Rhett's Thread

[RhettMan]

Justed wanted a thread to post pics......

so......texas snow...........

[Mike Leary]

Piker......

[RhettMan]

That must be what you yanks call a Snow Mobiele

[Waterlogged]

Hey Rhett how are you doing down there. The snow missed use this time but,we got about 12" ten days ago.

[RhettMan]

Im freezing down here

"when i get rich" I am going to buy a house in the middle of mexico...... and live there from nov - march every year :)

how are things on your side of the country?

[ARGOS]

Piker......

The question is whether this snow fall was in Texas?

I can WAY top that photo...piker.

[Mike Leary]

I can WAY top that photo.

Go right ahead, judging from your avatar, you are related to Clayton Moore?

[hoskm01]

Given the little queen palm he's got in the foreground, I'd say hes south of I40

[RhettMan]

leary im buying my first home before june 1st (sent my loan application in yesterday, so "mortgage guy" may say otherwise)

anyway.....if you could have advise yourself at age 22 (with what you know now) to buy an airstream and rent a storage bldg. and a rv pad rather than buying a house, would you?

the idea of being stuck somewhere with a mortgage and home, i dont like ....

but the thought of never getting my rent payments back, i dont like either.....

is airstream a reasonable way to live for cheaper and get investment back with a sell?

[RhettMan]

oh and im a bachelor, so no kids no wife and noooo plans for them :)

I figure I'll just save my money till im gray and then go the hugh heffner route...

[bcg]

Houses appreciate, Airstreams, while they hold their value better than other RVs, still depreciate. If you're going to buy something and aren't immediately traveling, you should build equity, not pay down a liability.

[Who is John Malt]

Houses appreciate, Airstreams, while they hold their value better than other RVs, still depreciate. If you're going to buy something and aren't immediately traveling, you should build equity, not pay down a liability.

But it depends on your goals. If you want a house now, it's a great time to be a buyer. If you want to minimize your "footprint" and prefer a minimalist lifestyle, buy an Airstream and go where you want.

[Mike Leary]

Houses appreciate, Airstreams, while they hold their value better than other RVs, still depreciate. If you're going to buy something and aren't immediately traveling, you should build equity, not pay down a liability.

That's exactly what we did, bought a old beater house and restored it, built a shop and ran the business for twenty-five years, worked well and the business prospered. As I got into my fifties, we realized that traveling would be fun, but could not afford a high-line motor home and have a mortgage at the same time. We sold the house, had a ton of equity by then, installed full hook-ups in back of my shop, lived there for a few years and traveled as much as the business would permit. Paid all our bills off, sold the business, sold the shop and got moving. When we go back north, we rent the hook-up from the friend that bought my shop. Works well.

[txgrassguy]

Once I get through all of the crap associated with my train wreck of a divorce I have plans to:
1. Sell my business and return into the corporate fold - sad but true.
2. Acquire about thirty acres. I want some space to hunt on, build a 300 meter range, maybe have enough of a open area to construct a grass strip.
3. On the land I will first put in a well, build up sustaining power so no grid charges, pour a slab for my fifth wheel.
4. Then commence to build a small, around 1000 square foot house - by myself. Always wanted to build my own place.
5. Or - just stay where I'm at in a small subdivision as the residence I have now will be paid off in two or three years.
Being single again in my late forties has taught me a few things about society in general and myself specifically. If I had it to do all over again I would not become tied into a mortgage, have close neighbors and just putter through life doing my own thing.
Rhett, I like the idea of a fifth wheel - some of them are quite nice, are of a good size for one person, mobile and are cheap to insure. Plus, when you go into 'ol Mexico you can take your place with you.

[RhettMan]

here's what i really want :)

[RhettMan]

something similar too....

[RhettMan]

here a little something i dreamed up about a week ago....

deed restrictions and water, are concerns

[DanaMac]

I have always been amazed at the need for homes that are McMansions. 4k-10k sq. foot homes are too much for just about anybody. Our house is 2100 sq. ft and two car garage for the two of us and our two dogs, and if it wasn't for the 30 boxes of backpacks, we rarely use the basement.

[RhettMan]

I like the idea of a fifth wheel as well..... but I cant sell my truck, I promissed myself I'd drive it till it just wont be reasonable to rebuild anymore.....

by the way....!

what do you think of......

