The Trailer Plan
Brian has an interesting way to save for a house, and it involves a trailer.
QUESTION: Brian is newly out of debt and working on his emergency fund and down payment for a house. Land in his area is cheap for what he can get. Is it a good idea to pay cash for land and live in manufactured housing while they save to build a house on that land?
ANSWER: You want to pay so cheap for the trailer that when they tow it away and you don’t get anything for it, you at least made money on that vs. what you paid in rent during the same time if they take it away. Ask yourself if you want to live that way and if your wife wants to live that way.