Hypothetical I threw at the wife yesterday.

gecko109 · April 10, 2011 10:47AM

After running the numbers, If I was to sell about 60% of my silver and gold bullion, and pay all due taxes, then the remaining 40% of my entire stash would be absolutely free. If I had an eye on a piece of property or some decent farmland that would be within the price that selling 60% of my stack would net me, then I might do it. But since the raised cash would simply sit as cash, we have decided against the idea. Very tempting though! To have 40% of all the gold/silver I currently own basically for "free".

piecesofme · April 10, 2011 10:56AM

We all should be so fortunate to be in that position lol. Nice job getting yourself in that "warm & fuzzy" position.

CaptHenway · April 10, 2011 11:02AM

Hey, if you've got an opportunity for using the money go ahead and sell the PM's to take the opportunity, but otherwise, why bother? Owning 100% of "XXX" cheap is better than owning 40% of "XXX" free.
TD

gecko109 · April 10, 2011 11:08AM

<< Hey, if you've got an opportunity for using the money go ahead and sell the PM's to take the opportunity, but otherwise, why bother? Owning 100% of "XXX" cheap is better than owning 40% of "XXX" free.
TD >>

Nice 1 and 2 BR condos in gated communities in Bonita Springs, Ft. Meyers Beach, and Naples are going for about what I would collect on such a sale. Too bad the HOA's are simply nightmarish!!!

CyStater · April 10, 2011 11:21AM

<< 

<< Hey, if you've got an opportunity for using the money go ahead and sell the PM's to take the opportunity, but otherwise, why bother? Owning 100% of "XXX" cheap is better than owning 40% of "XXX" free.
TD >>

Nice 1 and 2 BR condos in gated communities in Bonita Springs, Ft. Meyers Beach, and Naples are going for about what I would collect on such a sale. Too bad the HOA's are simply nightmarish!!! >>

My dream would be to have a 2 bd condo on Captiva. If I had the money right now I'd buy. I really like Naples too but I'm not a golfer.

gecko109 · April 10, 2011 11:27AM

<< 

<< 

<< Hey, if you've got an opportunity for using the money go ahead and sell the PM's to take the opportunity, but otherwise, why bother? Owning 100% of "XXX" cheap is better than owning 40% of "XXX" free.
TD >>

Nice 1 and 2 BR condos in gated communities in Bonita Springs, Ft. Meyers Beach, and Naples are going for about what I would collect on such a sale. Too bad the HOA's are simply nightmarish!!! >>

My dream would be to have a 2 bd condo on Captiva. If I had the money right now I'd buy. I really like Naples too but I'm not a golfer. >>

We saw a nice 1 BR in the southern part of Ft. Meyers in a gated community for $38,800. And we would have bought it but we then found out that OOS taxes were about $2400 and the HOA fee was $310/mo for a total of about $510/mo even with no mortgage! We then both agreed that we could take a VERY nice vacation to SW Florida each year for well under $6000, and have some flexibility to boot!

Its the HOA that scares me most....that will just rise with inflation.....or even hyperinflation to a point possibly where we wouldnt be able to afford to keep the place, and then maybe not even be able to sell it because the new owner wont want that big monthly out of pocket expense!

Justacommeman · April 10, 2011 11:40AM

Florida is not for me. Now Belize on the other hand..................I'm looking at doing a big switch myself.

sell the current house................buy a house in Northern Michigan or Montana and also buy a place in Belize.

It gets me away from cities and also gives me a place to take it on the hop just in case. Plus it gives me a Ski/Sand option. I've been saving up my frequent flyers miles more the past10 years for this purpose. Those I don't think I could ever run out of. MJ

gecko109 · April 10, 2011 11:45AM

<< Florida is not for me. Now Belize on the other hand..................I'm looking at doing a big switch myself.

sell the current house................buy a house in Northern Michigan or Montana and also buy a place in Belize.

It gets me away from cities and also gives me a place to take it on the hop just in case. Plus it gives me a Ski/Sand option. I've been saving up my frequent flyers miles more the past10 years for this purpose. Those I don't think I could ever run out of. MJ >>

Better check to be sure foreigners can own property there. There are many countries that will not allow Americans to own property.