[DanaMac]

I'm not big on driving billboards. Just my opinion. If I letter our vehicles, it will be subtle.

[RhettMan]

I'm not big on driving billboards. Just my opinion. If I letter our vehicles, it will be subtle.

I couldnt possibly agree more......This is just a plan to have until i reach my maximum number of maintenace jobs that my current help and equipment can handle...then.....

off with the graphics :)

[RhettMan]

any one ever get one of these?

I only own a pint of purple and a pint of cement.....

should i call and say "I dont have anything worth listing?

[RhettMan]

try number 2

[Mike Leary]

Is your truck part of the business or personal?

[RhettMan]

my truck is personal

[Mike Leary]

I'd say you're home free.

[RhettMan]

Nice, thanks...

Now if I can just talk you into selling me the stream :)

[Mike Leary]

Nice, thanks...

Now if I can just talk you into selling me the stream :)

There's some nice used ones on this site. There's a little pop down page in the upper right hand corner that is a classified section.

http://airforums.com

[RhettMan]

http://airforums.com

awesome, thats perfect, all i need is one of each of these...

[RhettMan]

is a common spigot all thats needed for water?

does it have a shower?

where is the septic commonly drained?

[Mike Leary]

Depending on the zoning, it can be done. :clapping:

[RhettMan]

mike, any idea of where i can find some pictures of some "neat home base pads"....

I think Im going to run with this one.....Ive got that gut feeling....

Depreciation is certain....but the expense is minimal....this economy and its housing bubble can kiss it :)

[Mike Leary]

A good start would be to Google "r.v. housing enclosures". Airstreams get to be worth more, not less.

[RhettMan]

Airstreams get to be worth more, not less.

Couldnt believe the year models on alot of the older models on airforums, I cannot possibly imagine a fiberglass type rv looking that good 40 years later....

like this?

[RhettMan]

I think this has been a very productive day having nothing to do

[DanaMac]

One thing I don't like, is how most homes nowadays have the big garage doors on the front of the house, which take away some of the architectural appeal of the home. I'd rather see more homes with a set back garage, or you drive down the driveway, and turn into the garage with the doors more hidden by being at the back.

[RhettMan]

i hear ya, alot of home builders are using the garage door as an architechural feature around here, I like the stained wooden ones with black shackles

Nice avatar, I think i saw on AOL or Yahoo while checkin my mail that there is a pregnant woman competeing in curling or hurling or whatever that is.....

I have a personally policy not to click on those headlines though, so i dont know the story, those catchy news pieces steal my day when im on my way to check my e-mail :angry:

[DanaMac]

Nice avatar, I think i saw on AOL or Yahoo while checkin my mail that there is a pregnant woman competeing in curling or hurling or whatever that is.....

That's correct. I don't remember from what country, but she is 5 months pregnant. Hey, if she isn't sweeping on the ice, she'd be sweeping at home, right? :laugh::laugh::laugh:

[RhettMan]

im just happy she isnt a dedicated pole vaulter :)

Mike, I had to pull out the drawing stuff for this......

Do you like this idea?

[Mike Leary]

Do you like this idea?

I do, though I've seen some enclosures that had separate living/cooking quarters attached so you were not locked into the coach. Might be a way of getting around codes, too.

[bcg]

Hey, Rhett, on that BPP rendition, it's criminal in Tx not to file those now, as in you can actually go to jail, so I'd talk to an accountant before blowing that off.

[Mike Leary]

Hey, Rhett, on that BPP rendition, it's criminal in Tx not to file those now, as in you can actually go to jail, so I'd talk to an accountant before blowing that off.

I assume all of you have some kind of accountant/CPA to take care of the sticky stuff; I never would have survived without mine.

[RhettMan]

Thanks for the heads up on the seriousness of it :) I'll make a visit to the appraisal district office tomorrow

Im sure they'll understand

[AI Inc]

Hey, Rhett, on that BPP rendition, it's criminal in Tx not to file those now, as in you can actually go to jail, so I'd talk to an accountant before blowing that off.

I dont blow off any local taxes anymore. Did the jail thing , not realy for me.

