Taking Equity out of Home to Go on Guided Hunts

[RdRdrFan]

My boats, cars, snow machines, education are all paid off. My mortgage is on a 2.1% rate and will be paid in full in 3 years.

Also I never judged the OP, just stated an opinion and made it clear that I believe it’s his life and his choice.

stop being so sensitive.

Original post was judgmental of the OP. To say otherwise is disingenuous.

Doesn’t matter what the terms are on your mortgage. If you utilized any money for boats or snowmachines (unless they are used to make money) then you are being hypocritical as long as you have a mortgage balance.

OP just did it better. He paid off his house FIRST. You used money that could have paid off your house on toys. Now that he wants to access equity everyone goes crazy.

 

[thinhorn_AK]

Original post was judgmental of the OP. To say otherwise is disingenuous.

Doesn’t matter what the terms are on your mortgage. If you utilized any money for boats or snowmachines (unless they are used to make money) then you are being hypocritical as long as you have a mortgage balance.

OP just did it better. He paid off his house FIRST. You used money that could have paid off your house on toys. Now that he wants to access equity everyone goes crazy.

But my mortgage is 2.1%, it’s free money. The op hasn’t taken a loan out to go hunting yet, if he does, then I’ll judge him. Until then, I’m just talking and giving my opinion like the OP asked. It’s sweet of you to stick up for the OP though, you’re a nice guy.

 

[RdRdrFan]

But my mortgage is 2.1%, it’s free money. The op hasn’t taken a loan out to go hunting yet, if he does, then I’ll judge him. Until then, I’m just talking and giving my opinion like the OP asked. It’s sweet of you to stick up for the OP though, you’re a nice guy.

Not sticking up for him. I just find it humorous that people don’t really understand that they are being hypocrites when they throw rocks at the OP’s plan.

I don’t begrudge you having a mortgage. I don’t care one way or the other. But it’s not free. Still costs you money.

 

[thinhorn_AK]

Not sticking up for him. I just find it humorous that people don’t really understand that they are being hypocrites when they throw rocks at the OP’s plan.

I don’t begrudge you having a mortgage. I don’t care one way or the other. But it’s not free. Still costs you money.

Yes, it costs me money, I even pay extra on it each month, our 15 year mortgage will be paid off after 6 years (half way there).in addition me and my wife max out our retirement stuff and are able to put 6-8k into savings each month. When I wanted a boat, I waited until it fit our plan to be able to pay cash for it. Same with all my other recreational vehicles. I’ve always been of the mindset that there’s only 3 acceptable things to take loans out for. Education, houses/properties and emergencies.

All that being said, I think taking loans out to go sheep hunting is batshit crazy but since I’m a hypocrite, I’ll say that sometimes I think I should have done it back 7-8 years ago when some hunting/finance company contacted me about financing 30k for a stone sheep hunt.

I still think it would be stupid but at the same time, it would be paid off and behind me now and I might have a stone sheep on my wall.

What do I know though, I’m some random dude on the internet typing stuff at home on a Friday night.

 

[MuleyFever]

What do they take when you can’t pay back the 60k you borrowed to go sheep hunting?

They take the 60k plus fees. OP walks away with 1.4M and lives happily ever after.

 

[MuleyFever]

Yes, it costs me money, I even pay extra on it each month, our 15 year mortgage will be paid off after 6 years...

You say financing a hunt is not a good idea while paying extra on a 2.1% rate rather than invest that money in a CD or high yield savings account at 5%. Sure, the overall cost may not be the same but goes to show we all have different values and yours may not make the best financial sense either.

 

[thinhorn_AK]

You say financing a hunt is not a good idea while paying extra on a 2.1% rate rather than invest that money in a CD or high yield savings account at 5%. Sure, the overall cost may not be the same but goes to show we all have different values and yours may not make the best financial sense either.

We also put money into CDs and high interest accounts. We make a lot of money, mid 40s no kids. I agree, I could manage things better but I didn’t come from a rich family so I’m still learning how to handle large amounts of money.

You mention values, that’s all I’m really commenting on. To me, I think that borrowing money for things like hunts is ridiculous when you could save a bit then go but again, I’m nobody, just a dude on the internet with an opinion.

 

[MuleyFever]

We also put money into CDs and high interest accounts. We make a lot of money, mid 40s no kids. I agree, I could manage things better but I didn’t come from a rich family so I’m still learning how to handle large amounts of money.

You mention values, that’s all I’m really commenting on. To me, I think that borrowing money for things like hunts is ridiculous when you could save a bit then go but again, I’m nobody, just a dude on the internet with an opinion.

We are all here to share options. Point may be to not criticize others while we don't make the most prudent decisions either.

