This involves real estate AI so I'm hoping that's real estate-y enough to be posted here. This isn't AI generated text, there are a *few* AI fetched numbers floating around, I hope it's not considered unacceptable just because of that
I hope this isn't off topic, if the mods find it so, please maybe don't ban me if you have to remove it, because I'm not trying to troll or push a bad intent.
Hello, I want ya'll to tell me if this sounds workable to ya'll.
I think I have developed a method that might be worth sharing but I also might be totally out of my mind. This is more of an America thing but I think it might work elsewhere.
I'm looking to roll what my parents did for 4 years before my father died suddenly and everything got messed up: the rural bailout.
My mother and my father's families were both largely from an expensive population spam city, both worked for the post office.
One day, my father was able to get a transfer to rural Pennsylvania, and my mother was suddenly able to quit her job and we had a huge house with two brothers living much more comfortably. (Gasp!)
If you can swallow it, I am looking to, as a six-ish year plan, do something similar-ish with BOTH people working, but "the opposite" in the sense of my wife earning ~10k more than me (Double gasp!) and yes, me doing, I want to say 85% (can't burn myself out with a full 100%) percent of the homemaking ON TOP of an equal number of work hours (Triple gasp!)
I DON'T want to hear any peanut gallery comments, OR a serious argument for that matter about gender (including my outer space arguments as to why the father should *mostly* stay home instead of the mother and the dozen or so scientific studies backing it up I have in another notepad window) because with a few tweaks this also applies to a totally equal setup, and I think maybe the mods would agree, any gender war is totally off topic to the actual finances, so maybe just not touch the poop if everyone can be grownup about this.
(And before you say it, all the horror story stats on female breadwinners, more likely to divorce, women 3x more likely to be abused etc, shrink to alllmost no difference when we are only looking at a $10,000ish gap and adjusting for culture, not saying she shouldn't earn more than $10,000 or anything, just that the stats are being distorted by cases of men being *total* deadbeats, or when rich bored women pick up playthings, in THIS demographic men pull their weight as best than can and aren't dicks, thank you)
But tell me what you think.
I'm thinking for my career change (from, um, a min wage rando pleb job im stuck with for the next year, year and a half) I'm going with professional baker. I simply don't think I would be good at anything else.
Here was my method:
NOT just asking Google AI a single question like a total jackass.
Paying 20/mo for a serious real estate based AI, and STILL wrestling with prompts for hours until you get something that works. This was similar to what I wound up going with:
"Where can a professional baker's salary cover 65% (just to be safe) of the expenses of a family of 5 in a four bedroom house they own, with a *lower* crime rate than (urban rat's nest you already live in), and *not in population decline.*"
I had to mess around because eventually the prompts became sooo long and specific that the AI kept just throwing away crime rates (because it was forced to look at places where it didn't have them) and complaining.
I *eventually* got it to look at "other factors that typically indicate" a lower crime rate and THEN I suddenly only had to throw away 3 of the top five as actually having higher crime when I checked the locations it pulled up against Googles AI.
But that was my step two: picking the locations it gives and double checking them against Google's AI with these questions:
"Does (insert location here) have a lower crime rate than (my current location)"
"What is a professional baker's salary in (insert location here)"
"What is the average cost of maintaining a minivan in (insert location here)"
"What are the average living expenses for a family of five living in a four bedroom house that they own rather than rent in (insert location here)"
But you throw away whatever housing/rental/average property tax data that comes up for that last one, and instead just pull up three houses on Zillow so you *at least* get a monthly mortgage estimate too, THEN:
"What are the average property taxes for (insert one specific house price) in (insert location here)" for all three
Then just crunch the numbers, they will all be ranges so you pick the lowest of each income and the highest of each expense and then…
…my current location pick involves me earning 48,000 and my wife *technically* only needing to pull in around 28,000 to meet the bare bare minimum but of course we need breathing room:
HUNGRY LIKE THE WOLF: I was cooking up numbers where, if my wife exceeds me by a *mere* 10k more, suddenly she just works for 18 years and four years of college for all three kids is paid for WITH breathing room, as long as nobody winds up going to Harvard or the Mayo Clinic.
(It's only gold digging if it's not monogamy-minded, this money is for the children to inherit and we can always draw up some kind of contract/prenub. Off topic but I REALLY want to stop the troll before it starts.)
Then finally, yeah I'm thinking an 8 year break to be the stay at home parent *just* until the youngest is in school because I am not a lazy deadbeat, because it IS better than daycare. I don't want to expect them close to gather, but the closer they are, the less of a deadbeat I have to be, so it's give and take.
She can take off to breastfeed and so she's at least not working for that, or not working uber late term pregnant (even if the experts say that's ok, I don't want to require it) BUT there are studies it's best for *both* of us to stay home during that kind of breastfeeding, so then we cheat a *little* and the paternal grandma leverages her no-mortgage ownership of a ~750,000 house in the uber expensive city (if the unspeakable doesn't happen first) for a loan or similar just to cover the gap years, not an insane ask if my mom also wants me taking care of her in her old age perhaps and to see these grandkids too.
The insane ask is figuring out how spaced out these births are and how much breastfeeding and working-while-how-pregnant we are talking, assuming everything tessellates into 3 years of me not working after 5 years of total inaction by both of us:
48,000 x 3 = 144,000
(48,000 + 48,000 + 10,000) x 5 = 530,000
Sounds like we have 100% collateral providable, but suddenly we are looking at a $4,203 monthly mortgage on top of this
I think all this math is flawed in that we wouldn't want to save up for college using this loan, we would want to shuffle that around to minimize interest payments if we could or else it's just money going around in a circle? (but my head hurts just trying to think about that)
And a simple check indicates she could learn one of 10 or so skills in a year here in this expensive city worth as much as 80,000ish over there like truck driver if she wanted to. (Again, for the children, not for me, we can probably sort something out via contract/prenub if me asking for too many pennies after doing a majority housework is totally unacceptable.)
*And* we could say that I might climb the ranks as a baker and suddenly perhaps earn more than that 5k all on my own, or pull on my custodian work history in an emergency and have a higher pay ceiling than baker, I just 1 REALLY don't want to go back to that, I believe I would be fired if I was even able to try, 2 that ladder doesn't do me when it takes what, ~10 years minimum to climb to the top of anyway. It's just *something* temporary but not totally unskilled if there's no baking jobs available.
And this is all assuming she is as ok with the career/work history hit as I would be. If she's not, this is a finance board and that would only make the finances better.
So finally flaws in this data:
-The mortgage probably varies wildly with credit history. Mine is a very late not-bad-credit-but-no-credit situation, hers is totally unknown.
-This is still all AI, we can replace *most* of the AI with the sources the AI used (the old "don't use Wikipedia as a source, but you can use Wikipedia's sources" trick) but anything from eg Reddit, or one of those weird lawyer advertisement fake reference guide sites (you know the ones) needs to go if they've snuck in.
-I only am looking at one house but I should be plugging away until I have 9 houses, three locations minimum
-All of this DOES have to hit some kind of expert/proper paid financial advisor (and maybe someone in real estate too?) in an office or bank at some point, if not multiple experts for second opinions. I just think it's best to have a starting point.
-She needs to bring in far more than an extra 10k if she wants the full "topless goth ihop" experience /s
Thoughts / errors / suggestions?
Posted by bigdonut100