[Mike Leary]

Someone once said, "in order to be a outlaw, you've got to be honest". Any contractor, big or small needs their people to keep up on the stuff we could care about, but counts, big.

[AI Inc]

Preferably someone who dosnt have A.D.D , the main reason we dont care jack about it in the first place.

[txgrassguy]

Rhett, you'll find working with an appraisal district a bit more difficult than you would think.
The fact that your truck is for personal use, if you use it just once to tow a trailer for work - the district wants their tax.
I'd suggest talking with a local tax advisory first before speaking with the appraisal people.
Since I rent my maintenance building the property owner is responsible for all of that stuff but when I first started over ten years ago I stored stuff at my first residence. And got a visit from the appraisal people whose main comment concerned all of the equipment I had therefore I should be able to afford their tax. I moved everything the next day but it didn't matter as I got a notice in the mail saying I owed "prorated" taxes from when I filed my DBA till when the equipment was moved. I got a P.O. Box as well so absolutely no business mail went to the house.
The tax wasn't much but still it was a bit of a pain as when I went to pay the office staff was very suspicious that suddenly my business wasn't at my residence any longer. I came outside one day at about 5:00pm and saw a strange car in my driveway and a guy snooping around - turns out it was a "surprise" visit from the appraisal people. I informed the dude he was trespassing and to leave immediately and he refused saying he wasn't finished yet so I ended up calling the sheriff's department to "escort" the dipshit off of my property.
Then I found out that properly posted No Trespassing signs aren't worth squat as the person on your property has to be actively engaged in criminal activity for the sign to be considered enforceable. The Deputy said the best signage was No Admittance posted more prominently than a No Trespassing sign so no one allegedly could enter without my permission.

[RhettMan]

saw this cool rv pad today, I want one of those....

and looked at this piece of land for sale

[RhettMan]

by the way, thanks for the tips and advice guys!

feels pretty good to know someone is looking out for your best interest :)

[Mike Leary]

by the way, thanks for the tips and advice guys!

That looks like a neat piece of property!

[EagleLandscape]

buy a home, not a mobile home.

trust me on this one. you want to build equity, not at best case break even on an airstream. even giving some models will appreciate, across the board a home in a good location is a better investment.

this is why i owned 9 homes, building 10 more this summer, and don't own an airstream.

when i do buy a motorhome (actually a motorcoach) this is what I will more than likely get.

http://www.philcooper.com/albums/jow-05/P1000675.jpg

goal is purchase < 5 yr.

[RhettMan]

thats a bad motorcoach, quit making your neighbors feel poor lol

Hey I might need ur list of sub's soon..... I just happened to run into a concrete tejano yesterday who quoted $5.50 sqft for 5" rebar slab....what say you?

and....When should I tell my help to be ready to throw some sod down on some new homes :)

[Mike Leary]

buy a home, not a mobile home.

trust me on this one. you want to build equity, not at best case break even on an airstream. even giving some models will appreciate, across the board a home in a good location is a better investment.

this is why i owned 9 homes, building 10 more this summer, and don't own an airstream.

when i do buy a motorhome (actually a motorcoach) this is what I will more than likely get.

I agree with J; I had enough equity when I sold my rentals to pay cash for the Airstream. When you're young, put your money in land/homes. I was in my late forties when I decided to dial-down. Here's one for you John.newellcoach.com

[RhettMan]

i agree as well, this is my latest plan in a nutshell (critique this please, no need to "beat around the bush"

1. buy low-cost land with water and elec,
2. build low-cost quarters ( www.generalshelters.com cabins) (small house like in earlier pages), keeping a very simple - decent looking lot over say 5-10 years

Key Point
I've Finally got my trailer fixed like i want it,
I've talked myself into keeping and repairing my current equipment used to make $$ for the next 5 years at the least.
I've talked myself into simply filling all the time that i have available with jobs but not to hire any others.
I'm Keeping my truck till its a classic No wife, no kids, no "liability type purchases"

3. Saving up $110,000 in the next 5-10 years and then paying cash for a small house that will bring around 14.5k in rent per year. and repeat, and repeat, and repeat, and repeat, and repeat, and repeat.........


Till I have $1,000,000 in home value or about 145k income from rent....

I havent planned past this......maybe then I'll by a motor airstream :)

[Wet_Boots]

go to Vegas and put it all on 22, black.

