Financial advise. Weighing whether to pay for my investment property in full or keep the debt? The investment prop is held under LLC, but was advised to keep the mortgage in order to further insulate myself from litigation. Not sure if I’m considering all factors, but this is an Airbnb property, so liability exposure is not as high as a tenant/landlord scenario. Thoughts?

like
Posting as :
works at
You are currently posting as works at

What does your financial planner suggest? I would follow his or her advice.

smartfunny

Can you do better than 6% with the money that you are considering using to pay off the mortgage?

like

Depends on factors like interest rate

like

How does the mortgage insulate you from litigation risk? And what’s the interest rate/length of the mortgage?

Debt on the property may deter a litigant from suing. Tho, another factor to consider and might outweigh debt, from a litigant perspective, insurance policy limits.

Reg mortgage, 30 years floating around 6%

Pay it off and maintain a solid insurance policy. Disclaimer: this is not legal advice

Related Posts

Joining Google in few weeks and my side gig these days is researching 529 plans for my almost 1 year old. Does anyone know if Google offer & contribute to any 529 plans? If so which one? I see it listed in benefits section of onboarding site but looking for the plan name at the least.

like

Didn't renew lease. Scared I wouldn't be able to find the next home, especially an affordable one with this current market.

They should extend covid rates

likefunny

Buying ETH in Robinhood.. bad idea?

like

Is it totally batshit to buy land in upstate NY and build on it “someday”? Would probably be financing the purchase.

Howdy friends. I am fresh out of college and want to set myself up well for the long run. Anyone have feedback on how much I’m saving % wise and anything I might be missing from my budget? My 401(k) is up to the full match. No debt other than a $3k student loan and tiny interest on what’s left of my car loan. Single. TX, USA

Post Photo
likeuplifting

Hi folks,

I am already covering 80c 1.5l limit by elss and pf.

Can i invest 50k only in nps and avail tax benefit under 80ccd 1b.

Tia.

like
like

Can we start a profit/loss thread? People should be able to learn, celebrate, discuss winning/losing trades.

like

I’m thinking of switching from robinhood to another brokerage, any suggestions?

like

Anyone following what's happening in MKR? A bit going on recently including investing in real world assets and breaking up the teams into Meta DAOs. 🐂 or 🐻?

Anyone can guide in options trading?🙂🙂
Lost around 10k😒

like

Hey
I have investment in crypto and as per kpmg policies we cant hold it. Can anyone please tell is there any way of holding the same and not getting caught.

like

[US FBI: Cryptocurrency ATMs are becoming the main tool of investment scammers]

In addition to conventional payment methods such as wire transfers and prepaid cards, cryptocurrency ATMs are also becoming a major tool for cryptocurrency investment scammers, according to the FBI

Post Photo
like

Associates - Care to share your rough budgets (income, spousal income/family support, rent, monthly spending, student loan payments, savings, etc.)?

like

If I leave Deloitte after one full year post MBA will I still get to keep the first installment of tuition or will I need to return it if I don’t stay the full two years?

like

Dropped in 6k to my Roth on 1/1 🥳

Post Photo
likeuplifting

Thoughts on buying a house now? Lease is up in January. Can finally afford to buy. But would it be better to wait until next year in case of recession -> foreclosure market -> better deals? WDYT

like
like

Live in SoCal with a combined household income of 210k. What is a reasonable amount to spend on a house?

like
like

More Posts

Just won MBB bingo: I just signed a contract with my third MBB firm. Do I get anything for “winning?” 🙈

likefunny

Any thoughts on how do we deal with an incompetent boss who you dont look up to and have no trust that you would ever get credit for the work you would do for him/her? Given that changing the boss is not an option.

like

Tiger Analytics - Senior Software Engineer(Data Engineering), [WFH]

Fractal Analytics - Azure Data Engineer, [WFO]

Airtel Africa - Big Data Developer, [Currently WFH]

Which one to choose, the compensation is more or less the same.

Looking for a learning environment.

YOE - 2

like

What are effective ways to ensure your team feels content within the workplace? There is a rise of many people feeling undervalued and not cared for as an employee. I would like to change that. No matter the job, no one should feel less than.

like

Has anyone ever had any luck applying for a hybrid job and convincing them to let you work fully remote? I'm seeing a lot of hybrid postings for my role but not a lot of fully remote ones.

like

Invited to interview for a PM role at Lending Tree. My first round is 30 mins with the hiring manager ( Director of Product) . Should I be expecting only behavioral questions/experience related questions given the time frame of the interview?

like

Current Strategy Consultant trying to find a 2nd remote job. Does anyone have any good recommendations for a 2nd job that is remote but not overbearing?

likesmart

Hi guys, Can somebody put some light on appraisal in RSM. What is an average % hike. Also any fixed criteria for promotions?

like

Considering a paralegal position at Buchanan Ingersoll. Can anyone provide opinions on this firm.

like

Nice try Accenture.

Post Photo
funnylike

Best consulting firms with best WLB? Do they exist? Young professional starting to think about where I'd like to work hard to end up in the next 5-10 years.

like

IEP, 504, and those without internet will return in-person next week while rest of students remain remote. Regular Ed teachers may have students (mild Learning Disabled kiddos) in their room while teaching. They are saying it’s a liability issue if they have one student in the room with them, even though teaching other via Zoom. Thoughts? Anyone else experiencing this?

like

How do you balance your social life with work? I feel like all my non-law friends are out doing shit every night and living it up on the weekends and I just can't. I'm either working or I'm tired from working. How can I set better boundaries about working outside of work, and where do y'all get the motivation to be outside after work 😭

like

What’s up DC?

