Buy the rent house, then use that income to make truck payments. The house should last a lot longer.
Just a thought.
Just a thought.
As a person who owns rentals, it doesn’t work that way. Until you get it paid off, you are good if it pays for itself along the way (as long as you have a reasonable term on your note, i.e. 10 years).Buy the rent house, then use that income to make truck payments. The house should last a lot longer.
Just a thought.
And good renters... and nothing breaking down on you... etc., etc.,
I agree, if you want to spend that kind of money on a truck, and it makes you happy, and you can afford it without putting yourself or your family in a bind, go for it.
But for well over $1k/month (assuming 20k down and under 5% interest on 72 months), I can take my family on a relatively nice trip every 3 months. I just can't wrap my head around spending that. But then, I want land, and I can't wrap my head around spending the money it takes for that, either.
I'm a cheapskate, I guess. And a dumbass, I effed up my credit years ago and have had to work to repair it. Never grew up with money, never learned about loans and investments and retirement and land ownership, business ownership, etc. So it's all new to me, and I still think like a guy making $14/hour and working 400-500 hours a month to try to make ends meet. I guess there's some good, and some bad to that, eh?
If you'll check his post, he said he had the cash. So no financing required.
A new bass boat, all dressed up is going to run in the $60,000 range. Same as a nice truck.
Oh okay. In post 112 he was talking about financing a $35-45,000 truck. So I didn’t figure he had enough cash to buy a decent rent house. Not one that would revenue enough to make a $45,000 truck payment at least
A new Ranger to replace mine was a little over $80k rigged out like I want it.
i have plenty of cash to go buy a new truck outright i was just considering financing (especially if 0%) so i wouldn't be out that large sum all at once. I like to sit on a good amount of cash in case an investment opportunity pops up.
Ive had 2 rentals in the past and i don't care for it really. My father in law has 20 rent houses and when it rains it pours when it comes to repairs lol. I own a small boat and RV storage and really like it as far as passive income is concerned.
Ive had 2 rentals in the past and i don't care for it really. My father in law has 20 rent houses and when it rains it pours when it comes to repairs lol. I own a small boat and RV storage and really like it as far as passive income is concerned.
Gone up since the last time I looked at a new one.
went to the dealership today. Best offer they could do was me trading in my truck (they valued at $8k) plus $50k cash. I cant bring myself to drop that much on a vehicle so i walked away. That was my first time to a dealership and the whole experience made me more motivated to invest my money on some assets. If i was a millionaire i would have left there with a really nice truck today.
