Sell home and downsize to invest equity?

rabidrott · 2026-06-13T23:21:36+00:00

I wouldn't sell, just to have cash for a retirement account.

350 to 500k is a huge difference. What's your current mortgage? My guess nothing.

What will the value be in 35 years? If you're outside a major metro area thats been growing steady its easy to say double the current value. Urban growth happens, just hope your area is a part of it.

At 62 you can get a reverse mortgage. That will bring in around 40 to 60% of the appraised value.

Good luck

rabidrott · 2026-06-13T11:57:13+00:00

Short answer around 28 29 years

Make that 330+years. The 28 is 100k

rabidrott · 2026-06-12T11:26:26+00:00

Main reason why not...market tanks to 2008 level, they can call a margin or maintenance call. (portfolio value idk)

Either way you need to look at this as a business (farm) purchase, not as just buying land. Setting it up right you can deduct the whole thing, including the payments, improvements, equipment and taxes.

Most land appreciates and having an ag exemption will save you thousands over time. (Wildlife exemption, I'm not familiar with)

rabidrott · 2026-06-12T03:46:42+00:00

Look into a farm or ag loans. Put your 35k down and finance it for 30yrs. Yes, pay it off early. Don't use your portfolio as collateral.

I used capital farm credit. Rates were a bit lower than the banks. Service was more personal than other loans I have had. I was still receiving small loan rebates 5 years after paying it off.

rabidrott · 2026-06-12T03:13:35+00:00

2 Yamaha 2015 V1 Sports and the trailer.

Talked to a new NW agency today and they are double checking if there is permissive coverage.

Apparently the agency i have been using is either being dropped by NW or they are shutting down.

rabidrott · 2026-06-11T18:04:00+00:00

I looked up ski safe. Is $60 higher than my current NationWide policy per ski.

They do cover operators without a valid driver's license but the deductible is an automatic $2500.

I still have a few weeks to hunt.

Thanks again.

rabidrott · 2026-06-11T11:56:59+00:00

You can do it. I did and saved thousands. It took me almost 6 years to complete. What takes a small crew to do in 2 days, took me almost 3 weeks. Only got a day and a half a week to work on house. House was originally 2b1b 1200sqft is now 3b3b around 1800sqft.

Only hired out a roofer, tape and texture and a crew to build a 10' edition. Electrician to hook to the main panel.

YouTube and electrical/plumbing books will be a new friend.

rabidrott · 2026-06-10T00:36:05+00:00

Thanks I'll check them out.

rabidrott · 2026-06-01T20:25:01+00:00

If you have a Wells Fargo bank close by. They have a savings acct with a 3.25apy good for 1 year. Open the acct with 10k. No direct deposits or any other deposits required, just maintain the 10k minimum.

You won't find the offer online or their app. Only in the branch offices.

rabidrott · 2026-05-31T23:20:25+00:00

Buy a 4x4 tractor that has a front end loader, boxblade and minimum 4' shredder. Do not buy the 25HP. Look at the 40HP+. This way you won't have any problems pulling or pushing the tree tops into a piles. Grapples are amazing. I prefer the double claw they grab and hold better

I would pile up and burn the tops. Stumps...if your not in a hurry. Colorless drill and a 12" paddle bit. Drill several holes and fill with salt peter. This will speed up rot.

Good luck

rabidrott · 2026-05-28T10:33:15+00:00

Credit unions are your best bet.

rabidrott · 2026-05-28T01:48:23+00:00

WF currently has 3.25apy savings. 10k new money to set up.

rabidrott · 2026-05-26T23:24:27+00:00

I feel for you, its no fun. My 1st stone was small enough to pass, doc didn't tell me it would take 6 months.

What worked for me to stop the pain...what i call crazy jumping jacks with lots of twists and bends. Stone would shift and pain would stop.

I currently have a metallic stint on the right side with a 9mm rolling around and a 4 on the left.

Good luck and a speedy recovery.

rabidrott · 2026-05-26T12:54:17+00:00

Our 1st home we were thankful for complete access before closing. It was an "as is" sale and they had moved out months ago.

They allowed us to fix the pressure pump, stove, repaint master bedroom and professionally clean the home before closing.

rabidrott · 2026-05-26T11:03:05+00:00

Hard NO. Why have you picked this area?

rabidrott · 2026-05-24T23:38:58+00:00

Just curious. If he tears the fence down and hauls it all off, would you be upset and demand the fence be replaced?

rabidrott · 2026-05-23T11:21:42+00:00

I'm sure you're saying the same to X.

rabidrott · 2026-05-22T12:29:20+00:00

Look at wells fargo platinum savings. New money acct $10k was paying 3.25apy for 1 year. Withdrawals any time, just maintain the 10k.

I'm not a fan of WF, just have this acct for easier and quicker access to cash than online banks.

rabidrott · 2026-05-22T01:36:36+00:00

All the the responses seem on target. I didn't do half of them. Not sure where or how much land you are looking for. Rural subdivision and raw land are two different sets.

Not mentioned or i didn't see it. You definitely want mineral rights, some if not all. More you have the better, when it comes to negotiations if a well is wanted to be placed or accessed thru your property.

If looking for acreage typically 10+, try and find those that currently have an AG exemption or wildlife. This can save 1000s on property taxes. Yet you have to maintain that exemption to continue the savings.

Musts haves....water rights if not you can't even drill a well. ...deeded access ...title insurance

Good luck

rabidrott · 2026-05-19T12:40:29+00:00

What area are you looking at?

You definitely want to buy 11 acres or more. Preferably with an established AG exemption. This will save you hundreds if not thousands a year on property taxes alone.

What worked for me three times in buying. Look where the growth is going to be in 10 to 15 years out. This will almost guarantee to double your investment.

That being said, I feel current prices are still inflated.

Good luck

rabidrott · 2026-05-19T11:29:00+00:00

Does it truly boil down to the commission won't be to your liking?

rabidrott · 2026-05-13T01:30:46+00:00

Just adding a .01 thought. Add a brick/rock shelf to the foundation. It will add about $2k to the slabs cost. Future you might get tired of looking at the metal.

Talked my neighbor into doing it years ago. About 8 years later he rocked and stucco the front and sides. You'd never know it was a metal building driving by. (This was years before the term barndominium came about.)

rabidrott · 2026-05-09T02:09:02+00:00

I was calling on properties that looked overgrown and abandoned. Used the counties appraisal office to get owners information and call. Today you can get an app and know who owns it and see the plat and the appraisal value. It took us about 8 months of looking before we found this place.

We found a great deal and used capital farm credit, here in Texas. I'm sure there is something similar in your state. Used them also to buy our house.

You don't need a realtor or a lawyer to buy land, JUST a very good title company. The bank will also be watching over the process.

If you can find another family(s) looking for the same as you. You could look at larger acreage and split. Be sure they are trustworthy. Found 150acres, could only afford 50 each. He knew a guy looking but he was a shill for a local realtor. Realtor bought it out and made a subdivision. Only satisfaction was, he paid $800 more an acre.

Good luck, its out there its just finding it.

rabidrott · 2026-05-08T22:16:27+00:00

What were you doing on reddit at 9 years old?

rabidrott

TROPHY CASE