So investment firms buying SFH are actually helping you financially?!?!

Started by mkd, April 29, 2024, 08:29 PM

Previous topic - Next topic

0 Members and 1 Guest are viewing this topic.

Go Down Pages 1 ... 3 4 5 6

mkd

#60
May 03, 2024, 03:40 AM
Quote from: Del. on May 02, 2024, 06:04 PMI started in the coal mines in January of 1979. I was making $8.09/hr. That was top money around here for a blue collar worker.
inflation adjusted to 2024, that's good money!
Like Like x 1 View List

Incogneeto

#61
May 03, 2024, 03:52 AM
Quote from: mkd on May 03, 2024, 03:40 AMinflation adjusted to 2024, that's good money!

Yea But , He "sold his soul to the company store" :)
Like Like x 1 Funny Funny x 3 View List

rdshear

#62
May 03, 2024, 05:06 AM
Quote from: Incogneeto on May 03, 2024, 03:52 AMYea But , He "sold his soul to the company store" :)
All while getting "another day older and deeper in debt"...   :lol:
Like Like x 2 Funny Funny x 2 View List

gcode

#63
May 03, 2024, 05:21 AM
MY first real job was washing dishes at Cocos $.85/hour 1972
My first job in a machine shop was a drill press operator $1.10 /hour
A friend got me a job at Coors Container, working on the can line @ $4.72/hour
That was really good pay back then. Men raised families on wages like that.
It was an awful job though.

Del.

#64
May 03, 2024, 05:55 AM
Quote from: mkd on May 03, 2024, 03:40 AMinflation adjusted to 2024, that's good money!

What would that be today MKD?

neurosis

#65
May 03, 2024, 06:16 AM
Quote from: Del. on May 03, 2024, 05:55 AMWhat would that be today MKD?

Somewhere around $35 an hour.
Thank You Thank You x 2 View List
I'll go back to being a conservative, when conservatives go back to being conservative.

mowens

#66
May 03, 2024, 07:25 AM
My first job was a paper route when I was 12. We had a morning and an evening paper when it got bitter cold in the winter my dad would get up with me and drive me around to deliver the papers

My first job after that was when I was fifteen. I, also, made $.85 an hour, but I was working at a drive in movie theater. I'd walk up and down the rows during the day picking up trash and work in the concession stand at night. It was their last summer to be open so, as people quit, they didn't hire replacements. At the end, there was me and one other guy. I remember making $40 one week, My dad was laid off from Boeing at the time so I was able to help out. My chest swelled with pride when he asked for $20 bucks and I was able to give it to him. I don't imagine he was feeling proud though.

I've been working pretty much since then.
Like Like x 1 View List
"I would gladly risk feeling bad at times if it also meant that I could taste my dessert." - Data

YoDoug

#67
May 03, 2024, 08:25 AM
Funny Funny x 2 View List
"In all my years here and on the old forum I have heard, and likely said, some pretty unhinged stuff. But congrats, you're the new leader in clubhouse."  - ghuns, 6/06/2025

Tim Johnson

#68
May 03, 2024, 11:26 AM
My first job other than mowing yards was working at an apple orchard for $2.00 an hour. Minimum wage in Michigan at that time was 65 cents an hour.
Like Like x 1 View List
FJB

Del.

#69
May 09, 2024, 06:50 AM
My wife's father just died last week. He and her mother sold their lifelong home last year and moved into a new home community they were renting. Now her son is talking her into buying a new condo. She will pay cash for it. I think in this case it is a mistake to buy instead of rent. She's 86 years old. She will lose several thousand on her interest on the money she has plus now pay property taxes and insurance plus a yearly fee for maintenance. When she dies or sells she will give 6% to a realtor. I can't get this through my wife's head. I just think in this case it's best to lease. I best just keep my mouth shut to her siblings and mom.
Like Like x 1 Thank You Thank You x 1 View List

mkd

#70
May 09, 2024, 06:57 AM
there is a time for everyone when buy green bananas is a bad investment. This condo idea is terrible at that age. One redeeming way is in an irrevocable trust. Maybe get everyone to talk to a financial advisor to cool their personal biases? 
Like Like x 3 View List

Del.

#71
May 09, 2024, 07:08 AM
Quote from: mkd on May 09, 2024, 06:57 AMthere is a time for everyone when buy green bananas is a bad investment. This condo idea is terrible at that age. One redeeming way is in an irrevocable trust. Maybe get everyone to talk to a financial advisor to cool their personal biases? 

She already has a Trust. I'm just praying I can keep my mouth shut on this. Wife said they have made up their minds. It just in no way pencils in as a smart financial decision.

RobertELee

#72
May 09, 2024, 07:12 AM
Quote from: mkd on May 09, 2024, 06:57 AMirrevocable trust

^^^^This^^^^

IMO every property owned should be placed in a Revocable, Irrevocable, or LLC, depending on circumstances.
Like Like x 1 Thank You Thank You x 1 View List

mkd

#73
May 09, 2024, 08:58 AM Last Edit: May 09, 2024, 09:16 AM by mkd
with a 5 year lookback on a medicaid covered nursing home stay, isn't it only a irrevocable trust that can protect those assets?
  If the family is so hot to buy a condo, what interest will they have in it when she passes? Putting it into an irrevocable trust with the family as beneficiaries, will protect the asset and not force any sale or probate. The family can use it as a rental or whatever they please. There are some good real estate markets in louisville, ky, right?
Like Like x 2 View List

mkd

#74
May 09, 2024, 09:08 AM
Quote from: RobertELee on May 09, 2024, 07:12 AM^^^^This^^^^

IMO every property owned should be placed in a Revocable, Irrevocable, or LLC, depending on circumstances.
I'm thinking since it is a new purchase, it might be done in a Land Trust
Like Like x 2 View List
Go Up Pages 1 ... 3 4 5 6