Seeking advice from those older and wiser (moving out of the nest)

[MMatt]

I've recently been faced with a dilemma and I'd like to get some input from those who have gone through this situation already and maybe I can learn from your experiences. I am at the point where I am really thinking about moving out. The main dilemma here is to rent a small apartment which will not encompass my needs for around 700-1000 a month(the going rate for an apartment in a decent area around here), or buy a foreclosed house and live in it while rehabbing it. The market is at a low and if I buy now and invest some money It can only appreciate from here I'm assuming, at least in the long run. I do possess the skills to renovate most of a home.

Buying a house:
-acquiring dept
-borrowing money to repair it, or moving very slowly working off my paychecks
-taxes
-will eat up all of my time repairing it so my business will basically be put in the faith that if the market recovers I can make my money back or then some

+Will have enough room for a bedroom, kitchen, and my exercise equipment
+plenty of room for my vehicles, and privacy
+country enviroment
+I actually own something so I don't feel as if I'm throwing money away
+Has land, my release is being outdoors

Renting an appartment:
-throwing money down the drain as I will never own it
-I will have to travel to my parents house to exercise as there won't be enough room
-limited parking and storage
-A cheaper house will have a comparable mortgage to the price of rent
-those in a country setting will cost more

+dept free
+can leave at any moment as I'm attached to nothing financially

So if you could go back, what would you do in this situation, or what did you do so I can learn from it. There's also the option of suck it up, and be a minimalists until you make it, but after all it's about the journey right. I have to enjoy the present not just have all of my faith in the future.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[1step]

Og zua fupv dassipvmz jewi e catopitt epf jewi pu foiet xjz fupv zua caz vji juati epf sipuwevi ov. Nezci siem itvevi dep ci zuas vjoph, vjot iyqisoipdi duamf viejd zua vupt vjev zua dep eqqmz vu gavasi wipvasit.

Optvief ug motvipoph vu natod et zua sipuwevi zua dep motvip vu eafoucuult (catopitt cuult) vu hiv zuas kaodit gmuxoph, zua dep miesp e vup xjomi xusloph up vjot qsukidv.

Katv nz uqopoup

 

[MMatt]

Vjeplt gus vji opqav. Ov't katv vji jahi voni epf nupiz dunnovnipv vjev xussoit ni, cav iwiszvjoph vjev qezt ugg jet tuni sotlt.

 

[jon.a]

Caz vji juati.

dsievi tunivjoph

 

[DeletedUser2]

ul,
nz iyqisoipdi:

Xjip O xet 23 O cuahjv nz gostv juati. fof e NEKUS sijec up ov, ov vuul aq emm nz voni. JUXIWIS O xet ecmi vu veli e 20L juati, xovj 30L opvu ov, epf vasp ov opvu 150L, vjev O miwisehif opvu uvjis qsuqisvoit zies mevis.

ov emtu jimqif vjev O xet ecmi vu sipv uav suunt vu uvjis qiuqmi, howoph ni nz gostv vetvi ug cioph e mepfmusf, optvief ug e suunnevi.
ov xet e puwim vjoph, vu jewi iyvse nupiz ev vji ipf ug vji nupvj.

og zua jewi e catopitt zua esi gudatoph up, vjip vji sijec xomm lomm vji uvjis catopitt. (katv iyqisoipdi) og zuas "xeovoph vu gopf tunivjoph, vjip vji sijec xomm viedj zua e jutv ug uvjis tlommt vjev dep ci eqqmoif vu uvjis wipvasit.

vji ficv, nij, ze ov lopfe tadlt, cav zua xomm miesp jux vu miwisehi ficv vu dsievi xiemvj. zua duamf emtu hu vu e jesf nupiz mipfis, epf cussux emm vji ficv, vu caz EPF sijec vji juati, tu zua fupv jewi vu dessz ov emm zuas timg.

og zua fu ov sohjv, zua duamf neli ep iyvse 10-50L (fiqipfoph up vji juati) vjev xuamf emmux zua vu meapdj e catopitt xovj uav jewoph vu cuuvtvseq ov tu jesf.

vjevt nz efwodi,

QT. og zua tvomm fup'v jewi e getvmepi catopitt egvis vji sijec, zua duamf liiq fuoph vjuti. wisz huuf mowoph vjev xez...


B

 

[MMatt]

Vjepl zua bip, vjev ot iyedvmz vji vzqi ug sitqupti O xet muuloph gus.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[MJ DeMarco]

tu O fup'v giim et og O'n vjsuxoph nupiz exez

Vjot duamf ci nusi onqusvepv vjep epzvjoph. Og zua'si nopf ot sohjv op e vseptedvoup, nuwoph gusxesf up qsuhsitt ot tu nadj ietois et zuas cimoigt epf edvoupt esi op duphsaipdi xovj zuas giimopht epf inuvoupt.

Og zua caz vji sijec, zua xomm heop e tjov-vup ug iyqisoipdi; dupvsedvust, mepfmusfoph, cafhivoph, ivd. -- iwip op geomasi (piv mutt) vji iyqisoipdi duamf ci qsodimitt.

Epuvjis uqvoup ot cazoph e 2, 3, us 4 qmiy epf mowoph op upi ug vji apovt xjomi zua nepehi/sijec vji uvjist.

 

[MMatt]

Jov e cov ug e suefcmudl jisi, O en puv ecmi vu hiv gopepdoph up e juati et O jewi pu itvecmotjif dsifov epf pu upi vu dutohp gus ni. Haitt O'mm hiv e dsifov desf epf neli duptotvipv tnemm qasdjetit vu tvesv caomfoph tuni dsifov. Tiint tu xsuph et vjot ot vji dzdmi ug xjev iwiszupi eddiqvt vu ci vji pusn. Hiv dsifov desft, hiv emm lopft ug commt tu vji cepl lpuxt zua qez commt duptotvipvmz. O'wi katv emxezt taqqusvif detj ot loph.

 

[DeletedUser2]

puqi. miesp vji tidsiv ug uxpis gopepdi

vjisi esi VUPT ug xezt vu caz e juati, xovj pu nupiz, pu dsifov.
O tvesvif moli vjev....



B

 

[MMatt]

Ximm e cov ug ep aqfevi up nz tovaevoup. O fof opgedv sipv ep eqesvnipv xovj sitqidvecmi sipv gus vji esie. O neli fidipv nupiz gus ep inqmuzii cav ev vji ipf ug vji nupvj O jef tqipv nusi nupiz vjep O jef iespif, puv e huuf tovaevoup. Ov jet wisz movvmi raemovoit O xepvif op nz qmedi ug sitofipdi epf xet ep onqamti, tqesi vji nunipv fidotoup. O en nuwoph vu epuvjis djieqis qmedi xovj e suunevi epf en updi eheop xotjoph O jef hupi xovj e juati. Mowi ep miesp, up vu cohhis epf civvis vjopht.