What's Your Plan?

[Whitefang]

2 hours ago, DanvillRob said:

 

.I'll get a fat paycheck for this year very soon, (as soon as the accountants reconcile the books).   So my company did and still does treat me very well.

Am I reading that wrong, or are you relating your company pays your pension on a yearly basis?  

Whitefang

[Mr. Gibson]

Vacation sounds wonderful. Whatever it is.

[ksdaddy]

2 minutes ago, Mr. Gibson said:

Vacation sounds wonderful. Whatever it is.

We're planning Nashville and Memphis in Oct. Sun is #1 priority. Top of the bucket list. Graceland, Ryman, Country Music Museum, Grand Ole Opry are all equally second. If I'm going to drop dead of a heart attack, let it be inside 706 Union Avenue.

 

[DanvillRob]

4 hours ago, Whitefang said:

Am I reading that wrong, or are you relating your company pays your pension on a yearly basis?  

Whitefang

Not a pension….my agreement with them is that they’ll pay me for 5 years after I retire.    This check will be my third….still two more to come.   I turned my 401k money over to Mass Mutual, and the pay me the RMD each month, and an additional $2500 goes toward a long-term care policy.    Coupled with my social security, I’m okay.  

[fortyearspickn]

Only thing 'planned' for today by the  Corporate Planner - is to go to JoAnn's Fabric store. Wife has made quilts for each of our 9 grandchildren.  #9 is 4 y/o, jealous of his sister's and wants his asap.    I'm struggling with a 'Fish or Cut Bait' problem with our 11 y/o only child granddaughter.  Been giving her music lessons (uke for 1 year - now guitar for a year)  and she is either very cooperative, or very uncooperative.    Son trying to give her an alternative to her computer.   So I'm between a rock and a hard place.  

[Whitefang]

56 minutes ago, fortyearspickn said:

Only thing 'planned' for today by the  Corporate Planner - is to go to JoAnn's Fabric store. Wife has made quilts for each of our 9 grandchildren.  #9 is 4 y/o, jealous of his sister's and wants his asap.    I'm struggling with a 'Fish or Cut Bait' problem with our 11 y/o only child granddaughter.  Been giving her music lessons (uke for 1 year - now guitar for a year)  and she is either very cooperative, or very uncooperative.    Son trying to give her an alternative to her computer.   So I'm between a rock and a hard place.  

I don't see how as it's your wife making the quilt, and your son looking for computer alternatives for his daughter.   All it seems you're doing is offering a good alternative.   AND providing a memorable bond with your granddaughter that she'll keep fondly remembering even long after you're gone.

Whitefang

[DanvillRob]

Wife is sick today.... I'll be doing my best "Cabana Boy" imitation.  

Working on "California Dreamin'".

Taking care of our son's dog..... they're selling their house (they outgrew it) and are living with DIL's parents, who are not a fan of

dogs until it sells and they get a new place.   She's actually no problem.... our dog loves the company.

Other than that.... not too much going on over here.

[SteveFord]

The plan is to ride more.

[Murph]

Plumbing.

This is a plan?

Real estate is my nemesis. 

I'll never be done, so there's no fear of catching up.

[DanvillRob]

1 hour ago, Murph said:

Plumbing.

This is a plan?

Real estate is my nemesis. 

I'll never be done, so there's no fear of catching up.

We used to own several income properties, only one of which had an on-site manager, (because it was 19 units).

It was uncanny how all the catastrophic failures ALWAYS occurred on a Saturday night or Sunday when NO REPAIR people were available!

 

[Whitefang]

1 hour ago, DanvillRob said:

We used to own several income properties, only one of which had an on-site manager, (because it was 19 units).

It was uncanny how all the catastrophic failures ALWAYS occurred on a Saturday night or Sunday when NO REPAIR people were available!

 

So, being a slumlord really isn't much different than being the average homeowner, right?  

Whitefang

[DanvillRob]

13 minutes ago, Whitefang said:

So, being a slumlord really isn't much different than being the average homeowner, right?  

Whitefang

Yeah....just multiply it by 55!

[Whitefang]

I was more or less referring to the availability of repair people when needed.  The same kind of theory applies to car repair/ If you're the kind who is good at doing your own car repair but have no heated garage(or garage at all)  it's a cinch your car will need a repair that requires you to crawl under it sometime in the middle of winter.  But only in places that have harsh, snowy winters. 

Whitefang

[Murph]

I'm smoking 2 chickens on the Traeger today for Easter dinner.

The wife is doing potato salad.

[Murph]

On 4/5/2023 at 8:37 AM, DanvillRob said:

We used to own several income properties, only one of which had an on-site manager, (because it was 19 units).

It was uncanny how all the catastrophic failures ALWAYS occurred on a Saturday night or Sunday when NO REPAIR people were available!

 

I know a wealthy guy here who has many rentals. He's at least my age, maybe older.

He's forever out fixing stuff himself.

Maybe I'm smarter than I think?

[fortyearspickn]

If you have rentals, your tenants will want things that break fixed ASAP. So I’m guessing you need a “handyman” on call or retainer!  Or you’ll be the one going out. Some people don’t even know how to reset a breaker.    Son has a few like that.  Also has some who got Covid $ from the gubmint to help them pay their rent, and bought cars Instead.  Takes months to evict them.  You show up in court and they don’t.   Some bad ones, when finally evicted, trash the place the night they leave.    Not a business for the feint of heart.  
 

