f-cking banks

[gardenweasel]

just found out one of the banks i have a decent amount of money in went under......and the juicy c.d. rates are probably gone as of friday(had them locked in through late 2012 at around 5%)......

f-ck!....now ,what to do with that money?....

 

[1%er]

just found out one of the banks i have a decent amount of money in went under......and the juicy c.d. rates are probably gone as of friday(had them locked in through late 2012 at around 5%)......

f-ck!....now ,what to do with that money?....

and

Best Rates of returns!!!

:toast:

 

[DOGS THAT BARK]

You might consider a Maryland tax free bond fund GW. Below is one that looks decent.
No taxes (state or federal) on earnings.

Does not come without minimal risk--has had one down year as you'll note in last 10 years but has ave 5.3% for 10 years.

If in CA or NY I would avoid due to states finances in general.

http://finance.yahoo.com/q/pm?s=MDXBX+Performance

I went this route last year with all of my and wifes savings in CDs. Only capital gains tax in equation now is on checking accounts.

Put in in Ky tax free bond fund
http://finance.yahoo.com/q?s=KYTFX

Has return 5.66 year to date.

If you look consider this route buy a no-load like above. If you go through brokers they will sell you loaded funds (some as high as 4%) that eat up all your earnings.

another perk is you do not have to lock your money up for any time period. Put it in or take it out any time you want.

 

[gardenweasel]

You might consider a Maryland tax free bond fund GW. Below is one that looks decent.
No taxes (state or federal) on earnings.

Does not come without minimal risk--has had one down year as you'll note in last 10 years but has ave 5.3% for 10 years.

If in CA or NY I would avoid due to states finances in general.

http://finance.yahoo.com/q/pm?s=MDXBX+Performance

I went this route last year with all of my and wifes savings in CDs. Only capital gains tax in equation now is on checking accounts.

Put in in Ky tax free bond fund
http://finance.yahoo.com/q?s=KYTFX

Has return 5.66 year to date.

If you look consider this route buy a no-load like above. If you go through brokers they will sell you loaded funds (some as high as 4%) that eat up all your earnings.

another perk is you do not have to lock your money up for any time period. Put it in or take it out any time you want.

i don`t like gambling with real money,dtb......but that looks interesting....maybe look into puuting a percentage into a bond fund...

i have some savings bonds i took out years ago that came due and i read that they can charge you a penalty on interest accrued on regular savings bonds that mature(if you don`t declare the interest in the year they mature)...

it`s only been a matter of months,but,it galls me that i can`t just leave them alone even though they aren`t earning anything...i have to f-ck with tax issues even before i cash them out........

this shit is out of hand...

 

[skulldog]

GW, Depending upon where u live, become the bank. I have money people making 12-15% returns in 6 months with 2-4 points upfront. Money secured by first mortage.

Small rehab investors have been crushed by the banks and cannot get $$. I just lent a contractor 30K with a 60K return. He needed to buy out one of Pain in the Ass partners so it was worth it for him. Secured by a first mortgage.

Principle has been paid back as well a 1 payment in CASH.:toast:

I was just involed in a deal where an attorney lent a contractor 150K with 13K interest, 6 month deal.

I'm sure opportunities exist in your market as well.

GL

 

[gardenweasel]

GW, Depending upon where u live, become the bank. I have money people making 12-15% returns in 6 months with 2-4 points upfront. Money secured by first mortage.

Small rehab investors have been crushed by the banks and cannot get $$. I just lent a contractor 30K with a 60K return. He needed to buy out one of Pain in the Ass partners so it was worth it for him. Secured by a first mortgage.

Principle has been paid back as well a 1 payment in CASH.:toast:

I was just involed in a deal where an attorney lent a contractor 150K with 13K interest, 6 month deal.

I'm sure opportunities exist in your market as well.

GL

what do you mean secured by a "first mortgage"?..

how can you guarantee something like this,s.d?......what`s your protection?....people are defaulting on all kinds of loans right and left....nobody gives a shit about defaulting...:shrug:

i stopped by the bank today on my way home to withdraw our money....very sad...people we`d dealt with for 20 years being shitcanned with no guarantees...i realized that even though it was costing me money,some good folks asses are literally in a sling...

then i stop in the grocery store,i`m standing in line and some fat cow is apparently trying to squeeze into a cooler next to the check-out line to get her brat a soda... she`s behind me...i wasn`t even aware of her until i heard"o.k......if this man ever moves"....

when i say fat,she probably could have used some mud flaps installed on that ass... i was butt to crotch with the person in front of me....i turned around and gave this ghetto shitheel a look .....didn`t say anything....as much as i wanted to...thank god mrs weasel wasn`t there.....

what a frickin` day...:facepalm:

 

[MadJack]

what do you mean secured by a "first mortgage"?..

how can you guarantee something like this,s.d?......what`s your protection?....people are defaulting on all kinds of loans right and left....nobody gives a shit about defaulting...:shrug:

i stopped by the bank today on my way home to withdraw our money....very sad...people we`d dealt with for 20 years being shitcanned with no guarantees...i realized that even though it was costing me money,some good folks asses are literally in a sling...

then i stop in the grocery store,i`m standing in line and some fat cow is apparently trying to squeeze into a cooler next to the check-out line to get her brat a soda... she`s behind me...i wasn`t even aware of her until i heard"o.k......if this man ever moves"....

when i say fat,she probably could have used some mud flaps installed on that ass... i was butt to crotch with the person in front of me....i turned around and gave this ghetto shitheel a look .....didn`t say anything....as much as i wanted to...thank god mrs weasel wasn`t there.....

what a frickin` day...:facepalm:

So what's going on in Vegas? I am reading weasie posts and LOLing :mj07: :mj07:

 

[gardenweasel]

So what's going on in Vegas? I am reading weasie posts and LOLing :mj07: :mj07:

i`m fricking depressed after watching the fdic people,assesors and sundry other vultures picking over the carcass of a bank and it`s employees that served our family very well over the years...

where have all the flowers gone?:mj16:

 

[ukgaz]

GW, Depending upon where u live, become the bank. I have money people making 12-15% returns in 6 months with 2-4 points upfront. Money secured by first mortage.

Small rehab investors have been crushed by the banks and cannot get $$. I just lent a contractor 30K with a 60K return. He needed to buy out one of Pain in the Ass partners so it was worth it for him. Secured by a first mortgage.

Principle has been paid back as well a 1 payment in CASH.:toast:

I was just involed in a deal where an attorney lent a contractor 150K with 13K interest, 6 month deal.

I'm sure opportunities exist in your market as well.

GL

So...... 143 banks went under in the US so far in 2010. These banks specialized in...bank stuff. yet they still went under. Why would any one want to lend there hard earned money to people who don't care if they default on their loans

 

[dunclock]

and don't get me started on "savings" accounts rates :scared

 

[skulldog]

I not talking about lending to harry homeowners who are walking away I wasn't talking about 100% financing to people who shouldn't have owned a house to begin with. These hard money loans are 65-70 LTV
with borrowers who have skin in the game.

They are investors flipping houses all over the country and making plently of $. Some of the people with $$, do not want to risk it with the stock market, so they are either doing the " flip themselves or they're lending the money.