First post here, hopefully it's the right place. I'm looking for back up here before I take my plan to the boss(wife). So here goes, I'm looking at a recreational 8 acre lot in Alaska that would be used as a summer retreat, fish camp. It's right on my favorite salmon fishing river and I usually spend a few weeks there every summer at a camp ground. Well the opportunity for my own lot has become available (few and far between) and I think we can make it happen.
Current finances as followed-
House hold income bring home 8k a month Monthly bills 4K Retirement accounts 150k Emergency fund 20k No cc debt
The property would add 900 a month.
Right now I'm a stay at home retired dad. But when the kids get in school I'll go back to work. My pension alone covers all my bills. 3 Kids college are already taken care of 3 times over. I just figured I would knock 3 birds out with one stone. Fulfill my dreams of having a fish camp, summer campground with potential 15-20k income (eventually) and set a tradition with the family that would last generations.
Within 2-3 years I estimate household income will be 11-12 k with no increase in monthly expenditures. I just don't want to pass this opportunity up. Am I out of my mind or do you think there's a chance this could work. Any ideas or insight would be greatly appreciated.
Submitted June 16, 2017 at 08:39PM by kak-47 http://ift.tt/2szuKOb
