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you and i are closer on this than you may realize.

Posted on: July 26, 2017 at 11:12:41 CT

phrejd STL

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his high equity position in his current home (any my current home and it sounds like your current home) is great, mainly because it's relatively secure money that he can count on to roll into homes #2 (townhouse) and #3 (beach rental). in my plan, he's only going to be in home #2 for a few years, so trying to build up equity there might not make as much sense. on a $200k home, 30% is $60k. i'd rather put 20% down ($40k) and put the remainder in the market for a few years. at 10% compounded annually, that $20k difference is +$50k, plus any appreciation in the property value.

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MESSAGE THREAD

90Tiger, here's your 10 step plan: - phrejd MU

- 7/26 10:41:34

1. we are having open house this sunday, too late to - 90Tiger MU - 7/26 11:02:24

yeah now's probably a fine time to sell if things are ready(nm) - phrejd MU

- 7/26 11:17:39

Don't be walking around in your spandex biker gear - MidMoBaller4Life MU - 7/26 11:04:07

RE: Don't be walking around in your spandex biker gear - colonel angus beef KC - 7/26 11:05:58

I already made this suggestion without all the steps(nm) - hefeweizen MU

- 7/26 10:54:25

but you're poor so nobody listens to your advice (nm) - phrejd MU

- 7/26 10:54:59

I am? dammit. I missed out on all the free **** - hefeweizen MU

- 7/26 10:55:12

Probably the most helpful post I've ever seen (nm) - Cosmo MU

- 7/26 10:49:41

**** everything (nm) - lqf2b8 MU

- 7/26 11:38:30

lq is not going to like this (nm) - TigerwTLP MU

- 7/26 10:52:07

That's why phrejd is up there with tkb as the most helpful - kmawv8 MU - 7/26 10:51:59

only on certain subjects. usually my advice to the shack is - phrejd MU

- 7/26 10:53:46

i spend a lot of time thinking about this stuff. - phrejd MU

- 7/26 10:51:00

If you take out a hefty life insurance policy on your wife - TheWildcat STL - 7/26 10:59:17

or a 4x6 cell - meatiger MU - 7/26 11:08:43

lol those crime stories are always funny - MidMoBaller4Life MU - 7/26 11:02:58

i've watched enough dateline episodes to know that - phrejd MU

- 7/26 11:01:14

You so smart (nm) - TheWildcat STL - 7/26 10:46:38

Totally disagree with 4 and 5 - meatiger MU - 7/26 10:45:31

nobody is stopping you from being wrong. - phrejd MU

- 7/26 10:49:52

It mostly depends on where you are at now - meatiger MU - 7/26 10:58:26

you and i are closer on this than you may realize. - phrejd MU

- 7/26 11:12:41

I think we are - meatiger MU - 7/26 11:17:22

yeah my ideal timeline has my house paid off and kids out - phrejd MU

- 7/26 11:23:47

Where did I say put cash under the pillow - meatiger MU - 7/26 10:53:02

i'm joking. my only point there is that the growth would - phrejd MU

- 7/26 10:57:28

RE: i'm joking. my only point there is that the growth would - meatiger MU - 7/26 11:01:26

Especially when it's equity in a housing market that is high - kmawv8 MU - 7/26 10:58:44

he said equity under your pillow. - kmawv8 MU - 7/26 10:56:02

Problem: I see y'all as 70 years old in this scenario. - Evenflow MU - 7/26 10:52:58

no. i plan to be on the beach at 55, if not sooner. (nm) - phrejd MU

- 7/26 10:54:33

I plan to work until I'm dead. - Evenflow MU - 7/26 10:55:58

**** that. i don't even like to work now. i've developed an - phrejd MU

- 7/26 10:59:07

I'll say it again - Eggs MU - 7/26 11:00:24

well then you'll want to stay tuned for my next episode: - phrejd MU

- 7/26 11:25:17

and fyi those 10% and 4% rates were annual, not compounded - phrejd MU

- 7/26 10:52:45

^^^ this guy carries around a white envelope (nm) - kmawv8 MU - 7/26 10:46:40

I'd skip right to ten and just wing it on the rest. (nm) - Evenflow MU - 7/26 10:44:25

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