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Old 02-06-2021, 05:40 PM   #9926
shikataganai
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Quote:
Originally Posted by nogger View Post
Sounds good.

I was just reading that I could just do that with TD Ameritrade. I have Vanguard for my old retirement account. I could just put all of it into a target date fund like VTIVX (2045 for me) or just VTI?
I personally do target date funds in tax-advantaged accounts, so that there are no possible wash sale issues with VTI, etc. in my taxable account.
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Old 02-06-2021, 11:58 PM   #9927
shikataganai
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Doing this unconventional route would allow me to dig into my taxable account a lot less. So it's offsetting other investments a bit, just with a larger total amount if I'm going for 20% down.

Re current house refis: the current amount was dictated by being under the jumbo limit for Denver County. Apparently it's jumped everywhere for 2021, though.
I just put in a second mortgage pre-approval application via a lender located through Costco Finance.

Seeking pre-approval for $685k as with 20% down against that that'd result in a mortgage of $548k, which nestles nicely just under the Grand County 2021 conforming limit. At/under that limit there's actually good competition for business even for second homes. Bankrate had an outfit offering 2.500% flat (0 pts, 30 years fixed) but they have higher fees, in my experience, plus they are also super annoying about pestering one with phone calls and the like. I put in an application with NASB, advertising $750 or so in fees including appraisal, 2.625% flat at the same terms as above.

I included in the comments that I'd be coming up with $100k of the down payment via loans from my 403(b) and 457(b) plans. Perhaps the underwriters will see that and shoot down my plans for the better. Perhaps it'll fly. 'tis a low risk first step in any case, along with transferring the remainder of the hypothetical down payment from an 82% stock Betterment goal to a 5% stock goal for the moment.
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Old 02-07-2021, 01:15 PM   #9928
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This morning I put in an application with Pennymac directly as they did well by me with this latest/current primary home refi.

Pennymac rates FTW. 29 year fixed (yes, not 30–better rates). 2.500% with $3,137 in points, but that offset by $2,700 (0.5 point at $540k financed, 80% LTV) in lender credit. No origination fee since I'm a current customer.

Apparently this includes a surcharge (0.125% is my guess) for it being a townhouse, too, which one could avoid either with a SFH proper or putting 25% down instead. Amazing rates, these.
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Old 02-07-2021, 03:08 PM   #9929
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Good ol Penny Mac, I'm probably on my third mortgage with them currently, thankfully able to us the same online account login for all of them.
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Old 02-08-2021, 12:03 PM   #9930
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I'd be coming up with $100k of the down payment via loans from my 403(b) and 457(b) plans.
Found a big fly in the ointment with this plan! They share a common $50k loan limit between them, not a separate limit per account. This is annoying since they have separate contribution limits...

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Old 02-08-2021, 12:05 PM   #9931
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I'll loan you $50k for a shark tank deal and a bit of use of the condo.

Better leave enough cash left to buy yourself a DH mtb.
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Old 02-08-2021, 12:20 PM   #9932
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I'll loan you $50k for a shark tank deal and a bit of use of the condo.

Better leave enough cash left to buy yourself a DH mtb.


That $50k was magic because the interest would have been repaid back to me!

Inventory is low anyway. I've been emailing a local-up-there realtor and he says April is when people start listing in earnest post-ski season.
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Old 02-09-2021, 02:20 PM   #9933
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Is investing in gold (or a gold ETF) a good way to hedge against inflation as a long term investment? It looks like gold is slightly off its high at the moment.
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Old 02-09-2021, 03:08 PM   #9934
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Don't do that. Repeat, do not do that. Bonds would be a much better choice if you are skittish about stocks. If you want to burn money, I can give you guidance on less painful means.

Gold is not high due to demand, it is just a hedge against the USD in uncertain times. It is not an investment as much as it is a gamble on the forward value of the USD.
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Old 02-09-2021, 03:38 PM   #9935
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Dont be a dummy. Don't buy gold.
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Old 02-09-2021, 04:11 PM   #9936
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Dont be a dummy. Don't buy gold.
What about silver?

/real talk because I think it looks cool and who doesn't like those neat 1oz silver coins you can buy?
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Old 02-09-2021, 04:15 PM   #9937
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What about silver?

/real talk because I think it looks cool and who doesn't like those neat 1oz silver coins you can buy?
Don't be a fool...100oz silver bars are much cooler than coins.

Silver is a heavily manipulated market.

