All Forum Posts by: Wayne Yates

@Rob Hunt my parents have land that I can use for the RV, and they have homes on both. So I have access to washer/dryers, an extra bathroom, etc if I need it.

@Michael P. my mind isn't 100% made up, I'd way rather prefer the comfort of a nice house with my bedroom, an office, and a gym. RV will be a hard decision, but at the end of the day, I know it's financially the smarter one. I've been driving an hour for work since 15 (worked with my dad and rode with him to begin with) and it hasn't been horrible. I have my times where I hate it but others when caffeine saves me and listening to a good audiobook helps. As far as I'm concerned, this job is just a stepping stone into me starting a business, so I can't get myself to move closer to it.

I have a bad interest rate. 9%. So you think I should throw a lot of money at my car and pay cash for an RV? I have $10,000, which is about how much a nicer one is. I'd hate to completely drain my account to pay cash for the RV, then still owe on the car. My plan was to find an RV for around $10,000, finance half. Have a super low monthly payment on that. Pay off my car ASAP. Then pay off the RV asap. Just so I always have a good $5,000 range safety net. Maybe this is a bad idea though, how do you feel?

@Devon Tronrud I'm planning on doing that in a year, I can't finance just yet because my credit and my job. I'm a contractor so it's harder to finance, especially just going so long without work. I'm going to do what you're saying a year from now, just unsure if I should rent a normal home and enjoy myself or buy an RV and make the sacrifice so I can save a lot of money in the next year.

@Michael Bracken no, I wouldn't get tired driving an hour to work. The hour drive is inevitable whether I rent or buy an RV. I'd actually prefer it because I listen to audiobooks and it wakes me up before my day begins. I'm pretty sure RV's hold their value decently well and I would take great care of it, I'm just thinking it wouldn't be the easiest thing to sell.

@Jean Bolger I was told the other day that I have a mindset far beyond my age and it was the best compliment I'd ever received, so your compliment means a lot to me! And I'm checking it out now

@Patrick Liska I currently have too much work going on. I know that sounds cliche, but I literally only have 2 hours of free time during my work days, and I spend about an hour and a half of that showering and cooking lunch for work. I wake up at noon (night shift) and get home at 3am. Wake up at 11am. After I have a hefty savings though I'll probably do something like you're talking about. The money with my current job is great but it has no future in it. I'd like to do some sort of managing or sales job in the future to help with my business endeavors. Really solid advice Patrick thank you, I always considered a real estate agent but never a property manager!

@Seth Hobbs I appreciate the input bud, the only reason I ended up financing a car was because I drive about 3k miles a month for work. It's in a major city and I'm a little too country to make the move and being around that many people 24/7. I like my seclusion. And I JUST turned 24. I can start a family and all in the future but even if I were renting a super nice family home, I would stay single until I'm financially stable enough from my own business, so I don't plan on anything serious for a while regardless

@Shaun R. that's the EXACT reason why I would want to do it. Just to drastically cut expenses for a year. I can save a lot of money, read a ton of books, continue to build my credit, get my RE license, etc. It's just hard to be 24 years old making almost $5k a month and imagine living in a 30 foot space. I live in an apartment now with super nice furniture (seriously, my couches are electric and my bed is too), a 50 and 60" tv, electronics, etc. It's going to be a little odd to get rid of it all. I think it'll be best though because I'm starting a small side business and can use my room at my parents for work space

@Ralph R. that's insanely interesting, really. You should get with a publisher on it and write a book because I seriously would buy it!

@Account Closed just curious as to if it's a drastic decision or not. Seems kind of logical for me to live in an RV for a year, hoard away money and truly educate myself, get my real estate license (I'm 60% done with my course now), and then have a tangible item I can resell or keep after it's all said and done versus throwing away money in rent. Just wanted some more professional opinions, I'm only 24 and feel like it's better to do this kind of thing young, but would hate to get myself in a predicament. Like the RV not selling, etc. I was gonna see about getting my own land too or if that was too much, etc etc. Just wanted some other views to see past my own is all