Reply
Go Back   TexasBowhunter.com Community Discussion Forums > Topics > Around the Campfire
 
Thread Tools Display Modes
Old 05-22-2019, 07:58 AM   #1
solocam_aggie
Pope & Young
 
solocam_aggie's Avatar
 
Join Date: Oct 2012
Location: Bastrop
Hunt In: Bastrop
Default A hypothetical for you

My uncle and I were having a conversation this weekend about finances. The ol what would you do with $X amount of money thing. A scenario discussed got me thinking really hard about what I would do given the situation we were discussing.

Say you had a few hundred thousand dropped in your lap. 200-300k. Would you use that to purchase or provide a big down payment on your dream property? A property that has certain characteristics that set it apart from most others. Or would you put that money towards starting a business? Say a business you felt pretty confident in.

Purely hypothetical for me, but the situation is real as I really want to start a business, but know of a property owner that would be a willing seller in what I consider to be the best possible area.
solocam_aggie is online now   Reply With Quote Back To The Top
Old 05-22-2019, 08:01 AM   #2
Tyrex750
Four Point
 
Join Date: Dec 2016
Location: Pasadena
Hunt In: Hardin co.
Default

Buy a nice piece of property with a nice small house and put the rest up
Tyrex750 is offline   Reply With Quote Back To The Top
Old 05-22-2019, 08:03 AM   #3
12RingKing
Pope & Young
 
12RingKing's Avatar
 
Join Date: Sep 2009
Location: Lake Jackson
Hunt In: The Grocery Store...
Default

I would buy rentals or invest in some type of income growth fund.

Mailbox money each month
12RingKing is offline   Reply With Quote Back To The Top
Old 05-22-2019, 08:06 AM   #4
AntlerCollector
Pope & Young
 
AntlerCollector's Avatar
 
Join Date: Apr 2014
Hunt In: Votaw, Hardin/Polk Co., TX. Bon Weir, Newton Co., El Dorado, Schleicher Co., TX.
Default

If you're happy with what you're already doing for a career then buy the property. If you have an idea for a business that will make you much more money then go that route. In my situation, I'd spend it on property
AntlerCollector is online now   Reply With Quote Back To The Top
Old 05-22-2019, 08:10 AM   #5
mjbtexas
Ten Point
 
mjbtexas's Avatar
 
Join Date: Jan 2011
Location: Central Texas
Hunt In: Texas, Nebraska, Missouri
Default

Depends on your competency. What do you really know and master, and does that topic have value?

I know a lot about land but not enough to flip, but do know house construction. I’d have to really focus on a small area of a market and master it to really do something with that money.

Or buy fertile land with good hunting, homestead it. Earn enough somehow to pay for taxes and gas


So many public land hunting opportunities and leasing, I’d put it in rentals or residual income. If your competency is as an operator (you make things run really well) you could buy an insurance branch and make it run better.

I’ve asked myself this question a lot, and it comes down to are you worth that kind of money. Faithful in little, faithful in much.
mjbtexas is offline   Reply With Quote Back To The Top
Old 05-22-2019, 08:16 AM   #6
TxAg
Pope & Young
 
TxAg's Avatar
 
Join Date: Feb 2007
Location: DFW
Default

Invest it and retire that much earlier
TxAg is offline   Reply With Quote Back To The Top
Old 05-22-2019, 08:20 AM   #7
ctom87
Eight Point
 
ctom87's Avatar
 
Join Date: Oct 2018
Location: Fort Worth
Hunt In: Nolan County
Default

Quote:
Originally Posted by TxAg View Post
Invest it and retire that much earlier
What he said.

Make your money work for you so you don't have to work for your money. - Yogi Berra
ctom87 is offline   Reply With Quote Back To The Top
Old 05-22-2019, 08:22 AM   #8
150class
Pope & Young
 
150class's Avatar
 
Join Date: Oct 2008
Location: The Woodlands
Hunt In: Uvalde, Boerne
Default

200-300k?

