion

    Posted

    1 hour ago, RedLion said:

    This is my goal. Not quite there yet. 

     

    Well I also live a simple life with no expensive hobbies so I don't need high current income to live well.

     

    With that said, my spouse is going back to work after being laid off and looking for work for past year. That will certainly help use up a bit of the losses.

     

    Sorry, not helping CA's budget deficit!  

    HELOC arbitrage

    in General Discussion

    Posted · Edited by fareastwarriors

    3 hours ago, Dinar said:

    You guys do not take into account taxes.  Paying 3-4% interest that is not deductible to receive 5-6% that is taxable depending on your tax bracket could be a negative cash flow event.

     

    Yup, I do. I have Real Estate Professional status with plenty of "losses" so I essentially pay very little to no income tax

    Life's pretty ok. 🙂

     

    (But I understand not everyone is in similar boat.)

    HELOC arbitrage

    in General Discussion

    Posted · Edited by fareastwarriors

    2 hours ago, tede02 said:

    I was excited about this but I'm having a tough time finding local credit unions with the promotional rates. For any New York state residents, there is a CU offering 12 months at 0%. Not sure what the closing fees are. Sidney Federal Credit Union. 

     

    oh lol. Thought you already had those offers available when you made this thread.

     

    I also pick up like $4k last year doing bank and brokerage bonuses using my name and the spouse. 

    https://www.doctorofcredit.com/best-bank-account-bonuses/

     

    (FYI, I do these even if the $300 deal won't make a difference in my life because I enjoy it. )

     

    HELOC arbitrage

    in General Discussion

    Posted

    22 minutes ago, tede02 said:

    Using HELOC financing to buy promotional CDs or Treasurys looks interesting. I think there is a narrow window to take advantage of this risk free (I expect the Fed to cut rates over the next year). There are some credit unions offering 6-12 months of 0% on HELOCs. Likewise, 12-14 months CDs are plentiful at 5.5%. There are some credit unions offering specials over 6% (more restrictions generally). You do need to look carefully at the fine print on the promotional HELOCs because there can be significant fees. But, if a guy could get $200k at 0% and reinvest at 5.50%, that is interesting, even if you have $2k of closing costs. Curious if anyone has done this. 

     

     

     

    If you're on top of things and don't need to borrow money in the near term, it's not a bad way to make some interest arbitrage money. 

     

    I did it with HELOC and PLOC during covid times and doing some with 0% APR credit cards. 

    Large house

    in General Discussion

    Posted

    I live in 1,900 square feet.

    3 bedrooms, 3 bathrooms, 3 people.

    Sometimes it feel too big already. Too much work(lazy) to keep up with cleaning. 

    Have everything I need and pretty much most of what I want. Life's good. 

    Have We Hit The Top?

    in General Discussion

    Posted

    17 minutes ago, RedLion said:

    I think our bigger problem right now is that the entire younger generation want to be influencers rather than pickup any of the highly paid trades right in front of them. 

     

    Where are the parents in all this? Most of my family are in construction, mainly residential. None of them want their kids in construction. They rather their kids work at a mall in a clean environment and make minimum wage than work in their own line of work.  They are almost all sending their kids to college instead of having them come join the trade. For the non-college route, those "kids" are mostly chilling at home.

     

    None of them doing bad either. Pretty much everyone is making $100k+ in mostly cash/checks but none of their kids are even close to a construction site.

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