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07-31-2021, 12:33 PM | #10861 |
Politically Incorrect
Join Date: Feb 2009
Location: Scottsdale, AZ
Casino cash: $811110
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Not my reason, I just think he's old and grumpy like the rest of us old farts on here!
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"The only difference between sex for free and sex for money is that sex for free costs you a WHOLE LOT more!" ~Redd Foxx~ "The men who drafted Patrick Mahomes" |
Posts: 52,854
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07-31-2021, 12:49 PM | #10862 |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $354734
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Posts: 58,212
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1 0 |
07-31-2021, 01:06 PM | #10863 | |
Would an idiot do that?
Join Date: Nov 2000
Location: Arizona
Casino cash: $874931
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Quote:
I'm sure (or certainly hope) there are cheaper cabins out there, but I'd feel like I have to be there every weekend... except there are the costs and time involved with each trip, too. But, I'm still in tent camping mode and haven't started down the path of RV/toy hauler/truck to tow it all/cabin in the woods... there's a flow chart. |
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Posts: 57,241
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07-31-2021, 01:15 PM | #10864 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $354734
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Quote:
WTF? 40%????? Yeah, that's not sustainable. And you certainly shouldn't expect anything like that kind of a return on an investment property. That's an absurd return. In terms of finding RE particularly homes, as investment vehicles, there are a lot of other things to consider. Debt service is obvious, but cash flow needs to be considered too. There is the monthly shit, but it really sucks when the air conditioner or water heater shits the bed or whatever else. That really puts a cramp on stuff. I'm not sure what you can secure for financing, but interest rate risk is a concern. Historically the way to make money on Real Estate was through rental, which you pretty much have to treat like a business. That's the way I'd approach this if you're looking to find a return. If you're looking for a vacation home, I'd treat it like a vacation, not an investment. Just my $.02. |
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Posts: 58,212
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07-31-2021, 01:19 PM | #10865 | |
Supporter
Join Date: Apr 2007
Location: Scott City KS
Casino cash: $354734
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Quote:
I have a cousin that has a cabin outside Colorado Springs. I can't imagine it's worth 300K. I'm skipping the RV phase. It's just not happening. I even have a diesel pickup. There's just a culture there I'm not into. |
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Posts: 58,212
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07-31-2021, 01:56 PM | #10866 |
Veteran
Join Date: Dec 2012
Casino cash: $10024530
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Quick question for you guys as we have 5 children. How many of you paid or helped pay for your kids college?
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Posts: 2,743
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07-31-2021, 02:17 PM | #10867 |
Seize life. Be an ermine.
Join Date: Jul 2001
Location: My house
Casino cash: $1358491
VARSITY
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I don't have kids, but I can confirm that my parents said I was on my own for college. And they kept that promise down to the penny.
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Active fan of the greatest team in NFL history. |
Posts: 143,188
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07-31-2021, 02:20 PM | #10868 |
Seize life. Be an ermine.
Join Date: Jul 2001
Location: My house
Casino cash: $1358491
VARSITY
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My wife and I went through a spell of wanting a cabin. It still seems like a good concept. But I just can't make the math work in terms of my time and effort and maintenance. You'd have to want to be a remote landlord for most of the year. And if you use it enough that you aren't the remote landlord, then you're just paying for two houses. Maybe that can work if you're in a rapidly appreciating area, but it just seems way easier to put it in stocks.
I might halfway be able to justify it if I was retired, but I think I just might like a bigger house where I'm not always worried what's going on in the vacant one.
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Active fan of the greatest team in NFL history. Last edited by Rain Man; 07-31-2021 at 02:25 PM.. |
Posts: 143,188
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07-31-2021, 02:34 PM | #10869 | |
Veteran
Join Date: Dec 2019
Location: Ohio
Casino cash: $-39600
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Quote:
That being said, we did set limits. We told my daughter we would pay for her undergrad to anywhere she wanted to go. However, if she chose a public university where costs were lower, we would also pay for grad/med school. In hindsight, giving her some skin in the game to choose wisely and do well while in school probably was our best decision. |
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Posts: 1,828
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07-31-2021, 03:29 PM | #10870 | |
Mod Team
Join Date: Sep 2011
Location: Valley of the hot as ****
Casino cash: $-28100
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Quote:
After I paid my parent's back $30k, they nicely told me the rest of my loan (another $30k) was forgiven. |
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Posts: 46,147
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07-31-2021, 03:33 PM | #10871 | |
Would an idiot do that?
Join Date: Nov 2000
Location: Arizona
Casino cash: $874931
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Quote:
While I appreciate the whole 'off the grid' thing, I do it here for the ATV rides... and even then, after a couple days of 6+ hour rides, I'm good. |
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Posts: 57,241
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07-31-2021, 03:33 PM | #10872 |
Banned
Join Date: Jan 2013
Casino cash: $9998560
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My parents had 4 kids. We lived poorly and didn't have much as compared to all my friends who's dad's worked at TWA.
But when college age came, they paid for every single one of us to go to college. It was all about that. Brother to Rolla. Sister to CMSU, me and other brother to NWMSU. Spending money was on us though. Last edited by eDave; 07-31-2021 at 06:21 PM.. |
Posts: 53,803
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07-31-2021, 04:54 PM | #10873 |
Starter
Join Date: May 2001
Location: phoenix
Casino cash: $9445300
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We have a tier system with our kids. They pay 75% their freshman year, 50% sophomore, 25% junior and we cover their senior year. Any additional years are on them.
We felt like it was important for them to have skin in the game especially early on. They both have partial scholarships and this setup keeps them motivated to maintain those. |
Posts: 93
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07-31-2021, 05:37 PM | #10874 |
Veteran
Join Date: Dec 2012
Casino cash: $10024530
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Thanks guys... Wife and I are lucky to have good jobs and we keep telling our kids we will pay for their undergrad as long as they stay out of trouble and pass all their classes.
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Posts: 2,743
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07-31-2021, 06:14 PM | #10875 |
Fish are scared of me
Join Date: Nov 2001
Casino cash: $-129523
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I put in my stone yard when my daughter was two just to fund her college education. It's worked out perfectly. She got the first two years of her college paid by the state of Texas by qualifying for quest , basically having good grades and attendance in high school.
She heads for a dorm in August at West Texas A&M for the 2nd semester of her now Junior year. The rock yard is a casual business I only have to go onsite by call. It's actually funding her college and my fishing . The one thing I know I'm doing wrong is not pushing her to help out by getting a job but my agreement with her was that if she made good grades and applied herself I would take care of it. She's definitely lived up to her end of the bargain so I really can't complain. She's 21 and had to have a mass removed from her breast yesterday. When they gave her the anesthesia to put her under her throat closed off and she quit breathing . It was a rough day. She didn't deserve all that. |
Posts: 40,646
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