Wanted to follow up on my thoughts re: Riverman’s house sale.
One of the biggest life leaks I encounter is people getting emotional in residential real estate transactions. Especially on the sell side of the transaction. The more you can divorce yourself from emotion the better off you will be. Apparently painting a house and raising kids causes people to lose their minds and think they are living in Versailles or something.
Riverman’s example is the rule not the exception, imo.
I think a really important part of this is that feeling umbrage is natural and yet also counterproductive to our goals in any negotiation. It’s like tilt.
Expressing umbrage (regardless of our feelings) can be productive at the right time. But we want to use it like a tool, kind of like showing a bluff at the poker table - generally speaking it’s bad, but in the right situation it’s hugely valuable. 3bet the whale with 72o on his first hand, show him, and cement yourself in his mind as just as much of a gambler as he is.
Yeah I think a big part of it is logical, when buying. Any place you really love is worth $X to you in happiness and peace of mind. So your goal is to get it at market value, but you may be willing to pay more than that. This is why we don’t walk into a car dealership and say, “Oh. My. God. This is my dream car. I MUST have it. Hey how about 10% off sticker?”
When selling, of course, our emotions here are worthless - our potential buyers’ matter.
One week ago today I filled out the COVID waiver to get pool access. My key fob was supposed to start working the next day for the pool, and I was suppose to be able to pick up a wristband any time after Thursday. Went down last night, key fob wouldn’t work, I’m not on the list. They lost my paperwork, so I have to go get within 6 feet of someone again to sign a new set of papers and try again.
Just the kind of service you expect from a landlord who asks you to fork over $3,880 a month for an apartment lol…
I think you may want to add wristbands to your opening salvo back to the landlord.
$1400 and all the guest pool access I care to eat.
Maybe move into a condo association building?
I rent in a condo association high rise and we get treated with white gloves up in here. Your rent range might get you something more high end?
24/hr doorman. Always polite and helpful. Been here a year and was never inconvenienced once.
Thanks. Do you guys think just sitting in cash and seeing what happens in the next ~year is a bad idea right now?
If you don’t know what to do with your money than sit it in risk free assets or throw it in index funds.
Maybe you can listen to some financial podcasts and start doing small scale education.
Thanks, I’ll start listening to some and read this thread a little more.
If you google “dollar cost averaging”, this is probably the optimal approach to invest.
Your question is the $64 question. The trouble is that timing the markets is generally a losing strategy. Sure, I might think that market will drop over next 12 months because of 30 valid reasons and then watch as it continues to climb or vice versa. Look into dollar cost averaging and see if it makes sense for you.
I would invest the money into a tech company on the verge of inventing time travel. Only risk is you may discover you’re in a paradox and have to go back in time in order to ensure you get the money in the first place.
I don’t think Cuse should worry about looking like he wants to stay. Of course he wants to stay. He wouldn’t be trying to negotiate a lower rent if he didn’t. They know he wants to stay and they want him to stay, too.
So KY sent me a tax bill for ten bucks (we should not owe state income tax in ky) and my wife blew a gasket. I should probably stop being cheap and hire a CPA. Does anyone have any idea how to do that correctly?
Just pay it. Come on.
DCA is inferior to lump sum investing, in general.
I suppose that in the specific case where you’re trying to time the market in some way, then I guess this is not really relevant.
No… Because then they’ll keep sending me bills, each triggering my wife to imagine that pass through income on my s Corp (registered in ky) is taxable in ky even though the everything else about it happened in Texas.
I have a 24 hour doorman here and they’re great, they’re the only people working here who are 100% of the time good at what they do and good to deal with.
That’s what I’m doing with most of my portfolio. A small amount is in vaccine/treatment stocks, work from home stocks, and puts on companies I think are fucked.
This is generally correct. I believe we’re in a Black Swan event and the other shoe has to drop. But if/when it does I’ll get back into the market and never try to time it unless I am hugely confident in the same thing again sometime. Generally speaking, trying to time it is a mistake.
Don’t try to time the bottom either. Once it drops X% start working your money in systematically. You won’t time the bottom, but you won’t miss it either.
Send them a box with 1,000 pennies, an invoice for shipping costs, and a note that says “LOL fuck you.” And make sure to cc that to McConnell just because.
Sort of. Markets trend up, so there’s an opportunity cost and a lost EV to dollar cost averaging if you have a lump sum. But it’s a trade-off to reduce some risk of timing it poorly.
Also moving forward if you can add $X a month to your portfolio, you’ll naturally be DCA.
I probably could have been clearer. When I said “inferior”, I meant lower EV. The benefit, of course, is variance reduction.
To me, DCA implies that you are holding on to investable cash so that you can invest it gradually over a certain time period.
If you, for example, get paid once a month and immediately throw whatever monthly savings you have every month into investments, what you’re really doing is lump sump investing. That is, every time you have investable cash you are investing all of it immediately.
Did some reconnaissance with the front desk guy in my building tonight. It doesn’t bode well. He confirms vacancies are high and a ton of people are moving out, all for the same reason: rents too high.
It appears that the management company’s brilliant business plan is to drive out tenants with absurd rent hikes, ???, TPMM.
He did say they’ve had increased move-ins since the pool opened, but not enough to overcome the people leaving - at best it’s a push.
I think their strategy is to push out anyone smart enough to know the market rate and try to select tenants who are fucking morons, and they’re willing to have huge turnover and low occupancy rates to build up a community of complete idiots who will pay 1.5x market rate.
The other huge thing I learned today is that a competitor a block away has negotiated for their tenants to have access to the pool and all amenities here, and they offer a 2br for $1,975 + $225 in parking before I even attempt to negotiate for a free month and/or free parking. So likely literally half as much, same amenities, and I have it in writing.
So I’m thinking $1,400 is a very reasonable opening salvo.
