
horn4life
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Everything posted by horn4life
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Road trip stop question (I-10 drive of misery)
horn4life replied to texasdago's topic in Food and Travel
You are going to wish you pulled over sooner. That drive around the horn to the Panhandle is a monotonous mofo with all the pine trees. Pensacola might have been my choice. HaHa- I remember a La Quinta on the bay at I-10 and Scenic Highway that might have been the culprit. I drive pretty fast, and a couple years ago, average 71.5 mph (Including stops!!!) on a trip from Destin to Austin. If I could only convince the entire world that the left last is THE FUCKING PASSING LANE, I could really fly... -
well then... I just can't help myself...
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All Encompassing Mortgage and Real Estate Thread
horn4life replied to UTPhil2006's topic in Business and Markets
I told my wife to reach out to a friend of her mother's who has a 2/2? (maybe 3/2) in an small condo complex we looked at buying a unit in years ago as a starter. Almost all those units are two story, but they all have a large dining/living area that would be big enough to have large meals. Main thing is it's a single story, with two car garage! Perfect for downsize and very close to where we live now. A move to that place might be the one where we would rent our current home, and make the downsize. OR just sell, and take the gain tax free. And to be honest... the wall noise won't be an issue as you go deaf... 😉 But yes something to be able to lock and leave without a lot of upkeep if we are traveling. -
All Encompassing Mortgage and Real Estate Thread
horn4life replied to UTPhil2006's topic in Business and Markets
Funny - after seeing that via my insurance and property tax increases my payment went up almost exactly 10 percent. My wife was more startled than I was, but damn when we have this thing paid off, it may be impossible to stop a steady increase in insurance costs. But yes - it's a great vehicle if 1) IF you know about it 2) you can make good improvement/design decisions 3) you are willing to buy a home that NEEDS fixing up. 4) are willing to move a few times. So would you agree that probably less than 10% of first time home buyers have no idea about the tax free equity exclusions? Or maybe a better question might be, How many of you were aware of the potential tax free gains possible, when you bought your first home? -
My memory was that $60 was sort of the breaking point for smaller independents for additional exploration. But wasn't sure if advances in Technology might have pushed that number lower? I just remember meeting a lot of folks in Corpus when I was remodeling a foreclosure we bought. I was just wondering if all the production folks down there were going to be able to keep their jobs or not at $60 a barrel? None of those guys working on/off shifts seemed to save much if any of their money. But they had a good time on their time off!
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My SIL started training, as he said, his replacement I think late August last year. Shell has been a great company for him, but like I told him as a kid who grew up in O&G, be ready to pull the emergency cord anytime past 50 years old. He's smart. They are banking, and serious savers. Ultimately the only thing preventing a lot more off shore engineering is the language barrier. I don't think he is thrilled about $60 a barrel oil. If things go that way. I assume Eagle Ford is still viable at $60?
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All Encompassing Mortgage and Real Estate Thread
horn4life replied to UTPhil2006's topic in Business and Markets
You can want anything. But Trump is doing what he promised, and actions thus far, are about the scenario I predicted last fall. Tariff inflationary pressures hamstringing the fed, and big increase in US debt via legislation coming down the pipeline. These actions are not going to be conducive for bond holders to ask for less interest, for a risker investment. So yep, stuck like chuck. -
The smile says it all! Yeah - I remember hooking into a Jack a bit larger than that one off the beach in Port A right after Harvey, when I was trying to help a buddy line up some contractors. I was the only guy fishing on the beach and set out my first surf bait right at 7:30 am, bit before I could set up second rodgot him on the beach about 8:45. I thought I had come sort of world record when I could not move it over the sand bars. Sucker was foul hooked on that bottom back fin. nothing as fun as having a jack rip drag...
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Anyone know why Soundhound (SOUN) is spiking today? +20% on the day?
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Senior Citizen Issues - Assisting Your Parents
horn4life replied to ROFL BOX's topic in Can You Help Me With This?
Yeah - that sucks. In that he just wants to fade out and it will all end up falling on you. My Suggestion is get hospice involved right now. If he has any objections, explain this is to help you not him. AND - they may be able to do things like get him bathed. If he is not going to wear the vest let the hospital know and return it. I understand your frustration. I am STILL dealing with the results of not listening to me when had the listened.... layers upon layers of better outcome. It is laugh or cry, and often both at the hilarity and darkness of certain moments. But look into Hospice. -------- I did not realize how long it had been since I posted on this thread. But my mom passed days after my last post in August of last year. Hospice was amazing, and so was the Neptune Society. Can't recommend both highly enough. The good news is my Dad is doing really well. He actually told my BIL he really enjoys living at The Enclave. He has always been a oiner and I think it helped move past my mothers death. He still has dreams with her most every night so he likes that. He got the place to get some loaner pedometers and has started some sort of walking club. He is well outside the norm, and is kicking ass in all honesty. But it's just fucking hard sometimes. My sister has not been remotely the help I thought or expected, so there is that. But that is everyone's situation on this thread I imagine. Do the best you can with your folks. And try to find a good hospice place as early as possible. You may not be ready, but having a phone number to call of somebody you have interviewed are have a great recommendation on will give you peace of mind during the decline. Mainly there are a shit ton of things they can help you with once they are on hospice care. -
Already did. I can be right long term and wrong short term, it's happened before and it cost me. Can't fight momentum and exuberance, despite what I see coming. My Dad just told me with all the fantastic news with tariffs, along with impending peace in the Middle East and Ukraine the market is going on a multi-year run to the moon! For me I will likely give back about double what I made on PLTR, this AM in all likelihood. Or worse depending on the drop. I'm still mostly cash, but FOMOing today. Longer term I still see inflation hamstringing the fed, and rates not receding to where they will need to be to add another big chunk onto the debt/deficit. It will be interesting to see the appetite for US retailers to bite off 30% in additional expenses on china imports. You have to assume some retailers are going to have to start paying the fees, or potential have the problem of empty shelves and no income. The costs will be passed on to US consumers, and this is going to take more time. But it's coming, and inevitable. PS- seeing some of the surges in retailers may give me an opportunity shortly to the downside.
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Well last of my long position disappeared Friday when my PLTR shares all closed ITM on the covered calls I did. But can't cry over 12% return in under 3 weeks. If only I could repeat that over and over. Of course all those gains are getting wiped out this AM as I bought back into UVIX before the Fed stood pat. Guess I will sit on those losses until at least the end of the week to see the inflation numbers. The exuberance for 30% tariffs on Chinese imports, is apparently priced in at a number 10% or lower? With the market looking for reductions past the apparent 30% tariffs for 90 days. So if the market is pricing in a tariff expense far below the 90 day cost. If you are businessman do you start bringing in the goods with that "new and improved" 30% tsriff rate? Do you pull your inventory out of the bonded warehouses and pay the tariff? Or do you hold pat waiting for the next pull back? And how does the market react when the inflation numbers start showing movement in the wrong direction? Anyhow- like I said so very many pages back. Would have been the most interesting spring ever to be taking Eco 301. Today it's risk on! Hope all you guys back big time today!
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All Encompassing Mortgage and Real Estate Thread
horn4life replied to UTPhil2006's topic in Business and Markets
It's because I remember shit, and I'm old...I guess I thought the $250/500K was in addition! But much better to have the flexibility to make multiple homestead sales and convert some of that gain into tax free cash. But if you are young and willing to move around a couple times, and are handy remodeling, it's a great way to grow your net worth! Especially if you start off with this as a strategy. I was explaining this to a roofing guy who was young and explaining that hell he already had connections for the most expensive part of many remodels, a roof! And just knowing folks that can help you build shit can help turn that sweat equity into real equity. Looks like you might be able to take the deduction technically every 2 years + 1 day? Assuming closing on sale and purchase of homesteads at same time. But what is also interesting to me is that 5 year window. It opens up the ability to move to a new homestead and convert your existing homestead into a rental unit to benefit from more years of appreciation. While at the same time remodeling your new homestead. The we get the mortgage finance folks in on the game. And then you are using your homestead in combination with a BRRR strategy. -
All Encompassing Mortgage and Real Estate Thread
horn4life replied to UTPhil2006's topic in Business and Markets
Ok I stand corrected. I thought if you bought a homestead of equal or great value you could defer all the gain. I guess I wasn't contemplating exceeding the $500K cap when I actually thought about this a few years back. So the exclusion is the 121 Exclusion. According to Rocket I can use this every two years? This would be important to me, because if I were to talk the wife into making a homestead move, It would be to convert our current homestead into an income producing property, while I remodeled a new homestead. This is the scenario I am considering trying to pull off. I have a neighbor whose parents home has been vacant for a couple years. Full of Christmas hoarding crap. But she is needing to get some cash finally, and the property is in trust, and I was nervous about trying to buy the property from a trust. Mainly as I was going to give her almost nothing down, with a future balloon payment. Or interest only loan to keep my costs down by renovating. In this scenario I could convert my current homestead into a rental, thus opening the door for a future 1031 exchange. In this scenario my wife and I (filing jointly) could Sell the property (within the 2 or 5 years homestead 121 limitation) and take $500K cash out tax free, and defer any additional gain beyond that amount into a new investment property using the 1031 exchange. In essence converting the homestead residual cap gains into rental property equity, correct? HOWEVER - I thought I was limited in taking the 121 cap gain exclusion to once every 5 years? Rocket is saying once every two years? -
All Encompassing Mortgage and Real Estate Thread
horn4life replied to UTPhil2006's topic in Business and Markets
So if I buy my homestead for $500K and via appreciation it becomes worth $1.2 million. I cannot then sell the place for $1.2 million, buy a new homestead for $700K million and pocket the $500K exclusion? I thought as long as you put the rest of the gain back into your homestead, you could defer tax on that gain? -
All Encompassing Mortgage and Real Estate Thread
horn4life replied to UTPhil2006's topic in Business and Markets
I wish I knew when I was young about the 2 out of the last 5 year Homestead cap gain exclusion. Buy a fixer upper, fix it, refi to get cash back out, then rent it. Move into new homestead, that you remodel. Then sell first place, before, and refi the newly improved homestead. The 5 year clock starts ticking again on the second homestead. BUT you can only take the exemption once every 5 years. Where else can a married couple pick up that sort of tax free income? No place. But past $500,000 you are paying cap gains. Unless you roll all the non-excluded gain into a new homestead. Then there is no gain since that gain got rolled into the new homestead. -
Funniest thought that popped into my head yesterday was when I heard that Bessent was being sent away to Switzerland to negotiate a deal after his testimony yesterday. I thought to myself, maybe China figured why not negotiate with a guy who can barely string his words together? I was thinking the Chinese might think Bessent has turrets, or is on the autism spectrum after his testimony before congress. I will say this, Bessent can read. Answer questions in a coherent manner? Eh.. not so much. If I were the Chinese, I would think Bessent is exactly who I would want to negotiate with. A guy who is running on the warning track about to run into a wall, he will locate about the time he hits it. In other words I would talk to Bessent to take up his time, and let the wall get closer, while we muse endlessly about who actually pays for tariffs... Then Bessent will cry out (for you olds) like Tattoo on Fantasy Island. But instead of yelling "the plane, the plane!" He will yell out the debt ceiling limit I promised to warn you about? It's happening tomorrow! Anyhow - good luck to all of you today.
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All things Apple, the tech not the fruit
horn4life replied to sachick's topic in Business and Markets
Sort of interesting to me as I have a buddy I have been trying for several years to get to learn about selling covered calls for Income. He has almost 3000 shares that have been ust sitting in the account. He ever borrowed on his margin to buy some stuff for his business, but won't sit down and learn about selling covered calls. So I started buying only Apple with covered calls. So I can show him, yes the stock has faded, but not nearly as much when you let somebody pay you to buy your shares in the future. -
Yesterday I would have been smarter. But any sort of record move in anything, sort of says you should trim a bit, yes? And a few folks are starting to pull guidance...
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All Encompassing Mortgage and Real Estate Thread
horn4life replied to UTPhil2006's topic in Business and Markets
Because the data is all old, right? As most of the sales for comps, are the same sales the owner is aware of, if they are sophisticated in their market. So what's your solution? I guess I would tell them this is what the math says, but I think this market data while the most accurate I have, is not reflective of today's market? I mean it's the rock and the hard place. You list too high, house sits customer is pissed. You tell them the real low number and they flinch? I guess I go for the flinch, and explain that I am trying to sell the house, not just list it... But as an appraiser you could indeed justify the $1.1 million, for a loan. correct? 😉 Because you can show your work... *** What sort of rates are you guys view as what your buyers are "looking for" to pull the trigger? Or a recent range of acceptability with the ups and downs. -
Well it will be interesting to see whee PLTR ends the week. Closed at nearly $124 before earnings, now bouncing below $114. My covered calls exercise at $108 and $115 Friday. And I would like to keep those shares committed at $115 to sell calls again on again, but if they disappear I won't cry. Sort of interesting that PLTR and NVDA now have nearly identical share pricesi So any of you guys trimming your SPY positions after that nice run up? Or or you staying pat long? I am thinking of taking a little bite shorting for June, the longest upward run (that I did not fundamentally understand) in US history. Or that was yesterdays plan before my day went to shit.
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So we are going with incompetence? 😉
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I should have bought more PLTR - Right now I am upside capped due to my calls for next Friday. Those $150 May 9th calls I considered yesterday at close would have been wise... But I am still more on the sidelines at this point.
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So GDP contraction? Who gives a fuck! To me that is sort of feels how the market is pricing in what's coming. Basically shrugging off the numbers. The market also have what, 4 cuts for the Fed priced in right now? First coming next month! This is what makes me nervous about starting to truly allocate long. As the optimism against the backdrop of what I see coming simply isn't making a lot of sense, from my perspective. But Momentum, is the mojo! But that door can swing both ways unfortunately, I think DOW (the antiquated one) was up a couple hundred this AM before a little pull back. But good time ahead apparently.
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