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A friends' mother did something similar. Ran up a secret 40k of credit card debt. Confessed to husband. Then did it again, but her kids paid it off without telling their father about it in order to try to save the marriage, I guess.
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Oct 26, 2018 21:58
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gvibes posted:A friends' mother did something similar. Ran up a secret 40k of credit card debt. Confessed to husband. Then did it again, but her kids paid it off without telling their father about it in order to try to save the marriage, I guess. Lmao, 
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Oct 26, 2018 22:00
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Share credit reports as part of a regular financial review session. Problem nipped in the bud. Do at least quarterly check-ins on that, expenses and budgets, and investment performance.
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Oct 26, 2018 22:18
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baquerd posted:Share credit reports as part of a regular financial review session. Problem nipped in the bud. Do at least quarterly check-ins on that, expenses and budgets, and investment performance. Set a minimum credit score and agree that falling below that is grounds for divorce. Communicating shared expectations is the key to success in a marriage.
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Oct 26, 2018 23:37
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Make it a romantic nights, print your credit reports on the back of your STD test results!
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Oct 26, 2018 23:50
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a little wine, a little experian, and a whole lotta romance
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Oct 27, 2018 00:05
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Harry posted:BWM is retiring when your wife secretly ran up $100k (that he knows of) in CC debt "over 10 years" (yeah right) One of my former in laws did that. He ran up a bunch of secret debt to help people out, then died, revealing it to his widow who definitely could not pay it all off.
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Oct 27, 2018 00:34
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Senor Dog posted:a little wine, a little experian, and a whole lotta romance https://www.creditscoredating.com/
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Oct 27, 2018 01:53
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I signed up to see what kind of dumpster tramps a man with my credit score could afford. The site is non-functional, and I would encourage others to look elsewhere to get their big FIC-Ohs.
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Oct 27, 2018 03:07
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Budgie posted:Saw some tree law, this is the good stuff: https://www.reddit.com/r/legaladvice/comments/9rfvln/update_flneighborstenants_cutting_down_my/ What the gently caress is going through the renters’ heads? And boy, is that marriage going to be rough once the lawsuit is over and one idiot father starts blaming the other idiot father for this entire mess.
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Oct 27, 2018 03:50
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Blinkman987 posted:What the gently caress is going through the renters’ heads? quote:Apparently while he was there they made a bunch of comments about me that included racial slurs (tldr: i'm biracial, and do not pass for white) and such about how I need to learn my place. quote:As expected, they blew up, and started throwing rocks at my house, slinging more racial epithets in my direction. I'd always grown up being terrified of angry racist white men twice my size, I never realized how unbelievably pathetic they actually are until I watched them crying like babies while being hauled off by the police on the video cameras. There were subtler hints of it in OP's first post, too: quote:I get the impression from our interactions they chafe a little bit that their new landlord is a woman in her late 20s, quote:When I confronted them, I was basically told that since they're my tenants, I'd just be suing myself, so I could "suck it up, buttercup".
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Oct 27, 2018 03:57
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I guess I’m trying to make sense of the actions of basically the Dumbest Americans but I can’t imagine the thought process that leads to someone to cut down some trees of all things.
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Oct 27, 2018 05:38
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Because we are conditioned to emulate our favorite celebrities https://www.youtube.com/watch?v=dCiageqMHJc
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Oct 27, 2018 05:44
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Blinkman987 posted:I guess I’m trying to make sense of the actions of basically the Dumbest Americans but I can’t imagine the thought process that leads to someone to cut down some trees of all things. They don't match the vision of the wedding. What don't you understand? Do you want to cause a marriage to fail you jerk?
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Oct 27, 2018 07:57
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I have to assume that restitution is going to be like squeezing blood from a stone though.
