Car Talk 6: Best of times and Worst of Times

[SAWCE]

Also, DEETS!!

Under contract on this beotch: https://www.zillow.com/homedetails/807- ... 2190_zpid/?

we started looking around at some places and it escalated quickly. wanted more space, I wanted a better location and garage (both from day one but couldn't afford when we got our place). We thought this offered a great compromise between the urban location I wanted and suburban feel she did and checked a lot of boxes... very rare to find a house in the area we like with a garage under like a millie. So we decided YOLO.

I ended up extending the Carvana offer by a week, so I can enjoy a few more drives in the 86.

Sick house. Nice backyard for and too. Congrats mang.

[Gberg2119]

Also, DEETS!!

Under contract on this beotch: https://www.zillow.com/homedetails/807- ... 2190_zpid/?

we started looking around at some places and it escalated quickly. wanted more space, I wanted a better location and garage (both from day one but couldn't afford when we got our place). We thought this offered a great compromise between the urban location I wanted and suburban feel she did and checked a lot of boxes... very rare to find a house in the area we like with a garage under like a millie. So we decided YOLO.

I ended up extending the Carvana offer by a week, so I can enjoy a few more drives in the 86.

The only sad part is you finally get a house with a garage and you’re ing the 86. Somehow Beep Beep is going to live that garage life.

[D Griff]

Think we're going to live dangerously and rent it.

how far away is it? Its doable, but choose tenants wisely....

It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.

I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.

[D Griff]

Under contract on this beotch: https://www.zillow.com/homedetails/807- ... 2190_zpid/?

we started looking around at some places and it escalated quickly. wanted more space, I wanted a better location and garage (both from day one but couldn't afford when we got our place). We thought this offered a great compromise between the urban location I wanted and suburban feel she did and checked a lot of boxes... very rare to find a house in the area we like with a garage under like a millie. So we decided YOLO.

I ended up extending the Carvana offer by a week, so I can enjoy a few more drives in the 86.

The only sad part is you finally get a house with a garage and you’re ing the 86. Somehow Beep Beep is going to live that garage life.

So in an interesting update... Carvana let's you extend an offer, so I didn't make a decision and have another week.

My mom offered their Durango since she now has two cars for one person - she wants to keep it for now since she has a camper and things but won't drive it much. She was like 'keep your orange car and this can be a kid hauler'. It's a nice idea but I drive the 86 so little as-is. I still think something like an STI I'd get a lot more use out of and I wouldn't have to drive the Durango.

F150 is still on the table as well, it's actually sick and I wouldn't mind driving it for a few months for the lolz. Looks like this:

[Melon2.0]

What engine does the F150 have?

[MrH42]

how far away is it? Its doable, but choose tenants wisely....

It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.

I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.

Makes sense. I would model it out vs taking the cash now and investing it. I'm curious where the break even on the appreciation of the old house vs index funds going BRRRRR. You'll probably come out ahead renting with pretty conservative estimates on occupancy, repairs, etc. It's a pretty small house, right? So even major repairs shouldn't be too bad.

[D Griff]

It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.

I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.

Makes sense. I would model it out vs taking the cash now and investing it. I'm curious where the break even on the appreciation of the old house vs index funds going BRRRRR. You'll probably come out ahead renting with pretty conservative estimates on occupancy, repairs, etc. It's a pretty small house, right? So even major repairs shouldn't be too bad.

Yep, only 1100 sq. ft. and knock on wood it's been very reliable - pretty simple structure with slab construction, brick exterior, etc.

[J-Ho-Fo-Show69]

The only sad part is you finally get a house with a garage and you’re ing the 86. Somehow Beep Beep is going to live that garage life.

So in an interesting update... Carvana let's you extend an offer, so I didn't make a decision and have another week.

My mom offered their Durango since she now has two cars for one person - she wants to keep it for now since she has a camper and things but won't drive it much. She was like 'keep your orange car and this can be a kid hauler'. It's a nice idea but I drive the 86 so little as-is. I still think something like an STI I'd get a lot more use out of and I wouldn't have to drive the Durango.

F150 is still on the table as well, it's actually sick and I wouldn't mind driving it for a few months for the lolz. Looks like this:

That is fuckin beautiful. Also want to know which engine is in it?

[J-Ho-Fo-Show69]

how far away is it? Its doable, but choose tenants wisely....

It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.

I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.

two home ownership life!

[max225]

how far away is it? Its doable, but choose tenants wisely....

It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.

I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.

Curious how the "2k more per month" thing got calc'ed. A 680k house is prob around 4k a month easy. Unless you're netting the current 2k you're paying from the additional 4k you will be paying.

