Is It Really Worth It to Have a House and Car if I'm OTR for the Foreseeable Future?

Discussion in 'Questions From New Drivers' started by DARKNIGHTRUCKER, May 17, 2021.

  1. lovesthedrive

    lovesthedrive Is here to help

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    Get yourself a piece of land in the country. Elevation matters, as in make sure it isnt in a flood plain. Firs thing to erect is a steel building type garage that can house the cab of the truck (40'x60'). Even if there is no living quarters, it is till nice to be able to put the tractor inside to get out of the elements when taking your vacation or 34 at home

    As time progresses, build onto side of garage a room with kitchenette and bathroom and bedroom. Make sure the living area faces south. Sunlight is always a plus.

    If the land is big enough, 2+ acres (5 is better). Build a modest home. Ranch will be easier as you get older. 800 square feet if still single. 1200 square feet if you found some one. Tho seperate garage/ attached bedroom from home (in case of divorce). Dont build a monster home until after you retire. Invest the extra money in stocks. Avoid bitcoin, some day it will disappear and like a fart in the wind, no one knows where it went
     
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  3. Linte_Loco

    Linte_Loco Road Train Member

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    LA (lower Alabama)
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    Stack that cash and wait for the housing market to crash. Swoop in :cool:
     
  4. slow.rider

    slow.rider Road Train Member

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    Apr 4, 2017
    NYC
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    I got my CDL, and renewed it, with an address of residence at a UPS store.
     
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  5. Dockbumper

    Dockbumper Road Train Member

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    Apr 29, 2020
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    Uh oh......you have figured out my strategy. Sittin' on a chunk of cash and waiting myself.:D
     
  6. Qbf594

    Qbf594 Road Train Member

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    Aug 15, 2019
    Southern Canadian annex, NY
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    I bought mine with cash.....but still if you don't know the area and know little about construction and maintenance it's very easy to buy a money pit. It's also helpful if you learn how to do a full deed search in your jurisdiction to save headaches without paying for a title company to maybe catch problems. In many places you can get back 40 years just on the website for the city/county. Find out about liens and encumbrances before your offer...
     
    Last edited: May 18, 2021
  7. Dockbumper

    Dockbumper Road Train Member

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    I would never do a Real Estate transaction without going through a Title Company. You do as you wish.
     
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  8. Qbf594

    Qbf594 Road Train Member

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    Aug 15, 2019
    Southern Canadian annex, NY
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    I was not clear. I meant that in the preliminary stages of finding the sorts of property one might see at a good price it can save a lot of wasted energy if one can weed out places with skeletons in the closet FAR AHEAD of the closing and hopefully even ahead of making an offer. Many times the offer process done WITHOUT real estate agents is fluid. Or sketchy....lol
    I'm not suggesting anyone should do a full purchase and close on property without lawyers and title companies.
     
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  9. Dockbumper

    Dockbumper Road Train Member

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    Thank you for the clarification. One of my best friends is a RE agent. I used him on my last property. He represented me as a Buyer's Broker. The $3500 commission that I paid him was worth it's weight in gold. He took care of all of the details while I was out on the road. Contract, signatures, Title, Escrow, the whole works. I signed every document electronically on my phone. Got back to town 2 days before the closing, met him at the Title Company, signed the papers and wrote a check. I would never do another transaction without an agent.
     
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  10. REO6205

    REO6205 Trucker Forum STAFF Staff Member

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    Feb 15, 2014
    California
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    Exactly right. Being a landlord was a full time job and I had only six houses. I spent more time answering tenant problems and running all over the county doing minor repairs than I did in my own house.
    A property management company, a good one, is well worth what they charge. No more phone calls at midnite..."My kid tried to flush his underwear down the toilet and now everything is clogged up".
     
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  11. skallagrime

    skallagrime Road Train Member

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    Apr 10, 2012
    Indiana
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    I never really had those calls, mostly mine consisted of them just not paying and not calling.

    I lived in the house beforehand and it wasnt a luxury mansion, but the tenants treated it like they were doing me a favor by living in it and destroying things.

    Much better with my brother there who just fixes things when they break :p i think of it as housesitting with benefits. I keep offering to toss him more money to fix other things or updating stuff and he keeps saying "no, im swamped with work" its a nice arrangement. He stays there at well below market rental, i dont have to worry its being mistreated and outside a tree falling on the house or a tornado, i dont get any costly repair bills
     
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