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| [GMCnet] Thinking of selling my two RVs [message #164546 is a reply to message #164545] |
Thu, 29 March 2012 03:06   |
Robin Hood
Messages: 1078
Registered: April 2011
Karma:
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Senior Member |
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I agree... Cost benefit analysis says that 6k if that is not worth The
Awesome that is surely to follow as I fix them up and do things with them..
I have to at least consider it.
The land isn't good for anything but a trailer or country home. Timber
priced are so low that it's not worth cutting my scraggly volunteer pine.
If they were nice I could rent them out for the weekend. I could turn the
Bean into a food truck concession stand and work the flea markets, but that
takes investment and the profits are low.
What I need are just a few good personal injury cases, or a LOT of
uncontested divorces that I can do on my two off days per month. Thing is,
I've never worked a personal injury case. The field of law that I'm an
expert in (Veterans Compensation) is the one I can't practice. I can't
represent a client against the Govt even on my off time. That's jailable.
I'm working all the overtime they'll let me.
I'm one of the lucky ones. I got a great federal job with good benefits and
a career track in October 2008 when the economy tanked. A portion of my
loans will be forgiven in seven years or so (faster if the new bill doesn't
die in committee and gets passed by our do nothing Congress). There's
lawyers waiting tables and delivering pizzas, it is murder out there.
With luck, the Boomers above me will retire in a few years and I can move
up into the higher GS levels. I'm bucking for a transfer to DC, but so far
no luck. I had a typo on my last resume (mortifying). Making a few thousand
a year more would be a big help.
(I'm so stressed over this I typed all that on my iPhone at 3AM).
On Thursday, March 29, 2012, Larry Davick wrote:
> Robin,
>
> Of course you realize who your asking...
>
> Still, the Motorhomes are a luxury. They will not appreciate beyond what
> you will invest in them over time. The process of fixing them, and then
> the travels you'll take in them will prove to be more valuable than a few
> thousand dollars, to my way of thinking. But you must consider all options.
>
> Have you considered what your earning potential might be in a few years?
> Newly out of school with a pile of debt it's tough to see the forrest for
> the trees. Too bad you couldn't take a night course and defer that debt a
> while longer. Still, with an improving economy and your abundance of charm
> you'll certainly go far. (I didn't say sense, I said charm. You have 2
> GMC's...)
>
> <off topic rant> It's a crying shame that our education system saddles new
> grads with this kind of burden. California of my childhood had the finest
> schools and universities in the country, and the cost was very reasonable.
> Not today. <end off topic rant>
>
> Have you looked at refinancing the debt at a lower interest rate to cut
> the bank's share? Could you rent those acres and get cash while keeping
> the asset? Real estate is still depressed. Park the Motorhomes on the
> land and save $600 a year - it's almost a mortgage payment.
>
> Reducing your debt is a very good thing to do. So is increasing your
> income. Do you have a sickly rich uncle to cozy up to? Any prospects
> for a grand idea whose patent will earn you a quick 6 figures? Get to know
> the local ambulance drivers (sorry - bad lawyer joke.)
>
> The stories of your two coaches touched many of us here. I'd hate to see
> you sell those rigs, but even if you must I have a feeling you'd be back
> when times get fat. Frankly I think $3k apiece for sitting coaches is too
> high today.
>
> I've clearly got no answers but I wish you the best of luck finding them.
>
> Larry Davick
> Sent from my iPad
>
> On Mar 28, 2012, at 10:50 PM, Robin Hood <loxley@gmail.com> wrote:
>
> > Heres the thing... I'm in debt due to student loans to the tune of 140k,
> > plus the wife's 20k.
> >
> > Payments on those are 900 per month. That's more than our mortgage of
> 800.
> >
> > I'm doing the Dave Ramsey thing, trying to snowball my way out of debt. I
> > make too much money to be this broke.
> >
> > I have about six acres of land that would bring about 21k that I am
> trying
> > to sell. To put towards the loans.
> >
> > We've got about 800 dollars of slack in our monthly budget. I am
> > considering dropping cable, Internet, phone plans, and everything elsi I
> > can think of which would give us more money to dig out with.
> >
> > My thinking is that I can sell both coaches for 3k each? Is that
> realistic?
> > Yall have seen the videos. Someone with more money than sense could
> > drive/flatbed them to JimB's and have them totally redone.
> >
> > On the other hand, it's only six grand, which won't help that much and
> > selling is such a hassle.. I could keep them stored, both for 50$ a month
> > until I get these loans paid off... Which will probably be 5 years or so
> > without selling the land. They'll be waiting and I will have a mighty
> Money
> > Gun, instead of the pea shooter I have now. All that effort to move the
> > queen was motivated by avoiding another 50$ storage fee.
> >
> > What thinketh my much older and wiser folks?
> >
> >
> > --
> > Robin Hood
> > Jackson, MS
> > 2003 Buick Lesabre
> > 1968 Pontiac Catalina
> > 1978 GMC Royale motorhome
> > 1977 GMC Palm Beach
> _______________________________________________
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>
--
Robin Hood
Jackson, MS
2003 Buick Lesabre
1968 Pontiac Catalina
1978 GMC Royale motorhome
1977 GMC Palm Beach motorhome
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