http://static.dispatch.com/www.dispatch.com/live/content/local_news/stories/2010/05/17/hog-wildnot-this-girl.html

Cool story.............................bro

needs better pics

"She's pretty tight," said Lindsay's dad, Gary.

Wow.

Bullshit. This nothing more than a ruse to launder money from a barnyard/internet business. I hardly recognized her without the horse and donkey.

GoChiefs wrote: "She's pretty tight," said Lindsay's dad, Gary.

Wow.

Well, you now know why he wanted her to stay at home and commute to college. :s

shes at the top of her class academically, yet goes to OU chillicothe? hm..

UA5straightin2008 wrote: shes at the top of her class academically, yet goes to OU chillicothe? hm..

That's how it used to be at a lot of the rural schools.

hm, seems like if you do that well academically, you could get a pretty good instate tuition deal at OSU or OU main campuses, barring test scores

she's gonna be a farmer, it doesn't really matter where her degree is from.

Have a class with her this quarter, nice girl, have known her dad since I was around 5.

Cool story right?

slide22 wrote: Have a class with her this quarter, nice girl, have known her dad since I was around 5.

Cool story right?

got better pics?

I know who this girl is, good for her.

Nice story and all...but I had no clue you won money for showing and winning stuff for 4-H.
Why the hell have I not been doing this my whole life?!?! Jesus.

LJ wrote:

slide22 wrote: Have a class with her this quarter, nice girl, have known her dad since I was around 5.

Cool story right?

got better pics?

Haha nope. Cute girl, but she's engaged .

slide22 wrote:

LJ wrote:

slide22 wrote: Have a class with her this quarter, nice girl, have known her dad since I was around 5.

Cool story right?

got better pics?

Haha nope. Cute girl, but she's engaged .

By the sounds of it, daddy's got the ownership rights. lol I laughed when I saw him say she was "tight".

Saw this story on yahoo's mainpage and still have no clue how this is newsworthy. One of my good friends bought his house when he was 19, yet didn't make headlines.

Lol @ the father saying she is "tight."

Also, i can't believe the comment from the person at the Ohio Board of Realtors saying she had never heard of a teenager buying a house before.

I know personally six people from my high school who bought houses, with cash, at 18.

Happens all the time.

Good for her, but not sure why this is really worth a news story.

Another thing, why pay cash for the house? She's 18, why not get a convential loan, put down $8,000 and get a mortgage at 5% and still have some cash flow?

thedynasty1998 wrote: Another thing, why pay cash for the house? She's 18, why not get a convential loan, put down $8,000 and get a mortgage at 5% and still have some cash flow?

Why pay interest if you don't have to?

Lets see, pay $40k now or...

If its a 15 year loan at 5% pay 54k over the long term.
If its a 30 year loan at 5% pay 70k over the long term.

I'd go with pay 40k now and then put the rent money away into the same savings account each month and never touch it unless the house needs a repair of some sort.


If she does that, by the time she graduates college in 4 years she'll be back to having $22k in the bank.
If she does a masters, in 6 years she'll have $35k in the bank.

In just under 7 years she would have completely returned her 40k into the savings account.

That's assuming about a 2% interest.

Heck, if she was "smart" and put the 450 into an IRA or money market account and got even say 5-6% in the market during that time the numbers are even better.

I know it's a matter of opinion, but I'm in the other boat.

You finance the house at 80%. Say she gets a 5% loan. Well she can then write off the interest, you are borrowing money at 5% and can reinvest the money that you are keeping in hand and say she makes 3.5%. That's a difference of 1.5%, she has cash flow, say the house appreciates at 3% and she has the interest to write off. It's a smarter move financially IMO.

cbus4life wrote: Lol @ the father saying she is "tight."

Also, i can't believe the comment from the person at the Ohio Board of Realtors saying she had never heard of a teenager buying a house before.

I know personally six people from my high school who bought houses, with cash, at 18.

Happens all the time.

Good for her, but not sure why this is really worth a news story.

Poker players?

I've had several champions showing pigs, unfortunately, receiving that kind of money for doing so is not the normal. I'd have a new F250 if that was the case..

thedynasty1998 wrote: I know it's a matter of opinion, but I'm in the other boat.

You finance the house at 80%. Say she gets a 5% loan. Well she can then write off the interest, you are borrowing money at 5% and can reinvest the money that you are keeping in hand and say she makes 3.5%. That's a difference of 1.5%, she has cash flow, say the house appreciates at 3% and she has the interest to write off. It's a smarter move financially IMO.

Actually, using your exact numbers (5% loan, 3.5% investment, 3% home appreciation) I calculated her net worth given both cases, she buys outright or has a mortgage.

I assumed she would take the 450 rent and put it directed into the 3.5% account each month, or the remainder of the 450 after her $170ish mortgage.

I also assumed she'd put the tax savings into the savings account, and even gave her the tax savings each month (better for her) than what really happens at the end of the year.

If she were in the highest tax bracket at 35% tax savings, you are right. Her total net worth (savings+equity in house) after 5 years would be slightly higher in your suggestion ($76.3k vs $75.9k).

However, if I assume she's a "poor college student" for those 5 years like will probably be true and she will owe basically 0% in taxes so she will get no benefit from a mortgage interest deduction after 5 years she is still at $75.9k with buying outright, but only at $73.4k if she goes the mortgage route.

Matter of fact she would have to be paying around a 30% tax bracket to even "break even" between the two cases.

I'd have to guess that a 18-23 year old college student isn't in the 30% tax bracket.


I personally wouldn't do either of our sugesstions outright if I was in her situation (barely more than the $40k in the bank), I'd do a "combo" of the two as I hate having a mortgage/car payment but hate having $0 in the savings.

I would go with the loan at first and then when my savings account was sufficiently higher than the principle left on the loan, I would then pay it off. This gets the best of both worlds in that you don't deplete your savings to near zero (have that 'rainy day' fund in case something goes wrong) and you save as much as you can on interest.

Very good post! I was too lazy to actually work on the numbers.

But I do agree with you that a combination of the two would be best.

dat dude wrote:

cbus4life wrote: Lol @ the father saying she is "tight."

Also, i can't believe the comment from the person at the Ohio Board of Realtors saying she had never heard of a teenager buying a house before.

I know personally six people from my high school who bought houses, with cash, at 18.

Happens all the time.

Good for her, but not sure why this is really worth a news story.

Poker players?

Haha, actually, 1 was.

But, the others, just really bright kids who had taken advantage of the internet boom and started their own companies, saved money, etc.

I know not necessarily the norm, but teenagers buying homes definitely does happen on a fairly regular basis, from my own experience.