Personal Finance Celebrities buy properties as an "LLC-shielded" buyer. I imagine, done for privacy. Is this something a normal person can set-up? |
- Celebrities buy properties as an "LLC-shielded" buyer. I imagine, done for privacy. Is this something a normal person can set-up?
- Over the years I have accumulated a load of credit cards. Should I keep them all active? Will closing them hurt my overall credit outlook?
- Parents suggesting I buy their house for under market value to relieve their mortgage, as they are downsizing as the kids are leaving
- Just got $100 Check from my credit card company. Always read find print for Arbitration Opt-Out.
- Google Play store used to fraudulently steal $199.99 from me, and Google refuse to help. What steps can I take?
- Transferring credit score from UK to USA to buy a house
- How much home is too much to buy
- My dad saved too much in his 529 account for me, what should I do?
- Company Changed 401k Providers
- Teaching saving and finance concepts to kids
- Should I use my savings to pay off my student loans?
- Need some dissenting opinions, got a fantastic offer lined up, but incompatible with current personal situation
- Co-Signing lease for/with partner
- Boyfriend still owes 13k on car, trade in value is 13k, pays 6% interest on 80 month loan and is only halfway through it
- Getting $55K in inheritance. Need advice on best way to roll it into my retirement contributions.
- Should I refinance?
- My SSI is about to be garnished by Midland Credit Management for $1500.00 Please Advise
- Is asking the seller's agent why a pending sale on a home fell through a reasonable question?
- Is getting an auto loan worth it if I can buy in cash?
- New position in my career field, not sure what to do
- First time on salary, how should I invest?
- Advice needed: Should I apply for a lower interest bank loan and pay off my high interest credit cards?
- Sell now, rent and buy later?
| Posted: 18 Oct 2020 10:51 AM PDT Do you actually have to have a state-registered LLC business conducting normal day-to-day operations (profits/losses) or is "LLC-shielded" buyer something different? And what are other ways you can have privacy of records when buying a home? Example, in Texas, you can use a person's first and last name and the county they live and find their exact address and how much the home is appraised for, etc. [link] [comments]  |
| Posted: 18 Oct 2020 02:50 AM PDT I have 18 credit cards which an overwhelming majority are and have been at a zero balance. I get them for bonuses and specific deals when need be and then just never use them again. I have a mortgage and 2 car payments. Revolving utilization is at a steady 5-15 percent. I only use a couple of them frequently and have them set to pay balance every statement. A couple I have them for special 24-48 month special 0 percent financing so that where I carry a balance. Credit score hovers around 775-800. Is there any reason to not close cards? How do I get my score into the mid 800's? I honestly don't envision anything in the near future that would require me to have a perfect score but you never know. [link] [comments]  |
| Posted: 18 Oct 2020 05:51 PM PDT Hi Everyone, I'm 23, and leaving home in a few months for a job making approximately $75K a year in Atlanta. I do not plan on returning. My parents have already purchased a new home, as my family has reached the age where everyone is ready to leave home. They are currently selling the house that used to be the family house, and are currently under contract to sell it for $340K. However, today my father offered me the opportunity to purchase the house for the value of their remaining mortgage (280K), to relieve them of the burden. He made this offer to me, stating that he would manage the property, rent it out as a 2 family, cover the mortgage with the rent money and send me the remainder of the profits. The house is in a location approximately 1 hour by train from New York City, in a nice neighborhood in suburban New Jersey. I am worried about this offer as I am still young, and while I could come up with a down payment and have excellent credit, the down payment would be the majority of my savings. The down payment money could possibly come from my family, however, as a further assistance. I have not discussed such yet. I have not discussed this option further and have not committed. I am also hesitant to mix business with family, as I have heard time and again that this is a bad idea. On the other hand, this could end up being a profitable venture, which could very easily provide a lot of extra income for myself, possibly enough to cover rent in Atlanta, allowing me to save much of my salary for other investments and expenses. I would like some advice on the matter, but am currently leaning towards declining as I am apprehensive about doing business with my family in such a way, as well as taking on such an investment at so young an age. On the other hand, people don't really make money without taking a risk here and there, so I am a bit torn on the prospect. Thanks for reading. [link] [comments]  |
| Just got $100 Check from my credit card company. Always read find print for Arbitration Opt-Out. Posted: 18 Oct 2020 08:47 AM PDT When you get a new credit card (or any banking product) read for Arbitration Opt Out in the fine print. I always send them in. Just got a check for $100 from my credit card company because I was part of a class action. [link] [comments]  |