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Oct 27, 2018 17:55
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Volmarias posted:I have to assume that restitution is going to be like squeezing blood from a stone though. On the plus side it sounds like several people were involved with cutting down the trees so she can sue multiple defendants. I'm not sure if she can sue the brides who told their husbands/fathers to cut down the trees, but she might as well include them too. Get 2 or 3 generations in that court room and make them fight among themselves. They can discharge the judgement in a bankruptcy, but she can make it so that their credit ratings are smoldering craters for 7 years. Aren't there 'Do Not Rent' databases that landlords can put bad renters on? She can make it difficult for them to rent elsewhere as well. She probably won't get anything from them, but they won't be laughing about it.
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Oct 27, 2018 18:25
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Just saw this comment in /r/pf:https://www.reddit.com/r/personalfinance/comments/9ruwzd/is_a_military_career_a_good_option_if_you_have/e8k3inr posted:I also want to speak on the pay. I haven't really thought about it until I started working a civilian job that pays every 2 weeks. I imagine this person also warns about making too much money and going into a higher tax brackets.
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Oct 27, 2018 18:57
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Wanna buy a boat? 20 year financing available!quote:2017 Tige RZX3, Indmar 575 Supercharged with 117 hours, TAPS 3, Surf Link, Underwater lights, Power tower, All Wet Sounds with REV 10's. All speakers have LED's. Custom triple axle trailer. Boat is loaded. $99,950 20 year Financing Available. e: A used boat. gvibes fucked around with this message at 19:32 on Oct 27, 2018 |
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Oct 27, 2018 19:12
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SpelledBackwards posted:Just saw this comment in /r/pf: That sounds like the bodybuilding forum that had issues with how many days are in a week. http://gawker.com/bodybuilders-try-fail-to-calculate-number-of-days-in-1677545788
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Oct 27, 2018 19:51
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CitizenKain posted:That sounds like the bodybuilding forum that had issues with how many days are in a week. There is an excellent Jon Bois video (a redundant phrase, I know) on this, if anyone hasn't had the pleasure of seeing it https://www.youtube.com/watch?v=eECjjLNAOd4
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Oct 27, 2018 19:59
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gvibes posted:Wanna buy a boat? 20 year financing available! My old boss had a boat like that. Took us out in it once and it was rad as hell. He could afford it though.
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Oct 27, 2018 22:11
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I'm at my parents visiting and doing laundry (gwm) and apparently they had an appointment with an essential oil mlm person that is the daughter of a co-worker of my mother so I guess I got to hear an essential oil pitch
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Oct 27, 2018 22:20
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Today at lunch my father proposed to me his foolproof plan to get me my own property when my parents die: - they buy a 2-bedroom condo in one of the less desirable areas of Boston - they then have their LLC handle renting the bedrooms in the condo out to people - I rent one of the bedrooms from the LLC (note: I am already renting a 1br) - when they die, I get the condo - “it’s like when you’re paying rent, you’re paying us, who then pay you in the form of the condo” I’ve been dumbfounded ever since and have had immense difficulty in finding the words to express how bad of a gut feeling I have from this. I have little to no real estate knowledge or experience, but this still sounds mega fishy. Now I have to spend this Sunday at some real estate presentation they’re going to just to stop them from doing anything stupid. Why does this always have to happen? First it was the hockey stick stock market guy, now this?
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Oct 27, 2018 22:20
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The Slack Lagoon posted:I'm at my parents visiting and doing laundry (gwm) and apparently they had an appointment with an essential oil mlm person that is the daughter of a co-worker of my mother so I guess I got to hear an essential oil pitch Please livestream this.
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Oct 27, 2018 22:23
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milk moosie posted:Today at lunch my father proposed to me his foolproof plan to get me my own property when my parents die: All depends on the relationship you have with your parents but this is 100% a path to ownership and wealth acquisition that lots of people take. People (usually rich) buy houses for their kids to live in, either for the kids to pay rent into, or for the kids to pay the mortgage (but not downpayment) on. It's a big part of how wealth transfers between generations. It's GWM though sometimes BWL. Jordan7hm fucked around with this message at 22:26 on Oct 27, 2018 |
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Oct 27, 2018 22:24
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Jordan7hm posted:All depends on the relationship you have with your parents but this is 100% a path to ownership and wealth acquisition that lots of people take. But then why do this song and dance instead of providing the money for it or buying it outright? I might just have this awful mental block in anything involving finance, so maybe I'm totally misunderstanding, but this seems like some sort of weird, sketchy scheme. Also I am very not on board with my parents being involved in my life to that degree. I'll visit for Thanksgiving and Christmas, but rent from you...? What strings are attached, what's your real goal? That sorta poo poo.