Pay off the cars and then invest the rest and continue on chugging along. Might be a new gun or two also.
150class is online now   Reply With Quote Back To The Top
Old 05-22-2019, 08:25 AM   #9
WItoTX
Ten Point
 
WItoTX's Avatar
 
Join Date: Jun 2016
Location: Katy
Hunt In: Wisconsin, New Mexico, Colorado, Montana
Default

If my choice is buy property or start a business, I would pick buy a property. However, I personally have other things much higher on my list than those two things that I would pick over those.
WItoTX is offline   Reply With Quote Back To The Top
Old 05-22-2019, 08:28 AM   #10
Low Fence
Pope & Young
 
Low Fence's Avatar
 
Join Date: Aug 2008
Location: Quitman, Tx.
Default

Invest in smaller properties to flip and continue until I could buy the property I wanted
Low Fence is online now   Reply With Quote Back To The Top
Old 05-22-2019, 08:31 AM   #11
LMiz
Ten Point
 
LMiz's Avatar
 
Join Date: Aug 2010
Location: Dallas
Hunt In: Huntsville
Default

Get the money on Friday. I would buy myself a nice shotgun then make offers on a few rent houses over the weekend. Then when all that is done I will be at work on Monday because $300k won't last very long.
LMiz is offline   Reply With Quote Back To The Top
Old 05-22-2019, 08:34 AM   #12
TX03RUBI
Ten Point
 
TX03RUBI's Avatar
 
Join Date: Mar 2017
Location: Lubbock
Hunt In: Hall County
Default

Out here in West Texas $300K can go a long ways with myself doing the work. I’d build a place on 10 acres while still living in my current house. Once finished turn around and sell the current house and reinvest it in a couple of cheaper rentals near campus.
TX03RUBI is offline   Reply With Quote Back To The Top
Old 05-22-2019, 08:39 AM   #13
westtexducks
Pope & Young
 
westtexducks's Avatar
 
Join Date: Jan 2012
Location: San Angelo, TX
Hunt In: Where ever I can.
Default

Clean up all debts in my name, clean up all debts in current businesses name and then invest the remainder into continuing to grow the current business. The bigger I can get the business while still working an 8-5 the quicker we can get a massive place and the sooner I get to retire.

Sent from my Moto Z (2) using Tapatalk
westtexducks is offline   Reply With Quote Back To The Top
Old 05-22-2019, 09:03 AM   #14
solocam_aggie
Pope & Young
 
solocam_aggie's Avatar
 
Join Date: Oct 2012
Location: Bastrop
Hunt In: Bastrop
Default

Quote:
Originally Posted by WItoTX View Post
If my choice is buy property or start a business, I would pick buy a property. However, I personally have other things much higher on my list than those two things that I would pick over those.
Thanks for following along! Everyone's situation is different; Im just curious about the these two options.

I tend to lean the same direction towards property.
solocam_aggie is online now   Reply With Quote Back To The Top
Old 05-22-2019, 09:26 AM   #15
Chad_E
Ten Point
 
Chad_E's Avatar
 
Join Date: Sep 2007
Location: La Grange
Hunt In: Colorado Co.
Default

For me it would be to invest in the company I'm already a partner in. It has a higher ROI than property.
Chad_E is offline   Reply With Quote Back To The Top
Old 05-22-2019, 09:29 AM   #16
Crazy Horse
Pope & Young
 
Crazy Horse's Avatar
 
Join Date: Feb 2011
Hunt In: Lavaca County
Default

Quote:
Originally Posted by WItoTX View Post
If my choice is buy property or start a business, I would pick buy a property. However, I personally have other things much higher on my list than those two things that I would pick over those.
agree
Crazy Horse is offline   Reply With Quote Back To The Top
Old 05-22-2019, 09:34 AM   #17
Terry
Ten Point
 
Terry's Avatar
 
Join Date: Oct 2006
Location: Salado, Texas
Default

At my age, property.
Terry is offline   Reply With Quote Back To The Top
Old 05-22-2019, 09:41 AM   #18
Throwin Darts
Pope & Young
 
Throwin Darts's Avatar
 
Join Date: Feb 2007
Location: Aledo
Default

I sold off some investment properties. I finally had enough to buy my dream place or to reinvest it in more real estate or stocks. Much like the situation you described.