| Posted: 18 Oct 2020 07:20 PM PDT The problem in an nutshell: Somehow a hacker got hold of my Google account password, and used the debit card I have saved as a payment method on Google Play to download and subscribe to an obviously fake app I have never used to a device I don't own, to charge $199.99 to my account. The hacker then submitted a fake review on the app in my name, and put a filter in my Gmail account to prevent me automatically getting the purchase notification from Google Play (which was, when I found it, all in Russian!). I submitted an Unauthorised Payment claim with google which was eventually rejected because they say they "cannot verify" it, despite not once asking me for more information! I have contacted my bank, but they say that though they will look into it to see if they CAN help, this is something I need to deal with Google directly about. What further legal steps can I take to resolve this, and get my money back from Google that was stolen from me using their systems? Any and all help and advice appreciated. Edit: I am in New Zealand, by the way - in case that helps at all. [link] [comments]  |
| Transferring credit score from UK to USA to buy a house Posted: 18 Oct 2020 03:29 AM PDT I'm a British citizen living in the USA for a few years and interested in buying a house here. My credit in the UK is good, so after applying to mortgage companies was pretty disappointed when they said I have zero credit showing up in the USA and so can't get approved for a mortgage. I've looked at applying for credit cards here to build it up, but because I'm not from The US and have zero credit I can't even get basic store credit cards. People must buy houses from abroad here, does anyone have any experience with this? Do I just need to get a very basic security credit card teenager's get here and spend years building credit to get a good mortgage deal? Thanks! [link] [comments]  |
| How much home is too much to buy Posted: 18 Oct 2020 07:04 PM PDT Greetings, my fiancé and I are looking to buy a house and the one we like is $330,000. I make about 80k a year (self-employed) and she makes about 46k a year. I already own a small home that's worth about 135k. We collectively have about $56k in savings. Is $330k too much for a home based on how much we make? If not, what's the best way that we should go about buying the house? Should we use the equity on the home I already own? Thanks! Edit: I have 4k in car debt. That's it. The house that I currently own probably has 20k in equity. [link] [comments]  |
| My dad saved too much in his 529 account for me, what should I do? Posted: 17 Oct 2020 09:37 PM PDT Hi everyone, I'm currently a senior nearing the end of my college career, and apparently I didn't spend enough money because my dad saved a lot and I spent too little. I'm pretty frugal in general, and I'm wondering what I should do about this, or if there's any way to give it back to him? He literally just asked me to spend more and to look up what expenses are allowed, so also are there any clever ways you know of for using a 529? [link] [comments]  |
| Company Changed 401k Providers Posted: 18 Oct 2020 05:52 PM PDT Company changed 401k from Voya to Transamerica. I was in a 100% bond fund with Voya but they transferred it all into a target date fund. I thought they were supposed to transfer it into a similar fund. Is this not the case? Edit: I'm in 100% bonds because I'm trying to time it. Former trader so I do have market experience. I changed to bonds in Feb, bought the whole way down, converted back to bonds in Sep. I know, it's not recommended but my account is up substantially this year. I'm unable to make any reallocations until the end of the month due to blackout period. [link] [comments]  |
| Teaching saving and finance concepts to kids Posted: 18 Oct 2020 08:59 AM PDT I am thinking of introducing the concepts of saving money and personal finance to my 9-year old. I am wondering if there is an ideal time for kids to learn such concepts. Also, about the approach. What could the best approach possible? Any suggestions, ideas and experiences you share are much appreciated! [link] [comments]  |
| Should I use my savings to pay off my student loans? Posted: 18 Oct 2020 05:39 PM PDT Hey guys, so I've been self employed for the last six years. I have been very fortunate in that I have been able to build up a bit of savings during that time. I am a college dropout and still have about $10k on my student loans. Fortunately they are all government loans and no private loans. Because of the pandemic I don't have to pay my loans and they are not gathering interest until January 1st. My question is would it be a smart move to use the majority of my savings to completely pay off my loans before then? I am cautious because it took years to save up this much and I never expected to even have savings. Another thing to note is I have no investments, 401k, IRA, or any kind of retirement other than what's in my savings. It just seems like a rare opportunity to take care of this. This is also the only debt I have, I have one credit card and pay it off monthly. Any advice is appreciated and thanks in advance! [link] [comments]  |
