Comments by "Wakeup and Sniff the Coffee" (@Wakeupandsniffthecoffee) on "Michael Bordenaro"
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26:28 after walking away from a mortgage in Hawaii and my first house, disability, foreclosure and bankruptcy, I never intended to have a house again about 4 years later and a settlement, I walked into a great place in Virginia. It's gone up over $150k in equity.
When I went for a mortgage and solar for the house and an brand new HVAC system, I mainly look at the monthly costs. If I can afford it monthly, then that's fine. How much I pay in total doesn't mean much because I won't outlive the debts anyways.
So if I can get the place and pay for needed repairs and still have money at the end of the month that works for me.
Of course having enough for savings is rough, but I'm slowly trying to have 6 months worth as a target.
My whole world evolves around what it costs me monthly, not at the end, like I said I won't be here or probably not in my house if I am.
I wish things were better and maybe they might, but just a notch over surviving is acceptable. I wish I was thriving and had the money to travel and such, but that's not in the budget.
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My grandson just turned 21 and lives with me.
But straight out of high school he went to aircraft mechanic school for two years, graduated with his FAA A&P certificate (Airframe and Power Plant) and can now go on to earn 6 figures in any of various industries requiring this.
He is starting off at a small local airport to work on planes and acquire experience, while paying down debts, like his government loans and then he can pretty much pick a big company most anywhere in the world.
Being just 21 and no girlfriend or wife, which I hope he maintains, he can really set his life up nicely and maybe when he hits his forties, he can select a nice young attractive woman with a low body count to settle down and have his own kids with, not raise some other guys kids.
The crazy thing about this is hearing from you on another video about California raising its minimum wages for fast food to $20/hr.
While my grandson could relocate and make $35-$40 an hour starting in the big metro airports or factories, to stay here in Virginia he has to start off at $20.
So with his training and certifications, he is still making as much as a California fast food worker.
Fast food is already crazy expensive, I can imagine how expensive it will be after these pay increases.
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My situation is I have a nice 1.6 acre property with a two story house, two car garage and a barn.
I bought it in 2017 and it's worth nearly $150k more than I paid.
I am retired and 67, single with just a grandson living with me here in Virginia.
I thought about taking the money and just renting afterwards or mostly traveling.
The problem is I have animals, gardens and enjoy this place.
Buying a place that's better than most places I could move to makes it hard to sell.
The house has an inlaw section that is big enough for me.
I thought I could rent the rest of the house and have a base to come back to.
My family is scattered between Hawaii, California, Virginia and Australia.
Traveling is expensive and a pain. I don't care for California and Australia. Too expensive and too far.
I spent most of my life in Hawaii, been there and done that. It's a crazy place from what I experienced growing up.
I even thought about an Airbnb for the main part of the house or moving into an RV and just keep moving.
If you buy a house that you love, you may not want to profit from it and sell it later. Even if you did, what can you buy next?
I really hate paying someone else's mortgage by renting, which is why I have this house now. It only cost me about $200 a month more for the mortgage over the rent.
I sort of like the idea of moving to a place for a month to see what it's like and then move on to another location, while retaining my home base and renting the main part out.
I make enough monthly in retirement to live okay and it's mainly the cost of having a house, animals and loans for the maintenance, that eats up my income.
I even thought of being a passport bro and living where I can make my money go much further, but I have good doctors and medical care here and that may not be the case elsewhere.
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