[Mike Leary]

Thee only other advise I could be giving, would be to avoid plastic if at all possible. We use a debit card and keep a couple of cards for any emergencies.

[RhettMan]

Thee only other advise I could be giving, would be to avoid plastic if at all possible. We use a debit card and keep a couple of cards for any emergencies.

Same :)

On credit for emergencies, I was able to lock in 9.24% APR with no fees my sophmore year of college and never defaulted

I havent been able to find a deal like that since then....

[bcg]

3. Saving up $110,000 in the next 5-10 years and then paying cash for a small house that will bring around 14.5k in rent per year. and repeat, and repeat, and repeat, and repeat, and repeat, and repeat.........


I don't think I'd recommend tying up cash in a house like that with interest rates where they are right now. If you've got $110k, you can buy 3 or 4 $110k houses with 20% down, let someone else finish paying for them, charge rental rates that will cover the mortgage and allow some profit, and keep an adequate cushion for unexpected repairs or vacancies.

Being a landlord can be a big job, I'd also suggest hiring a management company, at least at first, to deal with renting them, collecting rent, dealign with tenant issues (repairs, tenant caused damages, evictions if needed, etc.).

[EagleLandscape]

I agree with bcg. Where the rates are currently, a loan on an investment property almost becomes free money. Paying cash for something, with rates so low is a bad idea.

ML: I saw one of those coaches on the road the other day, very impressive. how does their cost compare to a Prevost?

[EagleLandscape]

Cranking out 10 of these this summer (plans attached)

Also have another 4/4 to build, a 4plex to bulldoze since it burned down and rebuild something else on it.

Lining up plans to construct an 18 unit apartment complex in College Station as well.

In the mean time, on the landscape front, our salesperson is generating a good storm... should be another successful year from the looks of things.

Rhett, I would stay away from the home picture you posted if you are considering building that as a spec in College Station. That's not where the market is headed. With more and more students coming into Texas A&M from wealthy families, they are going to be spending upwards of $500 per month in rent per person, and they want the amenities that come with it. Going to need around a 1600+ sq home, granite counter tops, etc.

Where are looking at another piece of land west of rock prairie near The Barracks subdivision... it'll be a cool development. Like the woodlands apartments, but legit:)

[Mike Leary]

ML: I saw one of those coaches on the road the other day, very impressive. how does their cost compare to a Prevost?

Same amount, 1.5 mil & up. A friend has one of these and he let me drive it:like driving a cloud.:clapping::clapping::clapping:

marathoncoach.com

[Mike Leary]

ML: I saw one of those coaches on the road the other day, very impressive. how does their cost compare to a Prevost?

Same amount, 1.5 mil & up. A friend has one of these and let me drive it: like driving a cloud.:clapping::clapping::clapping:

marathoncoach.com

[ARGOS]

go to Vegas and put it all on 22, black.

Ditto......

[Mike Leary]

Ditto......

Not really, I was once snowstorm-trapped in Denver with some music biz types.
They taught me to play "Hearts", I won a thousand dollars, never played cards again: "first one's free."

[ARGOS]

My thought. There is no such thing as free money.

All good plans carry risk. I actually have a lot of experience in realestate. Good and bad.

[FIMCO-MEISTER]

look what real estate did for Israel. All your neighbors hate you and you got the one piece with no real oil reserves.

having said that real estate forces stability and limits options and mobility in life. detroit is bulldozing down massive amounts of real estate. Just pray you don't get some nut that does drugs especially meth. with our govt new emphasis on propping real estate and seeing them as environmental hazards plus the new azzholes inspectors have become i'd just go in with eyes wide open. It does create a forced savings plan in which the equity is not easily accessible. I'm ambivalent about real estate. I'm going the exact opposite route. Best deal on real estate in my opinion is your local state park. I still think real estate has a lot further to go down. We have a very false economy.

[bcg]

Yes, but, you're at the end of your green industry, location based career and Rhett is at the beginning. You can't really say that if you were doing it again you would instead buy a depreciating liability for the time that you were going to be tied to one location by your work anyway, would you?

