Then I went to Mexico and bought a house. LOL.

just saying…

Towns/Cities are small….agents live WITH their clients…past and present. Period.
A good reputation and excellent honest ethics makes the difference in an agent’s success or failure.
So..I call BS on that one.
Just saying…

The book proves statistically that real estate agents list their own properties at a much fairer price than their clients (aka marks). Go for the $299 girl!

Take care,

Jennifer

But you gain some valuable things by leasing it out for a couple years, not the least of which is the ability to come back to it if you tire of the road. So renting it out is ‘Plan B’. Austin is NOT California, and your market is ‘likely’ to improve in 2 years (though no one has a crystal ball). If you do come back to it, then you’ll have an even longer period for the market to recover.

Next challenge: how to rent it out at breakeven or a small cashflow loss (remember, even if you rent for a ’small’ loss, there is probably a big positive impact on your income taxes). What I’m going to suggest will NOT affect your credit score, I promise, ok? Call your mortgage company and ask for the ‘Loss Mitigation Dept’. Be persistent until you get through to those folks. Tell them you want to apply for a MODIFICATION. They may ask why and you can choose to tell them that you’ve had some mental health challenges and are concerned about your cashflow. It is essential that you affirm you are living in your home (owner occupied). I wouldn’t mention that you’re thinking about renting it out (or buying an RV for that matter). Given what you’ve stated here about your home value, you have an exceedingly high probability of getting a Modification that will lower your house payment SIGNIFICANTLY. There is NO DOWNSIDE to asking for a Modification, the worst they can do is say no. Many, many folks are having success merely by asking, but you have to get through to the right folks.

I look at major investments with a long-term view and in that context, homes are appreciating assets while vehicles are depreciating assets. Yes there are exceptions but you don’t want to ‘Buy High and Sell Low’ which is what you do if you sell now. This is also why you want to buy a used RV. If you can live with 25ft for 2 years, fine, but it’s better to spend just ’slightly’ more to get something you may be comfortable in for up to 5yrs, even if it’s an older model.

If you buy an 8yr old RV and sell in 2 years you’ll lose less than if you buy a 2yr old RV and sell in 2yrs. Generally, the older the RV the less you lose in resale – except for the additional costs to bring it up to speed (which are essential to understand). If you have the adventure of a lifetime and sell it at a small loss, it will probably be worth it.

RV question.
If you work real hard to keep the purchase price really, really close to value, you can sell it in a couple years and come out ok. I would plan for a $5K to $10K hicky. Ask this one over at RV.net, and get the experts answer.
James

That’s why they call it a bubble.

Can you actually service that enormous credit card debt for the next few years, plus subsidize a renter, plus buy an RV? You should be prepared for Visa to start squeezing customers more and more if credit contracts.

Of course you could always pray for some really vicious inflation to make your debts worth less. But be careful what you ask for. This only works if your income goes up at the same time.

In your situation, given the likely economy for the next few years, I would cut my losses and get clear as much as possible. Re-boot. But that’s just me. I am one of those “rip the bandaid off quickly and get it over with” guys.

I’m reminded of an old song by the Amazing Rhythm Aces. “Typical American Boy”:

“You’re a typical American boy,
from a typical American home.
Started out with a couple of breaks,
Couldn’t leave well enough alone…”

But you are not by yourself.

Bob

I suggest you try and find an affordable Class C (that’s in great shape) that will work for you for a couple of years. This not only gives you time to get the feel of living in an RV but it also gives you time to save some money towards a newer model if that’s what you choose to do. This way you are out on the road traveling and living – doing it! You can always trade in and get something fancier later on down the road. RV’s are worse than cars when it comes depreciation(new or used). But the good news is that a Class C usually will hold it’s value (depending on the year and the condition). Obviously it won’t be full value but if you keep it in good repair I don’t see why you wouldn’t be able to trade it in when the time comes. Just do your homework and make sure you don’t go out and buy a hunk of junk that you will be stuck with.:)

We can all sit around and discuss current real estate market conditions until we are blue in the face. There is nothing further you can do physically to make sure the house sells. Now the main key to selling your house is to focus “mentally”. Listen to Eckhart Tolle and really concentrate. Put your “order” into the Universe and it will happen. Remember, Ask, Believe, & Receive. Trust me on this one, I have sold a couple of properties in my lifetime. I’m channeling positive vibes your way to get this house SOLD so that you can get rolling!

49 days of sobriety is far from easy! That’s a huge milestone! Remember that you only get out of recovery what you put into it. You are doing a fabulous job! Keep it up!