 

[thinhorn_AK]

We are all here to share options. Point may be to not criticize others while we don't make the most prudent decisions either.

Again, I’m not criticizing anything, the guy hasn’t even made up his mind.

 

[MuleyFever]

Again, I’m not criticizing anything, the guy hasn’t even made up his mind.

I think he has his mind made up already. I really hope he shares the outcome with us.

 

[cbeard64]

I had a mortgage when I went on my first 2 sheep hunts years ago. And a note on some ranchland I bought. That first hunt was really a stretch because we also had two small kids at home. That Stone hunt was $9500 base cost plus a $4000 trophy fee. Total cost was right at 15K.

I’m debt free now but I’m still pretty dang glad I went on those hunts given that they cost about 35K total then and they cost about 130-150K today. In fact, I wouldn’t do them at today’s prices.

You can’t stop living life just because you have debt. I knew I could afford to do those hunts because I knew I had enough income to take care of my family, service my debt, and pay for those hunts. Really no different than folks who have mortgages, families, and buy new vehicles every 2-3 years (or go to Disneyland or whatever). It’s all about priorities and some folks place sheep hunting up there as a pretty high priority. I did, and I’m glad I did.

 

[ericthered]

Do it. You might get cancer, covid, divorced, hit by a car, etc...a million things could derail your plans. Do it now while its in your power to do so.

 

[Bowfinatic]

You have a ton of equity in your house. Go live life and have adventures and memories that will last forever!

 

[Mike D Texas]

Just the fact that we are talking 6 figures to shoot 4 animals is just insane.

And how does one pay off a $1.5mm house and not be able to cash flow this, albeit over a few years?


Sent from my iPad using Tapatalk Pro

 

[diamond10x]

I say do it! You've gotten to this point in your life where you can, no reason to sit on the sidelines any longer than you have to. Especially if your wife is supportive of the decision, no reason not to. Then you can come back and beat all the haters and naysayers over the head with pictures from your awesome adventures that they're too scared or unwilling to do.

My only advice, if you have kids, maybe take them with you as an observer on one of the hunts to share the experience with them. Memories are really the only thing that lasts.

 

[kad11]

If anyone wants the struggle, I can point them to a HT blacktail hunt and a draw area for caribou that puts one in sheep and goat country. One of those areas is enough of a struggle most people will not even go their for goats. No guide needed for caribou and blacktail.

Alpine black bear can put one in the same country in the fall.

With a pack, boots, and some will, a person will not see another human for the duration of the hunt and no fixed wing can get you into the country.

Cost will be about $1K for round trip to AK; $160 for a nonresident hunting license; $650 for a caribou locking tag, or $450 for black bear, or $300 for black tail; cost of a rental car to get to the trail head. One areas needs a boat or plain to get to were you start walking, so that would add about $2K in transport.

PM incoming

 

[cornfedkiller]

He is booked into 2028 but my understanding is that he is only locking in prices a year out.

How does that work? What stops the outfitter from taking a deposit on a 2028 hunt and jacking the price up to a stupid(er) price a year before?

Anyone that wants to send me a $1000 non-refundable deposit for an Iowa whitetail hunt, I will lock you in for a spot in 2028. I'll let you know what the price is in 2027...

 

[MattB]

How does that work? What stops the outfitter from taking a deposit on a 2028 hunt and jacking the price up to a stupid(er) price a year before?

Nothing at all.

You book a hunt and pay a deposit to lock in the year of your hunt and the outfitter dictates the price a year before your hunt. NWT dall hunts went from the low/mid-$30K range this time last year to the low/mid-$40K range in 12/23. No rational outfitter is going to lock in a price 5 seasons out.

 

[Mojave]

There were zero Alaska, NWT or Yukon dall sheep outfitters at Jagd and Hund. The Alberta outfitters association had 3 or 4 booths.

I do not have any advice on prices.

 

[HornPorn]

Well, I did it. I have booked all 4 sheep hunts:

Dall in NWT $36,000 2024
Stone in BC $85,000 2025
Desert in Mexico $55,000 2026
Cali bighorn in BC $120,000 2028

All outfitters have confirmed in writing there will be no changes to these costs....I am locked in per our contracts.

I am certain that by doing these hunts over the next 4 years, and paying back my loan back shortly thereafter, the math will speak for itself, and that I will be patting myself on the back in 15 years when people are still whining about how expensive sheep hunts have gotten. No telling what they will cost then. Reading everyone's 2 cents has been entertaining, regardless of if they were supportive, critical, or downright rude. The world is full of opinions and personalities, and the internet makes them much bolder than they would ever be in person. I hope you all have the courage to follow your dreams, whatever they may be, and in a way that helps you sleep best at night.

Cheers,
Horn Porn