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get a mint app and track your expenses/make a budget.. very effective at making you aware how much you spend and where

@Havamal Always max out pre tax 401k because 1) it is the best return you can possible get (you aren't paying tax on that money). If you marginal tax bracket is 25% it is automatically a 25% return on the money you contribute. 2) usually companies will have an employer match feature - this is essentially free money

@Havamal Also, if you have a qualified high deductible health care plan, look into a HSA account. HSA are pre tax as well. A single person can contribute about 3.5k/yr(I believe). Some companies offer these plans to employees, some do not. These are essentially pre tax savings account you can put towards qualified medical expenses, perscriptions, etc.

@Havamal yes I believe so

dont do it.. i did it

P2P lending is greater as a BORROWER. you have a very competitive interest rate and it is unsecured debt which means if you have to default the lenders have no resource on your assets....

as a lender you have no recourse if the borrower defaults. you are also highly reliant on the underwriting risk metrics/model the company employs (i lent money through lending club)

to understand why lending club has incentive to fund as many loans as possible you first have to look at how they make their money... they do it primarily by originating loans and servicing loans. the bulk of their income is in the origination side.. servicing doesn't make them much money. they make money other ways but these are the primary ways

why is that bad?

because LC has incentive to originate as many loans as they can. they will manipulate their risk metrics to justify funding a loan at X% and Grade which implies a certain level of risk. the risk that comes along with these poorly underwritten loans do not justify the pay off

additionally, as a borrower you do not have a lot of information from the borrower so it can be tough to make an assessment yourself as to how risky the loan actually is. you are pretty much going off the grade of the loan and their historical credit information without really understanding what their current income/expense situation is like. additionally, borrowers may say they will use the money for X but they may actually use it towards Y

i also believe there is a lot of fraud going on.. ie: people taking out loans before they die or taking out loans without any intention of paying them back

i would have lost money but i employed a strategy where i would buy the original issue, mark up 2% on the secondary market and sell it off to people who live in states that didn't have access to the original issue.. that made up the bulk of my return. all the defaults i suffered would have made my return negative if i didnt trade notes

damn you did better than me

i went to far out on the risk spectrum.. B-C with some D+E

@John O - , i don't think that'll happen(i think they may be FDIC insured) but with that said if you feel uncomfortable i'd withdraw my money as i have been doing over the last ~2 years

on lending club? did you invest IRA money?

there is a transfer tab on the homepage.. you can withdraw money for free

i hear you.. you should be able to withdraw all of it for free

even if its IRA money you just have to transfer the money to another IRA account

odd i never had a fee in any transfer contribution or withdrawl

was the fee charged by lending club or your bank?

it may be because you did a wire rather than an ACH/electronic disbursement transfer

link your bank account and do a ACH transfer.. the fee should be $0

nah man i am right there with you.. i am gradually liquidating my investments in general

probably not going to go 100% cash but i am gradually pairing down my holdings and getting more defensive with what i do hold

dont buy now whatever you do

i work in RE and homes are well overvalued

especially in FL

"Bug in"?

@Deleted User take the job opportunity. good MBA programs value candidates with work experience.. work for a few years and see if you want to do an MBA program after that

your GMAT is good for 5 years after you take the test i believe

@Deleted User Check out biggerpockets.com... they have a lot of good books that are easy to understand

they also sell their books on amazon as well

Middletown, CT?

@Deleted User dividends from REITs are taxes at your marginal rate. The idea behind it is REITs are not taxed at the corporate level so all money distributed to you is taxed

@Deleted User it's important to keep in mind MBAs programs are about networking rather than getting good grades. MBA program don't really give out failing grades or really even C's

check out poets and quants for more info on b school

@Deleted User I haven't really looked into munis very much but I believe my discount broker (fidelity) allows for investors to buy the original issue as well as on the secondary market. may I ask what interests you in munis?

@John O - we should start a new channel aimed at RE investment. each member can have a title (ex: Acquisitions, Construction, Property Management, Sales and Marketing, etc.). With that said I am interested in buying property but we need to talk about (and agree to) a lot of things before we start throwing money at any particular asset. Also, as you know I think the market is frothy and we should sit on our hands until we get a recession of some sorts.

John, agreed 100%. Now is the time to build our war chest(cash) and figure out the details. Do you know how to start a new channel?

ok fuck it i am going to make a new channel and if it eventually dies it dies

and we can all discuss this stuff rather than hijacking this channel

i evacuated. my boss and the guy who owns by firm practically required all of us to do it

For anyone invested in IE related RE investments

^curious as to how much you need until you retire? Read the above article

what do you mean by get baited with cheese pizza?


oh i see

thats fucked up

i see i never got into the chans.. i guess thats a good thing

do you think there is any risk to us paying dues over paypal?

or even donations to altright.com or other orgs like that?

yeah i do the same

About a week ago I turned my ankle on a rock while hiking. The outer park of my foot banged into another rock. For the last week it has hurt to walk. The weird thing is there are no bruises or swelling. The pain is mostly local but occassionally I will have some shooting pain in my foot. Do anyone have any idea what's wrong?

@Deleted User thanks. I think I should have specified the pain is related to the outer part of my foot i banged on the rock rather than my ankle itself. Not sure if that changes your thoughts

@JRobertson we have set up a server related to RE investments that i invited you to

if anyone else is interested in joining a RE investments related website I will gladly invite you

@RevStench invite sent

sounds awesome.. i suppose you guys are familar with flipping houses as well?


yeah with flipping we would need to have a good idea of costs and plan accordingly

the other nice thing about flipping is we could do this:

- buy house all cash

- fix it up

- take out a mortgage on it

-rent it out

- take the proceeds from the refi and put that into the next house

I am looking to upgrade my processor on my 2011 macbook pro. currently i have 2.8 GHz Intel Core i7. 1) what would you reccomend I upgrade to? 2) is this something i can do on my own or should i take it to an apple store or w/e?


^if anyone is looking for good books on stock picking/analysis

benjamin graham is one of the most well respected authors in the space

@Deleted User my macbook works fine i just want to upgrade it so i can play vidya

so dont really want to spend the money on a new computer

ok i see

sucha soy boy

Anybody here use dirpy? I am trying to download a song and dirpy will only download the first 30 seconds or so. Not sure if I am doing something wrong or dirpy is defective


^get in touch with your inner chinaman with probably the best way to cook rice known to (white) man

were they really giving the roman salute


i guess thats all good in spain?

not enough of the choosen ones to get them all fired i suppose?

I think Jews without a doubt are out to destroy us, given our history in Europe and even here in the early 20th century - antisementism was quite common. Realistically speaking, with the exception of maybe the northeast asians, we are their only legitimate threat. With that said, Jews are certainly a subversive force BUT you can still make it in America and do quite well if you apply yourself. Jews have made it more of an uphill battle but it can still be done. You just have to keep your nose to the grindstone and keep at it

We also need to band together to give ourselves preference when it comes to hiring/firing/promotion decisions and when it relates to which businesses we will patronize.

Normie friend from HS on facebook


they should probably go back then

@Wotan Klan-GA I work in real estate. Curious what type of building it is? What is the immediate location like? How many stories? Acreage?

So I have been told if I donate old clothes to charity I can get a tax deduction based on the value of the clothes I have donated. Has anyone done that?

Cool I donโ€™t have many clothes I would give away. ~$500 value maybe. Would I be over the limit with that amount do you know?

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