Money & Investing | Asian American Poll

MONEY & INVESTING
(Updated Tuesday, Apr 1, 2008, 05:11:57 PM to reflect the 100 most recent valid responses.)

Who handles the household checkbook in your family?
The Wife | 74%
The Husband | 26%

Which of the following ethnic groups attaches the most importance to making money?
Chinese Americans | 51%
Vietnamese Americans | 14%
Japanese Americans | 1%
Corean Americans | 30%
Filipino Americans | 4%

Which of the following do you consider to be your most important investment method currently?
Buy/Upgrade Own Home | 39%
Other real estate | 4%
Stocks/Options/Futures | 31%
Mutual Funds | 10%
Bank Deposits | 16%

This poll is closed to new input.
Comments posted during the past year remain available for browsing.

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WHAT YOU SAY

[This page is closed to new input. --Ed.]

Wilson,

Gold already rose 25% from the beginning of the year. You think there is still room for growth? Well if Bush keep declaring wars we can't win and ghost enemy in our nation. I wouldn't be surprise if it rose a little more, due to instability in the world.
AC Dropout Wednesday, July 10, 2002 at 06:43:45 (PDT)

1/2LostSoul,

I don't actually do the evictions. But the process goes something like this in NYC. If the tenant misses 1 months rent and we are unable to come to an agreement (30 days), I notify my lawyer that is on retainer. The lawyer files a $35 claim with the courts about lost rent for the month (30 days). The tenant can refute it in court, but in most cases it is defaulted because they don't show up after a court notification is handed to them by one of my employees.

At this point the lawyer contacts the sheriff department in NYC for forceful eviction (30 days) for an appointment date. The tenant at this point can contact the sheriff department and try to get an injunction from the court by telling them their sob story (30 days). If everything goes my way the tenant is throw out by the government. If not after this point the rent money goes into escrow, until things are resolved. If the tenent refuses to put the money in escrow, they are thrown out by court order and the sheriff department.

I mean the days are approximate, because the dead lines are like 15 days, 2 weeks, 3 weeks at each step of the process. But in real time each step takes about a month.

I'm sure each city has a different process for handling bad tenants, but I usually get someone who is pretty familar on handling situation like this to work on my behalf. There is a lot of weird little stuff you have to do to evict a tenent. Register mail, handing stuff to the original lease signer in person, attaching notices to the door of the unit, etc. Its like a drinking game...miss one step and you might lose or start over agian.

However, Repost has a very good point. If you are into acquiring properties you should develope a good relationship with a broker. Send the broker a fruit basket every now and then to show your appreciation for their help. You'll get a phone call every couple of months about a new listing that meet your expectations.
AC Dropout Wednesday, July 10, 2002 at 06:40:03 (PDT)

AC Dropout

Tai Kwan Do has a new belt system invented by a great martial arts master named MLK, didn't you know that? Hot pink for beginners, tangerine yellow for intermediates, and key lime green for advanced. The expert levels start off with leopard skin and work their way up to tiger stripes, ending with the Master's level of monkey fur. I have visions of you dancing about in hot pink, trying to attain the monkey fur (in your dreams). hehehe...keep trying. You'll eventually get that monkey fur, if you'll just keep trying and don't give up. It's all about determination plus a little luck.

Oh, and the balsa wood sandals that I have are still pretty much intact. It seems your Karate chop's not working too well. Oops, did I do a girlie thing and violate a taboo by mixing the different fighting styles? I'll make sure my dogs help you out as much as possible in your endeavors to break the shoes. They can torment you till you get mad and attain success.

My underwear drawer is full of cotton whites. Sorry to disappoint your vision of all that hot sexy underthings dancing in your head. Unlike you, I just hate scratchy lace and satin fabrics that don't 'breathe'. I'm just astounded how you manage not to scratch your crotch, what with all that itchy lace you wear. ;>

Hey, I didn't spend all that time and money at University and the salon to become a blonde housemaid! Sweeping your floors, indeed. The day I sweep your floor is the day I move in and take over possession of your house.

Waxing your pubic area...here we go again on your favorite topic. I'm sure you would be the perfect person to ask regarding how painful the waxing actually is, since you've personally gone through it yourself. So tell me, Mr. AC, how painful is it to be raw and hairless?

MLK Tuesday, July 09, 2002 at 23:20:56 (PDT)

to Repost

Heyyyyy!!! What MLK disease is this? I am a healthy woman! You did not catch nuthin' from me. :)
MLK Tuesday, July 09, 2002 at 20:29:50 (PDT)

Repost,

I only dabble in real estate as a tax shelter. They're more of a paper loss than anything else for my other business. In the USA my business mainly deals with wholesale.

As far as I'm aware if the tenant pays you after you filed a claim and taken them to court, you will have to accept it. If is it a continued behavior on the tenents part, I guess you could file another claim to get them removed. And stick their money in escrow. But I'm not sure since I have not been down that road with any of my tenents. Also it is common to get 2 months deposit in NYC.

The city is not really landlord friendly that's why I deal mostly in commercial properties. Worst case people go out of business, and leave. Also commercial property has less liabilities for the landlord. Hot water, heat, basic amenities is not your responsibity if you don't want them.
AC Dropout Tuesday, July 09, 2002 at 12:44:40 (PDT)

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