calmloki
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
Closing is today on the sale of two of our little rental houses. Had one for over 30 years and the other for 20 or so, so Unca Sam will be celebrating with us. One of those calmloki kinda sales - the buyer is a contractor/developer attracted by the land, location, and current income stream. He contacted us, we threw out a #, he made a reasonable counter, we stuck at our asking price, he came back after a few weeks and met our price. Walked him through once and the bank appraiser once. No corrections, repairs, or requirements. Nice to deal with a man who is familiar with property and knows whether he wants something. May have helped that his wife was a teller at the bank I run our rental account through, so she knew me for a # of years.
We've been pretty much 100% rental real estate - trying to move into something that is less hands on and allows more freedom and less stress. Currently we have roughly comparable amounts to the after-tax amount of this sale in PenFed's 3 year 6% and in various property loans. After subtracting 3.5% inflation I figure the loans and Penfed will provide about 21.5% of our desired annual retirement income. 'Course both of those investments are short term. The gal has a tiny new dab of Wellesley in her IRA, which I thought was a spiffy fund. Watching Unclemick and WAB and CFB argue it's merits or sing it's praises is entertaining - but I now note that none of them - including the cheerleaders - currently OWN Wellesley! Uhm.. hunh? I'm considering putting some $ into a European fund, thinking that if the dollar continues it's slide against the Euro that could provide a local profit even if it just marks time compared to Europe. I'm thinking that Billy has a point in selling stocks and paying tax just on LTCG. At 57 1/2 years of age I'm not real risk happy - no pensions, paid healthcare, SS entitlement in any appreciable amount. I figure by the time we divest of everything that we will need to make about 3.6% above a 3.5% inflation rate to support us at our current standard. Decisions decisions - put it all on black or park it in Vanguard Prime and keep reading...?
We've been pretty much 100% rental real estate - trying to move into something that is less hands on and allows more freedom and less stress. Currently we have roughly comparable amounts to the after-tax amount of this sale in PenFed's 3 year 6% and in various property loans. After subtracting 3.5% inflation I figure the loans and Penfed will provide about 21.5% of our desired annual retirement income. 'Course both of those investments are short term. The gal has a tiny new dab of Wellesley in her IRA, which I thought was a spiffy fund. Watching Unclemick and WAB and CFB argue it's merits or sing it's praises is entertaining - but I now note that none of them - including the cheerleaders - currently OWN Wellesley! Uhm.. hunh? I'm considering putting some $ into a European fund, thinking that if the dollar continues it's slide against the Euro that could provide a local profit even if it just marks time compared to Europe. I'm thinking that Billy has a point in selling stocks and paying tax just on LTCG. At 57 1/2 years of age I'm not real risk happy - no pensions, paid healthcare, SS entitlement in any appreciable amount. I figure by the time we divest of everything that we will need to make about 3.6% above a 3.5% inflation rate to support us at our current standard. Decisions decisions - put it all on black or park it in Vanguard Prime and keep reading...?
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