Tractor Talk Discussion Board |
Re: O/T can it be done
[ Expand ] [ View Replies ] [ Add a Reply ] [ Return to Forum ]
Posted by 8N'r--WI on January 11, 2007 at 20:55:42 from (65.29.177.100):
In Reply to: O/T can it be done posted by old on January 11, 2007 at 10:21:26:
Old, I believe your buddies goal is to buy a 70k house and keep his 100k intact. If his plan is to take a 30 year mortgage, make the principal and interest payments (not including property taxes)each year from interest earned on the 100k, the bank will be real happy and your buddy will achieve his goal. Over the life of the mortgage, however, your buddy needs to have the discipline not to spend any of the 100K before he pays the mortgage off. 30 years is a long time. I will side with you. Pay the 70K cash for the house (creates immediate equity), and save thousands in interest payments to a bank over 30 years. If he never spends the remainding 30k, and invests that at a rate of 5%, after 25 years, it will have grown to a bit more than 100K-another $.02 opinion--and lots of variables not thrown into the discussion--good luck to your friend with whatever he decides to do--Tim
Replies:
Home
| Forums
Today's Featured Article -
An Old-Time Tractor Demonstration - by Kim Pratt. Sam was born in rural Kansas in 1926. His dad was a hard-working farmer and the children worked hard everyday to help ends meet. In the rural area he grew up in, the highlight of the week was Saturday when many people took a break from their work to go to town. It was on one such Saturday in the early 1940's when Sam was 16 years old that he ended up in Dennison, Kansas to watch a demonstration of a new tractor being put on by a local dealer. It was an Allis-Chalmers tractor dealership,
... [Read Article]
Latest Ad:
Sell 1958 Hi-Altitude Massey Fergerson tractor, original condition. three point hitch pto engine, Runs well, photos available upon request
[More Ads]
Copyright © 1997-2024 Yesterday's Tractor Co. All Rights Reserved. Reproduction of any part of this website, including design and content, without written permission is strictly prohibited. Trade Marks and Trade Names contained and used in this Website are those of others, and are used in this Website in a descriptive sense to refer to the products of others. Use of this Web site constitutes acceptance of our User Agreement and Privacy Policy TRADEMARK DISCLAIMER: Tradenames and Trademarks referred to within Yesterday's Tractor Co. products and within the Yesterday's Tractor Co. websites are the property of their respective trademark holders. None of these trademark holders are affiliated with Yesterday's Tractor Co., our products, or our website nor are we sponsored by them. John Deere and its logos are the registered trademarks of the John Deere Corporation. Agco, Agco Allis, White, Massey Ferguson and their logos are the registered trademarks of AGCO Corporation. Case, Case-IH, Farmall, International Harvester, New Holland and their logos are registered trademarks of CNH Global N.V. Yesterday's Tractors - Antique Tractor HeadquartersWebsite Accessibility Policy |
|