Got a lot going on, could use some life advice?

HoLeChit

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So this is gonna have some back story, and a whole mess of questions. Have a lot going on, and could use some opinions/ideas.

So I’m currently unemployed, going through the VA Vocational rehab program for self employment. Gonna be starting working soon, just need to get my tools from the VA. Also gonna be proposing/getting married soon, once I start getting some income coming in. Losing my job kinda put all that on hold. In the next few months We are moving out of my house and into my girlfriends house she has been renting out so we can fix it up over the next year or three, and planning on buying some land and custom building our dream home. I’ve decided, due to everything going on over the next year or two, plus the economic conditions and the upcoming capitol gains tax hikes that I am selling my home. This is gonna be a more profitable route than renting it out, being busy/overwhelmed, and then selling it as an investment property in a year or two in a less than optimal market.
To add to all this, my dad passed away last year, and my mom has been getting screwed left and right by attorneys. Her attorney isn’t doing anything, seems as if he isn't moving to get my dads house out of probate so that he can use “his guy” to sell it for my mom “as a favor”. It’s been almost a year now. The house is just a mobile home on a decent lot with some outbuildings in a mobile home park in Choctaw. Mobile home is a health hazard, in disrepair, and is trashed. It needs to be demolished, but the land and outbuildings are great.

so, question time:

In my situation, with where I am in life, what would you do with the proceeds from my home sale? I have a considerable amount of equity, and after paying a small debt off, I’ll be 100% debt free. My monthly expenses will be small, allowing me to save a good amount towards the dream home/etc. Any good ideas for investment vehicles to grow the remaining equity/money being saved? I want to outpace this exorbitant inflation and grow my money so I have more power to buy the land I want in the next few years. I want it to be reasonably liquid as well, in case the perfect property appears.

for you guys further along in life than I am, what did you do right with said windfalls/situations, and what advice can you give me in this sorta time in my life?

In terms of this crappy attorney, is there any suggested reading on stiff arming this guy into actually Releasing this stuff so that my mom can move on? She’s dumped thousands of dollars into this guy, to get nothing out of it, she could t afford doing that even, so firing him and hiring someone else is out of the question. Has anyone been in the situation, and what have you done?

With the mobile home, it needs hauled off or demolished. I’m not sure if it’s the Best option, as we could always sell the property as is for someone else to dispose of. But if the best route ends up being to get rid of it, anyone have any suggestions? Suggestions for scrappers or demo guys? I can do demo work myself, and can operate heavy equipment, that’s no issue. I don’t have access to equipment though. If I rent an excavator or something, what all would need to be done? I imagine I would need a dumpster or two, and a demo permit, but do I need to call utilities to get the gas and electric disconnected/capped off? I imagine I need to call a septic company to get the plumbing disconnected. Anything else I’m missing?
 
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Glock 'em down

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I'm gonna sound like a horse's ass, but I've seen this way too many times.

I'm a firm believer that it takes you at least 10 years to really know a person. I mean really REALLY know somebody. I would suggest putting the "dream home" on hold for no less than 4 or 5 years and just rent a little sugar shack, to see if you and your intended sweetie can handle being married. I've never met your fiance, so I don't know her, but after being married to the same woman for almost 35 years, I can honestly say it took us over 5 years to really know each other and overlook each others faults and shortcomings. Love is deaf, dumb and blind, so right know you guys are head over heels, holy cow, his and her towels "in love."

But that could change after you live together for awhile.

Anyways...that my 2 cents worth. Good luck in whatever you choose to do.
 

HoLeChit

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I'm gonna sound like a horse's ass, but I've seen this way too many times.

I'm a firm believer that it takes you at least 10 years to really know a person. I mean really REALLY know somebody. I would suggest putting the "dream home" on hold for no less than 4 or 5 years and just rent a little sugar shack, to see if you and your intended sweetie can handle being married. I've never met your fiance, so I don't know her, but after being married to the same woman for almost 35 years, I can honestly say it took us over 5 years to really know each other and overlook each others faults and shortcomings. Love is deaf, dumb and blind, so right know you guys are head over heels, holy cow, his and her towels "in love."

But that could change after you live together for awhile.

Anyways...that my 2 cents worth. Good luck in whatever you choose to do.
Horses ass or not, I asked for opinions and advice, and I appreciate it. I can say that to an extent I agree with you. Been through the entire marriage thing in the past when I was younger, been divorced a decade now. God I sound old. Anyways, been with the current one almost 4 years if my memory serves me right, and while it hasn’t been perfect, it’s been real and honestly great. We’ve been living in my place, moving to her place that was previously rented out to fix it up.
 

RickN

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Hopefully one of our resident legal beagles will be along to help but it sounds like your mom needs to file a complaint with the bar about that lawyer.
 

1911Sooner

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Sorry to hear about your father passing man. I don't really have any advise for you as I've made my mistakes in life. But it sounds like you are at least thinking through it and trying to make sound decisions. Good luck!
 

Shoot Summ

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Have you actually run the numbers on renting your house versus selling it? If you have a significant amount of equity I would bet 3-5 years of a rent stream, and the associated tax benefits would produce more return than parking the money in a low % savings account. The house can also be used for equity to borrow against for your next step if you want.

You need to have a sit down with the attorney and get a timeline, and clear closure target for the probate. Also ask for the timeline up to this point. Determine what you Mom has paid so far as well.
 

gerhard1

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As to your question concerning investments, I'd contact a good financial adviser. They'll have numerous options for you. Edward Jones has been good for me. When I retired from Boeing, I put my VIP in their hands and they more than doubled it for me even after taking out monthly payments for more than ten years.
 

cowadle

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i would try to sell the mobile home with an agreement that is must be removed in whole. write the agreement down and get it singed. you would be surprised what i see drug up renovated and then undocumented mexicans move in. even if you give t away get a signature so they don't just make it worse and leave you the mess. the old mobile home has some value. don't be greedy because the home value may or may not be enough to pay for it's own removal,but you might be surprised what a free home means to some. fire the lawyer and get another but also remember the courts are slow as molassis and probates can take a long time. since you asked---- put down the toys and the can of beer cut the play time down and learn a habit of reading and seeking information on things that will advance your position in life. sounds like you are ready. get a bible and read it through and start over don't worry understanding will come and many of your questions will be answered.
 
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