| Posted: 18 Oct 2020 04:41 AM PDT 28, currently live in Scandinavia as a south american immigrant. Finishing my PhD. Got an offer lined up to join a biotech company in Boston, starting in the spring 2021. Job will be at least 3 years, in my desired occupation, and surrounded by MIT and harvard collaborations. Girlfriend (swedish) doesn't want to move for long periods of time. Her parents don't have much time left, both late 70's, and family is very important for us. And on a personal level i've never been happier, and i know i am determined to make my life in Scandinavia. The USA is not for me on the long term. So i'm faced with an offer of money and expertise but in a culture that's not compatible with me and a potential fallout with my beloved SO. The alternative is to search for my own path after my PhD is completed in march/april, but nothing around here would match the opportunity in Boston. Thanks for your time. Let me know if you guys have any questions, i do need some different takes on the matter. [link] [comments]  |
| Co-Signing lease for/with partner Posted: 18 Oct 2020 07:48 PM PDT Hello all! I'm (m/24) in a situation where my girlfriend (f/24) is looking to rent a condo (we both live in Toronto if that matters) in the very near future. However, due to her current work situation she may not be able to qualify to be on the lease by herself (she is currently on disability leave and isn't earning as much as she usually is). She'd asked if I'm willing to Co-sign a lease with her. I just want to know how that would affect me if I were to co-sign her rental agreement? I'm currently in the middle of paying off student loans and financially I do not earn as much as she does. Would this 1, affect my credit score and my taxes? 2, affect my student loans? and 3, affect my chances of renting or buying a property in the future? TL;DR How will co-signing my girlfriends lease affect me financially? Good idea or bad idea? [link] [comments]  |
| Posted: 18 Oct 2020 06:20 AM PDT My suggestion is trade it in and get a personal loan for a winter car around 7-8k (we get tons of snow here and his current car is awful in snow) like a Volvo. He has 750 credit and his car payment is $360 a month. Does this make sense to do, as he's not technically "underwater" on it, but he won't be making money off of the trade in. [link] [comments]  |
| Getting $55K in inheritance. Need advice on best way to roll it into my retirement contributions. Posted: 18 Oct 2020 04:28 PM PDT I don't really need the money right now. But it would be nice to pull it out at some point for maybe A) Down payment on next house or B) future business startup. CURRENT SITUATION: AGE: 41 AGI: About 75K Annual Retirement Contributions: About 12K, or 16% (Not including what is going into Emergency Savings. About $300 month) 401K HSA ROTH IRA: Rollover IRA Emegency Savings: BROKERAGE It looks like the IRA max is $6000 for 2020, so I could still invest about $4K into the IRAs. (Roth or Traditional) Does it make sense to also increase money into the 401K? (Using pre-tax money from direct deposit). Not sure where my next step is. [link] [comments]  |
| Posted: 18 Oct 2020 05:12 PM PDT I recently looked into refinancing my mortgage. I'm currently 5 years into a 30 year fixed rate with a 3.875% interest rate. I could refinance to 2.875%. This would save me $50 a month on my payment. Is this even worth it? Should I wait for something better in a year or two? I do plan on staying in the home indefinitely. [link] [comments]  |
| My SSI is about to be garnished by Midland Credit Management for $1500.00 Please Advise Posted: 18 Oct 2020 06:43 PM PDT I am in poor health and on SSI $783.00 a month Last Holiday season I got in a bad way with a Capital One Visa Card Everything went to collections I have a court date for Midland Credit Management on Tuesday. They never agreed to a settlement or payment plan or anything verbally and refused to in writing I take full responsibility but I am not physically well and can't have my SSI garnished and bank account destroyed I've been ill since 2017 and have had no direct deposits not pertaining to SSI that whole time What do I do when I go to court? [link] [comments]  |
| Is asking the seller's agent why a pending sale on a home fell through a reasonable question? Posted: 18 Oct 2020 03:35 PM PDT Found a home in a very desirable area. It was listed a couple of weeks ago, and two days after listing there was a pending sale. Now the house is back on the market, with no adjustment to price. Is asking the seller's agent why the deal fell through a reasonable question? [link] [comments]  |
| Is getting an auto loan worth it if I can buy in cash? Posted: 18 Oct 2020 05:54 PM PDT My credit history is pretty short (mid 2018) since moving permanently to the US, but score is at about 750 based only on good cc usage, and cc limit is roughly $5500 across three cards. No other debts. Recently landed a new job paying $115k but the commute on public transport is aweful, so I'm looking into a ~$6-8k car. I have the cash, but I also plan to buy a home in about 3 years time in a mid-HCOL city and I want to be prepared for that. Rent is $1000 and other expenses are low, so with the new income I don't anticipate getting an auto loan if I wanted it for the full/most of the amount of a potential car. Should I get a partial or full auto loan for this car to boost my credit history, even if I could get it in cash? I'd likely pay it off pretty rapidly, but is it worth paying interest on something you can get outright from day 1? [link] [comments]  |
