First edition: Love, Money + Real Estate

Truth, Lies + News About Life's Financial Milestones

November 13, 2021

Hi there.

Thanks for joining me - and for getting through another week, no small trick with all the noise out there (Pandemic, political, emotional, financial - you name it).

I published the Think Glink newsletter for years every Monday, until finally, in early 2021, I just needed to take a break. I’m sure you get that. It’s been quite the thing, this Covid Pandemic.

For those of you who have been loyal listeners (WSB and WGN radio), viewers (WGN-TV, awhile ago, admittedly), readers (of my books or syndicated column, written with my husband, real estate attorney extraordinaire Sam Tamkin), or visitors (to ThinkGlink.com or BestMoneyMoves.com) over the years, I have just two words for you: thank you!

But it feels like now is the right time to start up this newsletter, and I wanted to do it in a way that brings together all of my areas of interest (hence, the title) in a way that feels more authentic, personal and allows you to participate in the conversation.

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Setting Expectations (such as they are…)

Going forward, here’s what you can expect with each edition of Love, Money + Real Estate:

• Q+A Your questions (hopefully) and my thoughts (definitely) about how love (romantic, platonic, filial, unrequited) intersects with money (yours, mine, ours, theirs) and the real estate we live in, invest in, inherit, buy or sell. This section is about the decisions we make, or don’t, why that happens, and how you might want to think about things going forward. I invite you to participate by sending questions or adding your own life’s commentary.

• News I get hundreds of press releases each week about interesting things that relate to fintech, residential and commercial real estate, the psychology of our investments, government announcements, random bits of technology, new products, and so on. I’d like to share some of these with you, along with some commentary. If you see something cool that I’ve missed, feel free to send it to my attention or put it in the comments.

• Book Reviews It’s come to my attention that publishers are once again publishing books on finance (personal, investing, crypto, economics) and real estate (investing, buying, selling, staging, being a better agent, etc.). If you’re a publisher, feel free to send those my way for editorial consideration. I’ll even consider adding an exception novel now and again. Who knows? Maybe we’ll start a book club.

• Odds + Ends This could include photos of my garden (flowers, vegetables, or our newly-planted Japanese red maples); Luna, Nellie + Sugar (our close friends’ dogs that we love); updates about BestMoneyMoves.com (my financial wellness company); places I’m traveling (for work or fun); or other random things.

I expect I’ll get some great ideas from you - so again, feel free to engage.

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This Week’s Q+A

Here’s an edited and condensed version of a question I got last week:

Q: I wanted to buy a house 10 years ago but my credit wasn’t great. Mom put the house in her name but I’ve paid all the bills. I’d like to put the house in my name but my credit still hasn’t improved much. Oh, and my siblings think they deserve a piece. What should I do?

A: A few questions popped into my mind as I read your question, such as: Why hasn’t your credit improved in 10 years? Is there a written agreement between you and your mom about ownership? Have you ever had a conversation about transferring the property and what, if anything, she would expect financially from that transfer? Why do your siblings think they deserve a piece of the action when they haven’t put anything into the pot and what does this say about the relation you have with them?

You need to figure out if you can afford to refinance (pull a copy of your credit history, talk with a few different lenders), if your mom wants any cash out of the refinance (and where that cash is going to come from), and how you can make this happen with the least amount of muss and fuss.

At the end of the day, a few serious conversations are in order: with mom, with your siblings, and perhaps with everyone at the table together, maybe with a large plate of something chocolate (substitute liquid refreshments, if that works for you) nearby.

Money has a funny way of turning relationships on their head. All of the time, effort, and care we’ve put into those relationships over the year might peel back to reveal a rather unsavory truth or two. Let’s hope that doesn’t happen in your case.

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Here’s the complete answer I wrote. Feel free to leave your thoughts and comments below. If you’d like to send me a question, please leave it at questions@thinkglink.com.

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Money + Real Estate News of Interest

Interesting stuff from my inbox.

How much more would you pay? 59% of home buyers would be willing to pay above list price for a home and 25% of buyers would be willing to pay 15% above list, according to a recent Marcus by Goldman Sachs survey.

Medicare premiums on the rise. The government announced Friday night that Medicare Part B premiums are going up 14.5%. So, while your Social Security payment will rise 5.9%, healthcare will cost more. Most of it is due to the Covid Pandemic and uncertainty over the cost of the new Alzheimer’s drug.

Home buyers are moving to be closer to friends and family, according to the new Realtors Profile of Home Buyers and Sellers. But is that really a surprise? I want to live near my friends and family. Don’t you?

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On a Personal Note

I found the perfect fall tree this week. Just wanted to share. For more, check out my Instagram page.

Well, that’s it for this edition of the newsletter. Feedback welcome! And, if you like this, please tell a few of your friends.

Ilyce