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Old 03-12-2009, 05:08 PM
 
Location: central, between Pepe's Tacos and Roberto's
2,086 posts, read 6,098,953 times
Reputation: 952

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Just got the email from my underwriter and she says no issues as long as you have the 2 years of tax returns to back it up. Underwriting will likely use adjusted gross income or taxable income (depending on if you itemize your deductions or not) so be aware of that.
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Old 03-12-2009, 05:11 PM
 
Location: Chattanooga, TN
12 posts, read 20,109 times
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Quote:
Originally Posted by Daddys///M3 View Post
Just got the email from my underwriter and she says no issues as long as you have the 2 years of tax returns to back it up. Underwriting will likely use adjusted gross income or taxable income (depending on if you itemize your deductions or not) so be aware of that.
Good to know. Again, thank you so much. That's a big weight off the shoulders
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Old 03-13-2009, 01:07 AM
 
Location: Phoenix, AZ
108 posts, read 253,901 times
Reputation: 93
As far as moving yourself or hiring someone. We moved from SoCal to WV, from WV to WA, from WA to SoCal, from SoCal to WV and now plan on moving to Las Vegas. Each time we've moved I've rented a LARGE Truck. In CA, and I assume in LV, I'd run over to Home Depot and get a few guys to come over and load the truck. In WV, I found neighbor kids to load and unload. Other times I loaded and unloaded. Then there's the drive. The newer trucks aren't really that bad. They have cruise control and ride pretty nice. You just have to remember that you're driving a big old truck and try not to hit anything overhead or backing up. And you REALLY don't want to have to back up if you're towing a Car/Car Carrier. It can be done but it's not a lot of fun. And you have to make sure that where your staying over night has truck parking that you can pull through.

Now, having said all that, this time, when we move out to LV, we're gonna hire movers. I'm getting too old for luggin' stuff around anymore!
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Old 03-13-2009, 01:45 PM
 
654 posts, read 1,096,849 times
Reputation: 1028
Quote:
Originally Posted by olecapt View Post
It has been my experience after having provided services to a couple three poker players that they really don't need places close to the strip. As I understand it the "action" is mostly at night and somewhat late at that.

Given that you can live anywhere. I do the strip in 20 minutes from my house well into the NW in the evening. And at 3AM makes no difference at all.
Normally, I'd acquiesce & defer to Olecapt's experience & knowledge, but I just don't agree on this one. I can make it door-to-door to the Orleans in 20 minutes & that just ain't happening from the NW - I drive fairly quickly. When I play poker, I start sometime between noon & 7 pm, depending on the day. Sometimes I'll play 5 hours, sometimes 12, although I've been known to play 25-30 hours on the odd occasion (if I'm rested, have the time & the game is good). Generally I run into some traffic on the way in, very little on the way back home. Most of the action IS at night, but not that late - many places start to empty out about 2-3 AM, on a busy day sometimes a little later.

Keep in mind very few poker players are filthy rich like TV portrays them. They're 'grinding' & making a living just like everyone else; expenses matter as in any business. On any given day, a poker player can lose money; how many jobs are like that? Vehicles expenses (depreciation, insurance, maintenance, gas) add up & that extra few miles of commute DOES matter, especially if gas climbs back close to $4.00/gallon.

All that said, the live games on the strip are generally pretty good, making it worthwhile to make the commute - the issue is finding the right balance.

As far as purchasing the house, be prepared to make a large down payment, unless your husband has an especially consistent poker income & has documented everything tax-wise. The no-doc/low-doc stated income loans have all but disappeared according to the mortgage brokers I use.

As far as movers, DO YOUR HOMEWORK! I found that it was cheaper to hire movers to make a long-term move. Most ultimately look at weight & distance; if you/they document a list of items, they use computer software to estimate the weight based on that list. My move was negotiated on a rate per pound, we were slightly higher than initially estimated but it was still FAR cheaper than other options. U-Haul would've cost about 40% more, even PODS would've cost about 30% more. (Keep in mind we had movers to load & unload.) PODS was especially disappointing, as the concept makes sense, but they don't consolidate like movers do. With the movers, they optimize travel so our stuff was moved with 4 other loads, that's why they were so much cheaper than PODS, U-Haul, etc.
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Old 03-13-2009, 02:18 PM
 
Location: NW Las Vegas - Lone Mountain
15,756 posts, read 32,498,817 times
Reputation: 2661
Well we will leave it that some poker players feel it is far and other poker plays feel it is not.

That fair?
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Old 03-13-2009, 02:19 PM
 
Location: Chattanooga, TN
12 posts, read 20,109 times
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Quote:
Originally Posted by delgadobb View Post
Normally, I'd acquiesce & defer to Olecapt's experience & knowledge, but I just don't agree on this one. I can make it door-to-door to the Orleans in 20 minutes & that just ain't happening from the NW - I drive fairly quickly. When I play poker, I start sometime between noon & 7 pm, depending on the day. Sometimes I'll play 5 hours, sometimes 12, although I've been known to play 25-30 hours on the odd occasion (if I'm rested, have the time & the game is good). Generally I run into some traffic on the way in, very little on the way back home. Most of the action IS at night, but not that late - many places start to empty out about 2-3 AM, on a busy day sometimes a little later.

