Kyle if you sold all your share holdings and put that money and any other savings against your debt how much of a dent would you make in it?

Trix - I think owning your home outright is the single biggest differentiator you can have. I would set aside an emergency fund of whatever makes you feel comfortable and then just blast that debt.

An online store is exactly what I was thinking. Shopify is your friend.

I'd have ~$62k in cash to put towards debt. One of my debts is going to be paid off by the end of May - my car, without dipping into any of that cash. Two years exactly, which was my goal when I bought it. I'll then have student loan debt which I just took out this year ($12.5k) and my condo. If I make what my goal is from the Zagg and Apple (margin) trades, I will be able to pay off the student loan by the end of the year, or sooner, as well. I've already paid off $9k of debt since Dec. 11', between credit card (car repairs, iPad) and my accelerated car payments (paying about $1000/month).

I love my Studies in Entrepreunership class that I've been taking this semester. We got into groups the first day of class and we've been working on researching our business plan, creating a feasility study, marketing, legal, initial startup funding, etc. It's been great. In addition every week we get to hear speeches from entrepreuners, such as the Vice President of HEB (biggest grocery chain in Texas), a CEO T3, one of the largest independent agencies in the country, the founder of La Quinta hotel chains, a CEO of a fairly large credit union in Texas, Ray Benson (Asleep at the Wheel), etc.

I'd love to start my own business, but I don't have any plans right now. I am working on my focus. Eating healthier, excerising, trying to get my brain fired up and working. Brook, what do you think of a company called "Indie Cute" or "indiecute", or some combination? The reason I ask is because I own indiecute.com and have for a couple of years. My ex-gf and I were thinking of creating an online storefront kind of like http://modcloth.com. She got a sewing machine and was learning that, and I of course like the business side, the website building, the funding, etc. But it never got off the ground. But I have renewed indiecute.com for years because it's cheap, and because I really like that name. It doesn't have to be specific to clothes. It could be weird/cutesy Japanese toys, etc. I even have a credit card for "Indie Cute" (which got me another 25,000 airline miles haha.) I know Sarah makes all kinds of cute weird dolls and pieces of art, and Sasha does some clothes and stuff I believe, and of course you do fashion design Brook. I'll get you all on board with indie cute!!

indie cute? haha yeah it's silly but it's a name that could work, as long as there is a way to advertise it. i'd get on board with that, as long as there are other designers and stuff. mostly i'm interested in reselling clothing i find at thrift stores and vintage stores. i'm pretty good at finding stuff at thrift stores, and when you're finding stuff for $3 and can resell it for $15 or so, that's a really good markup.

My wife and I are going to be putting in an offer on our first house soon.

I might take the first exam in the actuarial series this summer.   

I'd have ~$62k in cash to put towards debt. One of my debts is going to be paid off by the end of May - my car, without dipping into any of that cash. Two years exactly, which was my goal when I bought it. I'll then have student loan debt which I just took out this year ($12.5k) and my condo. If I make what my goal is from the Zagg and Apple (margin) trades, I will be able to pay off the student loan by the end of the year, or sooner, as well. I've already paid off $9k of debt since Dec. 11', between credit card (car repairs, iPad) and my accelerated car payments (paying about $1000/month).

If you have 60K I would pay off the high-interest condo debt right now. Just do it. The school debt also, it doesn't make sense to carry $12,500 of debt around. Then from may I would take that $1,000/mo you're putting on your car and start putting that on your condo. Am I reading this wrong or could you be mortgage free by year-end?

Tricky, yeah, indie cute! I actually put some time into that name when we were thinking up names. It's simple, easy to remember, descriptive but not too narrow (ie modcloth.com has "cloth" in it so it limits what you can use that name for), kinda silly but not kitsch, and kind of catchy.

Emp, that's exciting dude! Good luck.

Nick, I could get close to paying off m mortgage by the end of the year if: I used the $700 I am putting each month into my 401k, and  the $62k in stocks, savings and checking, all towards the mortgage I would be 90% paid off. But the student loan will still be there. Also I am at a great point in my brokerage account right now where I can start making bigger money more easily because of my amount in the market. For instance my available marginale balance was ~$55k before I bought shares in Millenial Media and Used 40k of that available margin for my new Apple shares. As I am holding these shares and they are increasing in value my available marginable balance is increasing even more. Right now My new margin able balance is 10k on top of the 40k outstanding. The more you have the more you can make. If I were to sell all my shares and dump all my stock money into my mortgage I would have to slowly and painfully build back up to nice amounts that allow me to borrow large chunks of money and make money on both my principal amounts and my borrowed funds. It would take quite a while to grow my account up again.

