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  • On 15 Jan 2015 in Fans will pay at least $4,500 per person for Super Bowl XLIX, E-man said:

    Not a fan of basketball.

  • On 15 Jan 2015 in Most say they would keep working if they had a financial windfall, E-man said:

    Rin says

    Many ppl would rather do their hobbies like fixing cars, playing a guitar, seeing escort gals, etc.

    Gotta love it. Anything that comes from Rin has "escort" in it. LOL!!!

  • On 15 Jan 2015 in Most say they would keep working if they had a financial windfall, E-man said:

    Peter P says

    This is bullshit. It obviously depend on the size of the windfall. $1M? $500M?

    NOTHING is everything, but money will buy you most things.

    Couldn't agree more. Enjoy the life of doing whatever you want to do, then tell me if you still want to work. What a bunch of manure.

    Just like those saying "money doesn't buy happiness" are typically those that don't have money. LOL!!!

  • On 9 Jan 2015 in Inflation lowest in 14 years, E-man said:

    Inflation? We should be happy that we still have inflation now. Without our government's assistance and involvement, we would have deflation now. Of course, I'm happy and laughing all the way to the bank.

    Thank you very much Mr. Ben Bernanke. You are my hero. (No Sarcasm)

  • On 9 Jan 2015 in Wait... I thought rates were suppose to go up by now?, E-man said:

    tatupu70 says

    It's not the Fed... It's all the excess cash being hoarded right now.

    Who is doing the hoarding?

  • On 9 Jan 2015 in Wait... I thought rates were suppose to go up by now?, E-man said:

    Bellingham Bill says

    The days of savings earning money for nothing (e.g. in CDs) are over.

    That's what you get for relying on others. Who cares about CDs when you can make 1%/month doing hard money loans at 65% LTV? In fact, you can borrow money at the bank at 2.5%, turn around and lend it for 12% and make 9.5% using OPM.

    Come on. It's almost too simple. It has been done for centuries. You don't have to reinvent the wheels. You just have to get off the couch, put a little effort into it, and reap the rewards.

  • On 31 Dec 2014 in Should I keep this property or sell?, E-man said:

    SF ace,

    Given the options, cash in refi makes the most sense to me. I'm totally against the idea of selling. Even losing $200/month, that's $24k in 10 years. If history is any indication, there's a high probability the condo will worth $500k by then.

    Although this investment is a dog, he can turn it around with a cash in refi. It's the cost of learning. The alternative is to find another positive cashflow investment to off set this dog. Given where we are in the cycle, finding another property that makes sense is not an easy task. Out of state investing is sure a loser even though the numbers look so rosy on paper.

  • On 31 Dec 2014 in The 2014 housing market and my prediction for 2015, E-man said:

    cloud15 says

    Final thoughts ?

    E-MAN, Iwog , Sface , suboink - happy new year to you and everyone else on the board

    What SF ace said above. There is no reason 2015 will not be a positive year for real estate although the rate of appreciation might moderate.

  • On 31 Dec 2014 in Should I keep this property or sell?, E-man said:

    SFace says

    1) up the rent.

    Given the value of the condo, $1,900/month in rent sounds about. It's not like we can just up the rent without much consideration. My guess is he can push it to $2k/month max. At $2,100/month and he is at the risk of losing his tenant.

    Waiting till summer to refinance is a great idea. I would suggest waiting till fall because the sold comps in the summer be recorded by then. There is a high probability that we will see mid single digit appreciation in 2015. Condos and townhomes have been outperforming SFHs in appreciation in the recent years because they were hit the hardest. So fingers crossed on your condo value in another 2-3 quarters.

    Some people might say cash in refi is throwing good money after bad. It depends on your personal financial situation and your risk tolerance. I'd do exactly what I suggested above, but that's me.

    Good luck.

  • On 30 Dec 2014 in Should I keep this property or sell?, E-man said:

    BayArea says

    Land: $61,500

    Improvements: $143,000

    Total Real Property: $205,000

    Gross Assessment and Tax: $205,000

    Homeowners Exemption: $7,000

    Net Assessment and Tax: $198,000

    How much exactly can I depreciate (1/27.5)? Is the depreciation based on $198,000 or more?