Hello! I am a Technical Sourcer/Recruiter at a reputable FinTech company. I would like to transition into Project Coordination/Management within the tech space. Any tips for the transition? Recruiters: I am open to entry level & contract roles to gain experience! Thanks in advance for the assist!

Month end! How many hours did we bill for March? And how many of us entered it all in the last two days 😬🙋🏻‍♀️

likefunnyuplifting

To those who have delivered. Are they still doing photography at the hospital after you deliver?

like

I have accepted an offer for the role of Director of Data Science & Analytics and I'll be working with old colleagues. I am very excited. I haven't given notice yet because I am waiting for the background check to complete, but my boss just asked me about traveling to a meeting in November. I start at the new job Oct 25. I'm really struggling for how to respond. If I were not leaving it is absolutely a meeting I should be at. I don't want to respond with a lie. Any dvice on how to respond?

likesmart

My company hosts happy hours but I don't drink. Is it rude to just skip them?

like

Can’t seem to get anything done until the deadline is super close. Anyone else ?

like

Additional Posts in Law

We have motion sensor lights in my office and the sensor is far from my desk. Consequently, if I'm on a long WebEx, the lights go out and it's embarrassing. The building won't change the sensor. Anyone find a solution for this (aside from standing up and moving, which would be very awkward)? I can't rearrange my office.

funny

What is the expectation at your firms about coming into work after making your billable hours requirement? Asking especially for those who do not get a bonus per extra hour billed over the minimum.

like

Noob plaintif-side L&E lawyer here—how long should I wait for defense counsel to stall on a demand letter before I start getting ready to file?

like

What is the most “do as I say, not as I do” thing you’ve been told or punished/reprimaded for as an associate?

like

All of my experience is in litigation but I think I might like real estate more. Any advice on how to sell myself to a real estate firm?

like

Does anyone know what the day-to-day of a New York Assistant Attorney General is like? Is it fulfilling? Stressful? How is the work-life balance?

like

How many billable hours per week is considered at capacity? I’m getting pushback on boundaries I’m setting about additional matters and marketing work from my firm when I’ve been billing 60-75 hours per week for the last 6 weeks, and I’m still behind on my work. I feel like it’s reasonable to not kill myself further to fit in more/turn things around faster at this point, but am I being unreasonable? I expect my workload to remain at this level through the end of the year at least.

like

I’ve been with firms for 6 years. I struggle (not that I’m not intellectually capable of doing this job), I just hate the detail oriented nature of this industry. Everything gets scrutinized so carefully and most things I stayed up late for doesn’t matter.

I just got PIP talk and they are pushing me out next year. I’m kinda relieved. I want to leave law completely and be someone on the operation side. Eventually I want to be an COO.

How do I get there from here?

like

What would you prefer:

Job 1: 85k at small boutique firm (3 attorneys). Standard benefits but no 401k. Semi-annual raises. No billable hour requirement and regular 40 hour week. Being groomed to be a partner on a 2-3 year track.

Job 2: 135k at large regional firm (200 attorneys) good benefits. 1900 billable hours requirement. Partner track is 6-8 years but not guaranteed.

Both located in a MCOL area

like

Billables are low this month. Like I have 65 billable hours in so far. I’ve messaged partners over the last week to try and get more cases but there are tons of new associates who were just onboarded and were at a low point for business. I’m freaking out

like

Probably a foolish question: are bonuses based off of raw billable hours or billable hours modified by the partners?

like

tfw you realize you could have earned just as much money as a high-end lsat tutor

like

I’m so bad at writing the background/ facts section for briefs… it always gets heavily edited and no one is giving me constructive feedback other than “advocate more”. In contrast, my legal argument section is generally without edits. For context, first defense lit job post appellate clerkship. Is this normal?? Any tips for getting better other than “advocating more”?

likehelpful

I am having one of those days where I regret everything. I have been to 3 different law offices and I hated all of them. I’m wondering what my future is going to look like. Where do I go from here??

likehelpful

What is everyone’s: (1) billable hours this year; (2) practice group; (3) year; and (4) size of law firm?

like

Alston & Bird LLP Does anyone have any insight into associate pay, bonuses, min billable hours, and general work/life balance at Alston & Bird LLP? (DC Office)

like
likeuplifting

First year associates: what training do you wish your firm would give you right now that you aren’t getting?

like

How honest can you be with a recruiter? If you are looking for a job that will help tee you up for an in-house position, is it okay to say that? I'm meeting with a recruiter for the first time later today and I'm unsure about the whole process...

like

Layoffs. Most big firms say they're sitting on a conservative pile of cash - which I believe is true - but work will obviously not return to pre-COVID levels in the short term, probably not even in the medium term. Are Biglaw layoffs coming?

likefunny

New to Fishbowl?

Download the Fishbowl app to
unlock all discussions on Fishbowl.
That was just a preview…
Sign Up to see all discussions
  • Discover what it’s like to work at companies from real professionals
  • Get candid advice from people in your field in a safe space
  • Chat and network with other professionals in your field
Sign up in seconds to unlock all discussions on Fishbowl.

Already a user?
Login here

Share

Embed this post

Copy and paste embed code on your site

Preview

Download the
Fishbowl app

See what’s happening in your industry
from the palm of your hand.

A phone with Fishbowl app

Scan your QR code to download
Fishbowl app on your mobile

Download app

Sign up for free to view this conversation on Fishbowl

By continuing you agree to Terms of Use and Privacy Policy

Already have an account? Log in

Sign up for free to continue using Fishbowl

By continuing you agree to Terms of Use(New) and Privacy Policy(New)
Messaging rates may apply

Already have an account? Log in

For account settings, visit Fishbowl on Desktop Browser or

General

Legal