it

When Is a Good Time to Buy a Second Home?

all right I'm gonna get to the phone

I've got to oh wow we're going up to the

Greek north right off the gate I got

Curtin in Canada Kirk how are you I'm

doing excellent Chris how are you doing

oh I'm focused and not finished my

friend what's on your mind today so my

question is I am just doing some future

planning I'm definitely not looking at

this anytime before I finished step two

or definitely not during step three but

my dream is eventually to buy a cabin so

I was thinking like when are you able to

afford to buy a vacation property is

that very baby steps four five and six

and added in you know with your existing

mortgage right or should you wait until

you're done paying off your mortgage and

on baby step seven okay now I appreciate

you reaching out and and bringing this

question to the table Kirk I really do

and here's my thought okay I like that

you know what you want for example

you're seeing your dream in high

definition where is this cabin is it in

Canada where are you thinking about it

you know in Canada probably about two

hours north of where I am on one of the

large lakes that we have in Manitoba

okay fantastic and about how much do you

think this thing is going to cost you I

would say $200,000 in today's money

okay $200,000 and tell me this how much

debt do you have left right now on baby

step two I have one car loan forty-four

thousand dollars okay and your household

income is how much a hundred and fifty

four thousand okay Wow all right so you

got a good income you got this car what

listen how long ago did you buy this car

you went out before you answered answer

me one more time when did you buy this

two years ago okay make me feel better

right there curtsy we're still friends

we're still here's what I think my

friend I'm gonna tell you this I like

you seeing your dream in high definition

Kirk I'm allergic to debt so what I

would tell you is this as you are very

intentional I want you to either sell or

pay off this car get focused you guys

are you your own a home now market

$303 I would say by the vacation

property after you pay off yours and you

can save up and pay cash for it so once

you get out of debt my friend I don't

want you to go back I want you to become

allergic to death I don't want you

looking at it I don't want you

considering it in any other way and it's

possible your income is gonna continue

to grow you get focused you pay off the

house and then you say you know what

after we pay off the house we're saving

extra we know we are gonna go pay cash

for this cabin and I'm gonna tell you

something you're gonna feel magnificent

writing that check you're gonna feel

even better going up to that cabin

realizing that you don't have

obligations outside of basic utilities

property taxes and insurance that's the

way to do it but I want you to see it

clear and I want you to stay focused on

it because listen VIPs we have an

opportunity to do some stuff different

it's amazing when we change our thinking

I'm telling you something we can change

our lives but I want us to become

allergic to debt I want us to not see it

as an option anymore it's not an option

if for example after I got done and I

paid off that SUV loan you guys have

seen it on YouTube you've heard me talk

about it here on the show once I did

that and I had that awakening I knew I

would never ever have another car

payment and I don't care if I've got a

rollerblade skateboard I don't care how

I have to get transportation

I'm never going backwards again and

there's something that happens when you

look at things that way you see it

differently and you become clearer but

don't think for a minute that you can't

chase down dreams and do it with cash

I'm hearing it from people all across

the country so I want you to believe

that you can as well