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Old 06-29-2009, 08:25 PM   #21
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I thought Puerto Rican bonds were unofficially "backed" by the US govt, making them safe. I can't find comfirmation of that, brewer do you know the answer??
That's the first I have heard of it. Sounds like a dangerous assumption to make, and the public ratings of the bonds indicate that no such support is expected by Moody's or S&P.
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Old 06-30-2009, 08:15 AM   #22
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Municipal Securities Rulemaking Board::EMMA
I entered
"GENERAL OBLIGATION STATE" in the green Search window (upper right)
and got a curnucopia of state issued GO bonds.
Then I entered
"GENERAL OBLIGATION NEW YORK"
and got my state GO bond offerings.
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Old 07-17-2009, 03:55 PM   #23
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In ref to
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I'll be curious to hear what options they present you with.
a few posts ago.
Well, my CD's expired and I meet w/my FA ?? (aka: salesman) with check book in hand to look for some 4-5 year maturity date tax exempt municipal bonds. It ended up a disaster, he could not find any short term that paid anything decent, had no idea of how to look at the resale market (not that he spent more than 10 mins trying) . And spent two hours trying to sell me annuities, mutual funds, high cost administration packages, guaranteed 5% a year packages that were 3% a year plus 5% up front, Unit investment trusts with 5% front end loads, etc, etc. This guy was a snake oil salesman from the get-go. I almost told him to start reading this forum as he might learn something. I ended up with a headache and walking out with my check book in hand no money invested. I'm still looking..
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Old 09-09-2010, 10:29 PM   #24
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Don't forget about Pen Fed. Still offering 4% on a 5 year CD that you can cash in any time for a 6 month interest penalty.
I see a lot about Pen Fed but unfortunately I don't seem eligible to invest with them. Anyone else have this problem or know how to be eligible?
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Old 09-09-2010, 10:35 PM   #25
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I see a lot about Pen Fed but unfortunately I don't seem eligible to invest with them. Anyone else have this problem or know how to be eligible?
See #7: https://www.penfed.org/howToJoin/overview.asp
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Old 09-09-2010, 10:36 PM   #26
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I see a lot about Pen Fed but unfortunately I don't seem eligible to invest with them. Anyone else have this problem or know how to be eligible?

If you have $20 and don't mind making a one time $20 tax deductible donation to organization that helps military families. (There are two wars going after all) You too can become a PenFed member.

See here.
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Old 09-10-2010, 09:23 AM   #27
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I see a lot about Pen Fed but unfortunately I don't seem eligible to invest with them. Anyone else have this problem or know how to be eligible?

Current rate for 5 years is 2.75 percent

https://www.penfed.org/productsandra...rtificates.asp
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Old 09-10-2010, 10:40 AM   #28
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I dabble in Muni Bonds occasionally because of their Tax Free income (which may or may not be helpful to other peeps in this forum).

Charles Schwab has great access and good information for finding/purchasing them. They also provide personal advisor assistance if needed over the phone.

I also have a Merrill Lynch Broker who finds & purchases them for me.

Unfortunately - the ones I purchase are usually long term (10 - 20 year terms unless called) but from what I can tell they aren't as dramatically affected by interest rate changes as other fixed income products. Just hope the interest rates will offset inflation...no crystal ball there.
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Old 09-10-2010, 02:54 PM   #29
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Unfortunately - the ones I purchase are usually long term (10 - 20 year terms unless called) but from what I can tell they aren't as dramatically affected by interest rate changes as other fixed income products. Just hope the interest rates will offset inflation...no crystal ball there.
You are a sophisticated investor with high quality resources, so I would not presume to offer you suggestions. But it does occur to me that if you want to get more free time away from your building management, might it not be better for you to just spend a little of your excess cash flow to buy more managenent services, but keep your capital concentrated in quality cash-flowing real estate investments?

Like you say, who knows what will happen, but of the various possibilities it seems to me that both poles might just torpedo long term municipal debt, whereas conservatively financed residential real estate in the Seattle area is likely to abide.

In the 70s I knew a few retired guys. I remember two clearly because they had parallel situations going in, but choose different routes to meeting their needs. One was a retired dairy farmer from NW WA who sold his farm and invested in munis. The other was a retired Alberta wheat farmer who sold his farm and bought apartments in Vancouver, BC, while living in the Canadian Okanogan. When the 70s inflation hit, one guy did very well, the other guy suffered.

Ha
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Old 09-10-2010, 04:01 PM   #30
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You are a sophisticated investor with high quality resources, so I would not presume to offer you suggestions. But it does occur to me that if you want to get more free time away from your building management, might it not be better for you to just spend a little of your excess cash flow to buy more management services, but keep your capital concentrated in quality cash-flowing real estate investments?
Ha
Actually HA I am definitely not very sophisticated about investing, just hardworking & darn lucky in RE, LOL! Peeps like you & Brewer & the others here are light years more advanced, trust me.

I am currently in escrow (contingencies off!) to sell 3 of my properties (about 30 units) on a note & DOT to an investor I know (YAY!! ). It is a good deal for both of us & I have a lot of confidence in her ability to manage the buildings, plus I may occasionally provide input. This will bring in over $10K per month of interest income which may last up to 10 years, knocking me into a hi tax category when you take into account that I still have another 100 apt units I derive income from. The bottom line is the IRS is gonna love me come tax time. The Munis are like damage control (against tax liability) to some extent and only a small part of my investments -- always will be a lot of RE equity.

I am hoping next year to maybe get a management company in, it will be easier with a Lighter Work load w/out the xtra 30 units (double YAY!) but I also feel there is one more bldg I would like to jettison....
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Old 09-10-2010, 10:36 PM   #31
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Don't forget about Pen Fed. Still offering 4% on a 5 year CD that you can cash in any time for a 6 month interest penalty.
Brewer,
You mentioned 4%, 5 year CD's so I searched and found https://www.penfed.org/productsandra...rtificates.asp but that indicates 5 year CDs are only 2.75%. I am looking at the wrong place?
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Old 09-11-2010, 08:51 AM   #32
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Brewer,
You mentioned 4%, 5 year CD's so I searched and found https://www.penfed.org/productsandra...rtificates.asp but that indicates 5 year CDs are only 2.75%. I am looking at the wrong place?
Brewer's post was from 6/09 and I think they maintained that rate until earlier this year, but now the rates have dropped. Currently there is a 5% 10 yr reservation offer, but it seems not everyone can access it. You'll find two threads about the PenFed CD reservation offer in this forum.
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Old 09-13-2010, 06:39 PM   #33
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Have you seen this?

UPDATE: Harrisburg Will Make GO Bond Payment With State Help - WSJ.com

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Agree on GO bonds, I use them all the time. Broker is pushing mutual funds because he makes a lot more on them than on selling you bonds........
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