DaveSauce posted:

I like how the takeaway is, "Use a hard wallet."

Instead of, you know, "stop investing money in ponzi schemes."

DarkHorse posted:

quote:

OpenSea’s involvement sparked major controversy, with some alleging that NFTs could not truly be decentralized if it had “frozen” some, rendering them unsellable on the platform. Others pointed out that OpenSea had only frozen user’s ability to interact with the NFT through that one site alone—they could still be bought and sold elsewhere.

drk posted:

r/wsb today

reddit posted:

What's an exit strategy? $583K loss in my favorite stock (wife's account so its ok)

Alchenar posted:

Someone went back through OP's post history and apparently there was a point where they were $6m up and they just pissed it all away doubling down.

quote:

Help/Advice
Any advice on this would be greatly appreciated! My (18) mother (54) joined something called “NuSkin” last summer and has been selling products for them. She sells things through Facebook to her friends and extended family. I’ve asked her many times if she thinks NuSkin is a pyramid scheme and of course she says no, but I’m really worried. My parents recently got divorced and it left my mom financially unstable.

I’ve been working since I was 15 so I have a good chunk of money saved up, mostly for college. Since I was a minor when my bank account was made (the one I’ve been depositing all of my paychecks into since I was 15), my mom has access to my account. I started noticing transfers from my savings into a checking account that wasn’t mine, it was my mom’s. It started out as transfers of roughly $200 but in recent weeks it’s gotten worse, the highest amount she took being $700. When I asked her what the money was for, she said it was so she could order products from NuSkin and that she’d make the money back when she sold them.

I’m not a confrontational person so I took a while to think about how I wanted to talk to my mom about her spending money that she took from me without permission. I printed out my bank statements and highlighted all of the transfers and added them up, so it would be easy for her to know exactly how much she took & so she could pay me back. She was pretty careless when presented with the statements, she kinda just brushed it off. At this point I got a little frustrated and said “Can you please at least ask before you take money from my account next time?” to which she said “Yes,” but she continues to take money without asking. I’m worried that my mom will never be able to pay me back and that she blew through her own money for this MLM and is now taking mine.

I recently turned 18 so I will be opening my own bank account as an adult, but I’m not really sure how to do that and I don’t want my mom to know. Is this an MLM or will my mom actually be able to get her money back? Any help would be greatly appreciated, thanks for listening.

TLDR: Mom is “borrowing” money to pay for NuSkin products, hasn’t returned any of the money.

notwithoutmyanus posted:

Burning Wife Money: WSB edition.

notwithoutmyanus posted:

You didn't mention the best part, the title of the thread in wsb:

Burning Wife Money: WSB edition.

quote:

Looking to buy a house with my GF, any advice?

So just to keep it short, trying to buy a house with my girlfriend, we're only 1.5 years into our relationship but we're in a good position but I'm not looking to marry yet for another 2-3 years probably.

Is it a good idea for us to even buy a house together? If everything comes crashing down to a stop for any reason at all, I figure everything will be ok as long as we both put 50/50 all the way in, downpayment and monthly mortgage. Worst comes to worst is we sell the house and split whatever it is right down the middle. I'd like to iterate that things are going very well between the two of us so I don't see this happening, but i'm just emergency prepping.

Can it be that simple? Anything I might get blindsided with legally? Another thing is.. if we end up finding a dream house that is more expensive, if she doesn't have enough to put the 50/50 downpayment, would it be ok for me to pay more for the dp and then she pays more for mortgage until we get to 50/50 again? Any advice for this i would take as well

quote:

If you’re not ready to be married then you’re not ready to tie yourselves to 30 years of debt together. Buy the house on your own and your gf should pay you rent.

quote:

quote:

I don’t get how you aren’t ready to marry this person, but you are ready to buy a house with them.

here's the thought process: rent cost as much as a mortgage payment but we aren't building equity so we both feel like that's just money down the drain, interest rates are going up and will never be this "free" again to borrow, and we both have money saved up, so why don't we just buy a house and invest together. and it makes us feel like another step in terms of building our lives together a house is less permanent than a sacred bond of marriage because you can just split it in half and walk away clean, even if you do lose money

quote:

You are disillusioned. A house is like a child. It requires regular care and feeding. It’s also about as expensive. And sometimes it turns out to be an rear end in a top hat, just like kids. An expensive rear end in a top hat.

