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Topic: How do you think the US economy is doing right now?

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utee94

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Re: How do you think the US economy is doing right now?
« Reply #266 on: August 05, 2024, 11:07:13 AM »
Best decision we ever made was to keep our starter house and use it as a rental, when we bought our new house, 12 years ago.

I'll be honest we were stretched very thin for a few years and really could have used cash from the sale to cover the new house, but we scrapped through it, and now 12 years later it's not even a thing. 

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medinabuckeye1

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Re: How do you think the US economy is doing right now?
« Reply #267 on: August 05, 2024, 11:09:02 AM »
Quote from: utee94 on August 05, 2024, 11:07:13 AM
Best decision we ever made was to keep out starter house and use it as a rental, when we bought our new house, 12 years ago.

I'll be honest we were stretched thin for a few years and really could have used cash from the sale to cover the new house, but we scrapped through it, and now 12 years later it's not even a thing. 
It is a pretty solid decision without inflation. Inflation makes it ingenious. 
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847badgerfan

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Re: How do you think the US economy is doing right now?
« Reply #268 on: August 05, 2024, 11:14:06 AM »
I don't want the landlord headaches at this point in my life.
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medinabuckeye1

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Re: How do you think the US economy is doing right now?
« Reply #269 on: August 05, 2024, 11:22:41 AM »
Quote from: 847badgerfan on August 05, 2024, 11:14:06 AM
I don't want the landlord headaches at this point in my life.
I can understand that. I started my comment on it by saying that some days I wouldn't wish my headaches on anyone. 
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utee94

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Re: How do you think the US economy is doing right now?
« Reply #270 on: August 05, 2024, 11:28:01 AM »
I'm lucky enough that after we partnered up with my FIL on some other properties, he now manages all of them.  The first few years of managing our own rental though, weren't a lot of fun, no doubt.

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medinabuckeye1

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Re: How do you think the US economy is doing right now?
« Reply #271 on: August 05, 2024, 11:40:27 AM »
Quote from: utee94 on August 05, 2024, 11:28:01 AM
I'm lucky enough that after we partnered up with my FIL on some other properties, he now manages all of them.  The first few years of managing our own rental though, weren't a lot of fun, no doubt.
The strange thing about the rental business is that the business/profitability ratio are inverted.  

In most businesses the busier you are the more money you are making.  In the rental business when I'm busy I'm losing money.  When I'm not busy, I'm making money.  

This month I'm losing money and busier than a one-legged man in an ass-kicking contest.  
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utee94

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Re: How do you think the US economy is doing right now?
« Reply #272 on: August 05, 2024, 12:39:53 PM »
Quote from: medinabuckeye1 on August 05, 2024, 11:40:27 AM
The strange thing about the rental business is that the business/profitability ratio are inverted. 

In most businesses the busier you are the more money you are making.  In the rental business when I'm busy I'm losing money.  When I'm not busy, I'm making money. 

This month I'm losing money and busier than a one-legged man in an ass-kicking contest. 
So true.

"Passive" income isn't passive when you're busting your tail for it.
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847badgerfan

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Re: How do you think the US economy is doing right now?
« Reply #273 on: August 05, 2024, 12:53:13 PM »
The Fed is trying to 'fight a ghost' as recession fears mount, investor says (msn.com)
The Fed is trying to 'fight a ghost' as recession fears mount, investor says (msn.com)
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utee94

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Re: How do you think the US economy is doing right now?
« Reply #274 on: August 05, 2024, 12:56:16 PM »
Quote from: 847badgerfan on August 05, 2024, 12:53:13 PM
The Fed is trying to 'fight a ghost' as recession fears mount, investor says (msn.com)
The Fed is trying to 'fight a ghost' as recession fears mount, investor says (msn.com)
I think it's dangerous to think of this as a "ghost."  The implication is that it's irrational, that there's actually no basis for an expectation of recession, but that's just not true at all.
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847badgerfan

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Re: How do you think the US economy is doing right now?
« Reply #275 on: August 05, 2024, 12:57:40 PM »
https://www.wsj.com/finance/stocks/is-this-1987-all-over-again-whats-driving-the-market-meltdown-4d107126?st=um5cr5paypsmue9&reflink=desktopwebshare_permalink
https://www.wsj.com/finance/stocks/is-this-1987-all-over-again-whats-driving-the-market-meltdown-4d107126?st=um5cr5paypsmue9&reflink=desktopwebshare_permalink
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Gigem

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Re: How do you think the US economy is doing right now?
« Reply #276 on: August 05, 2024, 01:11:22 PM »
We own and manage some rentals.  So true about being busy.  I just had a tenant move out after ~5 years.  House completely trashed, needs major work.  Probably 15k for repairs and a trash-out.  
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Cincydawg

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Re: How do you think the US economy is doing right now?
« Reply #277 on: August 05, 2024, 01:12:48 PM »
I finally was able to log in to my account, man that was ugly, not lilke getting laid off ugly, but ugly.

I never bought any of this VIX thing, I never did find a useful explanation of it.

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Riffraft

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Re: How do you think the US economy is doing right now?
« Reply #278 on: August 05, 2024, 01:18:13 PM »
Quote from: 847badgerfan on August 05, 2024, 11:14:06 AM
I don't want the landlord headaches at this point in my life.
Hire a management company which a ceiling for spending on the unit and let them handle the regular headaches.  Worth the relatively low cost. 
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847badgerfan

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Re: How do you think the US economy is doing right now?
« Reply #279 on: August 05, 2024, 01:52:00 PM »
'Don't panic': What to do when the stock market sinks like a stone (msn.com)
'Don't panic': What to do when the stock market sinks like a stone (msn.com)
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