Recent content by FIREINDUS

Based on analysis, and points noted by "Senator" above, going ahead with 7/1 ARM and having the lender cover the closing costs. If you see anything major glaring, holler! Thanks!

Thank you posters #11, 12, 13, 14! Paying off in 7 years is not a feasible option though. 15 years may work, but prefer to set it to a longer term and pay earlier. There is no prepayment penalty on the loan. Every one hour or so, toggling between 7/1 ARM vs 30 year fixed, still have a few...

You are correct Senator on the assumption above. And yes, the point you have noted is what supports the 7/1 ARM recommendation. And the loan amount is 500k+ so it is 4.125% for fixed vs 3.5% on 7/1 ARM with closing costs incurred or 4% with no closing costs. Thank you!

Thank you posters #5, 6, 7. How long will we stay there? It depends; per current plan, about 7 years or more. (The idea of not paying back the loan, and using that to write-off on rental income is a noteworthy point). Did not shop around for a loan for fear of multiple credit inquiries...

Thanks to posters #2 and #3. Our initial application holds the 30 year fixed (not completely locked in yet), but our tax agent (and another friend who recently purchased a home) put forth the 7/1 ARM noting lower interest rate; and given our LBYM principle we will payoff the extra amount...

Hi All, Have asked the paid experts that we interact with, the broker, agent, cpa, etc., but they seem to have hidden interest in what they recommend to us. Many of you have many properties, could you provide your thoughts on this, given that there is no one right or wrong answer to this...

Good for you! Congrats!!

Thank you Dreamer! Have decided to go back to w*rk and the day I made this decision, now each day seems more like a worthy break, like a vacation... (the human mind!) Have assured myself to take extra weeks of break each year, travel more than usual and learn the balance. Also have to plan...

Thank you Midpack. Have read WLLM and its workbook. Will read the other two, starting with #1. Life is what we make of it, but now that there is more time to think about it, there are too many questions! :)

Thank you Aiming_4_55, obgyn65, rescueme, yakers, W2R. All very valid points. Though have the funds, it seems like I'm not ready. Aiming_4_55, have no immediate family around in the same town. Per my individual perception, folks who cannot find a job soon enough, seem less skilled. Wrong...

Thanks steelymann. That's about i,t is it? Feels like an anticlimax to what I was expecting FIRE to be like. Once I get used to this, then going back to the old schedule may feel the same probably! :)

FIRE has been something that I have looked forward to for long. Now, into a phase where have one year's expense in cash, rest of the amount in real estate and some in the market. A job just ended, so thought will give FIRE a shot. We LBYM, with some travel expenses (about twice a year) and...

For anyone considering this option in India, a retirement home with a good review would be an ideal choice rather than taking up an individual place and appointing a caretaker. The maids/caretaker are less reliable/trustworthy. A place where you could deposit a lumpsum amount and care is...

Thanks Desigirl and Manglore for the responses. Looking for a route to generate passive stable income that will support this 60000 Rs per month. Bank interest, inflation is a high risk. Indian equity and US taxes, not sure if it is the right equation. Rental income, there is always the...

Nice to see the posts. Can Desigirl or others, explain the above can be setup please, in India ofcourse? manglore, your plan looks good, with no personal experience, I cannot say much. But, always wonder if a rental investment is worth the principal, specially when you start it out new.