Broke for the next 30 years - and loving it!

RevSmoke · 09-04-2010, 08:28 AM

Good morning friends.

Life will be changing for the Jerabek household for a while. Saturdays will be busy and finances a whole lot tighter. I thought you'd like to know why (maybe you don't). It will affect things here - whether I'll ever get to a MOB herf (will have to miss the September one because of all this), how many cigars I buy in the future, etc...

For 25 years I've been married. For the first eight year we rented. Then, since becoming a pastor, we have lived in parsonages - church owned homes. Pastors in the LCMS don't get rich, but they're able to take care of their families. When they live in a parsonage, as the church provides a home and pays for utilities, the pastor's salary is commensurately lower.

Since we don't have our own home and the idea of where will live when we retire has nagged at us as we approach that magical number of 5-0. So, we've been looking for a way to build up some equity (and possibly get some land in order to take my boys hunting). So, we've been looking for some property for the last 4 years or so. Last November it really hit home that we need something of our own when on opening day of deer season we arrived at the place were I thought we were allowed to hunt and the owner comes up to tell us, "I said you could hunt bow season, but not gun." Not his fault, I simply misheard him when he gave me permission.

After much searching for the last few years and a little Divine guidance and help, we found a piece of property on which we're closing this next week.

It 80 acres of partially wooded property with an 1970s mobile home and a 34X58 pole barn/shed (I can store the pop-up in it and save the winter storage fees), and all this for less than $78k. Yes, that's less than $1000 an acer. There is also well, septic, electric, all on the property already. While the mobile home isn't anyplace we'd move into to live, it will work for deer camp and as a get away shack till we're rich enough to put something else up on the property. Oh yeah, a creek runs through the 80 acres as well (yeah, this is a lucky find) and it is about 50% wooded.

Thankfully, we had inherited 15K from a death in the family (which precipitated the search to begin with) so that we had a down payment and closing costs.

So, that means we'll have to tighten belts around here and watch expenses. Thankfully, at present we have no other debt, including no car loans (hopefully the cars we have will last for at least the next 5 or more years), s that helps. But, non-necessary expenditures will be pared back as we need to be able to make monthly payments from a salary that is specifically set with NO mortage or rental payment in mind.

I am a little concerned about that. We cannot have any emergencies for the next 30 years.

Anyway, my next few Saturdays will be spent heading 2+ hours up north to do some work on the mobile home to make it habitable, and to get ourselves situated so the boys can have a successful deer hunt by scouting with deer cams and putting up some deer blinds/stands.

Don't know that it will happen yet, but there is lots of other wild game there that may be hunted in the future. I know there are grouse, rabbits, and other critters there, and am waiting to see, but hopefully turkeys too.

Anyway, I've never been a property owner before, and am seriously nervous about it (too old to be trying new things). Am concerned about how things will go as we have a new and tighter budget. Praying that nothing on that old mobile home goes wrong. Wondering if property ownership is a good idea. But 80 acres for less than $1000 an acre was too good to pass up.

Anyway, if someone ever wants to get away to the north woods of Wisconsin with many lakes around for fishing and with literally thousands of acres of national, state, and county forests within 10 minutes - let me know. I'd be glad to loan the place to those who might be interested in a getaway.

Keep us in your prayers, for this is all new to us - exciting and terrifying at the same time - never been in debt for such an amount before.

Peace of the Lord be with you.

09-04-2010, 08:28 AM	#1
RevSmoke Ain't Never Gonna Leave Join Date: Oct 2008 First Name: Todd Location: Northcentral woods of Wisconsin Posts: 6,844 Trading: (51)	Broke for the next 30 years - and loving it! Good morning friends. Life will be changing for the Jerabek household for a while. Saturdays will be busy and finances a whole lot tighter. I thought you'd like to know why (maybe you don't). It will affect things here - whether I'll ever get to a MOB herf (will have to miss the September one because of all this), how many cigars I buy in the future, etc... For 25 years I've been married. For the first eight year we rented. Then, since becoming a pastor, we have lived in parsonages - church owned homes. Pastors in the LCMS don't get rich, but they're able to take care of their families. When they live in a parsonage, as the church provides a home and pays for utilities, the pastor's salary is commensurately lower. Since we don't have our own home and the idea of where will live when we retire has nagged at us as we approach that magical number of 5-0. So, we've been looking for a way to build up some equity (and possibly get some land in order to take my boys hunting). So, we've been looking for some property for the last 4 years or so. Last November it really hit home that we need something of our own when on opening day of deer season we arrived at the place were I thought we were allowed to hunt and the owner comes up to tell us, "I said you could hunt bow season, but not gun." Not his fault, I simply misheard him when he gave me permission. After much searching for the last few years and a little Divine guidance and help, we found a piece of property on which we're closing this next week. It 80 acres of partially wooded property with an 1970s mobile home and a 34X58 pole barn/shed (I can store the pop-up in it and save the winter storage fees), and all this for less than $78k. Yes, that's less than $1000 an acer. There is also well, septic, electric, all on the property already. While the mobile home isn't anyplace we'd move into to live, it will work for deer camp and as a get away shack till we're rich enough to put something else up on the property. Oh yeah, a creek runs through the 80 acres as well (yeah, this is a lucky find) and it is about 50% wooded. Thankfully, we had inherited 15K from a death in the family (which precipitated the search to begin with) so that we had a down payment and closing costs. So, that means we'll have to tighten belts around here and watch expenses. Thankfully, at present we have no other debt, including no car loans (hopefully the cars we have will last for at least the next 5 or more years), s that helps. But, non-necessary expenditures will be pared back as we need to be able to make monthly payments from a salary that is specifically set with NO mortage or rental payment in mind. I am a little concerned about that. We cannot have any emergencies for the next 30 years. Anyway, my next few Saturdays will be spent heading 2+ hours up north to do some work on the mobile home to make it habitable, and to get ourselves situated so the boys can have a successful deer hunt by scouting with deer cams and putting up some deer blinds/stands. Don't know that it will happen yet, but there is lots of other wild game there that may be hunted in the future. I know there are grouse, rabbits, and other critters there, and am waiting to see, but hopefully turkeys too. Anyway, I've never been a property owner before, and am seriously nervous about it (too old to be trying new things). Am concerned about how things will go as we have a new and tighter budget. Praying that nothing on that old mobile home goes wrong. Wondering if property ownership is a good idea. But 80 acres for less than $1000 an acre was too good to pass up. Anyway, if someone ever wants to get away to the north woods of Wisconsin with many lakes around for fishing and with literally thousands of acres of national, state, and county forests within 10 minutes - let me know. I'd be glad to loan the place to those who might be interested in a getaway. Keep us in your prayers, for this is all new to us - exciting and terrifying at the same time - never been in debt for such an amount before. Peace of the Lord be with you. __________________ Todd__ "Smoke what you like, and enjoy it!"