I chose to buy the property because owning my own place has always been my dream.

Could I have retired earlier? Sure. But I don't hate working as much as I love having my own place.

Would the ROI be higher on investments? Depends on if you're looking at returns on paper or returns on how it feels pulling in your own gate!
Throwin Darts is offline   Reply With Quote Back To The Top
Old 05-22-2019, 09:47 AM   #19
Mayhem
Pope & Young
 
Mayhem's Avatar
 
Join Date: Oct 2006
Location: porter, tx
Hunt In: crockett, county
Default

I would do a few things to the home I currently have that would add value, I would buy a new boat and then invest the remainder.
Mayhem is offline   Reply With Quote Back To The Top
Old 05-22-2019, 09:51 AM   #20
lovemylegacy
Pope & Young
 
lovemylegacy's Avatar
 
Join Date: Oct 2007
Location: Mauriceville
Hunt In: SETx,La,Il,Ks,Mo
Default

$300k....Im retiring, to the lake and make money guide fishing.
.................... ^^^property^^^ ^^^self employed^^^..................

Last edited by lovemylegacy; 05-22-2019 at 09:53 AM.
lovemylegacy is online now   Reply With Quote Back To The Top
Old 05-22-2019, 09:51 AM   #21
AntlerCollector
Pope & Young
 
AntlerCollector's Avatar
 
Join Date: Apr 2014
Hunt In: Votaw, Hardin/Polk Co., TX. Bon Weir, Newton Co., El Dorado, Schleicher Co., TX.
Default

Some of y'all are have trouble grasping the OP's question.
AntlerCollector is online now   Reply With Quote Back To The Top
Old 05-22-2019, 09:56 AM   #22
solocam_aggie
Pope & Young
 
solocam_aggie's Avatar
 
Join Date: Oct 2012
Location: Bastrop
Hunt In: Bastrop
Default

Quote:
Originally Posted by Throwin Darts View Post
I sold off some investment properties. I finally had enough to buy my dream place or to reinvest it in more real estate or stocks. Much like the situation you described.

I chose to buy the property because owning my own place has always been my dream.

Could I have retired earlier? Sure. But I don't hate working as much as I love having my own place.

Would the ROI be higher on investments? Depends on if you're looking at returns on paper or returns on how it feels pulling in your own gate!
This is good.

Quote:
Originally Posted by AntlerCollector View Post
Some of y'all are have trouble grasping the OP's question.
solocam_aggie is online now   Reply With Quote Back To The Top
Old 05-22-2019, 09:59 AM   #23
deerplanter
Ten Point
 
deerplanter's Avatar
 
Join Date: Nov 2007
Location: Beach City
Default

Tithe and start a business but mine would be in real estate so it could go either way.
deerplanter is online now   Reply With Quote Back To The Top
Old 05-22-2019, 10:03 AM   #24
TheHammer
Ten Point
 
TheHammer's Avatar
 
Join Date: Jul 2012
Location: Carthage, TX
Hunt In: Coke Co, Panola Co
Default

I would start a business. I would love to have a large property, but I can get a dang good lease and have access to great properties. It’s a real personal question to me. Just really depends all on what YOU want. I’m perfectly fine with leasing property to hunt.

I’m starting a business or investing the big chunk of cash, but probably holding back 50-100K, just to keep accessible.
TheHammer is offline   Reply With Quote Back To The Top
Old 05-22-2019, 10:13 AM   #25
Merc
Ten Point
 
Merc's Avatar
 
Join Date: May 2013
Location: Anchorage/POC
Hunt In: Vanderpool/Alaska...
Default

My caveat to the OP on the property purchase is, what'll the annual expenses be on that and can you continue to afford it in the long run?

Write out your pros and cons as well as you can on the expenses on each and see where you land. Part of this would be an emotional decision, but it needs to be logical at the same time. I.e. I could buy a big nice ranch now, but I couldn't afford the upkeep, equipment and taxes on it without working so much I couldnt enjoy it.

