WizeGuy Posted July 13, 2020 Share Posted July 13, 2020 I signed up for a vaccine trial at my hospital. They're going to test for an immune response. I haven't been selected yet, so it's not a guarantee I'll even get it. I'm honestly around so many vulnerable people where I work that I want so bad to build some immunity from this virus. Any questions I should ask before accepting? It's at the University of Rochester, which has a very reputable research program. 5 Link to comment Share on other sites More sharing options...
MWil23 Posted July 13, 2020 Share Posted July 13, 2020 (edited) 11 hours ago, theJ said: I'm several pages late so this may have already been said: this is a tricky situation. Most landlords have mortgages on their properties, and most are leveraged so much they depend on the income of the properties to pay those mortgages. So not only are the renters in trouble, but so are the landlords. It's not necessarily greed. They might be trying to avoid a foreclosure of their own. This is something I try to point out to people when they get into the rental property business. If you plan on leveraging then your financial well being is very tightly correlated to the renters you have. And you can't control them. If you own the property outright, that pressure is off. But that's a different topic. To add to this, it’s become popular to take out a HELOC, use that for a down payment to buy a house, rent out that house, use the rent money to pay off that mortgage/pocket the remainder, then open up a 2nd HELOC, use that to buy another house, rent that third one out, and continue this cycle. I know someone who has done this with TEN HOUSES. The bottom can drop off quickly in the middle of this...the only real comparison I can give is in the 1920s when people were buying on margin and brokers and banks were foreclosing on people to pay off these massive and insurmountable debts. Crazy! Edited July 13, 2020 by MWil23 2 Link to comment Share on other sites More sharing options...
bucsfan333 Posted July 13, 2020 Share Posted July 13, 2020 44 minutes ago, Glen said: Unlike Jameis Jameis is ripped now. He went to the pro bowl his rookie year and realized he was the only chubby QB there. So he fixed it. 1 Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted July 13, 2020 Share Posted July 13, 2020 7 minutes ago, WizeGuy said: I signed up for a vaccine trial at my hospital. They're going to test for an immune response. I haven't been selected yet, so it's not a guarantee I'll even get it. I'm honestly around so many vulnerable people where I work that I want so bad to build some immunity from this virus. Any questions I should ask before accepting? It's at the University of Rochester, which has a very reputable research program. Just answer their screening questions 100% honestly, and you should be all set. Link to comment Share on other sites More sharing options...
MWil23 Posted July 13, 2020 Share Posted July 13, 2020 (edited) Not to derail this, but I’m concerned about the Monopoly money situation we could be in with inflation/debt as a country. If we get another round of stimulus, I’m going to do my part and spend it immediately, because: 1. That’s the entire point of stimulus money 2. I’m concerned about the future inflation devaluation of currency, and IMO am better off spending it on projects around my house/supporting small businesses for the long game/investment in my home I don’t fault anyone for saving the money and they’re free to do whatever they want with it, but the entire point of stimulus money is to stimulate the economy...but when many can’t pay their bills, what do people expect? Edited July 13, 2020 by MWil23 2 Link to comment Share on other sites More sharing options...
squire12 Posted July 13, 2020 Share Posted July 13, 2020 9 hours ago, naptownskinsfan said: Yeah the $1200 was a joke, especially when you look at Canada paying $2000 a month. Costco even had the cajones to put out a TV at exactly $1200, not exactly hiding what they were expecting. Seems like Costco expected people ...... some with limited fiscal resources.....to make non-essential item purchase with the "stimulus" money. 9 hours ago, naptownskinsfan said: I'm lucky enough to be able to pay my bills. I worked full time after high school, worked my way up, invested my money and lived at home. I have a lot of employees who applied for my boss's own assistance plan, which went beyond the store, as well as his pay package which included paying people who weren't working. The pay period before I returned was the first one for this, and he paid me 2/3's of my salary. Even kids who weren't working because their parents told them no got something. So I can imagine the situations that many other people are in. Sadly, rent is a bit different from mortgage. At least with a mortgage, there is a set end date with your ownership, and payments can just be moved back and extended. There is an out date for rent and it can't just be waved away. Landlords also have a tax bill that will be due, that is funding for municipalities for basic services...garbage, police, fire, etc 6 Link to comment Share on other sites More sharing options...
theJ Posted July 13, 2020 Share Posted July 13, 2020 17 minutes ago, MWil23 said: Not to derail this, but I’m concerned about the Monopoly money situation we could be in with inflation/debt as a country. If we get another round of stimulus, I’m going to do my part and spend it immediately, because: 1. That’s the entire point of stimulus money 2. I’m concerned about the future inflation devaluation of currency, and IMO am better off spending it on projects around my house/supporting small businesses for the long game/investment in my home I don’t fault anyone for saving the money and they’re free to do whatever they want with it, but the entire point of stimulus money is to stimulate the economy...but when many can’t pay their bills, what do people expect? Inflation is an interesting and complex subject. I'm sure the Fed is watching it like a hawk. Ultimately i'm not going to worry about it, because if it does turn out to happen, the $1000 you spend on a "thing" won't really matter because you'll be doing everything you can just to buy bread. There's really nothing you can do ahead of time to prepare yourself for it other than to plant a giant sustainable garden and learn how to hunt. Link to comment Share on other sites More sharing options...
