branguscowgirl":38pqzsk7 said:
LRTX1":38pqzsk7 said:
A good credit score can be pretty handy to have when your buying a house.
Exactly.
Unless you have sold something, inherited something, or saved and bought land and built out of pocket, how are people mortgage free??
Having to start over more than once in my adult life, I don't think that I can have my farm paid off before I retire. :?
Those that have inherited family land well, they are very lucky. Those that had bought land when they were very young, are also lucky. But buying land in California is tuff on most people with single incomes. I have done well, but maybe not well enough. :?
How are people mortgage free? I don't know how others do it, but I will share how I have done it. I started in my 20s in the Air Force, bought our first place on a VA loan, little 5 ac spread. Sweat equaity, and smart BUYING allowed to sell at a substantial profit, repeat process with a 30 ac spread, sold at a profit upgrade to 56 acres, sold at a profit, upgrade to 80 acres, sold at a profit, upgrade to 125 acres which is where I am currently. This process has taken over 20 years, more sweat equity then I can explain, and the key is doing your research before you buy, so there is actually room to make money when you sell. Nothing tricky, no gimmicks, just discipline, hardwork and sacrifice, years without all the nice new toys and temptations, and now that it has snowballed for me into my 40s, I appreciate everything I have because I KNOW I earned it, and it is really mine. I went 19 years without a vacation. Wife and I went to Mexico last year and absolutely enjoyed ourselves and it meant so much because we had sacrificed for years. Little things like that just mean more. if you sacrifice early in life, you can enjoy A LOT later. I didn't have a rich daddy or uncle to leave me land,homes, cattle, equipment. I don't begrudge anyone who does, but if you do, you better understand what a responsibility you have and blessing you have been given.