Tell us something we don’t know.

   / Tell us something we don’t know. #8,231  
Sounds like us (52 years this year). The key thing you said was "We live below our means." which most people don't do today.
When I hear about high "median home" prices research and you see this...but in my 20s I'd be looking at something like the old house like the second picture with a few acres. As long as it's structurally sound, roof doesn't leak it could be rewired, new plumbing, kitchen, windows, etc. which is what I did over time as I got money. I could add an addition, nice driveway...all that stuff.
I think lots of young people want to start off new and fairly large...maybe they don't know how to repair things.View attachment 859289View attachment 859290
Number 2 for me for the win.... One of my renters had a pie in the sky vision to build a bardominium on a piece of land they wanted to purchase. When they found out what it would cost, that nixed that deal real quick. The wife wants a palace (they are already renting a palace from me). She wants a palace on a blue collar wage, not happening today. Asked me if I want to sell it and my answer is always the same...NO.

Wife and I live in a number 2 which is a lot less nice than the homes I rent out. But our number 2 is paid for and I'm good with that.

Candidly speaking I make some serious jack on my rentals but I still manage to get a pretty healthy tax refund anyway because I have a good accountant and we write off as much as possible on the farm. I haven't turned a taxable profit on the farm in years and I plan on keeping it that way. Why I turn my equipment over when it's depreciated except for my pre-4 tractors that is. New disc machine this year and new rubber on both tractors to the tune of 5 grand each, plus I just purchased a new Kubota F series front mount diesel lawnmower for the farm, another write off. Every round bale of hay I run this year are all pre bought so that is one thing I don't have to worry about. Working for my Kubota dealer part time gets me a little added income but it usually averages out when I buy parts from him...lol. Told him I'd work for free if he wanted me too, so long as I got dealer cost on all parts and equipment. So far I have and he still pays me. He must be writing that off as well. Everyone including the owner are farmers too. Nice people to deal with and we are all on the same wavelength. You gotta plant or harvest and need some time off, no problem. Guess that is why he has no employee turnover. Not a fancy place at all, no glitzy showroom or dumb salespeople, just a nice homey place where people come to buy stuff, shoot the shitte and everyone is happy. I bet he sells more equipment than any other dealer around here. Real laid back too. Great person to know personally and so are all his employees as well. He sells Kubota full line plus full line Cub Cadet commercial units and now Echo Power products plus he services Case New Holland equipment. His lead tech, Dennis has a reputation for working on Case axial flow combines and they do a ton of work on them as well. Dennis and I shoot together, everyone there are gun nuts too.
 
 
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