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Post by youngjasper on Jul 13, 2021 1:47:26 GMT
Problem in TX are the property taxes. Every year you must pay them like a lease with the state. Ag exemption helps a lot but tough to get unless clearly ag land.
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Post by Sigurdur on Jul 13, 2021 2:18:17 GMT
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Post by Sigurdur on Jul 13, 2021 2:18:50 GMT
Let me know if you can't read the above link.
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Post by missouriboy on Jul 13, 2021 3:13:26 GMT
OK. I've always had soft spots for two types of wealth (other than cash and commodities): real property and precious metals. Neither are meant to be turned over very fast, but are rock solid. The first has annual carry costs and can be lived on or in. The second just sits there ... but what a stare.  Carry NO debt unless it is producing an income stream.That is good advice. And be pretty certain that it will before you sign your name. The other thing I try to get across to the boy is own "free and clear". I haven't had a house payment since 1989. Buy small in the "right spot" and turn it over into more space in a cheaper geographic area. Of course there is always property taxes and maintenance, but the difference is more annually than a lot of people make ... and many of those people will always rent. And rent is not getting cheaper. Took me 13 years to get a good job in the town where I bought the house, but then I had few expenses. And for a tech-savy young man in an internet driven world (at least until Father Sun takes down our power grid) there is no need to live in a large city. |
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Post by nonentropic on Jul 13, 2021 5:53:13 GMT
Been thinking about what to do with cash lately.
If you owe banks a lot of money that yields a return of say 6% and your fixed for 3 years at 3.5% we know this will all fly to pieces soon at which point the only way out for every Govt. is inflation.
Where is the risk outside of the yield, the upside is a falling in real terms mortgage.
I am buying an oilfield with friends currently is that a mad thing to do?? Its a producing asset is this an assets with a long term outlook???
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Post by missouriboy on Jul 13, 2021 18:04:27 GMT
Been thinking about what to do with cash lately. If you owe banks a lot of money that yields a return of say 6% and your fixed for 3 years at 3.5% we know this will all fly to pieces soon at which point the only way out for every Govt. is inflation. Where is the risk outside of the yield, the upside is a falling in real terms mortgage. I am buying an oilfield with friends currently is that a mad thing to do?? Its a producing asset is this an assets with a long term outlook??? Perhaps I am misjudging common sense. But I can't help but believe that when the "common folk" get a real feel for what NO carbon energy means in terms of COLD and other discomforts, there are going to be a lot of radical greenies burning in the fireplace ... while their not-so-stupid politicians scramble to restore services. But it IS possible that a significant portion of our population are too far gone to save. At that point, the only sensible thing to do is send most of them off on a far distant crusade from which they won't return. Me thinks that, in the end, cold, hungery people are going to buy your oil ... although there may be fewer of them. |
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Post by glennkoks on Jul 13, 2021 19:18:59 GMT
It is clear that governments around the world are trying to inflate their way out this mess. The problem with inflation is can be hard to control once it gets going. Paul Volcker broke the back of inflation during the Reagan administration by raising rates and suffering through several tough years. The problem is this medicine will not work because of our addiction to deficit spending. Raising rates will simply increase the cost for our government to borrow money and we already can't afford the cost of servicing our multi trillion dollar debt. New numbers just out indicate the highest rise in the CPI since at least 2008.
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Post by youngjasper on Jul 13, 2021 19:57:52 GMT
Been thinking about what to do with cash lately. If you owe banks a lot of money that yields a return of say 6% and your fixed for 3 years at 3.5% we know this will all fly to pieces soon at which point the only way out for every Govt. is inflation. Where is the risk outside of the yield, the upside is a falling in real terms mortgage. I am buying an oilfield with friends currently is that a mad thing to do?? Its a producing asset is this an assets with a long term outlook??? I view oil as an inflation hedge. So far this year, that is certainly what it looks like. |
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Post by missouriboy on Jul 13, 2021 23:56:56 GMT
Let me know if you can't read the above link. I'm a deadbeat. They don't like me. |
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Post by Sigurdur on Jul 14, 2021 3:22:07 GMT
Let me know if you can't read the above link. I'm a deadbeat. They don't like me. Ok. I will potentially plager it. |
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Post by walnut on Jul 14, 2021 5:45:32 GMT
Moboy I was close to your area today. Bought a boat at Lake of the Ozarks. Pretty lake, way developed, big waves from numerous fat cat boats. Hard to test drive a boat there.
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Post by nonentropic on Jul 14, 2021 6:03:16 GMT
Walnut the boat test on glassy water is worthless.
A boat is defined by how it goes in the hard stuff you will be pleased with the waves in the long run.
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Post by missouriboy on Jul 14, 2021 13:01:38 GMT
Moboy I was close to your area today. Bought a boat at Lake of the Ozarks. Pretty lake, way developed, big waves from numerous fat cat boats. Hard to test drive a boat there. Been built up for a long time now. What Non said.  |
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Post by walnut on Jul 14, 2021 14:16:12 GMT
Walnut the boat test on glassy water is worthless. A boat is defined by how it goes in the hard stuff you will be pleased with the waves in the long run. That's right, but it's an inboard and I wanted to see if the motor could maintain WOT for a period of time. That would have been suicidal. That configuration should be able to hit a certain top speed approximately.
We have our own version of that lake but not even Grand lake is built up or crowded like Lake of the Ozarks is. The two lakes are not really that far apart.
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Post by code on Jul 19, 2021 14:36:24 GMT
Been thinking about what to do with cash lately. If you owe banks a lot of money that yields a return of say 6% and your fixed for 3 years at 3.5% we know this will all fly to pieces soon at which point the only way out for every Govt. is inflation. Where is the risk outside of the yield, the upside is a falling in real terms mortgage. I am buying an oilfield with friends currently is that a mad thing to do?? Its a producing asset is this an assets with a long term outlook???
"Been thinking about what to do with cash lately."
So have I, so have I.
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Carry NO debt unless it is producing an income stream.