Keep in mind very few poker players are filthy rich like TV portrays them. They're 'grinding' & making a living just like everyone else; expenses matter as in any business. On any given day, a poker player can lose money; how many jobs are like that? Vehicles expenses (depreciation, insurance, maintenance, gas) add up & that extra few miles of commute DOES matter, especially if gas climbs back close to $4.00/gallon.

All that said, the live games on the strip are generally pretty good, making it worthwhile to make the commute - the issue is finding the right balance.

As far as purchasing the house, be prepared to make a large down payment, unless your husband has an especially consistent poker income & has documented everything tax-wise. The no-doc/low-doc stated income loans have all but disappeared according to the mortgage brokers I use.

As far as movers, DO YOUR HOMEWORK! I found that it was cheaper to hire movers to make a long-term move. Most ultimately look at weight & distance; if you/they document a list of items, they use computer software to estimate the weight based on that list. My move was negotiated on a rate per pound, we were slightly higher than initially estimated but it was still FAR cheaper than other options. U-Haul would've cost about 40% more, even PODS would've cost about 30% more. (Keep in mind we had movers to load & unload.) PODS was especially disappointing, as the concept makes sense, but they don't consolidate like movers do. With the movers, they optimize travel so our stuff was moved with 4 other loads, that's why they were so much cheaper than PODS, U-Haul, etc.
Thanks for that information. I had thought about the PODS, but it seems I'm hearing mixed things about those. I've definitely got tons more research to do on movers. We're also heading to Vegas in May to check out the areas, so that will be a big help with things.
As for the house purchase, lucky for us, my husband has kept excellent records for tax purposes and our income has been steadily rising (which we are very thankful for in today's economy) over the past few years. As for the commute, a little farther isn't as big of a deal to us, as my husband would not be doing this very often. He has a really good thing going playing online (live games being "easier", but playing online offers the opportunity to make a good bit more for him), and we wouldn't be changing that up much unless necessary.
Again, thanks for your help!
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Old 03-13-2009, 08:56 PM
 
654 posts, read 1,096,849 times
Reputation: 1028
Quote:
Originally Posted by olecapt View Post
Well we will leave it that some poker players feel it is far and other poker plays feel it is not.

That fair?
Fair enough. We'll agree to disagree.

For infrequent live players, the NW might be a great option - I just can't see the commute working for someone who plays 5-6 days/wk, especially if they need to run home occasionally during a long session.
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Old 03-13-2009, 10:31 PM
 
Location: Home!
8,710 posts, read 10,144,214 times
Reputation: 8504
Quote:
Originally Posted by pokerplayerswife View Post
My husband and I will be moving to Las Vegas from Chattanooga, TN in the next 6-8 months with our daughter (who will be just over a year, and we're in our mid-twenties) and our 2 golden retrievers. We already have a stable income and work from home, so commutes aren't much of an issue for us, though we'd prefer not to have too long of a drive to the strip. We'd like an area that is family oriented with a lot of things to do, and a nice dog park wouldn't hurt either I've looked into living in the NW areas the most, as it seems they have what we are looking for in terms of safety and schools. We're looking for a house in the 115-140k range, and as I've browsed the forums and have seen a number of knowledgeable folks, I was hoping to get some advice. We're novices to the whole moving across country and homebuying process, so any input would really be appreciated. Thanks in advance!
I will add that if you are not worried about the commute (and seriously, it is not that bad from the NW) and you have a child and 2 dogs, check out Centennial Hills area/Aliante. Very nice. I looked at homes in the Silverado area, which is much closer to the Strip, and homes in the NW. I like both areas, but I prefer the NW area. We were searching in your same price range and you can get a nice home in that range, fewer in the Silverado area. They are snagged up quick, when they come on the mkt.

My husband works every day on the Strip-he HAS to go there-and he is willing to drive a little further for a better buy. ('Course working here in Detroit area, he drove 40 mins one way everyday so he is used to it, he thinks it is much easier there than here in MI). I am sure you have looked at homes online. Silverado area is 89123 and it is close to the Strip. Centennial Hills is 89143 and 89149, there may be more, but that is where we looked. You can at least compare the two areas with those zips.

Where are you staying in May?
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Old 03-13-2009, 11:33 PM
 
Location: Chattanooga, TN
12 posts, read 20,109 times
Reputation: 12
Quote:
Originally Posted by kimba01 View Post
I will add that if you are not worried about the commute (and seriously, it is not that bad from the NW) and you have a child and 2 dogs, check out Centennial Hills area/Aliante. Very nice. I looked at homes in the Silverado area, which is much closer to the Strip, and homes in the NW. I like both areas, but I prefer the NW area. We were searching in your same price range and you can get a nice home in that range, fewer in the Silverado area. They are snagged up quick, when they come on the mkt.

My husband works every day on the Strip-he HAS to go there-and he is willing to drive a little further for a better buy. ('Course working here in Detroit area, he drove 40 mins one way everyday so he is used to it, he thinks it is much easier there than here in MI). I am sure you have looked at homes online. Silverado area is 89123 and it is close to the Strip. Centennial Hills is 89143 and 89149, there may be more, but that is where we looked. You can at least compare the two areas with those zips.

Where are you staying in May?
I'm not sure where we'll be staying in May . . . we tend to procrastinate a bit, so as far as I've gotten is that we'll be there for a few days sometime around the end of May (we're visiting friends in L.A. so we thought we may as well do both while we're out this way). I have looked at tons of stuff online (trying to remedy that bad procrastination habit), just to get an idea of the type of things out there, and I can't wait to really get a feel of the areas.
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