| New position in my career field, not sure what to do Posted: 18 Oct 2020 05:47 PM PDT I have been a truck/delivery driver for 28 years and I am in the top of my field. I have been with my current employer for 15 years. I am 48 years old. My boss sold off part of his company, 8 routes to be exact. He sold them to a investor who knows nothing and wants nothing to do with the day to day business. My boss recommended me to run this new company for the investor. Let's call him Bob. I have not yet met Bob. But will be meeting him before the end of the month. From what I gather this first meeting is just a formality. How do ya do's and what not. I want to meet with Bob and discuss salary, duties, expectations etc. I have a female friend who owns 5 business and works with investors. Once they make their nut she buys their share and runs the business. She has explained to me that there are two types of investors, the kind that want to be involved in day to day and those who don't. The one's who want to be involved in the day to day want to maximize their profits at the cost of the business and employees, once the company is bankrupt they bounce. The hands off wants to make their nut, sell and move on. If this is the case for Bob I will then want to buy the business from him. The company is growing, we have already been adding 4-5 routes a year. Which means I am looking at adding at least 1 new route a year. I have never negotiated for my salary before. There are things I will need, like a computer, printer/copier, new iPad and other misc things. I will be working 7 days a week to start, I will have to go into the warehouse every day to make sure everyone gets on the road. I will have to run a small route form time to time. Take phone calls for breakdowns, call in's, getting stuck, customer complaints etc. which means more gas and miles for my personal vehicle. I will be responsible for all maintenance and repairs, DOT inspections, insurance etc. Should I ask for him to buy the computer, iPad etc or should I buy those to deduct from my taxes? How about my cell phone? Should I ask him to have the company pay for that too? Would it be fair to ask Bob to have the company buy my gas? How much should I ask for for a salary? How do I negotiate for a salary? Any input would be greatly appreciated. [link] [comments]  |
| First time on salary, how should I invest? Posted: 18 Oct 2020 03:57 PM PDT Hey all, so I was lucky enough to get a new job with a salary of 52k, this is far more then I'm used to making and I'd like to work on investing it after I get my essentials. My first purchase is going to be a vehicle since mine has broken down, after that there are only a few pleasantries I'd like to get. (PS5 and some computer upgrades) Other then that my regular bills are around $900 - $1000 a month at the moment. With this much leftover I want to make sure I'm doing something more then just let it pile up in my bank account. Any advice is appreciated! [link] [comments]  |
| Posted: 18 Oct 2020 07:41 PM PDT So I have 2 credit cards that carry a 26% interest rate. One is through my bank and has been almost maxed out for years. The other I use for dental (I don't have insurance) and vet needs. It is almost maxed out now. Combined the debt is a little less than $5k. My credit score is in the low 600's. I ask for several reasons- I make barely enough to cover my monthly costs while splitting bills with 3 roommates. I just graduated so I'm in the process of changing that. I don't have excess income to be able to put toward the principle. I barely survive making the minimum payments (which barely touches the principle at all). The other issue is I have to get some extensive dental work done ASAP that is going to go right back on that high interest card. Before the end of this year alone, I will be spending upwards of $3k on dental health. I do have a dental discount plan that helps, but I don't have the money to pay for it outright, so the card has been a godsend. I don't even have savings. TLDR; I'm not sure what I could qualify for, but I know I could probably get a $5k loan with a lower interest rate than 26%! Would this be a good idea? If not, what would you suggest? Thank you for reading! I am trying to learn everything I can about finances. My parents are super financially irresponsible and I'm trying to avoid ending up in a similar situation. [link] [comments]  |
| Posted: 18 Oct 2020 02:25 PM PDT We currently live in a townhome in the suburbs of Boston. We are initially planning to move into an single family home, but given the hot market, nothing is going for a fair market share. I do want to cash in our current home value, which is also over-valued and rent for 1-2 years, before buying a single home once the market stabilizes. Until the rent a similar home that we currently live won't make a big dent (given the low rental demand). Will it be wise to sell out townhome and invest the home value in safe market vehicles and buy at an opportune time later? [link] [comments]  |
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