If you want to hedge against inflation, look into TIPS.
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Old 02-09-2021, 04:57 PM   #9938
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I have a couple pounds of physical silver just because I think it's neat. That's about as far as I'm willing to invest in it.
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Old 02-10-2021, 03:59 PM   #9939
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Interesting article from Motley Fool. - "How to earn more than $2MM for retirement"

https://www.fool.com/investing/2021/...mpaign=article


Clif notes:
- start early
- invest money into index funds
- assume 10% annual rate of return

If only it was common sense to save money to have it later.
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Old 02-10-2021, 04:04 PM   #9940
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Sold the rest of my Morgan dollars today along with a random bag of wheat cents. My eScrap yard also does coins. Oh....brought over random boxes of aluminum and steel too.
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Old 02-11-2021, 01:18 PM   #9941
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Made a few inquiries. This may be possible!
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PMI, boo. Rates are good even on second homes, though! If 10% I need to wait at least until I know how much my April half year bonus will be—don’t want to be liquid cash-poor.
Went ahead and got preapproved through KeyBank for their weird 90%-sum jumbo product, up to $800k to give some flexibility. (Still no good available prospects on the market at the moment so this is just to get ducks in a row.)

They way they structure it is one loan at the conforming max, which is $548,250 for Grand County (and most counties) this year. They quoted 0.095% in points for a 30 year fixed x 2.750% rate for this portion, but that $520.84 is offset by a $666.65 "aggregate adjustment" downward, which is just a lender credit, I guess.

Fees are a bit high, which reflects them taking some profit on this niche product:

- $1,095 processing fee
- $920 appraisal
- random fees: $50 closing protection letter, $100 doc preparation fee, $510 settlement closing fee
- $1,615 estimated lender title insurance, also on the high side, no?

What he'd said before for the second mortgage that'd take it from the conforming limit to just under 90% LTV was that that one would be 6%, interest only. (Again, I'd paid this down in probably two years in most scenarios.)

So I'd be paying for getting a place a year earlier. I'll try to stick to something cheaper and go for a conventional 80% LTV loan but if it comes to this then I'm ok with it, knowing that there's a price. And that I can refinance down the road.
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Old 02-11-2021, 01:22 PM   #9942
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I wonder with inventory/demand what you’ll find. I’m thinking the demand this spring will be high with people having more remote work options going forward.
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Old 02-11-2021, 01:27 PM   #9943
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I wonder with inventory/demand what you’ll find. I’m thinking the demand this spring will be high with people having more remote work options going forward.
Inventory on Zillow is certainly low as compared to the fall. Hopefully some more listings in April when ski season ramps down! I'd love to have the place for the summer as well: get it furnished if that's not thrown in, and just relax up in the mountains/horse riding for elder kids/biking/hiking.
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Old 02-11-2021, 01:33 PM   #9944
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I've been watching RE up there daily for 6 months now and every property that comes on the market moves very fast and there haven't been that many good ones sub 600k IMO. I think COVID sparked demand is just as high and I think that's led to some definite price increases. Heck just in this thread there are three of us that are actively looking up there and at least two that could be ready to buy anytime, I think there's still a big pent up demand and attitude of people with means that they won't be traveling so they may as well go for that second home. All that said I don't necessarily see a dip in value so all the above doesn't mean it's a bad time to buy just not a time to find a deal.
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Old 02-11-2021, 06:25 PM   #9945
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I've been watching RE up there daily for 6 months now and every property that comes on the market moves very fast and there haven't been that many good ones sub 600k IMO. I think COVID sparked demand is just as high and I think that's led to some definite price increases. Heck just in this thread there are three of us that are actively looking up there and at least two that could be ready to buy anytime, I think there's still a big pent up demand and attitude of people with means that they won't be traveling so they may as well go for that second home. All that said I don't necessarily see a dip in value so all the above doesn't mean it's a bad time to buy just not a time to find a deal.
I want something like this to pop up again. Good sized, modern, very reasonable HOA, not as far as Granby proper.

https://www.zillow.com/homedetails/4...79482296_zpid/

5/21/20 listed at $785k
7/16/20 pending at $759k, fell through
8/7/20 pending at $735k, closed on 9/20/20 at $725k ultimately.
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Old 02-11-2021, 06:38 PM   #9946
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No idea about building costs but there are lots by Granby Ranch that look interesting. I’d kinda looked at that for a bit.
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Old 02-11-2021, 06:46 PM   #9947
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No idea about building costs but there are lots by Granby Ranch that look interesting. I'd kinda looked at that for a bit.
lumber costs have gone up 112% since last year

https://www.cnbc.com/2021/02/10/lumb...ing-costs.html
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Old 02-11-2021, 06:51 PM   #9948
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I think shik needs a “Grand County investment property for shik” thread.
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Old 02-11-2021, 07:33 PM   #9949
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I think shik needs a “Grand County investment property for shik” thread.
Done, as a placeholder for now

https://forums.nasioc.com/forums/sho...php?p=46515006
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Old 02-12-2021, 12:16 AM   #9950
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Generic taxes owed gripe.

Last edited by 340Duster; 02-12-2021 at 08:11 AM.
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