# Prepper investing 101 and I did not know it



## RoadRash (Sep 29, 2010)

Ok am I prepper or a realist? Or are they the same!
Well I know I couldnt afford a BOL , but wont be able to survive in the city....
Talked wife into cottage(BOL to me) as a weekly rental, I sold some motorcycles and used a surprise little windfall and presto downpayment. 
So I have an investment property that will help with retirement and if something happens before then I have a BOL granted it is a weekly rental so I will be changing contract a bit. 
This would not have been possible unless I prepped.
So by prepping it is helping 2 fold and peice of mind..........:flower:
Hey Naekid heres a Cold cheer out to you ..:beercheer::beercheer:


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## invision (Aug 14, 2012)

roadrash said:


> Ok am I prepper or a realist? Or are they the same!
> Well I know I couldnt afford a BOL , but wont be able to survive in the city....
> Talked wife into cottage(BOL to me) as a weekly rental, I sold some motorcycles and used a surprise little windfall and presto downpayment.
> So I have an investment property that will help with retirement and if something happens before then I have a BOL granted it is a weekly rental so I will be changing contract a bit.
> ...


Congrats! Do you have landlord experience? If not PM me i will give you some tips.


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## BadgerPeak (Sep 25, 2012)

Nice work, roadrash!

The best preparations benefit you in normal times and in SHTF type scenarios.


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## LincTex (Apr 1, 2011)

invision said:


> Do you have landlord experience? If not PM me I will give you some tips.


I think I could use some tips... As soon as we get another $5k paid off on our house we are going to look into buying another to use as a rental property.


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## invision (Aug 14, 2012)

LincTex said:


> I think I could use some tips... As soon as we get another $5k paid off on our house we are going to look into buying another to use as a rental property.


Rental property can make you money, my dad had over a 100 units in his prime, at 73 he still has more than a dozen and half a dozen on land contracts... Any questions PM and I will try to give some advice....


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## sailaway (Mar 12, 2009)

I do rentals also, 6 unit in Oh, and a 16 unit in Fl. No house, I live on my boat as much as possible. Turning an office space into a studio apt. for security chief & myself.

I heard Obama's health care plan will be funded with a 3-1/2% tax on you home when you sell it. lol see if I ever buy another home.lol I prefer boat living.


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## RoadRash (Sep 29, 2010)

Always wanted to live on a boat , here in CAnada I will have to waite for the polar shift to move me to warmer waters...........


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## LincTex (Apr 1, 2011)

sailaway said:


> I heard Obama's health care plan will be funded with a 3-1/2% tax on you home when you sell it.


If allowed to go into effect, that will slaughter home values.


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## invision (Aug 14, 2012)

LincTex said:


> If allowed to go into effect, that will slaughter home values.


Yeah it will... What a Fubar situation America has gotten into...


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## biobacon (Aug 20, 2012)

Well I got 10% credit when I bought mine so Im cool with 3.5% tax when I sell it. I do see how this sure stinks for a lot of you guys out there. I dont think its true but if it is it just goes to show you timing is everything. I got my contract done just in time to get the credit, another couple days it would have been down the drain. Of course i ended up having to buy a new furnace 5 months after I bought the house, so a quick call to First National Bank of Parents for a loan and then a couple months after that there goes more then a little bit of that 10%. Yep timing is everything.


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## invision (Aug 14, 2012)

biobacon said:


> Well I got 10% credit when I bought mine so Im cool with 3.5% tax when I sell it. I do see how this sure stinks for a lot of you guys out there. I dont think its true but if it is it just goes to show you timing is everything. I got my contract done just in time to get the credit, another couple days it would have been down the drain. Of course i ended up having to buy a new furnace 5 months after I bought the house, so a quick call to First National Bank of Parents for a loan and then a couple months after that there goes more then a little bit of that 10%. Yep timing is everything.


Sounds like first home purchase? The 10%?

Your forgetting, you are also going to lose a good percent to the real estate agent when you sell. So, now instead of 6% out the door, your looking at 9.5% of sell value out the door.. If you have a $500,000 house that's a great big chunk of equity - almost $50,000!


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## Cabowabo (Nov 6, 2012)

Before we start speculating on what Nobama may or may not do. Can we get the source for the 3.5% tax obama wants to create?


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## jsriley5 (Sep 22, 2012)

RoadRash said:


> Always wanted to live on a boat , here in CAnada I will have to waite for the polar shift to move me to warmer waters...........


Nah you can still live on a boat just have to haul it in and dry dock it. You can tell everyone you are prepping for another flood


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