Would you have a child with this person?

quote:

Don’t listen to Reddit on this one, they give generalized advice, you know your relationship better than anyone here

That being said, I just did this, I bought a house with my gf and we made sure we put equal equity into everything we did and had documents of it (split down payment, split mortgage cost, etc etc) We were both on the deed, both named borrowers, etc etc.

Well one day the worst case scenario happened, and we actually broke up and decided to sell. We split everything evenly and it wasn’t messy at all. We are both decent people so we didn’t foresee loving each other over and we didn’t. So just keep that in mind and take an honest assessment of your relationship if you want to do this

quote:

If you break up with a house, then you get a house. If you break up while renting, then you have to pay a new security deposit. Seems pretty obvious?

quote:

quote:

Buying a house is a big deal, and is at least on par, if not more, than getting married. Would suggest, however, creating a separate joint bank account for all house related expenses, so it’s very easy to confirm the 50/50 split as one less headache.

I kinda disagree with this statement, but it could be just me. a marriage to me feels more sacred. you can always buy any house and walk away

quote:

I have been renting my house and want to approach the owner with a retroactive rent to own proposal, but need some guidance.

Okay I will try and make this as short and sweet as possible, but happy to provide any additional context to assist with answering questions, but since other people here have experience in property thought a good place to start.

I have been renting a home on a plot of land for probably about 3 years, paying $800 a month in rent + utilities. On the same plot of land there are three buildings, of those two are rented and currently occupied ($500 and $600 a month in rent respectively). Final building is more or less storage, lawn mowers, snow supplies etc.

When I first moved in like three years ago the owner made mention of possibly a rent to own agreement. I'm at a stage financially now where I think I would like to entertain those discussions. I understand I would need to buy the entire property not just my own. However I am unfamiliar with how to even phrase any sort of starting point with an offer. Of course would get lawyers involved when necessary.

But for the sake of discussion below lets use the below figures for discussion:

Ive occupied unit for 3 years @$800 per month ~$29,000 spent
In same period other units would have accounted for ~$40,000 in rent
No large scale repairs to my unit, I've actually put in more work than landlord (different story). But one unit has had some work done.
Zillow has property estimate at $190k. But other houses in area sold for about same and are just standalone houses. So assuming(?) value is higher and price per square foot x total square foot would be better cost estimator( again asking ?)
My questions (assumptions/thoughts below each - please feel free to correct)

What is a fair price for the plot of land. Is the Zillow estimate better or should I be applying logic of above bullet point?

Because there's no backyard as the houses take them up. So assuming remaining strcutures are same size combined as my unit not sure if I'm looking at closer to $190-$200k or $400k (seems crazy - but who knows)

What is a fair starting point for rent to own structure?

My mind says 60-70% rent retroactively applied to down payment / removed from sale price as literally none of the money has been put back into the house or the property beyond regular mowing and landscaping.

Anything else which I should be taking into consideration? Plan is continue renting other properties out if successful and hiring a property management firm to handle rent/repairs to separate myself.

So any helpful info with anyone who has experience in that realm would be helpful.

Thank you

quote:

I can't imagine any landlord is going to agree to a retroactive rent-to-buy.

quote:

"Hey, landlord! I'd like to suggest this totally one sided deal, will you please sign here?!?"

OP is out of their f'ing mind.

quote:

quote:

Not a chance.

You paid rent with no responsibility with the understanding it granted you access to live on the property for a month. Now you want to change the agreement to say 'it was that but also I want a discount to buy it from you'?

Why would your landlord take that deal?

No large scale repairs to my unit, I've actually put in more work than landlord (different story).

Don't spend a penny on a home you don't own.

Rent to own with a private seller is fraught with risk for you. If you want to buy the property buy it with a mortgage and close the deal. RTO is fraught with opportunities for you the 'owner' to get screwed and is almost always a scam.

I’m asking out of curiosity not because I took it as fact. Again my misunderstanding of the situation.

Funny how Reddit is a platform to ask questions and sometimes when you do the tone of the response sometimes comes off more “how dare you” vs here’s what you should do.

Sorry just venting since I’ve seen a few responses like this. I understand you’re trying to help just different degrees of bedside manner.