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Oct 27, 2018 22:29
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TraderStav posted:Please livestream this. The bottom of the feet is a great place to put it on kids
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Oct 27, 2018 22:31
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So the LLC owns the condo...but who owns the LLC when his parents die? Wouldn't that property already go to him tax free as part of an inheritance as long as it's not enough to activate an estate tax? Or is his renting the condo giving the parents the liquidity to buy it? In which case he's paying for his own inheritance? Jordan7hm posted:All depends on the relationship you have with your parents but this is 100% a path to ownership and wealth acquisition that lots of people take. During the mid-aughts housing boom parents would buy a town home near the Georgia Tech campus for their kid to live in. It made sense as long as housing prices continued to rise since otherwise they're still spending approximately $30+k for a dorm room. In this case they spent about $60k over 4 years, but that could be offset by roommates and when the kid graduates they can sell the house at a profit. It worked out great for everyone except the people who bought in 2007 and sold in 2011.
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Oct 27, 2018 22:42
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milk moosie posted:But then why do this song and dance instead of providing the money for it or buying it outright? I might just have this awful mental block in anything involving finance, so maybe I'm totally misunderstanding, but this seems like some sort of weird, sketchy scheme. Pro: this is almost the same thing as a mortgage and you get a house in the end Pro: you get to have a mortgage without needing to borrow the money and your credit is unaffected Pro: if times get hard, you can probably skip a rent payment or two Con: you get to have a roommate for approximately forever Con: your parents are your landlord Con: if something happens to your parents' money, unless they themselves paid cash for the condo, oops you didn't actually have a mortgage after all There is nothing inherently wrong with this, but if you do go ahead with it I would insist on a 1 BR and also on a property management company handling repairs unless you really want to call your dad over for clogged toilets.
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Oct 27, 2018 22:47
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Krispy Wafer posted:So the LLC owns the condo...but who owns the LLC when his parents die? I asked my dad this question and his response was “you don’t have to worry about that, all you need to care about is the property you get at the end”. Quite literally this: https://youtu.be/yNxPVj0hejg quote:Wouldn't that property already go to him tax free as part of an inheritance as long as it's not enough to activate an estate tax?  They wouldn’t share any of those details. Which is why I think they have no idea what they’re doing. That said, I also know I know nothing.quote:During the mid-aughts housing boom parents would buy a town home near the Georgia Tech campus for their kid to live in. It made sense as long as housing prices continued to rise since otherwise they're still spending approximately $30+k for a dorm room. In this case they spent about $60k over 4 years, but that could be offset by roommates and when the kid graduates they can sell the house at a profit. It worked out great for everyone except the people who bought in 2007 and sold in 2011. That was about the era when my parents faceplanted their first attempt at real estate stuff, so I wouldn’t be surprised if they still think this way.
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Oct 27, 2018 22:48
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Adar posted:Pro: this is almost the same thing as a mortgage and you get a house in the end That roommate one is a hard no, and also the strict requirement on sticking to a location and stuff. Also I have no input or insight into the state of their affairs so I have no proof the money will stick around or is even there in the first place. Also, not house, 2br condo split with another person who is required to pay rent. Still housing tho.
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Oct 27, 2018 22:53
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milk moosie posted:I asked my dad this question and his response was “you don’t have to worry about that, all you need to care about is the property you get at the end”. It's all fine but tell them you want to just rent out both rooms as income property. That way you get double upside. Also if they are serious about all of this it's time to pony up for a lawyer. But all they need is an estate plan (trust) and to make it own the llc.