Sent from somewhere
Merc is offline   Reply With Quote Back To The Top
Old 05-22-2019, 11:59 AM   #26
chongo
Pope & Young
 
chongo's Avatar
 
Join Date: Nov 2006
Location: Melissa
Hunt In: Sutton County
Default

I'm in the process of starting a new business and getting my app/software built. I'd get what is slated for release in version 2 now with the 300k.

I'm a bet on myself kinda guy. If you want to start a business and believe you can be successful (not just a pipe dream) then bet on yourself, make a butt load more than 300k and buy a bigger chunk of land.
chongo is online now   Reply With Quote Back To The Top
Old 05-22-2019, 12:10 PM   #27
Dirtymike
Pope & Young
 
Dirtymike's Avatar
 
Join Date: Aug 2009
Hunt In: granger, victoria
Default

easy, cocaine and hookers. Never tried either.
Dirtymike is offline   Reply With Quote Back To The Top
Old 05-22-2019, 12:25 PM   #28
grizzman
Pope & Young
 
grizzman's Avatar
 
Join Date: May 2010
Location: Frisco
Hunt In: Texas and Arkansas
Default

Quote:
Originally Posted by TxAg View Post
Invest it and retire that much earlier
This
grizzman is offline   Reply With Quote Back To The Top
Old 05-22-2019, 12:57 PM   #29
Tsnow
Four Point
 
Tsnow's Avatar
 
Join Date: Feb 2019
Location: Tomball
Hunt In: Gimes Co. / Junction TX
Default

Property.
Tsnow is offline   Reply With Quote Back To The Top
Old 05-22-2019, 01:28 PM   #30
TA_Fab
Four Point
 
TA_Fab's Avatar
 
Join Date: Dec 2018
Default

Purchase rental property, or raw land and build cabins to rent out.


Sent from my iPhone using Tapatalk
TA_Fab is online now   Reply With Quote Back To The Top
Old 05-22-2019, 01:38 PM   #31
Atfulldraw
Pope & Young
 
Atfulldraw's Avatar
 
Join Date: Oct 2006
Location: Hill Country
Hunt In: a high fence, southwest of DFW, Colorado
Default

Quote:
Originally Posted by Throwin Darts View Post
I sold off some investment properties. I finally had enough to buy my dream place or to reinvest it in more real estate or stocks. Much like the situation you described.

I chose to buy the property because owning my own place has always been my dream.

Could I have retired earlier? Sure. But I don't hate working as much as I love having my own place.

Would the ROI be higher on investments? Depends on if you're looking at returns on paper or returns on how it feels pulling in your own gate!
We did the same, bought a slightly smaller ranch with the idea of buying more later on, however I also know that my income will be fairly high for the foreseeable future with a likely buyout at the end of my career.

That money will then be used to buy our final ranch.



Quote:
Originally Posted by Merc View Post
My caveat to the OP on the property purchase is, what'll the annual expenses be on that and can you continue to afford it in the long run?

Write out your pros and cons as well as you can on the expenses on each and see where you land. Part of this would be an emotional decision, but it needs to be logical at the same time. I.e. I could buy a big nice ranch now, but I couldn't afford the upkeep, equipment and taxes on it without working so much I couldnt enjoy it.

Sent from somewhere
Excellent points.

Our ‘relaxation ranch’ sure is a lot of work, and that’s without considering the financial obligations they go along with ownership...

Not much porch-sitting goes on right now
Atfulldraw is offline   Reply With Quote Back To The Top
Old 05-22-2019, 02:36 PM   #32
Razrbk89
Ten Point
 
Join Date: Dec 2014
Location: NE Arkansas
Hunt In: Northern & Eastern Arkansas
Default

Given the two options you presented, I’d go with buying a place. I’m not really interested in starting a business.

For 300k I could grab 200 acres or so and cut a little timber off of it after close, to recover a little. Would definitely go that route if something came up that joined me somewhere.
Razrbk89 is offline   Reply With Quote Back To The Top
Old 05-22-2019, 03:20 PM   #33
Throwin Darts
Pope & Young
 
Throwin Darts's Avatar
 
Join Date: Feb 2007
Location: Aledo
Default

Quote:
Originally Posted by Atfulldraw View Post
We did the same, bought a slightly smaller ranch with the idea of buying more later on, however I also know that my income will be fairly high for the foreseeable future with a likely buyout at the end of my career.

