Sell My Land To Pay Off Debt?

[Music] brought to you by the every dollar app start budgeting for free today hey uh so I'm 30 years old I'm married got three kiddos and me and my wife right now are a little over $100,000 in debt on what and yeah but uh yeah on what $100,000 in debt on what uh so we have we bought a piece of land uh that's about 60 uh60 to $65,000 we still owe on that we have a car payment um which is we have about $25,000 left on that and then I have student loans uh which is about 20,000 okay what do you make uh so I make uh 70 to 75,000 cool and you don't live on the land you just bought the land so we still yeah we're still paying on the land but you don't you don't live on it no sir uh no currently we're living with uh my uh wife's grandparents and a one-bedroom uh barn housee and so we're just living there uh we're literally living on about ,000 a month and the rest were just stalking away towards debt and trying to get completely out of debt I downloaded this app called um yeah uh the the app you guys have the Easy Money apps I'm literally just trying to um completely get out of debt and trying to get out of it fast I think you meant the every dollar app I hope every dollar app yes sir okay all right if I got one called easy money I'm not aware of it but okay all right yeah every dollar so so you make 70,000 and you're living on nothing and you have $105,000 worth of debt including the land correct yes sir what's the land worse uh so it's already up in property value it we originally whenever we bought it we bought it for 75 um it was worth eight uh it's now worth $85 5,000 and this vicinity I'm sorry who said it's worth 85 uh so we had a property appraiser whenever we closed on the land how long you close on 85,000 oh I'm sorry not whenever we Clos but whenever we whenever we signed to purchase the land but the it was a priced at 85 when you bought it MH yes sir and we bought it for 75 how long ago did you buy it uh we bought it almost a year ago okay so it could be worth even more now correct yes sir okay all right I'm back with you so your question your question is what Hunter yeah so our question is should we sell the land and then just pay off all of our debt yes um okay all right yes all right that that answers my question and you're fre the only question thinking about eventually building okay yeah well I I I think you'll have that dream come true someday um and the fact that you're living in your grandparents Barn dominium tells me you like a piece of dirt which is cool I'm with you on that I like dirt too I like a little room little Elbow Room so to speak and um I mean I live in a part of Tennessee where gunfire on Saturdays pretty normal Sound by the neighbors and so um you know I like a little room and the um uh uh you know you're you're kind of got that in your blood I can hear it uh not the gunfire but the Elbow Room the um anyway the um and you're you you're in your early 20s maybe no I just I just turned 30 this year okay all right what do you do for a living so I I do wedding and alotment photography cool okay yes sir started that about four years ago I can't imagine how interesting a lopment photography is but that's a whole another subject okay all right um pretty great yeah please tell me you keep a little Journal somewhere just a tally mark that says not going to make it or going to make it oh yeah yeah uh all right I I I like that you are willing to sacrifice to get where you're going and you're willing to make hard decisions to get where you're going those two things tell me you're going to get where you're going so I'm not worried about you getting to Live Your Dream I think you're going to get there all I'm thinking about is what's the shortest distance between two points between where you are and owning something so probably if I'm you I'm saving like crazy I'm going to get us a little starter house I'm gonna make a bunch of money on it over the next four or five years and I'm going buy a piece of grand and build on it as my phase two in this process rather than uh phase sub one which you started with the ground way before you were even out of debt on the other thing so I and the good news is the ground will get you out of debt for now and you got zero payments you can pile cash you could be able to stack cash all in that Barn man just stack it in there and then go get you a nice starter house and let that thing go up in value like the land did and then sell it and build on a piece of ground someday maybe out there 5 or 10 years that would be where I am and that's also about the time you're probably going to be a millionaire yeah and there's something about putting a sitting down with your wife and y'all put it's arbitrary let's say two years let's put a deadline we're going to be out of this Barn in two years here's how much money we want to have what must be true how do we get that much money am I going to have to shoot on Sundays and Saturday nights and Wednesday mornings and I'm going to I'm going to take as many of these gigs I can get I'm going to stop saying no to things what would and what's she doing what what must be true for us to have this dollar amount to walk out of here and get that small starter home in 24 months 32 months and sometimes when you put a deadline on it it doesn't feel like it's forever and you can just work yourself silly knowing there's a light at the end of the tunnel so um I got a pattern this hour I got to stop for a second uh young ladies you need to be very clear with your fian or your husbands you need to say what you are really thinking and not go along with I live in The Barn Loft or the camper because there are some young ladies that'll go along with that uh because they agree with the goal and they're all in and that's fine I'm not talking to you but you young ladies who these uh Knuckleheads that you are married to are marrying uh have talked you into living in a barn loft or in a camper because they think that that's the way uh you need to domesticate this wild muant that you have married and let them know that uh ladies generally don't like living under bridges this is a bunch of crap and so it took me a little while to realize this cuz I and I can and you heads I'm one of you I'm only more advanced now uh because I I don't care where I live I'm I'm the guy that could live in The Barn Loft of the camper or under the bridge for that matter it does not bother me I mean it doesn't really uh but uh happy wife happy life is one of the equations and so um you guys are what you are thinking that you're doing something very positive for the future of your family um meanwhile you are leaving some marks on that relationship that um because you're stupid and um and I know this because I'm you okay and so uh again there are some times that I've have talk to couples that both of them are Allin and we bought a $2,000 used mobile home and we lived in it for three years and saved up and paid cash for home and both of them were all in but they had an end goal they had an end goal number one and number two they were both in one of them wasn't going along with it because they think that they married sir Galahad and they didn't they married goober and so um you know this is my wife bless your heart so I'm just just warning some of you ladies you need to speak up and you Knuckleheads quit moving your lady that hasn't spoken up into these ridiculous situations to accomplish your dream create your free every dollar budget today the simplest way to budget for your life