Did you refinance it? Why didn't you lock in a mortgage?

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May 12, 2022
10:02:54am

ebv All-American

Did you refinance it? Why didn't you lock in a mortgage?

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ebv

Bio page: ebv
Joined: Jan 12, 2011
Last login: May 28, 2024
Total posts: 11,919 (681 FO)

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Messages

Author

Time

If you were sitting on a wad of cash, if 500K what would you do with it now?

RedBeard

5/12/22 9:55am

Buy a rental property, perhaps

Dan

5/12/22 9:56am

I just did that recently

whoneedscorners?

5/12/22 9:59am

Did you refinance it? Why didn't you lock in a mortgage?

ebv

5/12/22 10:02am

We paid cash

whoneedscorners?

5/12/22 10:04am

Darn. Sorry to hear that. Hopefully the flip goes well.

ebv

5/12/22 10:06am

It will be okay

whoneedscorners?

5/12/22 10:08am

Not judging here but why did you pay cash, rather than finance it up front, and

Iman23

5/12/22 10:08am

Or were you going to get your cash back out with a higher appraisal? That could

Iman23

5/12/22 10:11am

The transaction was such that we needed to move quickly with a cash offer

whoneedscorners?

5/12/22 10:17am

Have you asked your neighbor for ideas?

Gustav

5/12/22 9:57am

RE: If you were sitting on a wad of cash, if 500K what would you do with it now?

Sea Chicken

5/12/22 9:59am

RE: If you were sitting on a wad of cash, if 500K what would you do with it now?

Indy Coug

5/12/22 10:01am

Take half and DCA the market as it continues to go down.

byubyu

5/12/22 10:02am

This is the way.

ebv

5/12/22 10:03am

Pick a time to put it in VTI, VTSAX or similar. Either lump sum or DCA. That's mostly because I have a long investing

slappy

5/12/22 10:03am

Buy a Lamborghini.

Flippy

5/12/22 10:03am

nothing

Belboz

5/12/22 10:07am

Buy some land and develop it on the coast! In six months, I'll let you know if

toadie

5/12/22 10:08am

Build a house and be my own GC

Idacoug

5/12/22 10:13am

What is your exit timeframe? (When do you need the money?)

NOCAL_YFAN

5/12/22 10:13am

Hard money lending.

blueaussie

5/12/22 10:17am

No risk there if you have the right equipment and appetite.

ebv

5/12/22 10:24am

Pretty true

Dan

5/12/22 11:28am

Sounds bad for my back

JuicyJam

5/12/22 10:23am

I will add: What if you want to offset tax liability for the current year?

RedBeard

5/12/22 10:39am

One time gift to your good friend Loafer.

Loafer

5/12/22 10:45am

Where does everyone keep coming up with these 500k wads of cash?

ochobeeguy

5/12/22 10:57am

RE: Where does everyone keep coming up with these 500k wads of cash?

ebv

5/12/22 11:03am

Inflation. Thought everyone had one these days.

RedBeard

5/12/22 2:03pm

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