Frankiefanatic · April 10, 2011 12:14PM

<< 

<< Florida is not for me. Now Belize on the other hand..................I'm looking at doing a big switch myself.

sell the current house................buy a house in Northern Michigan or Montana and also buy a place in Belize.

It gets me away from cities and also gives me a place to take it on the hop just in case. Plus it gives me a Ski/Sand option. I've been saving up my frequent flyers miles more the past10 years for this purpose. Those I don't think I could ever run out of. MJ >>

Better check to be sure foreigners can own property there. There are many countries that will not allow Americans to own property. >>

Consider West Texas- it is quite stunning and very cheap to own farm land here.

and US folk can buy property in Belize- not a problem. just be able to support yourself in the event of SHTF!

gsa1fan · April 10, 2011 12:20PM

Had to google Belize. Man what great pictures! Fishing looks good too

derryb · April 10, 2011 12:22PM

sit tight, property continues down while PMs continue up. At some point real estate will be the thing, probably about the same time PMs peak. Keep saving.

fastrudy · April 10, 2011 12:25PM

Las Vegas for me. Many bargains presently.

Justacommeman · April 10, 2011 12:33PM

Belize is the most US friendly country in the world. At least tied for first. It is set up for Americans and is tax friendly. Almost havenesque. You can own property and oceanfront is relatively cheap. You can fly direct from Atlanta (which is accessable from anywhere) and that just happens to be Delta's hub which is who the majority of my FF miles are with..............The only problem with Belize, they are on the US dollar.

MJ

Justacommeman · April 10, 2011 12:41PM

Phil, actually Belize attracts a lot of retired firefighters, cops and teachers. They make it easy for folks that have pensions. Cost of living is low and you don't need a car. Golf carts are the major form of transportation.

Tim, that was funny. MJ

piecesofme · April 10, 2011 1:39PM

So Phil, was it all the snow we got in the area this Winter that really is the genesis of your question to your wife?

I don't know about you buddy, but the older I get them more I question my sanity continuing to live in the Great Lakes region.

P.S.
80 sure felt DAMN good today!!!!!!!!!!!!!!!!!!!!!!

gecko109 · April 10, 2011 6:55PM

Derry, I tend to agree with you. Maybe another 10-15% haircut coming on RE before we hit the bottom? Chris Martenson has estimated that the "return to normal" for RE will happen somewhere around 2015 based on typical bubble symmetry. Im going to keep stacking and see where we are at in a few years. We will be that much closer to retirement anyway....no reason to rush into a vacation/retirement place at my age I suppose.

Rich, I "wasted" that beautiful day yesterday at the Horseshoe. Did very well though in the $210 buy-in poker tourney. Was worth my time and missing out on some great weather.

jmski52 · April 10, 2011 9:13PM

Chris Martenson has estimated that the "return to normal" for RE will happen somewhere around 2015

I wish I'd listened closer, but a guy on CNBC Friday was talking about real estate recovering in 15 years or maybe not even in my lifetime. Of course, that doesn't do anyone much good, does it?

MJ, Gecko - what price ranges are we talking about re: Belize?

guitarwes · April 10, 2011 10:15PM

Coastal south Ga has some great RE deals also!

gsa1fan · April 11, 2011 12:35AM

Guitarwes, I appreciate your state pride but Georgia ain't got nothing like these beaches

What's story on this blue hole?

guitarwes · April 11, 2011 12:49AM

<< What's story on this blue hole?

>>

That's a bullseye for a hurricane.

Justacommeman · April 11, 2011 1:17AM

200k can buy you a very nice place. 300k can buy you a GREAT place. 600K almost buys you the entire place

MJ

derryb · April 11, 2011 2:11AM

The only real estate worth consideration is fertile farmland at a good price. Rental property and Commercial property, no way. Residential property, looks good compared to 2007 but will look even better in two-three more years.

yellowkid · April 11, 2011 2:20AM

If there was a piece of property that I could use in the future, I would sell my PM's in a minute, as you said, you can always keep stacking.

Hypothetical I threw at the wife yesterday.

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