After Fulltiming, Then What?

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rebecca62 said:
We would never rent  house out too many nighmare stories,
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Which state you rent your house in makes a big difference. Here in CA, it all favors the renter when things go wrong. In NV, I hear it's the opposite.

-Don- SSF, CA​
 
DonTom said:
Which state you rent your house in makes a big difference. Here in CA, it all favors the renter when things go wrong. In NV, I hear it's the opposite.

-Don- SSF, CA​
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But either way, if there's a problem don't you end up in court?  Maybe the laws favor one in one state and another in a different state but either way it seems to be a hassle to me.

Rick
 
Orick said:
But either way, if there's a problem don't you end up in court?  Maybe the laws favor one in one state and another in a different state but either way it seems to be a hassle to me.Rick
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In NV, I've heard you can simply call the sheriff to kick your renters out. In CA, dealing with the same issue can be a nightmare, takes months and a lot of money to kick out a renter .

I have met people who live in CA who rent only  in NV, because they have been burnt renting in CA.

In CA, I have even heard of people renting to close friends and getting the shaft big time. And are now enemies, of course.

-Don-​
 
I know too much about the residential rental subject to put it all here. I'll save that for the Stick House Rental Forum. I got rid of my rentals in California due to the nightmares. And, most of my renters were nice people, paid the rent, etc. That was in 1974. I can't imagine it has gotten any better.  :mad: 

Came to Idaho. Not as bad as CA, but really rough, even here. Two evictions took more than 6 months, and both trashed the house in the process. Married a lady who had rentals across the border in Oregon. Man, don't go there!  :eek:  Had 6 rentals, all but one, good ones. That one was enough. Took a year, trashing the house in the process. I had to pause the eviction to defend myself for discrimination, in court. (I won, if you can call that winning.) Blew $20,000 plus, counting lawyers and repairs on the house. Sold out, and lost a bundle to Capital Gains taxes.  :'( :'( :'(  There is no right way to do this!  :mad: 

That's only the headlines. But, I'll stop there.  :-\

Ummmm, well, maybe one more. About doing business with friends and family........

No, I'll not go into that. Belongs in the Doing Business With Friends and Family forum........  :-\  They want to buy it? Best to just give it to them!  ::)  ::) 

Ray D  ;D
 
My husband and I have been full-timing for about 4 years now. We are fairly young and still work while on the road. We sold our house just because it wouldn't have made a good rental just because of the price point. We still own a rental property in Oregon and it can be a headache being far away. We have both been in real estate and property development/construction for quite a few years. You might consider  a lease/option on your house. There are a lot of people that can't get loans now and it is not because they are dead-beats. When someone leases to own they are invested in the property and they won't trash it, especially because you usually take a down payment from them that can be substantial and then that is applied to their final purchase price. Your final purchase price can be at market value because you are cutting them some slack and creating an opportunity for them to own that they may have not had otherwise. You can take it out two years or write it up so that they can purchase the house as soon as they can qualify with the bank. Meanwhile they live their and do all the repairs/maintenance. If in the end they can not buy the house for some weird reason, the contract is written so you just take the house back because it is still in your name. It can be a real win/win. We have done it with success before. Something to consider. 
 
hi Jim & Nancy:

we will full time in a year from now
our plan is to sell the house
and yes, put money aside is a part of the plan

BUT....
(and yes that is a big but)

it is important to remember that life is that thing that happens when you are thinking and/or planning something else
so yes, make a 'plan', but know that we must live in the moment and plan base on what we know now
(I hear the future looks bright!)

regards, peter
 
Jim & Nancy what we did was keep the house for a homebase, I was ready to sell but Jami wasn't so we worked at making the house as maintenance free as possible but if we find somewhere else that will work as a homebase we would sell it and change locations. After 5 years we have spent as little as 5 weeks there and as much as 4.5 months. We have all our medical and dental appointments set up for May so we plan our travels around that month. Our situation is different from most because our house is small. pay for, next to COE Lake, in a small town in the middle of the country (SC Nebraska) and we like the area.  From the others on the road that we have talked to that have some of their stuff in storage it cost us about the same to keep the house and store our stuff there. I could go forever on what we did to make it work for us but everyone was a different situation so yours well be different than ours. The most important advise I can give you is stay fixable and make sure that your are both on board with your final decision and don't get hung up on whether you fit the definition of a fulltimer just do it your way.

Denny         
 
I buy and sell real estate.  This is not a good time to be doing that.  So, before I became another statistic I sold my home and plan on paying cash for an RV.  Already own, clear and free, the tow vehicle.  Exit plan in one of several.  Travel until the market improves to where making a living is not a problem or until I find a job that will make me happy and pay my living expenses.  I currently have no debt but I do have some residual income and enough money in the bank to do this for as long as I want.  I'm just going to follow the warm weather around the country, visit friends and check out the sights for a while.  My exit plan isn't etched in stone but one that fits my situation.  I'll be hitting the road in April or May.  Hope to see some of you out there.
 
We both sold our homes and rv'd as singles. Met in Quartzsite, AZ and after a year traded both rigs in for an "OUR" rig. We will continue traveling until we settle down in an SKP Park in Yuma for the winters and have an acre of land in Showlow to park on for the summers. If we cannot physically move ourselves we will hire it done or have friend or family do it. There is always CARE at the Escapees in Livingston, TX. for the real END.
 
Interesting that everyone seems to only be considering buying, and by implication only a single-family house, when they stop full-timing. What are your thoughts on renting a house or apartment at that time?
 
PopPop51 said:
Interesting that everyone seems to only be considering buying, and by implication only a single-family house, when they stop full-timing. What are your thoughts on renting a house or apartment at that time?
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Actually renting was the suggestion I read in a "not too long ago" article in the AARP magazine.  The suggestion was if you were on a limited budget and wanted to scale down, then sell the house, put the money in the bank and rent an apartment or a condo.  You have no upkeep, no taxes and don't have to sell it when you can't stay in the apartment/condo any longer. 

Marsha~
 
An apartment is out of the question - been there done that. We both agree on that. Having the wrong neighbors can be a pain, which in our lives, the times we have lived in an apartment before buying/building, has been the usual. We also found apartments tend to be more for the younger crowd who love to party.

We have also looked at other options that folks have indicated - buying a piece of land, either putting a manufactured home, park model or parking the RV on it. We've been told we would have to be careful to check zoning, perk tests for septic/water table depth for well drilling and of course power.

trvlnthrds mentioned escapee's CARE at Livingston TX for the END. We found that interesting, and looks difficult to be "admitted". They only indicated 48 residents but I wasn't sure if that was the number who were still in their RV's. Given we're from the baby boomer generation, we expect there would be a waiting list 12,000 long when the time came.

If we couldn't travel in the RV, then a house rental may be an option. As many have stated, plans can change, cross the bridge when you come to it. A lot can change in a few years.

- Jim & Nancy Marxen
 
Bill:

Sue would let me do that and ir would only have to be big enough for one. :D
 
Jeff, that is funny! 

We have the yurts up at Yellowstone, at least we did, not sure if they stayed for winter or not.  They are pretty neat, and can be finished out nicely.    I like the idea of a lake lot.

 
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