Sweet! I've been gone for a few days and didn't know this. I won a few shares as well and have been pleased so far.

Umm, got 46 units in San Antonio that I'm thinking of getting out of. Anyone?? Anyone??? :D

And here's another Bitcoin disaster......




http://www.nbcnews.com/technology/te...ices-6C9743685

Get an agent and list it.

I'm posting this because some of you may find this info "handy" either now or in the future.



So I'll spare you the details except to say that I recently moved some of the bonds I have with another brokerage into one of my Schwab accounts. I set up a PAL (Pledged Asset Line) with them (Schwab) so that I can fund the purchase of the land and build a new house in Sun Valley.... without borrowing or getting a construction loan etc. It's an open line of credit with a check book but I'm using securities (stocks and bonds) for the line to borrow against. This is REALLY REALLY cheap money and I don't have to pay it back for like 5 years - and can pay interest only against the money drawn against the line. It's 2.28% money.... and I can borrow 70% of the asset base. It allows me to trade - or change positions - still withdraw the dividends etc. It's basically an invisible line drawn around a portion of this account which must maintain a certain value.

For guys like me -- this was super simple to set up -- one phone call... discuss the options... BAM! Done.

Normally I'm debt adverse... but for this instance - this is going to work out really well. I only need to draw against it as needed and this little house project will play out over a 2+ year timeframe. I don't have to deal with any bankers (I hate them)... I don't have to sell any houses or assets - so there's no pressure to raise cash at a certain time etc. I'm really just borrowing my own money -- all the while it's still earning money.

Ordinarily these "PAL" accounts carry a 3 month LIBOR (London Inner Bank Overnight Rate) PLUS 3%..... With my asset base which is FAR higher than the assets put into the PAL -- I squawked like a hungry crow and they finally agreed to 2% over LIBOR. The 3 month LIBOR is about .28 right now.

When the construction is nearly completed -- we'll put the Bellevue place up for sale and move to our condo in SV -- then we can be there for the finish work on the house and all the little details that go into that.... once we move -- we already have a buyer for the condo (friends that want it). Then we'll get permanent financing on the new dump.

So I forgot the reason for mentioning the movement of the bonds....


Now that the bonds are in my Schwab account --- I can see their performance and sort them etc. There's some 85 different names!

What I wanted to say in the above post --- and got off subject --- was what horrible investments these have been!! OMG!! The best performing bond is up 7% (face value) and most are up a whopping 2 or 3%!! Versus an AVERAGE of about 11% on the stocks.

Mind you - they are purchased for a completely different reasoning. They provide steady TAX FREE income of around 4% --- doesn't sound like much until you do the math --- and compare that against the dividend you must earn on a stock and pay tax on it. Dividends are now taxed at 20% so you have to take that into consideration if you're using the money now vs holding them in a ROTH or IRA/401K account.

Nope, not at all. is your middle name "ef hutton" ? lol

The funny thing is about most forums is everybody has a comment or wants to play armchair quarterback, not this one.

Lateral-g, imo, has class and intelligence. Look, learn & listen. Funny too, cause i talk way too much....

Mike

Greg,

I can't wait to see the shop plans for the new digs. :trophy-1302: Congrats!

Jody -- I don't want to side track this thread... but the plans for the new "shed" will have 5,000 plus square foot shop in the "basement" -- which will also suck up the 65' long toter and trailer. It's very cold in SV -- I want this stored inside -- and washed inside etc. The house sits on the hillside rising up to a ridge... and the cul d sac is 110' diameter... The lot is 1.6 acres at the top of that cul d sac.. and will allow us to split the driveway leading to the shop and then continuing on up to the house...Truck parking with a view! LOL