I’m glad I reached out for this clarification prior to proposing such a thing as it seems like I grossly misunderstood the word of renting

Leon Trotsky 2012 posted:

Leon Trotsky 2012 posted:

it was aliens

Leon Trotsky 2012 posted:

"I'm talking to another artist from India who says they will do it for 2 aliens."

DaveSauce posted:

I'm extremely tempted to find the thread and tell OP that the only way to make their money back is to short GME.

Ur Getting Fatter posted:

"nah don't worry about it it's decentralized" is gonna be my 2022 vibe

Leon Trotsky 2012 posted:

quote:

Is 7.2% APR on a used car over 72 months good?

I'm new to car loans and this is my first rate quote- is this a good APR for a used car over 72 months? From what I have researched this is average for good credit (above 700) or slightly above average. What rates are normal? This rate was given to me through Carvana for reference.

quote:

Short answer: No
Long answer: No, it is not a good rate.
Best answer: No

quote:

gently caress it!!! I got a car. It was similar to this rate. All Jess snow storms and what not here. My little car barely made it during non snow days. Brand new off the lot and I got tired of fixing that mother. Bought me a 2021 truck. Getting my student loans paid and got a raise at my PRN job where I educate but mostly sit down and eat Chinese food. Live man. Just live. And between both jobs I work 36 hours a week total. Salary on FT job but only required to work 6 hours a day. Live and buy your car. You’ll be fine

quote:

I can afford more of a down payment, and can do shorter than 72 months but I am much more concerned with having a lower monthly payment

quote:

A car is your baby. Don't ever worry about cost or skimp on quality with shoes, beds, or cars.

quote:

I’m looking at cars in the 16000-17000 range and my yearly is 45k due to covid work cutbacks this year.

quote:

quote:

That is definitely too high of an interest rate for a car loan. On the other hand don't listen to all this people saying if you are doing 72 months you can't afford it. You do what you can manage.

This is a 7 year loan. He might be able to manage it today, but maybe not in 2 years let alone 5.

Imagine having to delay important purchases for his unborn child because a car payment he signed up for 5 years ago is eating up his income.

The car costs about half his annual take home pay and that’s without interest and inevitable repairs/maintenance.

Definitely a horrible financial decision.

acidx posted:

The thing people don't think about with those long car loans is that usually like 4 years in you owe more on the car than it's worth and you want to get rid of it because it's developed some problems. Then you're hosed.

Leon Trotsky 2012 posted:

Guinness posted:

My 4 year old car needs a brake job and a transmission fluid change, it's on its last legs!!

Guinness posted:

My 4 year old car needs a brake job and a transmission fluid change, it's on its last legs!!

Motronic posted:

The thing is, add tires to that list and its well beyond a lot of people's ability to pay for other than on a credit card if even that. A new car comes with all of those things already and is "cheaper" because it's being financed for 96 months.

Pham Nuwen posted:

You can get financing on tires these days, right?

Pham Nuwen posted:

If your response to a 4 year old car developing some problems is to get rid of it and buy another one, you're already hosed.

Reminds me of one of my wife's friends, whose newish car kept getting broken into at school. Her solution was to buy a brand new car.

LanceHunter posted:

I was going to make a comment about how a big repair (like, a $5k transmission replacement) could come out to more than the value of the car. Then I looked up the price of used cars from 5 years ago and drat. I'm extremely glad that I've owned my car outright for 13 years now.

LanceHunter posted:

I was going to make a comment about how a big repair (like, a $5k transmission replacement) could come out to more than the value of the car. Then I looked up the price of used cars from 5 years ago and drat. I'm extremely glad that I've owned my car outright for 13 years now.

Upgrade posted:

Im stockpiling money and hope my car and survive for the next 18 months until the market calms down

pentyne posted:

you think that's crazy compare prices on used trucks

some of them are selling for higher then they sold new trucks 5 years ago

Cacafuego posted:

That’s because social media and tv fueled toxic masculinity has told every tiny dicked moron that you have to grow a beard and buy an American made pickup truck with 4 doors and luxury () features.

E: and boooooyyyy are there a lot of them

Cacafuego posted:

That’s because social media and tv fueled toxic masculinity has told every tiny dicked moron that you have to grow a beard and buy an American made pickup truck with 4 doors and luxury () features.

E: and boooooyyyy are there a lot of them

LifeSunDeath posted: