Okay so I opened a Roth 401k a while ago on Etrade because you have the flexibility to withdraw funds without penalty at any time. It's kinda like a savings account where any gains you make are untaxed as long as you wait till you retire to withdraw the GAINS. This is the important part; only the GAINS on what you deposit are restricted.
https://us.etrade.com/retirement/roth-ira
Read the chat below if you can make it through.
If you can't please let me summarize:
1. I show the rep where is says on the etrade website that I have: "Flexibility to withdraw original contributions tax-and penalty-free at any time, for any reason."
2. He points me to a page: https://us.etrade.com/e/t/prospectestation/pricing?id=1206010000&vanity=fees#SRF that does not list a "$25 early distribution fee" and he can't point it out to me anywhere on the website.
3. Rep fails to understand the difference between a withdraw and a distribution, even tho he works at a financial company.
4. Page he points me to also says nothing about a $25 withdraw fee for a ROTH IRA.
Conclusion: Etrade is false advertising here: https://us.etrade.com/retirement/roth-ira and on top of that can't point to the fine print policy that charges $25 for a withdraw from a ROTH IRA. Also Etrade is a douchebag company and employs people who don't know basic financial terms.
Here is the nightmare in it's entirety.
Question: Withdrawing money from ROTH IRA
[12:40:46 PM] Christopher Perisho has joined the room
[12:40:46 PM] John S has joined the room
[12:40:52 PM] John S has joined the room
[12:40:56 PM] Christopher Perisho: An investor can withdraw his or her contributions to a Roth IRA at any time without tax or penalty. But, that is not the same case for any earnings or interest that you have earned on your Roth IRA investment.
[12:41:34 PM] Christopher Perisho: I'm trying to take the $500 I have out of my Roth IRA that I put in there. You guys are trying to charge me $25 to do it.
[12:42:08 PM] Christopher Perisho: Well bellow any earnings or interest on the account.
[12:43:43 PM] John S: The IRS will not charge you any penalties. The $25 is an E*trade fee.
[12:44:32 PM] Christopher Perisho: For what?
[12:44:53 PM] John S: For an early withdrawal of funds from an IRA.
[12:46:23 PM] Christopher Perisho: <a href="https://us.etrade.com/retirement/roth-ira" target="_blank">https://us.etrade.com/retirement/roth-ira</a>
[12:46:50 PM] Christopher Perisho: Do you see anything on here about extorting $25 to withdrwaw my own money. Please underline it for me.
[12:47:54 PM] Christopher Perisho: I see this: Flexibility to withdraw original contributions tax-and penalty-free at any time, for any reason
[12:48:25 PM] Christopher Perisho: I dont' see the $25 extortion fee anywhere.
[12:48:54 PM] Christopher Perisho: Hello?
[12:49:11 PM] Christopher Perisho: Where is it?>
[12:49:14 PM] John S: Yes, that is referring to IRS taxes.
[12:49:28 PM] Christopher Perisho: It doesn't say that.
[12:49:37 PM] Christopher Perisho: it says: "Flexibility to withdraw original contributions tax-and penalty-free at any time, for any reason"
[12:50:10 PM] Christopher Perisho: tax and penalty free at any time for any reason.
[12:50:18 PM] Christopher Perisho: tax and penalty free at any time for any reason.
[12:50:20 PM] Christopher Perisho: tax and penalty free at any time for any reason.
[12:50:20 PM] Christopher Perisho: tax and penalty free at any time for any reason.
[12:50:21 PM] Christopher Perisho: tax and penalty free at any time for any reason.
[12:50:34 PM] Christopher Perisho: nothing about IRS
[12:50:35 PM] John S: Here is a link with the E*trade fees: https://us.etrade.com/e/t/prospectestation/pricing?id=1206010000&vanity=fees#SRF
[12:50:44 PM] Christopher Perisho: That
[12:50:52 PM] Christopher Perisho: isn't the page we are looking at.
[12:51:00 PM] Christopher Perisho: <a href="https://us.etrade.com/retirement/roth-ira" target="_blank">https://us.etrade.com/retirement/roth-ira</a>
[12:51:03 PM] Christopher Perisho: This is the page.
[12:51:07 PM] John S: The $25 fee isn't listed on that page.
[12:51:32 PM] John S: It is listed on the Fees page
[12:51:45 PM] Christopher Perisho: Well.. Then it's false advertising isn't it?
[12:51:59 PM] John S: No, because the fee is listed on the fees page.
[12:52:05 PM] Christopher Perisho: Flexibility to withdraw original contributions tax-and penalty-free at any time, for any reason
[12:52:15 PM] Christopher Perisho: Is what it says.
[12:52:23 PM] Christopher Perisho: I will sue.
[12:52:38 PM] Christopher Perisho: Or you can just waive the extortion fee.
[12:53:00 PM] John S: Sorry, this isn't something that we would be able to do.
[12:53:25 PM] Christopher Perisho: Let me talk to your supervisor
[12:56:07 PM] John S: Sorry, supervisors are not available through this chat service. You can call us directly at 1-800-387-2331 and request to speak with a supervisor. Also, here is a link to the account agreement that you agreed to that list Distribution Fees under the Fees section of the agreement: https://us.etrade.com/e/t/estation/contexthelp?id=1209033000#Individual
[12:57:53 PM] Christopher Perisho: I just did a search for $25 on that page and there are zero matches
[12:58:10 PM] Christopher Perisho: Underline it for me.
[12:58:14 PM] John S: You can find it by doing a search for Distribution Fees
[12:58:27 PM] John S: We don't list the fees amounts.
[12:59:20 PM] Christopher Perisho: Oh. no ammounts huh.
[12:59:29 PM] Christopher Perisho: or condtions.
[12:59:46 PM] Christopher Perisho: So it's complete bullshit in otherwords
[1:00:13 PM] Christopher Perisho: Flexibility to withdraw original contributions tax-and penalty-free at any time, for any reason
[1:00:13 PM] Christopher Perisho: Flexibility to withdraw original contributions tax-and penalty-free at any time, for any reason
[1:00:14 PM] Christopher Perisho: Flexibility to withdraw original contributions tax-and penalty-free at any time, for any reason
[1:01:00 PM] Christopher Perisho: I don't want a distribution, I want to do a withdraw of my money.
[1:01:16 PM] Christopher Perisho: Understand the difference?
[1:01:32 PM] John S: That would be the same thing as a distribution. Is there anything else that I may be able to assist you with today?
[1:01:49 PM] Christopher Perisho: No it woudln't look in your dictionary.
[1:02:00 PM] Christopher Perisho: Do you understand that words have meanings?
[1:02:13 PM] Christopher Perisho: Distribution is not a withdraw.
[1:02:49 PM] Christopher Perisho: Fix it.
[1:03:46 PM] John S: Sorry, that is not something that can be waived. Is there anything else that I may be able to assist you with today?
[1:05:09 PM] Christopher Perisho: You are full of crap. No, I don't think its possible for you to help anyone with anything since you can't understand English.
[1:05:29 PM] Christopher Perisho: Talking to you is a waste of my time obviously.
[1:05:52 PM] Christopher Perisho has left the room
Saturday, October 4, 2014
Friday, April 20, 2012
Apple Stock $1000 a share by 2014
I wish I hadn't sold half of my Apple stock. I don't feel bad enough about it to buy it back at a higher price right now. As I write this my Apple stock is being slammed down from around 640 to about 575, which I'm sad to say is still above the level I sold. I got skittish shortly after Mr. Jobs Died and sold off. Now I am realizing that this was just an emotional reaction. All of the things about apple that were true before are still true; they still have phenomenal growth, fantastic products, huge untapped markets, top management and fierce loyalty. Sure, some of the shine is gone from Apple, they are no longer the young upstart company fighting "The Man". In fact they have started growing into their role as The New Man (hopefully not same as the Old Man.)
My opinion, for whatever it is or isn't worth, is that Apple stock will hit $1000 per share at some point in the next two years. At that point I will most likely sell a half of my remaining shares and most likely I will regret that later too. Or maybe not.
My opinion, for whatever it is or isn't worth, is that Apple stock will hit $1000 per share at some point in the next two years. At that point I will most likely sell a half of my remaining shares and most likely I will regret that later too. Or maybe not.
Friday, August 19, 2011
Warren Buffet is welcome to pay as much tax as he wishes.
Warren Buffet is welcome to pay as much tax as he likes to the U.S. Federal government. That's the response I keep hearing from people about his recent op-ed in the New York Times.
It's a great thing for people to say because: 1. it's true and 2. it seems to make everything that Buffet says seem absurd.
The problem is that Warren Buffet wasn't saying that ONLY he should be taxed at a higher rate but that all folks who fall in the millionaire/billionaire club should be taxed at a slightly higher rate. Warren Buffet knows that just him and a couple of his friends paying higher taxes wouldn't help anything. And most of the people saying that 'he is welcome to pay as much as he likes' know it too.
So, why do they say it? Because it makes him look a bit like a jerk for not "putting his money where his mouth is" and ponying up. The problem is that Warren actually wants to solve the problem not just throw his money in to a black hole. He knows that if ALL of the rich were taxed at a slightly higher rate AND some spending cuts were made it would go a long way towards reducing the federal deficit.
I'm not going to rehash what he said but I hope you will reread it and realize that Mr. Buffet knows a thing or two about money. He is also a patriot who realizes that there are very few places on this planet where he could have accumulated the amount of wealth that he has. He is willing pay higher taxes for this privilege and the preserve the privilege for future generations.
Now I can hear the grumbling about penalizing success and class warfare and so on. Please.
If these same complainers were stranded on a lifeboat with enough food and water for everyone would they insist the that a few people get more because they are stronger or luckier or harder working than the rest? What if they were stranded on a Yacht? A Cruise ship? At what scale does it become okay for a few people to control all of the resources and deprive everyone else?
It's immoral to not raise the taxes slightly on people who can afford it in order to continue to help people who have almost nothing. I don't think the 80 year old widow who lives on social security wants a new diamond ring or a jet ski, she just wants to eat, sleep indoors and take her medication. Is is really too much to ask of our wealthiest citizens to pay a little more so that she can continue to live?
It's a great thing for people to say because: 1. it's true and 2. it seems to make everything that Buffet says seem absurd.
The problem is that Warren Buffet wasn't saying that ONLY he should be taxed at a higher rate but that all folks who fall in the millionaire/billionaire club should be taxed at a slightly higher rate. Warren Buffet knows that just him and a couple of his friends paying higher taxes wouldn't help anything. And most of the people saying that 'he is welcome to pay as much as he likes' know it too.
So, why do they say it? Because it makes him look a bit like a jerk for not "putting his money where his mouth is" and ponying up. The problem is that Warren actually wants to solve the problem not just throw his money in to a black hole. He knows that if ALL of the rich were taxed at a slightly higher rate AND some spending cuts were made it would go a long way towards reducing the federal deficit.
I'm not going to rehash what he said but I hope you will reread it and realize that Mr. Buffet knows a thing or two about money. He is also a patriot who realizes that there are very few places on this planet where he could have accumulated the amount of wealth that he has. He is willing pay higher taxes for this privilege and the preserve the privilege for future generations.
Now I can hear the grumbling about penalizing success and class warfare and so on. Please.
If these same complainers were stranded on a lifeboat with enough food and water for everyone would they insist the that a few people get more because they are stronger or luckier or harder working than the rest? What if they were stranded on a Yacht? A Cruise ship? At what scale does it become okay for a few people to control all of the resources and deprive everyone else?
It's immoral to not raise the taxes slightly on people who can afford it in order to continue to help people who have almost nothing. I don't think the 80 year old widow who lives on social security wants a new diamond ring or a jet ski, she just wants to eat, sleep indoors and take her medication. Is is really too much to ask of our wealthiest citizens to pay a little more so that she can continue to live?
Saturday, June 11, 2011
Getting your Travelzoo shares and turning them into cash.
Back in the 90's Travelzoo gave away shares in it's company to anyone who signed up with them for something-or-other and extra shares for people who got their friends to sign up as well. I managed to get 6 shares which at the time were worth almost nothing but recently were worth as much as $500 or so.
I decided to get sell my shares ASAP. The only problem is that you can't just click "sell shares" there are a few steps involved. If you have some of these shares, here is how to get them:
First thing to note is that at some point in the late 90's or early 00's Travelzoo made you confirm that you still wanted these shares by logging into their site and updating your information. I'm sure quite a few people lost their shares at that point. Travelzoo is kind of jerky for doing this, but what u gonna do?
1. Go to https://corporate.travelzoo.com/ir/services/account/ . You probably don't remember what your account number and/or password is but hopefully you remember what email address you were using in 1996 or whenever and still have access to it. (If you don't you are going to be writing a letter and posting it to TravelZoo via snail mail. I have a friend who is trying this route and has yet to hear back.) Click the link that will ask you for your email address and instructions will be emailed to you on how to recover your account number and password.
2. Once you are logged in go here: http://corporate.travelzoo.com/ir/services/ from here you should first make sure your contact information is up to date. After that is done you should click on ' Transfer Travelzoo Inc. stock into your brokerage account' - this will bring up a standardized form with your information on it. Print this form out. Also at the above link click on 'View your account with Travelzoo Inc. online' and print that page as well.
3. You'll notice at the top of the form that it says you must have a MEDALLION GUARANTEE on your signature or the form will be rejected. A medallion guarantee is much like a notary public seal but is specific for stock transfers. Most banks offer this service to their customers for free at the main branch if nowhere else. You MUST HAVE THE MEDALLION GUARANTEE ON THE FORM AND THE BANKER MUST WITNESS YOU SIGN IT. You should also bring a print out of the webpage stating how many shares you own (that you printed in step 2) and a print out of a recent quote on the stock price from Yahoo or wherever. This is very important. If you don't have all of theses things you might have to come back another day.
4. On the form you will need to enter your social security number and the number of shares in this format: '1 certificate @ 6 shares' This just means you want one certificate for the number of shares you own. I have six so I entered 6 shares- you will want to enter the number of shares that you own.
5. Take your form and make a few copies of it. Then post via certified letter the original form with the medallion guarantee to:
Computershare Trust Company, N.A.
P.O. Box 43070
Providence, RI 02940-3070
6. Wait one week. A certificate should arrive in the mail in a large envelope.
7. Now you have a stock certificate. What does that mean? Not much. If you can find someone to buy it you can transfer it to them by signing the back but most people will want to transfer it to a brokerage account.
8. If you already have a brokerage account you can transfer it by following their instructions. E*Trade sent me the following when I sent an email asking how to deposit my paper certificate:
Thank you for your message regarding stock certificate deposits.
To deposit certificates into a brokerage account, please complete the following instructions:
1. On the front of the certificate, write your full E*TRADE Securities account number in the upper-right corner.
2. On the back of the certificate, appoint E*TRADE Clearing LLC as attorney, and sign your name exactly as it appears on the face of the certificate.
We will complete any additional fields as necessary. If the certificate is registered to a name other than the name on the E*TRADE Securities account, please have the current certificate owner(s) sign the back of the certificate. Please also obtain a notarized letter of authorization from the current certificate owner(s) giving E*TRADE permission to deposit the certificate into the account.
Please mail both documents by Certified or Express Mail to the following address:
E*TRADE Securities LLC
Harborside Financial Center
501 Plaza 2
34 Exchange Place
Jersey City, NJ 07311
After the certificate has been received in good order, please allow three to five business days for the shares to be posted to the account. The account will be updated online once the deposit is complete. To view the shares online, please log on to the account and go to Trading & Portfolios > Portfolios. The cost basis information and the acquisition date of the stock can be updated here by clicking on the Edit link to the right of the shares.
Once the shares are in a brokerage account you can sell them when you think the time is right (ie the price is as high as you are gonna get) and at a moments notice. Most brokerages will accept certificates as an initial deposit. Call or email the brokerage to find out details.
Your local bank may also be able to sell the shares for you if you don't want a brokerage account.
Good luck!
P.S. buy Apple Stock, it's really a no brainer even if Stevie J dies.
P.P.S. I am not qualified to give investing advice to anyone. Anyone who follows my advice will probably lose everything they own and end up begging on the street corner.
I decided to get sell my shares ASAP. The only problem is that you can't just click "sell shares" there are a few steps involved. If you have some of these shares, here is how to get them:
First thing to note is that at some point in the late 90's or early 00's Travelzoo made you confirm that you still wanted these shares by logging into their site and updating your information. I'm sure quite a few people lost their shares at that point. Travelzoo is kind of jerky for doing this, but what u gonna do?
1. Go to https://corporate.travelzoo.com/ir/services/account/ . You probably don't remember what your account number and/or password is but hopefully you remember what email address you were using in 1996 or whenever and still have access to it. (If you don't you are going to be writing a letter and posting it to TravelZoo via snail mail. I have a friend who is trying this route and has yet to hear back.) Click the link that will ask you for your email address and instructions will be emailed to you on how to recover your account number and password.
2. Once you are logged in go here: http://corporate.travelzoo.com/ir/services/ from here you should first make sure your contact information is up to date. After that is done you should click on ' Transfer Travelzoo Inc. stock into your brokerage account' - this will bring up a standardized form with your information on it. Print this form out. Also at the above link click on 'View your account with Travelzoo Inc. online' and print that page as well.
3. You'll notice at the top of the form that it says you must have a MEDALLION GUARANTEE on your signature or the form will be rejected. A medallion guarantee is much like a notary public seal but is specific for stock transfers. Most banks offer this service to their customers for free at the main branch if nowhere else. You MUST HAVE THE MEDALLION GUARANTEE ON THE FORM AND THE BANKER MUST WITNESS YOU SIGN IT. You should also bring a print out of the webpage stating how many shares you own (that you printed in step 2) and a print out of a recent quote on the stock price from Yahoo or wherever. This is very important. If you don't have all of theses things you might have to come back another day.
4. On the form you will need to enter your social security number and the number of shares in this format: '1 certificate @ 6 shares' This just means you want one certificate for the number of shares you own. I have six so I entered 6 shares- you will want to enter the number of shares that you own.
5. Take your form and make a few copies of it. Then post via certified letter the original form with the medallion guarantee to:
Computershare Trust Company, N.A.
P.O. Box 43070
Providence, RI 02940-3070
6. Wait one week. A certificate should arrive in the mail in a large envelope.
7. Now you have a stock certificate. What does that mean? Not much. If you can find someone to buy it you can transfer it to them by signing the back but most people will want to transfer it to a brokerage account.
8. If you already have a brokerage account you can transfer it by following their instructions. E*Trade sent me the following when I sent an email asking how to deposit my paper certificate:
Thank you for your message regarding stock certificate deposits.
To deposit certificates into a brokerage account, please complete the following instructions:
1. On the front of the certificate, write your full E*TRADE Securities account number in the upper-right corner.
2. On the back of the certificate, appoint E*TRADE Clearing LLC as attorney, and sign your name exactly as it appears on the face of the certificate.
We will complete any additional fields as necessary. If the certificate is registered to a name other than the name on the E*TRADE Securities account, please have the current certificate owner(s) sign the back of the certificate. Please also obtain a notarized letter of authorization from the current certificate owner(s) giving E*TRADE permission to deposit the certificate into the account.
Please mail both documents by Certified or Express Mail to the following address:
E*TRADE Securities LLC
Harborside Financial Center
501 Plaza 2
34 Exchange Place
Jersey City, NJ 07311
After the certificate has been received in good order, please allow three to five business days for the shares to be posted to the account. The account will be updated online once the deposit is complete. To view the shares online, please log on to the account and go to Trading & Portfolios > Portfolios. The cost basis information and the acquisition date of the stock can be updated here by clicking on the Edit link to the right of the shares.
Once the shares are in a brokerage account you can sell them when you think the time is right (ie the price is as high as you are gonna get) and at a moments notice. Most brokerages will accept certificates as an initial deposit. Call or email the brokerage to find out details.
Your local bank may also be able to sell the shares for you if you don't want a brokerage account.
Good luck!
P.S. buy Apple Stock, it's really a no brainer even if Stevie J dies.
P.P.S. I am not qualified to give investing advice to anyone. Anyone who follows my advice will probably lose everything they own and end up begging on the street corner.
Tuesday, May 31, 2011
Self improvement. Self Awareness. Self Promotion.
I'm sort of on a self improvement kick. Or maybe not.
I am doing things to improve my life like stopping smoking(again), trying to eat properly, drinking very little alcohol, getting plenty of rest and exercise. I am also learning about some new things: Python (a wonderful language), Amazon's EC2, Google Apps Engine, and a few other things that caught my fancy.
But really I am not so much trying to improve myself as define myself to the outside world. I am updating my neglected resume, starting a blog or two, finally figuring out what Twitter and Linked-in are for, beefing up my profile on various networking sites, and starting to attempt to nurture some professional connections. What I am doing resembles self-promotion more than self-improvement. Self promotion is something I have never been good at, but it is arguably just as important as actual ability. After all what does it matter what you can do if nobody knows you can do it?
Self promotion requires that you define yourself to the outside world in a very consistent and clear way. Which means that not only you have to know yourself and your capabilities pretty well, you also have to know how others perceive you. While I do consider that I am pretty self aware (maybe "self involved" would be a better term), I really don't have a good idea of how other people perceive me, or where I might fall in the ecosystem of "technology people".
A 'general technologist' seems like a cop out, or the even more hideous "jack of all trades" moniker. The truth is I know some about a lot and a lot about some. More importantly I have curiosity, I'm reasonably intelligent, and I can read technical manuals, which essentially makes me an expert on everything... given enough time.
Maybe "Expert" would be a good title for me.
"Hi! I'm Chris Perisho and I'm an Expert."
For the time being my resume will say "Technologist" or "Information Technology Manager" or "Information Technology Administrator" depending on the situation or my mood that day and I will continue to inroduce myself as the 'IT guy' at work. Given the arc of my life so far, I don't think I will ever be a cog in a corporate machine so I probably won't have to be a "Systems Analyst" or a "Database Programmer". Maybe Entrepreneurial Technologist?
