Advice needed (long post)

[sheehs1]

That WAS fast. Good luck and hope it works out well.

 

[Martha]

Wow. I wonder if it is a construction loan.

 

[Bestwifeever]

Sounds like you originally financed the buyer only because he wasn't able to get decent financing. What would you have done with the proceeds if the buyer originally had been able to get financing? Just do that now .

 

[Westernskies]

I'm thinking it's a local community bank desperate for loans and looking to beat your rate.

Don't look at it as a problem...it's a new investment opportunity! And in a market looking better and better these days.

Hope it works out well for ya dude.

Give the woman a cigar! From what I was able to find by poking around today, it is a local community bank, and they're doing some sort of wraparound refi on his house and some rental properties; he's apparently convinced them to roll this land loan into the package.

Looks like I'll be calling Vanguard next week.

 

[Gumby]

I thought you had everything in FFIV? You could buy more; it's way cheaper now.

 

[Westernskies]

I thought you had everything in FFIV? You could buy more; it's way cheaper now.

Nope, no FFIV holdings; you must have me confused with one of your other favorite forum members.

 

[Gumby]

Your posts are always memorable, Westernskies.

Damn, now what am I going to do with my 100% asset allocation in FFIV?

http://www.early-retirement.org/forums/f44/no-one-has-mentioned-ffiv-54003-2.html#post1020706

 

[Westernskies]

Your posts are always memorable, Westernskies.



http://www.early-retirement.org/forums/f44/no-one-has-mentioned-ffiv-54003-2.html#post1020706

Sorry, that was one hot stock tip I missed getting in on, though the OP's recommendation on that thread was pretty compelling... I must have been distracted by NW-bound's mention of beaver cheese futures and just thought I'd executed that 100% FFIV order... Thanks for reminding me...

 

[Westernskies]

UPDATE-

Talked to my friendly banker this AM, looks like everything is in order, and the buyer is closing on their new loan next week; have already scheduled the wire transfer. Looks like I'm going to have to spend more time in "FIRE and Money" and less time on "Other Topics".

 

[haha]

Congrats Western. The goal is always cash. You shot on goal, and scored.

Ha

 

[pb4uski]

Cash is king. How about some laddered CDs and a diversified portfolio of high credit quality bonds?

Won't replicate that juicy 6.5% you were getting though.

 

[bbbamI]

Looks like I'm going to have to spend more time in "FIRE and Money" and less time on "Other Topics".

Mmmm....hmmm....

 

[Purron]

UPDATE-

Talked to my friendly banker this AM, looks like everything is in order, and the buyer is closing on their new loan next week; have already scheduled the wire transfer. Looks like I'm going to have to spend more time in "FIRE and Money" and less time on "Other Topics".

Just don't plan any trips to Vegas in the near future....

 

[sheehs1]

Off topic a bit but since I put the information in this thread..felt I should post back to the thread. I posted about 2 stocks/funds with good yields and received a question about one of them. The one I received the question about is EXG. Yahoo doesn't display the dividend yield. I have no idea why. The stock is Eaton Vance Tax Managed Global Equity Fund and the current yield is 10.7%. I've copied below the information from the Morgan Stanley website. Scroll all the way down to see the yield.
Hope this helps anyone else who has a question...as Yahoo...isn't displaying the yield...and again I don't know why.

Enter Symbol(s) or CUSIP(s):

symbol lookup
Get Quote
ET VAN TAX MG GL DIV EQ INC (NYSE: EXG)
As of Feb-18-11 4:02p ET (Delayed)
Symbol (USD) Last Change [%] Volume
EXG 10.6100 (N) +0.0500 [+0.47%] 897,509
Market Summary
As of Feb-18-11 5:16p ET (Real-Time)
Index Last Change [%]
.DJIA 12,391.25 +73.11 [+0.59%]
NYA 8,507.90 +10.49 [+0.12%]
.NCOMP 2,833.95 +2.37 [+0.08%]
.SPX 1,343.01 +2.58 [+0.19%]
Dow Jones | NYSE | NASDAQ | S&P 500

Quote Data
Block Trade Count 2 Primary Exchange NYSE
Bid [Bid Size] - Ask [Ask Size] -
Open 10.6000 Previous Close 10.5600
Day Range 10.5500 - 10.6200 52 Week Range 4.3500 - 12.5500
Last Trade Size 1,800.00 Ex-Dividend Date Feb-16-11

Key Ratios and Dividend Data
Earnings/Share 0.03 P/E Ratio 359.17 Beta 1.05
Dividend/Share 1.137 Dividend Yield 10.72% Market Capitalization 3.24B

 

[Marc1962]

Morningstar shows the dividend yield. I found the "Morningstar's Take" section to be interesting:

This is one of eight covered call funds offered by Eaton Vance. For the most part, the funds have performed average or only slightly better than average compared with the covered call peer group since each fund's inception. The overall management of these funds has not produced great results. In fact, each of these funds has used return of capital routinely as part of its distribution, and it is often destructive to shareholder value. A recent round of significant distribution cuts (26% for this fund) shows that the fund's previous distribution policy was unsustainable. Investors should be wary.

 

[sheehs1]

Yes...I always find it confusing when they give something 4 stars but then include verbiage like this. Why do you think they give it 4 stars instead of like 1 or 2?

 

[Marc1962]

That's a great question. I do not know why the stars and the commentary do not agree.

 

[Westernskies]

UPDATE

pssssst.... Wellesley Admiral Shares.

Thanks to everyone who replied, appreciate the insight.