    You can only depreciate the improvements, not land value. Therefore, $143k/27.5 years = $5,200/year. Since your income is above $150k, your passive losses will carry forward and off-set your gains in the future when you sell. So not all is lost. This is where being legally married cost you unless both of you are making more than $100k each. What can I say? Our tax code sucks

    This is no doubt an alligator. I would bite the bullet and hang onto it for various reasons. If history is any indication, this condo would worth $1M to $1.2M in 30 years. That's a nice chunk of change compared to investing in the stock market. If you sell now, you basically walk away with about $10k. The positive thing is that, you will have about $100k loss that you can write-off for the foreseeable future at a rate of $3k/year. If you have company stock options that you can exercise and off-set the $100k loss in the near future, selling might make some sense.

    If you want to make the situation more bearable, you would have to bring money to the table and do a cash-in refinance. You can get interest rate around 4.375% at 75% LTV on an investment condo. If you go with a 5/1 ARM, the interest rate is around 3.5%.

    If you believe interest rates will not rise significantly in the future like I do, refinance it into a 1-year ARM at 1.75%. Terms are 1-month LIBOR + 1.56% margin. 1-month LIBOR is around 0.16% the last time I checked. However, they will only loan up to 70% LTV.

    Disclosure: I'm currently refinancing two of my investment properties into this loan program. I'm looking at cutting my mortgage payments around $950/month on both. Interest saving is just shy of $17k/year. Loan qualification is based on 6.5% interest rate, which is quite conservative. Minimum loan amount is $200k. I can introduce you to my loan officer if interested.

    There is nothing magical about real estate. The more problems you can solve, the more money you make.

    Happy New Year.

  • On 3 Dec 2014 in Condo insurance policy experts, please come on in and join the fun, E-man said:

    How much is the condo worth?
    Do you have a loan on the condo?
    Do you currently have an umbrella insurance?
    Do you want one?
    Does your renter have a renter's policy?

  • On 3 Dec 2014 in Job market in Bay Area stinks, E-man said:


    Sorry this happened to you. If you believe everything in life happens for a reason, maybe it's for the better. I quit my W-2 job just over 5 years ago and haven't looked back. It was a mixed feeling of both relieved as well as scared at that moment. Thank god it has worked out.

    One of our lenders, First Republic Bank, told us recently that the first wave of lay-off has started. They expect 2015 to be a soft year for the housing market. They have gotten more conservative with their lending. They used to lend to us at 70% LTV, then 65% LTV, and now they're down to 60% LTV. Basically, they see risk on the horizon.

    If you're looking for another job, best of luck with your search. Contact me if you have the skills and need a connection at Apple. I believe they are hiring.

  • On 23 Oct 2014 in I'm liquidating all my stocks and going to cash, E-man said:

    At this point, there is a high probability that the correction is over. The intra day low reached 10% correction from the high last week. We also had a follow through day on both the Nasdaq and S&P.

    I'm looking to buy back in when the S&P pulled back to 1,910-1915. Otherwise, I will buy back on the break out at 2,020.

    I'm surprised that the market made a U turn after only a brief 10% correction. Will have to wait and see.

  • On 20 Oct 2014 in Personal loan for down payment questions, E-man said:

    SFace says

    This is silly, get the bank account # and send your old man 20K.

    I second SF ace. This is silly. Just give your dad $20k and sign a gift letter so he can obtain a mortgage. You don't have to file anything with the IRS. They don't have to know. Keep it simple.

  • On 17 Oct 2014 in They are dying because they are poor, E-man said:

    And we are dying because we are obese.

  • On 7 Oct 2014 in Take Father In Law's Offer?, E-man said:

    On The Fence,

    You over-think this. It's not about you. Your FIL is just being respectful by asking you. The reason he is willing to foot the mortgage payments because he wants a better place for his daughter and grand daughter. Eventually, the money will belong to his daughter and grand daughter anyways.

    Since he's footing the bill, he still has total control of the property. However, I would ask him to add your wife's name on the Grant Deed so she can write off the MID and property tax. That should save you guys thousands each year.

    Saving $1,500/month won't get you anywhere in the Bay Area. If you're going to borrow his money for the down payment, how are you going to afford a $1M home with your salary and your savings? There is no way you can pay him back with those numbers.

  • On 1 Oct 2014 in I'm liquidating all my stocks and going to cash, E-man said:

    Heraclitusstudent says

    Funny, how the market eats like a bird, but goes to the toilet like an elephant.

    After going up 150% and now giving back about 4%, you're calling that going to the toilet like an elephant? Your pessimism shows.

  • On 1 Oct 2014 in I'm liquidating all my stocks and going to cash, E-man said:

    Heraclitusstudent says

    I like the optimism on pat net.

