Buying and Selling on eBay: Tips, Tricks, Problems & Questions

[SeaJen]

Just saying, but when money is as cheap as it has been, there are better options than paying off a mortgage, especially while mortgage tax relief exists.

 

[capnwes]

Damn Wes, reading that motivates me to strive for such a glorious achievement. Paying a 29 yr mortgage in 5 years its absolutely outstanding. Hard to fathom those monthly principle payments..

It's simple....regular monthly payment +$3K

 

[capnwes]

Just saying, but when money is as cheap as it has been, there are better options than paying off a mortgage, especially while mortgage tax relief exists.

No worries, I have plenty of other write offs, deductions and charitable contributions. I'd rather just not pay the mortgage every month.....especially the ******* interest. I will be saving nearly $240K worth of interest

 

[futuremyth]

I actually like packing items.

 

[capnwes]

TMI

 

[SpooPoker]



She also does all the measuring.

And the money.

Smart man...does she enjoy the process?

Not sure, but I do know she enjoys the roof over our heads.

 

[SeaJen]

It's a fantastic achievement, for sure, Wes, but my point is that with rates at <4% that 3k per month could be used to generate much greater than 4% returns, and thus would be a better use of extra cash than paying down your mortgage faster. A managed account with fidelity or vanguard could easily achieve 8% return.

 

[capnwes]

The $3000 is just the extra from ebay. I invest my entire real job paycheck.

 

[concealed]

It's a fantastic achievement, for sure, Wes, but my point is that with rates at <4% that 3k per month could be used to generate much greater than 4% returns, and thus would be a better use of extra cash than paying down your mortgage faster. A managed account with fidelity or vanguard could easily achieve 8% return.

Easily?

I agree with Mr. Seajen that pre-paying the mortgage at that rate is probably not the optimal use of funds, but a managed account is definitely not the investment advice I would give. ETFs are the thrifty investment choice.

Also, I would imagine Wes would do well as a landlord, given his home fixing skills and insane work ethic.

 

[Snoogz]

She also does all the measuring.

And the money.

Not sure, but I do know she enjoys the roof over our heads.

I would love to have my wife involved in the eBay selling experience, but its so hard with both our day jobs being such a demanding career and our daughter to look after. I hardly find hours to do the bare minimum.

Easily?

I agree with Mr. Seajen that pre-paying the mortgage at that rate is probably not the optimal use of funds, but a managed account is definitely not the investment advice I would give. ETFs are the thrifty investment choice.

Also, I would imagine Wes would do well as a landlord, given his home fixing skills and insane work ethic.

In Wes's defense, we don't know what his interest rate is on his house, given he could have purchased it during the 6-8% interest rate...in which I agree to pay off the house ASAP. On top of that, he does invest already in other areas, why not invest in land by owning it outright. Either way, all this talk about these achievements pushes me to get movin on what inventory I have sitting at home and get it up ASAP.

 

[SeaJen]

I wasn't suggesting it as advice, merely an example of investment returns that outstrip the cost of money. I thought about mentioning real estate too, but thought that would sound more like advice and since I don't know anything about the rental market in his region, it wouldn't be useful advice.

I would certainly hope that if Wes did have a 6% mortgage, he refi'd it, even if he does plan to pay it off in 4 years. Indeed, if that is the plan, why even have a 30yr mortgage at all?

I do want to say though, that the fact that this is even a discussion topic speaks to great achievement through hard work and dedication. What Spoo, Wes, Brian, and others here achieve is most certainly inspirational. Kudos, guys.

 

[capnwes]

I wasn't suggesting it as advise, merely an example of investment returns that outstrip the cost of money. I thought about mentioning real estate too, but thought that would sound more like advice and since I don't know anything about the rental market in his region, it wouldn't be useful advice.

I would certainly hope that if Wes did have a 6% mortgage, he refi'd it, even if he does plan to pay it off in 4 years. Indeed, if that is the plan, why even have a 30yr mortgage at all?

I do want to say though, that the fact that this is even a discussion topic speaks to great achievement through hard work and dedication. What Spoo, Wes, Brian, and others here achieve is most certainly inspirational. Kudos, guys.

We did refi....in January I think...maybe Feb. It was a bear to get it all put through and we had a lot of hurdles which were probably unnecessary. The big hold up was the bank we were taking our business away from. They put the breaks on everywhere they could. It took a nice letter to the BBB for them to finally start cooperating. We almost missed the lock on the rate after 2 extensions. Anyway, in the rush, we took the easiest option of 30 year term.

I pay all of my bills off as fast as possible to avoid interest, I absolutely abhor interest of any percentage. It became a problem in our mortgage refi when I paid off two of my student loans and another two smaller credit card balances. You'd have thought I robbed a bank or something. I had to jump through hoops to show the money was my money and that I paid it myself. All the time they would not consider my ebay sales as income. Even after I explained several times that it was claimed on my taxes and it paid more than my real job.

Financial people suck!

 

[othertravel]

Well said Wes. It's a great feeling being debt free.

 

[Brianpore]

44 items packed in a night, new record

 

[capnwes]

44 items packed in a night, new record

You just get home?