Rental property is a good investment in most cases. Detroit is kind of an American anomaly (along with the other factory based economies in Ohio, etc.). A city with only one primary employer that everyone else lives or dies with is not a good place to buy anything, sooner or later progress will get any business, whether it means they move to remain competitive or they close down because they can't compete with foreign production. San Antonio, or any Texas city for that matter, really doesn't fall into that realm, with the exception maybe of Corpus being very heavily energy industry dependant but, even Corpus has the Naval Air Station and a lot of agricultural industry around it to buffer it somewhat from a down energy economy.

[FIMCO-MEISTER]

i agree Rhett should buy a home. I was just doing a hindsight reflection. Before I invest in real estate again though I would own my main domicile 100%. Instead of taking my savings and buying several rentals I wish I had just retired the note on my house. i realize all the tax stuff so no wonk lectures. Attitudes and safety are more important than being governed by an immoral tax code. You want to be prepared for the absolute worse first and then expand out from there.
Set up an IRA
Get married and go to church
Own your house outright.
Have a years worth of savings
Then buy real estate as an investment.......You can also buy REITs and get some RE exposure without the management headaches. Just research the REITs well. The return may not be as great but they move with you and don't put you in court.

[bcg]

My problem with the REIT's is that a lot of them got caught up in the housing boom and lost their a$$es when it bust. That's not to say that you or I wouldn't have done the same thing but, one of the reasons I own my own business is that I don't want to have anyone to blame but myself if things go poorly and I no longer have a "job." I feel the same way about investments to an extent, I want as much direct control as I can have so that I've got no one to blame but me. I've always had control issues though... :)

[EagleLandscape]

I would stay out of REITs (commercial) for the next 6-9 months. The shat is going to hit the fan in 6 months, and if you have a good stack of cash I would put it there.

However, on another note... I don't do any outside investing anymore. If I don't directly need it to live on, it is given away. No need for me to die a rich man, it will all burn in the end. Can't take $10mil in savings with me when I die.

[Mike Leary]

Can't take $10mil in savings with me when I die.

Good point, though you could be buried in a hell of a motorcoach! :clapping:

[FIMCO-MEISTER]

A reit like any fund is a so so investment when it is a lump sum one time purchase. Funds only work real well when the investments are monthly over a long time period to take advantage of dollar cost avging.....
if you buy a 100 shares at 20, 15, 10, 8, and it eventually goes back to 20 then you are okay. If you buy it all 400 shares at 20 then you broke even. If you are Warren Buffet you buy 400 at 8 but you ain't Warren Buffet so dollar cost avging makes up for your lack of genius.

[bcg]

I bought Ford at $2.00, does that make me a genius?

I also bought Cisco at $60, so I was due... Wish I'd bough a whole lot more Ford at $2.00 than I did.

[EagleLandscape]

I bought Ford at $2.00, does that make me a genius?

I also bought Cisco at $60, so I was due... Wish I'd bough a whole lot more Ford at $2.00 than I did.

Good buy on Ford! My neighbor bought it around 3 or so, sold it high 6's a maybe 6 months ago? Pocketed about 30k i think. Built a steel building with his earnings and got his principal investment back... I didn't know this guy could even spell the word "CAT" but apparently he was doing something right:)

[ARGOS]

Unfortunately I wish I bought cisco at $60.

[Wet_Boots]

I bought Crisco for $3

[ARGOS]

I bought Crisco for $3

People still buy Crisco?

[RhettMan]

Looked at this 16x40 Bachelor Mansion Today.... around 25k

Heavy Insulation, Thick Plyboard flooring, hardy plank between plyboard and tile

Should get me through a year or two, maybe 5.....

[RhettMan]

" Mo Picha's "

[ARGOS]

Aren't those called "man caves".

[RhettMan]

get this.....as far as I understand it....they are actually able to be classified as a pier and beam home... since they are built so similar....

they cannot simply sit on the ground though, have to be up on blocks

[Wet_Boots]

it needs an old sofa on the porch

[RhettMan]

it needs an old sofa on the porch

well, come on :)

[RhettMan]

me and my dad looked at this economy office building on saturday, his friend has $13,000 in it at this point...