How about: 'Cloud Based Web 3.0 Social Memosphere Solution Provider'?
Nah, I don't think I'd like being a consultant.
I am doing things to improve my life like stopping smoking(again), trying to eat properly, drinking very little alcohol, getting plenty of rest and exercise. I am also learning about some new things: Python (a wonderful language), Amazon's EC2, Google Apps Engine, and a few other things that caught my fancy.
But really I am not so much trying to improve myself as define myself to the outside world. I am updating my neglected resume, starting a blog or two, finally figuring out what Twitter and Linked-in are for, beefing up my profile on various networking sites, and starting to attempt to nurture some professional connections. What I am doing resembles self-promotion more than self-improvement. Self promotion is something I have never been good at, but it is arguably just as important as actual ability. After all what does it matter what you can do if nobody knows you can do it?
Self promotion requires that you define yourself to the outside world in a very consistent and clear way. Which means that not only you have to know yourself and your capabilities pretty well, you also have to know how others perceive you. While I do consider that I am pretty self aware (maybe "self involved" would be a better term), I really don't have a good idea of how other people perceive me, or where I might fall in the ecosystem of "technology people".
A 'general technologist' seems like a cop out, or the even more hideous "jack of all trades" moniker. The truth is I know some about a lot and a lot about some. More importantly I have curiosity, I'm reasonably intelligent, and I can read technical manuals, which essentially makes me an expert on everything... given enough time.
Maybe "Expert" would be a good title for me.
"Hi! I'm Chris Perisho and I'm an Expert."
For the time being my resume will say "Technologist" or "Information Technology Manager" or "Information Technology Administrator" depending on the situation or my mood that day and I will continue to inroduce myself as the 'IT guy' at work. Given the arc of my life so far, I don't think I will ever be a cog in a corporate machine so I probably won't have to be a "Systems Analyst" or a "Database Programmer". Maybe Entrepreneurial Technologist?
How about: 'Cloud Based Web 3.0 Social Memosphere Solution Provider'?
Nah, I don't think I'd like being a consultant.
Wednesday, May 25, 2011
Portland Oregon average price per square foot micro housing and rain.
I am so sick of rain.
I am contemplating getting out of Portland for at least a month if not longer next winter/fall/spring. It rains all the time here and its starting to get really depressing.
Just down the street from my apartment there is a new development project called Division 43. The idea of this project is that they are building "green" micro homes (condos actually) ranging from 350 to 700 square feet or so. Prices for these condos start out at $120,000. While I think the developer has the right idea sort of, I really don't think those units are going to sell very well.
Some environmentally conscious folks might buy in, but most i think would end up building their own micro house before buying a prefab condo. And the yuppie set who do the "green thing" when it's convenient (no judgement here, I am 'green' unless it's a pain, and then I'm not so much) are not going to be willing to spend twice the going rate per square foot for a condo that doesn't have parking and will most likely lose value faster than a new car when you drive it off the lot. Whats more, you have property tax and condo association fees to contend with. Renting green is just as easy in this town, doesn't involve a commitment and it's usually cheaper.
I would consider buying one of the smallest units if they were selling for the going rate per square foot in Portland which would put the smallest 350 square foot unit right around $65K. If all else fails I could rent it out when I go to Arizona for the winter.
I am contemplating getting out of Portland for at least a month if not longer next winter/fall/spring. It rains all the time here and its starting to get really depressing.
Just down the street from my apartment there is a new development project called Division 43. The idea of this project is that they are building "green" micro homes (condos actually) ranging from 350 to 700 square feet or so. Prices for these condos start out at $120,000. While I think the developer has the right idea sort of, I really don't think those units are going to sell very well.
Some environmentally conscious folks might buy in, but most i think would end up building their own micro house before buying a prefab condo. And the yuppie set who do the "green thing" when it's convenient (no judgement here, I am 'green' unless it's a pain, and then I'm not so much) are not going to be willing to spend twice the going rate per square foot for a condo that doesn't have parking and will most likely lose value faster than a new car when you drive it off the lot. Whats more, you have property tax and condo association fees to contend with. Renting green is just as easy in this town, doesn't involve a commitment and it's usually cheaper.
I would consider buying one of the smallest units if they were selling for the going rate per square foot in Portland which would put the smallest 350 square foot unit right around $65K. If all else fails I could rent it out when I go to Arizona for the winter.
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