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Oct 27, 2018 22:53
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Either you pay rent to someone else and they collect rent from someone else, or you pay them for the unit. Either way both of your cash flows are the same. If you live there it’s a guaranteed tenant who is less likely to trash the place, but it is also a fraught situation. Presumably one bedroom in a 2BR in a worse neighborhood is cheaper than your current rent, but at what cost. As for people buying houses on campus, that seems like a great way to end up asking “which one of your friends broke/stained/destroyed X”. Which I guess probably matter less on resale because the buyer will have the same wear and tear. Plus social host liability!
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Oct 27, 2018 22:54
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Spokes posted:There is an excellent Jon Bois video (a redundant phrase, I know) on this What happened and why did they stop coming? There hasn't been a Chart Party for, what, more than two years?
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Oct 27, 2018 22:55
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Phanatic posted:What happened and why did they stop coming? There hasn't been a Chart Party for, what, more than two years? the more recent chart parties are all on the SB nation youtube, there are also a couple of dorktowns which are similar but shorter. No releases in the last couple of months iirc, because he's working on some super long MMA thing
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Oct 27, 2018 23:03
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milk moosie posted:That roommate one is a hard no, and also the strict requirement on sticking to a location and stuff. Also I have no input or insight into the state of their affairs so I have no proof the money will stick around or is even there in the first place. Tell them thanks but no thanks sounds like they want a free property manager and you don't want to be stuck with a roommate you don't pick and can't throw out.
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Oct 27, 2018 23:17
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Elephanthead posted:Tell them thanks but no thanks sounds like they want a free property manager and you don't want to be stuck with a roommate you don't pick and can't throw out. That wouldn't make sense, cause they're not in this to be landlords - their (supposed) intent is to provide their child with a housing opportunity. Which I've already got and can handle well enough, so... I guess the question is, if they want to help provide a housing opportunity, is this really their best bet? What should they do? If it was up to me, they'd provide my brother and sister with a place, instead. But they say they're already providing for education, so... Pollyanna fucked around with this message at 00:00 on Oct 28, 2018 |
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Oct 27, 2018 23:57
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This sounds like a harebrained scheme to both control you and get you to subsidize their investments. My uneducated guess is that six months into this you're the new unpaid manager of the property with only a prospect of some future inheritance to hold you over. And then after 10 years they suddenly decide to sell it and you've got nothing because you never had an ownership stake. I get the concept of providing something for you since they're paying for your siblings' education and maybe putting it into a LLC protects it for you. But at the same time without a pretty ironclad will you're likely to have to share your 'inheritance' with your siblings anyway. There's a lot that can go wrong here and I see a lot of opportunity for bitterness and infighting.
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Oct 28, 2018 00:11
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milk moosie posted:That wouldn't make sense, cause they're not in this to be landlords - their (supposed) intent is to provide their child with a housing opportunity. Which I've already got and can handle well enough, so... These are really good questions for them to ask an estate planning attorney. It’s hard to tell if this is some sort of way to even out inheritance between multiple kids or if this is some sort of tax avoidance scheme. Either way, they are probably over complicating it a lot. If your parents are cool with it, you can tag along with them, so you don’t get the info second hand.
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Oct 28, 2018 02:26
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You need to consult an estate planning attorney before you, personally, sign anything. Once you sign something there's no guarantee you haven't assumed any liabilities. Normally, inheritance law guarantees you will only receive net positive assets (ie: the estate will pay for all debts and if there's anything left, you will inherit it). Depending on what your parents are doing, they could be circumventing inheritance law and just setting up an asset in your name, which you will be liable for if you sign and agree to the terms. If you can't pay for the lawyer yourself and your parents won't do it to put your mind and ease, then it's up to you to consider whether the risk is worth the reward and nobody on the Internet can or should give you a definite answer on that.
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Oct 28, 2018 02:34
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