    Not sure what you mean. When we're bullish, we say we're bullish. This is only a short-term correction (bearish), but I believe we will take out current high when we're done with this correction. The final exit point for me will be around 2,400-2,500 for the S&P or sometime in 2016.

  • On 1 Oct 2014 in I'm liquidating all my stocks and going to cash, E-man said:

    thunderlips11 says

    I still think the S&P is fairly valued somewhere between 1300-1500. 800 was too low; 2000 is too high.

    I expect the S&P to correct to 1,500 - 1,600. I'll buy back in at 1,600.

  • On 19 Sep 2014 in Zillow, Top 10 markets to buy and sell your house now, E-man said:

    "7. Las Vegas, California"

    I didn't know that Las Vegas was in CA.

  • On 16 Sep 2014 in Thoughts on the Alibaba IPO?, E-man said:

    I'd short it if I had balls of steel. Unfortunately, I'm not this type of gambler. I don't like gambling with a 50/50 chance.

  • On 16 Sep 2014 in Don't fuck with America., E-man said:

    To calm their people down, the Russian authorities should have told their people that the rouble increased against US dollar from $38.32 to $38.71. Let's the spin begin.

  • On 16 Sep 2014 in My first real estate bear thread (ever), E-man said:

    This is what I said
    E-man says

    Too busy building an empire for the next generations.

    and this is your response. Not sure what to make of it.

    hrhjuliet says

    So many people think getting a home and acquiring an "empire" is all that matters and will make them satisfied. Well, I have news for all of you, it's not what matters..........We have lost our way, and the next two generations are paying the price.

    I'm different with you. I see the potential issues. Therefore, I work hard so the next generations don't have to pay the price.

    Imagine if what CDon said below were reality...... Think about the unthinkable for a moment.

    CDon says

    Even worse, imagine your parents had rented and the owner suddenly decided not to rent to your brother anymore.

    Crap happens all the time. If one owned his own house, he has more control of his destiny. Iwog had to move twice because his landlords wanted to sell the house. Reality sucks sometimes, but it is what it is.

    Regardless of what you and anyone want, the market will do what it does. Facing reality and figure out how to outsmart the system is the way to get out to the rat race hell hole.

  • On 16 Sep 2014 in My first real estate bear thread (ever), E-man said:

    hrhjuliet says

    Yeah, thanks E-man for your advice. Your reactions are cute.

    I own and business, a non-profit and I lecture at the university, so don't waste any of your very self-important time worrying over what I contribute.

    Ha! Maybe I should take your advice and try and find some other creative outlet besides choreographing, designing and directing the Bay Area's biggest semiprofessional nonprofit Nutcracker.

    Snicker, snicker. ;-)

    It's still a crap hole. Just because I choose to try and beautify the crap hole does not mean I don't recognize it's a crap hole. On the contrary, I believe in whistling in the dark and decorating your prison.

    I own two businesses my self, but for profit. I was asked to teach engineering at SJSU several times, but I turned it down. Too busy building an empire for the next generations. So what's your point?

    Like I said above, one can get different results with the same effort. It's not what you think, but it's how you think.

    I don't offer advice. I state my observation. Not sure who should be the one snickering.

    A lot of people disagree with you. People don't pay $750k - millions for a house to live in a crap hole. People from all over the world have been sacrificing their lives for a chance to make it to this land of opportunity.

    Every individual is responsible for his/her own destiny. It's our own fault that we are not happy with our life. We only live once. Why go through life with bitterness? If you're not happy in this crap hole, move. If you decide to stick around because of family, make it work but don't use them as an excuse. A lot of people are doing the same thing because they have roots here. However, I don't see they're being bitter about it.

    Crap hole? I beg to differ. Land of opportunity? Hell yeah.

  • On 15 Sep 2014 in My first real estate bear thread (ever), E-man said:

    "But people just keep coming to our crap hole for jobs.

    There are a few people stuck in these hell holes because all of their living family is still in those areas and refuse to leave. They usually refuse to leave because they bought their house for nothing before the nineties and hate change, and well frankly, all their friends and family still live there."


    Your ranting is hilarious.
    Crap hole? I call it survival.
    Hell holes? Everyone has an obligation to something, and they make it work. Why not you? Instead is spending time ranting, you can use that effort for something for creative.

    Some people spend time to think of ways to SAVE money while others are that time to think of ways to MAKE money. The same effort with different results.

    That's my 2 pennies.

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