Wyoming B.S. Thread

Do still look into the 15 year though. It sounds like it is higher but can be surprisingly similar if you can get rid of PMI by doing it. We are currently looking into going from a 30 year to a 15 year and its surprisingly similar monthly payment wise (getting rid of PMI though)

Congrats on the potential land purchase though!



In my world...new garage build is about to get started. Got a concrete guy lined up to pour the slab and he thinks they should get to it in 2-4 weeks. Which is much better than other guys who basically said maybe this summer sometime.

 

Ah nice! New garage is a dream. Hopefully I'll be able to do a big ass shop at some point.

Interesting though. I will look into it. 15 years of suffering might be worth it.

 

Pics??

 

This gives you an idea. Was cloudy so you can't see any of the 3-4 mountain ranges we'll have good views of. The crazys will look awesome.

 

So took a shock off a week or so ago. And one of the misalignment spaces fell off and couldn't find. Whatever I figured I'd finish the other side and stumble on to it as I went.

No dice.

I can not find this fucking misalignment spacer and it's driving me absolutely crazy.

 

The missing keys are always where you think they aren't. It's a law. A subset of Murphy's.

 

Well fuck that Guy. I have a trip to get ready for. 2 hours later no luck. I'm done for now. Guess I'll clean the whole garage..

Nice! That's cool. What kind of van? They have ambitious plans to use it? Every national park in the country?

 

Cool man. Yeah I'm sure that won't stop them. My mom talks about seeing all the national parks but doesn't want to do it in my dad's truck haha I mean all of that is basically paved anyways.

Sprinter vans are crazy expensive anyways.

 

Oh yeah definitely those things will be good. Some decent tires too won't hurt and maybe a set of chains or something similar.

I agree, however, my Dad's isn't the most comfortable. The seats hurt my moms back and it's not very quiet due to well..mods and such. Which is difficult when Dad is half deaf haha Of course they use it for camping and things still.


So true. Everything is so expensive. I used to think I made good money until I looked at what it compared to what my dad made 25 years ago and yeah..

60k isn't too bad considered that would only get you a base sprinter van I think.

 

@Blackdawg - AWESOME! Congrats and have fun with the land and doing what you want with it. I'm sure you guys will love it!

This is a great idea, totally worth doing.

One other thing to consider - or take into account - when you run the amortization is to consider what your money will be doing if you don't use it to pay off the loan/make extra payments.

I don't know what loans are for land+build, and of course, PMI, etc. all affect this as well, but once you factor all that in...

• If your APR is 3.00%, and your money would otherwise be in a checking account making 0.01%, it clearly makes sense to make as many early payments as possible, so you save all that interest.
• If your APR is 3.00%, but your money could be invested in a S&P500 index fund (or something similar), which has a 30-year average return of ~7-9%, you'd actually come out ahead by a lot (hundreds of thousands of dollars) if you leave the money invested, rather than paying off the mortgage early.

Either way, it's a good "problem" to have though! Land ownership in the USA is a great thing.

 

ha! that's funny.

And true, it's a different world. I just think it's interesting in general the strength of the dollar mainly though was my point. 60k back in 95ish was 103k today hahaha like...wow haha


oooof...soo...yeah probably not great considering how much the 7th is being used? what are you getting a tank?

Thanks man. Not offical yet of course..

Im not even 100% sure we can afford it all. 90% sure though.

But yeah the real question is being able to afford either option on top of just living. Which is actually something we have to consider. But such is life these days. I've put a lot of money away thankfully in the last couple of years so that's nice. but probably be harder to do that moving forward.

 

damn, 10.6 huh. thats a lot of space!

 

Yeah almost too much ha but really should be nice. It's kind of crazy to walk around it. Feels very big.

I've been doing bimonthly contributions to my stuff. Plus lump sum at end of year depending on what I can afford. A little goes a long long ways. Adds up faster than you'd think.


Wow haha 12 is not good. but seems about right for a 35s and boosted taco.

 

That's why you just set it up to do it EFT and you never do think about it. I don't. Think i have like 8 EFT's going on or more throughout the month for various things including my rent payment. Set it and forget it and live with it. You'll surprise yourself what things will look like in just a year or two.

ha no doubt. Thats really why doing a V8 swap probably is good. I'd bet you could at least still get 15-18 regularly that way

 

Electronic funds transfer, that way the withdrawal happens without you having a chance to forget

 

I'd argue you'd open a can of worms to even more great noises with a v8 haha including a supercharger if you wanted..


Electronic Fund Transfer.

AKA

automatic money moving magic. Basically you just schedule payments into accounts as you want. How much, how frequently, for how long, ect.

Wasn't your dad an accountant? How did he not tell you about this haha

 

imo it depends on what youre investing in. I certainly wouldnt pull out equity to just dump it in the stock market, at some point id like the house paid off. However...investment opportunities come up with our company every now and then to buy into spec house builds, so id heloc my house to put 30k into a spec house and return 40% or so after 1.5-2 years. Once we get a good chunk of equity in the house, my buddy and i have certainly discussed the possibility of pulling equity out to buy another piece of property.

for steady savings, after bills are paid, i transfer the remaining money (already have a sufficient checking acct fund i maintain for incidentals and emergencies) i put the rest into my brokerage and throw it into eft's or certain equities if im feeling frisky. Its a really volatile savings account lol. At this point, with living expenses so low...i think i save at least 50% of my after tax income

 

working towards that true slum lord status I see hahahaha

 

we are already there...but yes. the slum lord empire must grow. The jackson market went to the moon so fucking fast, even if i had the cash to down pay on another house i wouldnt do it. The prices are just too high. There are new developments in the works, and eventually this nonsense market here will have to come back to earth or at least closer than it is.

bedrooms here are renting for 1000-1300 each (for normal working people)...3-4 bedroom houses built in the early 80s are selling for 1.7-2m...the mortgage vs rent income just doesent make sense right now.

 

housing blew up everywhere. Did the same here. Granted not in the millions..but still houses that were going for 250-300k are now doing close to double. It's crazy. Why we are trying to build, not really another option and in some way's it's cheaper.