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Involved discussion on finances and plans to purchase boats

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Old 07-18-2002, 03:30 PM
  #21
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Problem is my house is 25 years old, and these toll brothers houses are brand new.
Everyone wants new, vaulted ceilings, skylights, big foyers, big kitchens ect
Mine is not as big, not as fancy, so on and so on.
It is actually keeping my house price at a minimal cause these things are staring us in the face.
they are really HUGE looking but not overly huge inside.
nice homes definately, 700 thou worth of house, not by a long shot.
Hell they cant get zoning to put a IG pool in, cause of their postage stamp lots they are on (.2 and .3 acre lots)
the houses are around 3500 sq feet.
mine 2700 I think
My house will appreciate yes but the problem is no where around my area is going down, they are all going up like mad.
so If I sell and make some cash on my house, then I have to pay that increase if not more to get another house.
I hear what your saying though, go to a more lowered area of cost of living and start again and put more down to have less per month over head to free up $ for boat and boat payment
Okay that is good

So, that is 2 really good inputs there
#1 second mortgage if boat has right amenities and is able to be written off
#2 possible relocation to local less expensive yet equal amenitie home.

Getting there one by one with the answers.
Good discussion so far
Jason
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Old 07-18-2002, 03:46 PM
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My wife and I make a nice living(too bad I spend it as fast as we make it), but we bought a duplex while she was still in college so we could afford to get out of an apt. but still get a house. Went from paying $675 on an apt, to right at $400 on a mortage. Lived in one side and rented the other. Then we moved to the contry and rent both sides and let the over flow pay some of our mortgage. I like to try and be the jones instead of tryin to keep up with them We don't have a $100+ boat by anymeans but once the trucks and some bills are payed down the yes we will move to a larger boat

Oh, Jay by the way I am 28 and she is younger than I. I have watched my family members either rent houses until their kids have left school or other members file for bankruptcy. We will never go there I'll sell the houses and toys first then work towards it again. I agree with Shane on the book, I read one a few years ago and it make alot of sense. I can't remember the exact title something about a Barber(shane any idea?)but I am going to pick up the one Shane mentioned. If you pay bills off or down use the snowball method, it will work for you!!

You've got your goals, now just get a plan and work for them!!

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Old 07-18-2002, 03:47 PM
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yo dude
you should think about moving above Nockamixon. you'd be surprised how much cheaper it is to live just 20 min. north of Doylestown. once i'm ready i'm going to start looking up there. i've seen houses a tad smaller than yours with about the same yard for 60-90 thousand cheaper than your house. no pool and i know thats a snag with the Mrs. just an idea bro

Russ
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Old 07-18-2002, 04:02 PM
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Old 07-18-2002, 04:37 PM
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Like it was said before, Buy "New Used" I use to work at a marina while I was in college and I even sold a couple of boat's.

Anyway, what it tought me was Never buy a New Boat! There are WAY too many people that go out and buy a brand spanking new boat and finance it to the tilt, then when money get's tight it's the first thing to go!!

I use this theory in just about everything!! Car's, Truck's, Women oops!! I didn't mean that!!

I once heard from a salesman at a marina that sells a lot of large SeaRay's he said that the people that buy the big one's usually pay for it and not finance it!


BTW, I have never seen a Funeral Director in a new (or even a used) Skater, Outerlimit's, etc. Soo. I don't know where they are getting the Money!! All I know is that they ain't puttin people in the ground!!
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Old 07-18-2002, 04:57 PM
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Geez, now I feel really bad. Im 50, dont have a pot to piss in, although I do live on Lake Erie, no retirement, negative worth, tank for a boat, but I had a lot of fun getting here. I already have my retiremnet shopping cart picked out.
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Old 07-18-2002, 05:03 PM
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Eh kid, If you gotta ask, Fugettaboutit !

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Old 07-18-2002, 05:40 PM
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AND A LOT OF HARD WORK
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Old 07-18-2002, 05:48 PM
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Old 07-18-2002, 05:56 PM
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Jay .. at 31 you seem to be doing pretty good...We are prob in the same league as you and we are self employed with 2 small biz's going and a 3rd up and running in 3 weeks...I think it is all about priorities for most...at least for me it is.... I 'm chomping at the bit to have a newer and certainly a bigger boat..(20' CIG here) and could prob afford one if I quit sinking all my money into building my/our future and that of our daughters , BUT , first things first... I actually whent backwards with my last boat ...sold a 98 24' proline and bought this ole 20 cig ..had to pay for the new biz somehow...also sold my ski boat which was really nice...but first things first..

I will have a newer boat 35/38 something ...and with one of my stores being called DoublEdge a cat is certainly in order $$$ Skater no doubt... when will that happen ? I have no idea .

I also work a full time onj top of everything else and as mentioned earlier I pay noone to fix anything I can do myself..and if I cannot do it I learn how...15 yr mort. , the stores we have in operation were set up and built by my wife and I , I mean everything , lights , flooring, ect...ect..We bust our as#$% to just keep em going just as alot of the poeple you see tooling around in that 50 ' OL or whatever have done...just hoping our time is comming but all the while being thankful for what we have

I have often wondered the same thing you have ..How do they do it ?? for most it is hard work and yrs of it...HEY I can do that ..and so can you ...


sorry for the rambling...set some goals ...reach em ...set some more..
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