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Post by restlessnative on Aug 20, 2024 11:44:32 GMT -5
Sounds like you are certainly on top of it, hope it works out and you get your little slice of paradise! Might have to have n OT bash there 🤪
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Post by flysalt069 on Aug 20, 2024 13:15:47 GMT -5
Medical wise y’all will be ok. New hospital built in 2011 and sure it has been added onto. Shoot a group of orthopedic surgeons outta Savannah bought the hospital in reidsville and send patients there instead of Savannah. Mom’s side of family from Tattnal county and moved over to vidiala. Looks like a nice piece of property.
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Post by PolarsStepdad on Aug 20, 2024 15:00:33 GMT -5
I hate onion. Even the smell makes me gag. I will not be moving to Vidalia
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Post by swampdog on Aug 20, 2024 17:53:15 GMT -5
Congrats to you! Hope everything works out great!
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Post by richm on Aug 21, 2024 7:52:21 GMT -5
We're gonna have to finance it - seems like 8-9% range. Not crazy.
Trying to decide what of the following seems better: Arbitrarily: $100k
25K down and pay off 20k of other debt, have loan at 75k = about $720/month for 15 yr 40k down, have 60k loan = about $575/month for 15 yr
Leaning toward the top one.
Am I missing anything?
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Post by ferris1248 on Aug 21, 2024 8:55:40 GMT -5
Just a thought.............Put the cash in a CD so you lock in a decent rate. 4 - 4 1/4 right now. Borrow against the CD. Lower loan rates, easier approval and you pull interest on the CD.
May or may not fit in your situation.
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Post by One Man Gang on Aug 21, 2024 9:33:36 GMT -5
Checked the auction site and nothing is within reach but will keep an eye on there. TRT - seeing a lot of buildings for less than $20k. House is gonna be about 1,500-1,600 feet they have some real nice steel house designs. Figure barn w parking and couple stalls should be about 30x30 anyway. Whatever size building you think you need double it. Solid advice. I built a 30x40 thinking that would solve all problems. It didn't take long to wishing I went 40x60.
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Post by richm on Aug 21, 2024 9:34:46 GMT -5
Just a thought.............Put the cash in a CD so you lock in a decent rate. 4 - 4 1/4 right now. Borrow against the CD. Lower loan rates, easier approval and you pull interest on the CD. May or may not fit in your situation. Good call, we're about 20% short on funds to do that. Might be feasible next year if we were buying then. Could do as a refinance in future.
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Post by richm on Aug 21, 2024 9:35:41 GMT -5
Whatever size building you think you need double it. Solid advice. I built a 30x40 thinking that would solve all problems. It didn't take long to wishing I went 40x60. My dad did a 15x30. Can barely fit my boat in there...
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Post by PolarsStepdad on Aug 21, 2024 12:11:34 GMT -5
I want a 40x60. I can always add another 20 later if that's not enough for the garage too My buddy originally built a 40x100. It's huge. They built there house in 40x50 and the other 40x50 was barn/garage. Well his wife didn't like dirt getting in the garbage. So they extended the front out another 20'. Then they made a lean to on each side to park boats 4 wheelers and other toys on one side. And the other side is a cooking/grilling area. The exterior of the house inside the barn is covered in cypress giv9ng it a cabin look. When his daughter was born he built another lean to beside the house part. And made his daughter a bathroom and bedroom and wife an office for her buisness (she's a mobile vet. Her truck has all the stuff needed for a vet visit including xrays and stuff) it's got to dang near be 4000ft/2 heated and cooled. It's mY dream set up honestly and he had very little in it. If I only had family land
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Post by richm on Aug 21, 2024 12:47:50 GMT -5
I want a 40x60. I can always add another 20 later if that's not enough for the garage too My buddy originally built a 40x100. It's huge. They built there house in 40x50 and the other 40x50 was barn/garage. Well his wife didn't like dirt getting in the garbage. So they extended the front out another 20'. Then they made a lean to on each side to park boats 4 wheelers and other toys on one side. And the other side is a cooking/grilling area. The exterior of the house inside the barn is covered in cypress giv9ng it a cabin look. When his daughter was born he built another lean to beside the house part. And made his daughter a bathroom and bedroom and wife an office for her buisness (she's a mobile vet. Her truck has all the stuff needed for a vet visit including xrays and stuff) it's got to dang near be 4000ft/2 heated and cooled. It's mY dream set up honestly and he had very little in it. If I only had family land We're talking 30x50 or 40x60 for house, will do a split plan. I hope not to stay in business when i retire. Figure to have enclosed lean to's on each side of the main building - one for the critters and critter stuff, other for wife and wife garden stuff, middle for me - boat, tractor, SxS - and a work shop area. Finding out land loans aren't pretty. First guy said 9.25% 34 month balloon payment and then re-up . Diff bank lady just told me 8% 5 years w 20% down. Waiting on AgSouth to call back - their ads say up to 20 yr financing. I'd love 15 yrs at 8%. Just to fit better into budget cause we need to buy/pay for other stuff too.
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Post by walkerdog on Aug 21, 2024 13:39:09 GMT -5
Check with Farm Credit. Each state has them and they do a lot of land loans.
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Post by richm on Aug 22, 2024 6:54:06 GMT -5
Check with Farm Credit. Each state has them and they do a lot of land loans. Talked with AgSouth yesterday and submitted the application about 5 minutes ago. Pretty interesting how they do business and have folks buy shares, get dividends while banking with them - shares are sold back after loan satisfied. The dividends lower the overall costs. There was one more place that popped up and had 15 yr loans. Not going there unless we have to.
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Post by ferris1248 on Aug 22, 2024 7:08:30 GMT -5
It'll be interesting to see where rates are Monday morning after Powell speaks tomorrow.
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Post by richm on Aug 22, 2024 7:37:23 GMT -5
It'll be interesting to see where rates are Monday morning after Powell speaks tomorrow. Talked w 3 lenders in 2 days. Only AgSouth guy mentioned not locking in rate cause it may come down becore we close in October.
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