That money will then be used to buy our final ranch.





Excellent points.

Our ‘relaxation ranch’ sure is a lot of work, and that’s without considering the financial obligations they go along with ownership...

Not much porch-sitting goes on right now
I know what you're saying. Its been two years and I don't think I've sat on the porch yet!
Throwin Darts is offline   Reply With Quote Back To The Top
Old 05-22-2019, 03:57 PM   #34
dustoffer
Pope & Young
 
dustoffer's Avatar
 
Join Date: Sep 2009
Location: Seguin, Tx
Hunt In: S/Central Tx
Default

Well, I'll be 73 this month, have my SS and military retirement coming each month, and retirement fund as well, so you know I'd be shopping for land.
dustoffer is online now   Reply With Quote Back To The Top
Old 05-22-2019, 04:23 PM   #35
cj7zrcool
Pope & Young
 
cj7zrcool's Avatar
 
Join Date: Oct 2006
Location: Springtown
Hunt In: Throckmorton County
Default

Finish up a couple of things I've been putting off around the place and refinance my mortgage with the rest.
cj7zrcool is offline   Reply With Quote Back To The Top
Old 05-22-2019, 06:15 PM   #36
dfkoon
Ten Point
 
dfkoon's Avatar
 
Join Date: May 2011
Location: Arlington/Texoma
Hunt In: Brady / Hagermann when lucky
Default

Quote:
Originally Posted by solocam_aggie View Post
Thanks for following along! Everyone's situation is different; Im just curious about the these two options.

I tend to lean the same direction towards property.
Early in my life I would have started the business. Now, I'd buy the land. If really good and you pass then send my way. I'm half way looking and the right deal I'd jump on it.
dfkoon is online now   Reply With Quote Back To The Top
Old 05-22-2019, 06:18 PM   #37
sbushee
Ten Point
 
sbushee's Avatar
 
Join Date: Jan 2016
Hunt In: The Outside
Default

Pay off my house and pocket the rest.
sbushee is offline   Reply With Quote Back To The Top
Old 05-22-2019, 06:26 PM   #38
AlaskaFlyerFan
Ten Point
 
Join Date: Jan 2012
Location: San Antonio
Hunt In: Don't have a place yet
Default

What would it cost you to do both? Take out a small business loan and use a chunk of the money as the down payment on the land.
AlaskaFlyerFan is online now   Reply With Quote Back To The Top
Old 05-23-2019, 05:35 AM   #39
Backwoods101
Pope & Young
 
Backwoods101's Avatar
 
Join Date: Sep 2014
Location: Needville
Hunt In: Fort Bend, Gillespie
Default

Anyone else reading this thread with their fingers crossed hoping their investment plan isn't posted
Backwoods101 is offline   Reply With Quote Back To The Top
Old 05-23-2019, 06:13 AM   #40
BURTONboy
Pope & Young
 
BURTONboy's Avatar
 
Join Date: May 2009
Location: New Ulm
Hunt In: San Saba
Default

Id pay off all my debt since we already own a nice property. If we hadnt bought yet, we’d buy what we wanted within or slightly above that price range and build our dream house.


Sent from my iPhone using Tapatalk Pro
BURTONboy is online now   Reply With Quote Back To The Top
Old 05-23-2019, 09:51 PM   #41
knucklehead
Six Point
 
Join Date: Oct 2006
Location: Bridgeport/Jack, Wise
Default

Peter Gibbons: What would you do if you had a million dollars?
Lawrence: I'll tell you what I'd do, man, two chicks at the same time, man.
Peter Gibbons: That's it? If you had a million dollars, you'd do two chicks at the same time?
Lawrence: **** straight. I always wanted to do that, man. And I think if I had a million dollars I could hook that up, cause chicks dig a dude with money.
Peter Gibbons: Well, not all chicks.
Lawrence: Well the kind of chicks that'd double up on a dude like me do.
knucklehead is online now   Reply With Quote Back To The Top
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -5. The time now is 08:52 PM.


Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2019, vBulletin Solutions Inc.
Copyright 1999-2012, TexasBowhunter.com