[saturn]

Today I will be at Camden Yards watching the Orioles play the Yankees.

[Whitefang]

Or the faint of heart either.  

I worked with a guy who bought HUD homes cheaply, fixed them up and rented them out.  Never had a problem except once.

One house he fixed up by putting in new windows, kitchen cabinets, sink, disposal, dishwasher, stove and fridge.  Even a new toilet and redid the funky looking woodwork and also installed new steel entry doors, front and side.  Rented it to a doctor and nurse the guy who ran back checks for him said were OK.  And for six months things were going OK.  If they didn't pay the rent on time they were early.  But after about a year they missed a rent payment.  after trying to get ahold of them for three months without success he decided to pay them a visit.  When he got there(it was nigh time) the house was dark.  So he thought he'd leave a note on the door and when he went up the porch to leave the note discovered the door was gone!  Storm door too.  Entering the house fount the lights wouldn't work because the light switches had been removed.  So was the side door and storm.  And the new fridge, stove, kitchen cabinets, sink, disposal, dishwasher, toilet.  And all those new windows.  Oh, and I failed to mention he also put in a new furnace that was also gone.  Even the new woodwork was torn out.  After going over everything with the police and asking some of the neighbors why they didn't notice anything and was told, "We thought you was fixin' the place up again!"

When he got home he called the hospital the doctor and his wife were supposed to be working at and they never heard of them.  And when calling the service where his man who did his background checks worked they told him the man hadn't showed up at the office for a month or more.  Apparently, all three were in on all that. 

I'LL never be a landlord.

Whitefang

Edited April 9, 2023 by Whitefang

[DanvillRob]

14 hours ago, Murph said:

I know a wealthy guy here who has many rentals. He's at least my age, maybe older.

He's forever out fixing stuff himself.

Maybe I'm smarter than I think?

I got rid of all my properties for just that reason!

[Murph]

9 hours ago, DanvillRob said:

I got rid of all my properties for just that reason!

Wise man.

This isn't actually a rental, or even my property.

My wife found it and my daughter bought it. It's quite distressed but has potential and was a bargain. The plan is the daughter will be debt free with a "paid for" home at age 23 and can build wealth ala "Dave Ramsey" without paying rent.

It's an honorable venture, albeit hard on this old man....

 

[DanvillRob]

36 minutes ago, Murph said:

Wise man.

This isn't actually a rental, or even my property.

My wife found it and my daughter bought it. It's quite distressed but has potential and was a bargain. The plan is the daughter will be debt free with a "paid for" home at age 23 and can build wealth ala "Dave Ramsey" without paying rent.

It's an honorable venture, albeit hard on this old man....

 

Now THAT'S a smart thing to do!

Just a bummer that dad has to be the handyman.

[sparquelito]

Since retiring on 30 December, I have been steadily and slowly repainting the interior of the house.
One or two walls or sections at a time.
Carefully, patiently.
No mess, no disorder, no rush.
It's like a Zen thing.
Meditation accomplishment therapy.

What is not Zen-like (more like karma I guess) is that now that I am on a fixed income, the following appliances or major end items have crapped out and had to be replaced:
clothes washer, clothes dryer, oven/range/stove beast, microwave oven, car battery, overhead garage door spring, and three double paned storm windows.

The dishwasher ate the main pump, but that was under warranty.
(Note: Warranty repairs can take up to five weeks to schedule, order parts, reschedule, and finally get the thing repaired.)

Hopefully things settle down a bit.
🙁

 

[Murph]

1 hour ago, sparquelito said:

What is not Zen-like (more like karma I guess) is that now that I am on a fixed income, the following appliances or major end items have crapped out and had to be replaced:
clothes washer, clothes dryer, oven/range/stove beast, microwave oven, car battery, overhead garage door spring, and three double paned storm windows.

This is my fear right now, is being spread so thin.

I have so many projects going on, a surprise would be a scary thing, and I get one every single day.....

[DanvillRob]

2 hours ago, sparquelito said:

Since retiring on 30 December, I have been steadily and slowly repainting the interior of the house.
One or two walls or sections at a time.
Carefully, patiently.
No mess, no disorder, no rush.
It's like a Zen thing.
Meditation accomplishment therapy.

What is not Zen-like (more like karma I guess) is that now that I am on a fixed income, the following appliances or major end items have crapped out and had to be replaced:
clothes washer, clothes dryer, oven/range/stove beast, microwave oven, car battery, overhead garage door spring, and three double paned storm windows.

The dishwasher ate the main pump, but that was under warranty.
(Note: Warranty repairs can take up to five weeks to schedule, order parts, reschedule, and finally get the thing repaired.)

Hopefully things settle down a bit.
🙁

 

I've been retired for about 2-1/2 years.   I've done almost all the "big" projects around here.... stuff I always said I'd get to when I had time....well....now I have time!

[Whitefang]

1 hour ago, DanvillRob said:

I've been retired for about 2-1/2 years.   I've done almost all the "big" projects around here.... stuff I always said I'd get to when I had time....well....now I have time!

That's OK if you have the skill, health and energy.

But for those of us that don't,  and were lucky enough to not have or be able to resist GAS attacks,  might have revenue enough saved to get as much of them done professionally as possible.

I've been enjoying the conversion from having a bathtub to just now having that space as a shower stall.  I would have never been able to do that much and kind of work myself.  

Whitefang