MWil23 Posted July 13, 2020 Share Posted July 13, 2020 2 minutes ago, theJ said: Inflation is an interesting and complex subject. I'm sure the Fed is watching it like a hawk. Ultimately i'm not going to worry about it, because if it does turn out to happen, the $1000 you spend on a "thing" won't really matter because you'll be doing everything you can just to buy bread. There's really nothing you can do ahead of time to prepare yourself for it other than to plant a giant sustainable garden and learn how to hunt. I guess that’s what I’m saying. I’m going to use it on things like a patio/finishing my basement instead of just putting it into savings (easy for me to say since I’m at 6 months salary for emergencies). I’ve got 2 acres, so a garden is definitely happening next year regardless. I’m basically Ron Swanson more than most regardless...so this hasn’t exactly helped sway me. 1 Link to comment Share on other sites More sharing options...
Daniel Posted July 13, 2020 Share Posted July 13, 2020 2 hours ago, theJ said: I sure hope you're right. It's just that it didn't play out that way last time we had a housing issue. Of course the circumstances were different. I could be wrong too, but this situation is so much more extreme, and since the last housing crisis dragged the economy down so much, I don't think they could handle what doing the same would do to the economy and the homeless population. I'm not saying that they actually adequately fix the situation, but I am confident that they'll have some kind of solution other than leaving renters out to dry. Link to comment Share on other sites More sharing options...
ramssuperbowl99 Posted July 13, 2020 Share Posted July 13, 2020 (edited) 12 hours ago, theJ said: I'm several pages late so this may have already been said: this is a tricky situation. Most landlords have mortgages on their properties, and most are leveraged so much they depend on the income of the properties to pay those mortgages. So not only are the renters in trouble, but so are the landlords. It's not necessarily greed. They might be trying to avoid a foreclosure of their own. This is something I try to point out to people when they get into the rental property business. If you plan on leveraging then your financial well being is very tightly correlated to the renters you have. And you can't control them. If you own the property outright, that pressure is off. But that's a different topic. The entire economic fallout of this has convinced me that not being a landlord is the right decision for basically everyone. No sense in dealing with the stress of being that leveraged when the S&P 500 is near an all time high. Edited July 13, 2020 by ramssuperbowl99 2 Link to comment Share on other sites More sharing options...
ET80 Posted July 13, 2020 Share Posted July 13, 2020 1 hour ago, MWil23 said: 1 hour ago, theJ said: Inflation is an interesting and complex subject. I'm sure the Fed is watching it like a hawk. Ultimately i'm not going to worry about it, because if it does turn out to happen, the $1000 you spend on a "thing" won't really matter because you'll be doing everything you can just to buy bread. There's really nothing you can do ahead of time to prepare yourself for it other than to plant a giant sustainable garden and learn how to hunt. I guess that’s what I’m saying. I’m going to use it on things like a patio/finishing my basement instead of just putting it into savings (easy for me to say since I’m at 6 months salary for emergencies). I’ve got 2 acres, so a garden is definitely happening next year regardless. I’m basically Ron Swanson more than most regardless...so this hasn’t exactly helped sway me I'm buying a deep freezer for the garage, and using the rest to buy meats. Stimulating the economy, stocking up on steaks and chops - that's a win for me! Probably going to buy another gun, too. Wife wants one she could feel comfortable with. 1 Link to comment Share on other sites More sharing options...
theJ Posted July 13, 2020 Share Posted July 13, 2020 8 minutes ago, ET80 said: I'm buying a deep freezer for the garage, and using the rest to buy meats. Stimulating the economy, stocking up on steaks and chops - that's a win for me! Probably going to buy another gun, too. Wife wants one she could feel comfortable with. Good luck keeping that meat cold when electricity is $100/kwh, sucker. Link to comment Share on other sites More sharing options...
ET80 Posted July 13, 2020 Share Posted July 13, 2020 Just now, theJ said: Good luck keeping that meat cold when electricity is $100/kwh, sucker. The day we get to $100/kwh, I'm going to recruit a band of pirates to raid my neighborhood... 1 Link to comment Share on other sites More sharing options...
theJ Posted July 13, 2020 Share Posted July 13, 2020 19 minutes ago, ramssuperbowl99 said: The entire economic fallout of this has convinced me that not being a landlord is the right decision for basically everyone. No sense in dealing with the stress of being that leveraged when the S&P 500 is near an all time high. I've been convinced for a long time that A) i never want to stake a significant portion of my net worth on rental real estate and B) that if i ever do own rentals i'm going to own them outright. No mortgages. I just don't like the risk. I do want to own some rental real estate in the future. It's a good way to keep get some cash flow, especially in retirement. 1 Link to comment Share on other sites More sharing options...
MacReady Posted July 13, 2020 Share Posted July 13, 2020 Just now, theJ said: Good luck keeping that meat cold when electricity is $100/kwh, sucker. I'll just buy a solar generator and then buy a normal-priced freezer and be a little less stupid than ET. 2 Link to comment Share on other sites More sharing options...
Recommended Posts