[MrH42]

It's like a 10 minute bike ride, maybe two miles. Looking at a property manager that takes an 8% cut, he thinks we can rent for $2500+, if we can take in $2300 we're breaking even.

I think it makes sense on paper, only thing that gives me pause is we're using a lot of our cash reserves to buy the new place, so we'll have a $2K more/month payment (doable) but it'll be hard to rebuild the savings and make the handful of improvements to the new place we'd like to do. I think if renting turns out to be not terrible, it's worth it in the longer run to just be a bit more tight with budgeting over the next couple of years.

Curious how the "2k more per month" thing got calc'ed. A 680k house is prob around 4k a month easy. Unless you're netting the current 2k you're paying from the additional 4k you will be paying.

Sounds like the mortgage on the new house is $2k/month more if they keep the old house and rent it, as opposed to selling it and rolling that equity into the new house.

[D Griff]

Curious how the "2k more per month" thing got calc'ed. A 680k house is prob around 4k a month easy. Unless you're netting the current 2k you're paying from the additional 4k you will be paying.

Sounds like the mortgage on the new house is $2k/month more if they keep the old house and rent it, as opposed to selling it and rolling that equity into the new house.

Yep, current house mortgage is higher due to being a 15 year, ~$2300, so the rent would pretty much just cover it after paying a property manager.

So from a budget perspective, new mortgage will be $2-2.5K more

[max225]

Wild your mortgage will be the same as mine

[D Griff]

What engine does the F150 have?

I think it's a tree fiddy.

[Desertbreh]

What engine does the F150 have?

I think it's a tree fiddy.

It would have to be a tree oh two or a tree fiddy one.

[D Griff]

I think it's a tree fiddy.

It would have to be a tree oh two or a tree fiddy one.

Tree fiddy one in that case.

[Desertbreh]

It would have to be a tree oh two or a tree fiddy one.

Tree fiddy one in that case.

It is a very nice truck.

[D Griff]

Tree fiddy one in that case.

It is a very nice truck.

Yep, I kinda want to borrow it and hope he just forgets about it! He owns four F150s and just a bunch of vehicles overall, so I don’t think he uses it much.

[Melon2.0]

What engine does the F150 have?

I think it's a tree fiddy.

300
302

Maybe a 351

[Melon2.0]

Of those all, the 300 holds a special place in my heart, it's just bulletproof reliable. The 302 and 351 are also peak Ford V8's

[CaleDeRoo]

A 351 short bed F150 is sick as hell

[max225]

It is a very nice truck.

Yep, I kinda want to borrow it and hope he just forgets about it! He owns four F150s and just a bunch of vehicles overall, so I don’t think he uses it much.

What’s the back story on the F150 collector.?!

[Johnny_P]

Also, DEETS!!

Under contract on this beotch: https://www.zillow.com/homedetails/807- ... 2190_zpid/?

we started looking around at some places and it escalated quickly. wanted more space, I wanted a better location and garage (both from day one but couldn't afford when we got our place). We thought this offered a great compromise between the urban location I wanted and suburban feel she did and checked a lot of boxes... very rare to find a house in the area we like with a garage under like a millie. So we decided YOLO.

I ended up extending the Carvana offer by a week, so I can enjoy a few more drives in the 86.

This is a very pretty house. Nicely done Dan! I’m jealous af.

[D Griff]

Yep, I kinda want to borrow it and hope he just forgets about it! He owns four F150s and just a bunch of vehicles overall, so I don’t think he uses it much.

What’s the back story on the F150 collector.?!

I think he just prescribes to the Eric style of car ownership where he just keeps the old thing when he replaces it.

Current fleet:

1991ish F150 bought in mid 90s and often broken now, farm truck/kept for sentimental reasons.

1995ish one that I may borrow - bought because he got a deal I guess, not sure the point

2011ish fancy spec four door is the daily

2018ish fleet spec he drives to work, I think his business owns this one but he drives it all the time

His business also owns numerous other trucks of varying types.

They also have the Trans Am, a Cadi SUV that my wife’s step mom drives, a Harley, a few Gators, ATVs, tractors, etc.

[D Griff]

Under contract on this beotch: https://www.zillow.com/homedetails/807- ... 2190_zpid/?

we started looking around at some places and it escalated quickly. wanted more space, I wanted a better location and garage (both from day one but couldn't afford when we got our place). We thought this offered a great compromise between the urban location I wanted and suburban feel she did and checked a lot of boxes... very rare to find a house in the area we like with a garage under like a millie. So we decided YOLO.

I ended up extending the Carvana offer by a week, so I can enjoy a few more drives in the 86.

This is a very pretty house. Nicely done Dan! I’m jealous af.

Thanks man! Looking forward to it but also dreading the move.