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Sunday, September 25, 2005

Philadelphia Investment Update #5

I've locked in my mortgage at 5.75% for 116K with Country Wide. I'm currently shopping for a home insurance and have to get that ready by the closing date. The closing date is now confirmed on 10/3/05. The good news is that the seller is going to rent my apartment for the month of October and my agent got $900 for the rent.

Tuesday, September 20, 2005

Philadelphia Investment Update #4

I'm trying to close the house on the 29th of this month so I've been very busy today. I've been making phone calls to mortgage companies the whole morning and I just found out that I have to get my home insurance ready before closing. So, I had to make a couple more phone calls to get quotes. I've been on the phone so often lately I can feel the shadows of the phone even when I'm not physically on it. My left ear hurts and I'm starting to get neck pain from holding the phone with my head. Buying a house is really hands on. It is a lot of work, but investing in real estates is something I want to learn. Hopefully, all the time spent will be worth it.

Philadelphia Investment Update #3

My agent called a few days ago and told me that my house is ready for settlement at any date now. The seller has found a new house so I can do the closing at the end of this month. However, the interest rate has been creeping up lately. I was quoted a 30-year fixed mortgage loan for 6.0% yesterday, compared to 5.75% two weeks ago. The difference in interest payments over 30 years is $7,000 between 5.75% and 6.0% I can postpone my closing to the middle of October if I believe the rates will drop in the near future. It's a dilemma for me now. Should I take the risk and wait until next week or should I lock in now? There's an advantage of locking in now. My seller is going to rent my house for a month (He's moving to his new house in November). The perk is immediate cash flow. However, if the rates are going to drop back to 5.75% zone then I might give up that month's rent.

I'm hesitant to take the risk though. What if the interest rates continue to go up, to 6.25%? Then I will pay more interest plus losing a potential month's of rent. I'm leaning towards earning one month's of rent plus playing it safe on the interest rate.

Monday, September 12, 2005

Word Verification

Okay, the word verification is getting a little annoying. Why should I have to verify the words if I'm logged in myself. I think Blogger has to be a bit smarter. If the owner is logged in, there's no need for word verification. Other than that, the word verification works great. I don't get any comment spams now. I have an idea, perhaps in the future, we can have a safe list. I can add all the regular readers to a list where they wouldn't need to be word verified. But that may be too much work for Blogger.com and myself, so scratch it.

Friday, September 09, 2005

Second Job

I now have a second job on top of my current full-time position. My friend referred me to his company, a start-up financial firm and I had an interview with his bosses two weeks ago. I basically told them about my interest in finance and how I've been reading financial/business magazines and they seem to really like my interview, plus I have a technology background and experience. I just started working today after I got off my full-time job. I'm doing market research and gathering information about companies. I can't talk too much about it, because a lot of the information is confidential. The work seems to be interesting and the things I do are financial related, which is the field I wanted to get into. I have so many things going on right now. I have a full-time job during the day, a part-time job at night/weekends, and a real estate investment property in the works. Plus, I have to take out time to help out my dad with his business, and he's in the middle of a big project. I still have to keep an eye on my stocks, catch up on my magazines, and among a dozen other things in my personal life. My part-time job can potentially become full-time. If that succeeds, then I wouldn't have to juggle between two companies. However, that is still up in the air. There are a lot of possibilities. We'll see how it goes. It looks like I will be working long hours and sacrificing night and weekends. I hope this all this work and investment will do me well over time.

Wednesday, September 07, 2005

Magazines Giveaway #2

  • Smart Money 2004
  • BusinessWeek (various dates)
Leave me a comment if you are going to read them. I'll ship them to you free of charge, courtesy of Growing Money blog.

Tuesday, September 06, 2005

Philadelphia Investment Update #2

I just liquidated $6,000 of my stocks and will transfer that money over to my checking account. I was able to sell my stocks at the high of today, which is good, but the price is still lower than what I really wanted to sell at. In any case, I need the cash now for my second deposit of $15,000. I'll make a check out to my real estate agent tomorrow.

Monday, September 05, 2005

Books for Donation

I have some books I want to donate: MacroMedia FLASH 5 for Windows and Mac (2001) ISBN 0201716143 Condition: Acceptable Java Gently 2nd Edition Programming Principles Explained ISBN 0201342979 Condition: Good Internet Performance Survival Guide QoS Strategies for Multiservice Networks ISBN 0471378089 Condition: Unread The receiver will have to pay for shipping charges. If you're unable to pay for shipping charges, leave me a comment and your email address, and we may be able to work something out. If you're in the NYC downtown area, you can schedule a pick up with me.

Magazines Giveaway

I have too many magazines at home. I need to donate some out. They contain a lot of valuable financial information. I hope someone can make use of them. Kiplinger's Personal Finance 2004 (about 7 issues) Leave me a comment if you are going to read them. I'll ship them to you free of charge, courtesy of Growing Money blog.

Friday, September 02, 2005

Philadelphia Investment Update #1

I freed up my $5,000 of CD ladder in my INGDIRECT account and I'm going to use that for part of down payment. I did get hit with an early withdrawal fee. I lost about $58 in interest. It's not a lot since I opened the CDs in the beginning of this year, so it's not that big of a hit. I'm still looking at the market and considering the best time to sell off some of my stocks. I still need to free up about 6K in about two days.

Thursday, September 01, 2005

Word Verification Feature

I've turned on the word verification feature in the comments section because of the high volume of comment spams. Sorry for the inconvience, but this will leave a cleaner blog, so don't let the word verification stop you from leaving a comment.