Not Bad IMO

[Wet_Boots]

it needs an old sofa on the porch :p

[RhettMan]

it needs an old sofa on the porch :p

lol, maybe a "like seat"

a sofa might block the door

[EagleLandscape]

buy a home! actually buy one of mine. I have 14 in CS right now for sale.
please?

i doubt that thing has any resale value whatsoever... not a sound investment.

[FIMCO-MEISTER]

I bought Ford at $2.00, does that make me a genius?

I also bought Cisco at $60, so I was due... Wish I'd bough a whole lot more Ford at $2.00 than I did.

You are comparing individual stocks to funds. I would advise any long term investor to stay away from individual stocks unless they are getting matching purchases from the company they are employed by or started the stock themselves like Bill Gates and Microsoft.

99% of investors cannot remove the emotional aspect of individual stock purchases. Stick with index funds and keep your bond portion at the same age you are. If you are 25 you should be in 25% bonds the rest split between the SP500 and the NASDAQ indexes. Stay away from management fees.
just my 2 cents. If you have Mad Money then have some fun I guess. Wouldn't use my IRAs as Mad Money though.

[RhettMan]

my dad helped me open an etrade account when I was 17 (maybe 18?)

and I bought 2000 dollars worth of Fire water beverages at around $.26 a share.....thought wow thats cheap! :hammerhead:........sold it at $.13 for a new suspension lift :hammerhead:



.....maybe i should take outside advice this time :laugh:

John, anything for sell "outside of town"?

[bcg]

You are comparing individual stocks to funds. I would advise any long term investor to stay away from individual stocks unless they are getting matching purchases from the company they are employed by or started the stock themselves like Bill Gates and Microsoft.

99% of investors cannot remove the emotional aspect of individual stock purchases. Stick with index funds and keep your bond portion at the same age you are. If you are 25 you should be in 25% bonds the rest split between the SP500 and the NASDAQ indexes. Stay away from management fees.
just my 2 cents. If you have Mad Money then have some fun I guess. Wouldn't use my IRAs as Mad Money though.

I had some index funds back in 2000 right before the .com bubble burst, along with some individual stocks. I was doing IT at the time, actually working a contract for a .com in SF, and did what I was always told, I boght what I knew, which meant a lot of technology company stocks and Nasdaq index funds. That was when the Nasdaq was @ 5,000. I lost my ass on those (yes I sold them so it was a real loss) and the Nasdaq only @ 2,200 so, even if I'd kept them, I'd still be toast on them.

Back in March when everything was getting hammered, I made some individual stock purchases. I bought Ford because they were healthy and taking a hit due to bad publicity for US auto makers in general. I bought some GE because they stood to make a ton of money off the Obama green initiatives and because they were WAY undervalued in the market place. Bought some BoA for the same reason as Ford and bought some Citi just because it was trading so low, that one was really the only one I felt was risky. All told, I invested about $1,000 and it's worth about $2,500 right now. I'm just letting it sit, I think Ford is going to be at $30 again before too long and GE and BoA aren't going anywhere. Citi goes up and down, we'll see what happens with them.

I'm not a huge fan of funds just because of the fees most of them have. Index funds are usually lower fee funds but they aren't anymore foolproof than individual stocks really, as long as you're properly diversified. The Nasdaq has proven that by still being valued at less than 1/2 what it was 9 years ago. Even dollar cost averaging would have taken a LONG time to save me on those purchases.

[RhettMan]

hoping land deal closes in next 2 weeks

i just want to "flip land" this time around....

in and out in 3 years

heres my idea for living quarters....cant appreciate the great until you've had the good....

and you cant appreciate the good until youve have the okay...

and you...lol..this will be fine :weightlifter: I can do it!

[Wet_Boots]

does it come with a tornado cellar

[RhettMan]

does it come with a tornado cellar

We dont have tornados in texas.......just pretty women...

And this house comes with nothing that can prevent the destruction from them.....except maybe appearing too small/humble.....

[RhettMan]

take that back :)

[EagleLandscape]

We dont have tornados in texas.......just pretty women...

And this house comes with nothing that can prevent the destruction from them.....except maybe appearing too small/humble.....

dude, we get tornadoes like freaking Dorothy and toto style up here in dallas...:)

[RhettMan]

i know, I heard "texas tornado" on the radio today and I was thinking of how bad I need to just be quiet :laugh:

[RhettMan]

purple cow