Opinion Please

[skyhightree1]

My wife wants to put up a single room house or double wide trailer up in the mountains where I grew up.This would be a vacation place to stay. Everything should be 50k or less more than likely. This is something she wants to do spring of 2015 once we get garage built and i want to buy another tract of land is why we are pushing this off and we like to always plan our projects for each year what we want to achieve and do. I wondered what yalls opinion on paying for which would yall use to pay for it?
a - out of our savings
b - finance
c - sell timber off of maybe 35 acres and let the timber pay for it then reclaim that area as pasture or maybe plant the trees back

 

[greybeard]

Multiple choice rule:
When in doubt, always choose "c".

That's my answer--C.
Keep in mind tho, that the loggers are going to leave a heck of a mess on that 35 acres, and it will cost some to clean that mess up, tho I do understand you are capable of doing it yourself since you already have heavy equipment--but even then, maintenance, repair, fuel and labor aren't free.

 

[dun]

If you can;t pay for it out of pocket (or savings) don;t do it till you can.

 

[highgrit]

I would fix up where I live now. More places = more headaches.

 

[chippie]

C.

I would like something like that. Sounds nice.

 

[TN Cattle Man]

My dad always told me to never finance pleasure (motorcycles, boats, toys, etc)... Always said that if I couldn't pay cash for stuff like that, I really didn't need it!

I have heeded his advise and it has worked out well for me. Trying to impart that same wisdom on my children now! So I would vot for either A or C!

 

[skyhightree1]

Multiple choice rule:
When in doubt, always choose "c".

That's my answer--C.
Keep in mind tho, that the loggers are going to leave a heck of a mess on that 35 acres, and it will cost some to clean that mess up, tho I do understand you are capable of doing it yourself since you already have heavy equipment--but even then, maintenance, repair, fuel and labor aren't free.

Excellent point... maybe I should cut 45 acres and have enough to cover all costs including replanting lol

 

[M5farm]

c and once done hire a managment co. for a percentage of vacation rent to keep it up and keep it rented the weeks your not there. It will then become an investment that you will see a return off of.

 

[melking]

My rule has always been. Never finance personal, but almost always finance business. Many tax advantages.

 

[skyhightree1]

c and once done hire a managment co. for a percentage of vacation rent to keep it up and keep it rented the weeks your not there. It will then become an investment that you will see a return off of.

Na its gonna be for family to use when we want to go back home to the mountains .. too much liability and bs when comes to renting.

 

[kenny thomas]

If you cut the timber whats left for the family fun that you bought it for?
And keep in mind in the mountains if its hardwood it wont need replanting if you cut.

 

[denvermartinfarms]

A or c, and I really advise building rather than a double wide. I would build a 18x30 with metal siding and a metal roof.

 

[shaz]

I would fix up where I live now. More places = more headaches.

AMEN!
Paying taxes and upkeep in 3 counties. Been there.

 

[skyhightree1]

If you cut the timber whats left for the family fun that you bought it for?
And keep in mind in the mountains if its hardwood it wont need replanting if you cut.

True but I was gonna cut my pines up here at my house it will bring more money up here lol

 

[skyhightree1]

A or c, and I really advise building rather than a double wide. I would build a 18x30 with metal siding and a metal roof.

True I am not a fan of double wides but considering it would only get used by us maybe and a big maybe once a year we were just spitting out ideas. I would rather do a modular or stick built 2 bdrm or something.

 

[john250]

Drain the savings, sell the timber.
Spend it on wine, women and hire a band for the funeral.
You never see a stone inscribed "I wish I had spent more time working".

 

[dun]

A or c, and I really advise building rather than a double wide. I would build a 18x30 with metal siding and a metal roof.

True I am not a fan of double wides but considering it would only get used by us maybe and a big maybe once a year we were just spitting out ideas. I would rather do a modular or stick built 2 bdrm or something.

Why not a travle trailer? Unless you plan on spending weeks at a time why go through the expense and worry?

 

[skyhightree1]

A or c, and I really advise building rather than a double wide. I would build a 18x30 with metal siding and a metal roof.

True I am not a fan of double wides but considering it would only get used by us maybe and a big maybe once a year we were just spitting out ideas. I would rather do a modular or stick built 2 bdrm or something.

Why not a travle trailer? Unless you plan on spending weeks at a time why go through the expense and worry?

Dun that is a excellent point the only thing that kinda worries me is its not a permanent structure and some fool could hook up and roll it off potentially. travel trailers are nice though.

 

[skyhightree1]

dun.. I decided to have 100 acres clear cut as soon as it gets dry enough....we were talking about the travel trailer earlier today and my grandma said why not a RV I have always wanted one of those which makes sense because I can build a concrete platform a septic system and a RV plug in and just store it at a family members place or in a storage facility till it needs to be used we are gonna probably start looking later this fall or winter when the rv sales people are hungry lol but we have not marked out a travel trailer nor a house.

 

[Aaron]

True I am not a fan of double wides but considering it would only get used by us maybe and a big maybe once a year we were just spitting out ideas. I would rather do a modular or stick built 2 bdrm or something.

Why not a travle trailer? Unless you plan on spending weeks at a time why go through the expense and worry?

Dun that is a excellent point the only thing that kinda worries me is its not a permanent structure and some fool could hook up and roll it off potentially. travel trailers are nice though.

Park it, jack it up, take the axles out (and sell them) and let it rest on blocks. Guarantee it won't go anywhere.