Ridgetop - our place and how we muddle along

[Baymule]

Interesting that the massive city of Houston isn't in Houston County (which has a population < 25,000).

We love Sam Houston, the first and third President of the Republic of Texas. Only fitting that we name a city, county and university after him. There is a park in Huntsville with a couple of his homes moved to it. History. Leader of the Texas Revolution, Sam Houston led the fight and won the Battle of San Jacinto, over the Mexican President, Santa Anna. Santa Anna signed papers, giving Texas our independence from Mexico. March 2, 1836 Texas Independence Day.
Remember the Alamo!

 

[Bruce]

I am sure that he will be ok. It just means I have to be that much more careful in reading and specifying everything.

Unless you have a buyer's broker, the real estate agent is always working for the seller, even the buyer's REA is working for the seller. Given the REAs' commissions are based on the selling price, they both want the highest price possible. When the buyer is also the seller's REA, I doubt they will work as hard to get the best price for the seller.

 

[Ridgetop]

I already told him we are going to counter offer. Our counter is contingent on us finding a 1031 property, we will not clean up or repair the property since it is to be an "as is" sale for building, and we asked to drop the 6% commission to 3% since the buyers are both the selling agent and broker, buying agent and broker, and buyers themselves.

He wants to discuss it at 3:00 pm today. He did not print up the counter offer as I instructed. We'll see.

At this point I am also considering our ages - DH is 77 and I am 70. How many HEALTHY years do we really have to work our sheep in the future? Do we really want to expand our sheep operation to make it profitable? Will we want to move back to be near our children in the future when we are older (not in our prime as we are now! LOL) I figure we have about 10 years left to stay here, with DS1 to help us with the sheep and property. After that DH will be 87 and I will be 80 - ready to retire to a smaller place.

Maybe we should just 1031 the Yelm property into 2-3 separate rental houses in Texas. Each of them would rent individually for what our single property in Yelm rents for. The taxes would be higher, but would also be tax write offs. This would give us additional income to pay for hay purchases for our small Dorper flock here. Eventually we can sell off our property here. We will avoid some taxes by selling the 4.5 empty lot next door as a 1031 exchange since we currently show it as investment property. Then we could rent in Palm Spring and spend our summer traveling or cruising. I will call my TX real estate broker abut investing the proceeds in rental houses instead of a small ranch.

I really hate this Covid quarantine! Otherwise we could be traveling to see other locations around the country. Being restricted at home makes us feel OLD! Feeling worried about the future.

 

[Baymule]

Age is a factor. Family is a factor. And Grandkids! Texas would be a grand adventure, but I think you would miss your kids and grand kids. Your DD2 will gift you with another grandchild soon. California politics suck, but that's where your family is.

 

[Mini Horses]

There are those "life" decisions you face! I'm fortunate with only 2 kids and 1 grand. All close, none moving. For me it is, or would be, where to downsize. Or just sell off part of my property and stay in place.

I got rid of all the investment properties a few years ago. No more tenants!

 

[Baymule]

There are those "life" decisions you face! I'm fortunate with only 2 kids and 1 grand. All close, none moving. For me it is, or would be, where to downsize. Or just sell off part of my property and stay in place.

I got rid of all the investment properties a few years ago. No more tenants!

How many acres do you have and could you just lease it out for hay or livestock? Put the land into a trust and it passes to your heirs, bypassing taxes-for now. Who knows what the wackos will do to taxes with all their "free" stuff?

 

[Mini Horses]

15 acres. Yeah, could lease but not real interested in that. DD doesn't want the farm, DS wants but, not getting. So I would divide and sell, leaving main house and a few acres for DD. There is a trailer at back now, DD lives there, so could easily work it to my advantage with sales. It's a ways off before I feel that will come to pass. After all, I'm just pushing 75, not daisies I'm thinking about 10 yrs out...downsizing will be more attractive.

 

[Baymule]

When I can’t stay on my feet and I don’t know who my kids are, I have instructed them to take me camping. In bear country. Rubbed down with bacon. Pitch my tent out a ways and don’t come looking for me. LOL

 

[Bruce]

Probably not the worst way to go.

 

[farmerjan]

Probably not the worst way to go.

It would be a horrendous situation as it takes a lot for a bear to actually kill a person.....
I realize that is "tongue in cheek" on @Baymule 's part.... and I fully understand the thought behind it, watching my mom going into a vegetative state with Alzheimers...... but ...... not a bear bait deal...... gives me the shivers......