Edit: Anothr thing I am worried about is this lump in my breast area. If by My 11th there is no change from taking the anti-inflammatory, I will need to get a sonogram and maybe a biopsy and maybe even surgery to remove the offending thing. Depending what my insurance will cover, or could start getting pricey. So far, there has been no change in the lump.

We're putting in a fairly low bid, so I don't have my hopes that high.  I've been doing a lot of research to get a feel for how much wiggle room there generally is in the market right now.  It's a recent short sale/renovation flip attempt.

They paid $160,000, put in about $30,000 of work, then re-listed for $254,000.  We're offering $210,000 - our Realtor thinks it may appraise for somewhere in the low 200s, but certainly not as high as they're asking.  We'll see - we have a hard negotiating cap of $230,000 for what we'd be willing to spend on this particular house. 

How old is it and what's the Zillow on it?

Zestimate says $190,000, with a range from 181 - 258.  It sold for $238,000 just before the housing bubble collapsed, so $254,000 is just a pie-in-the sky number they threw at it.  Built in 1970.  $230,000 would put it in the upper half to third of price estimates for the general community.  $254,000 would make it the most expensive house in the community.

I only have one bit of advice, stay the fuck away from "Home Owner Associations" These are gestapo organizations that completely take the meaning out of "home owner". If you buy into an area controlled by one you will have no control over your own property.

>>254,000 is just a pie-in-the sky number they threw at it.<<

The house right next door to me I could have had for 45k way back in the day.

It sold during the bubble for $320,000. Needless to say lots of people have took baths in red ink on that property in recent years.

I haven't seen a property yet that didn't have a HOA.  Unfortunately, that seems to be a feature of the Baltimore/DC suburbs.

What are the HOA dues like in your area? I'm paying $140/month which is fairly low for my area of town and similar condo communities near me, but it feels like wasted money.

Kyle mate kill the debt - think of it as a free $6-7K per year in income. You'll build back up the equity margin game within months and be rocking and rolling. Plus when you're mortgage free you can start playing a really interesting game called "how much money do I need each year to live? Holy shit that's not much, bye-bye day job".

Emp, why not be the guy who buys a place for $70K under value? You wouldn't even have to spend time looking for it, just find a reno specialist and guarantee him the project if he finds a place which meets your criteria and price point. It could be the quickest $30K you ever make (save) and you'll know that you can sell it for at least what you paid.

I bought a place a month ago for $207K, sunk $10K into it and it's back on the market at $278K I''ll accept $265K. Reno work - someone else. Property finding - someone else.

My wife isn't really on-board with doing things that way.  She is on-board with prepaying principal, though, so we'll pay off whatever we buy early - especially if, as I hope, I can develop a couple of other revenue streams later this year.  We're also looking to buy at less than half of what the loan officer would approve us for, so we'll be comfortable even if we don't get the absolute best possible value in the market.

   

Wow. You guys are all yupped up with your stocks and your loans and your credit cards... I have zero debt, I own an old Jeep and a little trailer and some tools. I journeyman from job to job, I make enough for me and dog to not starve, I give away anything I don't need and in between jobs I exchange home repairs to my friends for a place to sleep. And I cook for them while I'm there. And if I need quick cash I scour thrift stores for valuable sportswear which I sell on eBayWith the minor inconvenience of getting ripped off by a crackhead on a semi-regular basis, I've not been happier since I quit chasing Asian strippers in 1992.

But good luck. When civilization crumbles I can at least eat my dog...

Zoomie = Jack Reacher

I'm pretty much the same but without the freedom and I have a small amount of debt. But I do get to live where I do, which makes it worth it most days. Today not being one of them.

Found the guy has a criminal record for business related stuff - definitely not going to continue negotiations.

I'm not worried about loans in the event of civilization crumbling - who's going to collect them then?

He's taller, has more scars, and is probably much better looking than I. But I like blues, hate Fundies, and pulling a knife on me will mostly guarantee that someone else will be pulling that knife out of you. So yeah, thanks. I am Jack Reacher.

You're also less annoyingly written. Go you!

But good luck. When civilization crumbles I can at least eat my dog...

The three of us would eat for weeks under that circumstance ...

This thread is a constant reminder to me how old you guys are. D:

How about you sidle over here and let this old fuck give you a nice pinch on the bum?

LOL

Way to never be creepy, Tru!

>>Way to never be creepy, Tru!<<
LOl I'm doing my best!

I think she gets it..

... at least she's finally over 18 now

Damn, man!
Hopefully it'll not totally tank on you ...

Shit, hopefully I'LL be ok as well ....