Wyoming 90/10 for elk

[Lawnboi]

My opinion re housing. Depending on what generation of middle class we are talking about, I think you will see an influx in the middle class that is nearing retirement age, who bought their 1800 sf house years ago for $120,000 and just sold them for $500,000. Those are the guys that have the cash to relocate.

Unfortunately I don’t fall into that generation of middle class, it’s apparent with they guys I work with though. All making the same money and in very different places because of the year they were born.

 

[wytx]

That’s a great deal to keep Wyo residency. Live in Wyo for 6 months from June through the November hunting season and then move somewhere with nice weather for 180 days (Dec to May).

Just don't claim residency in that other state, go for it !

 

[3forks]

Just don't claim residency in that other state, go for it !

I know of two guys (friends of friends) who both received letters from the IRS and also had Montana Fish Wildlife and Parks wardens show up at their doors, asking them to explain why they didn’t file taxes in Montana since they purchased a resident hunting license in Montana, but then filed taxes in another state.

 

[204guy]

Just don't claim residency in that other state, go for it !

Also don't forget to rent it out to some "nice" locals for the 6 months you're living 700 miles away. Then evict them for the 6 months you're living their. Lol.

 

[Dos Perros]

My opinion re housing. Depending on what generation of middle class we are talking about, I think you will see an influx in the middle class that is nearing retirement age, who bought their 1800 sf house years ago for $120,000 and just sold them for $500,000. Those are the guys that have the cash to relocate.

Unfortunately I don’t fall into that generation of middle class, it’s apparent with they guys I work with though. All making the same money and in very different places because of the year they were born.

Somewhat related...I remember reading that your birth year contributed quite a bit to one's ability to generate wealth. I couldn't find the exact article and graph I have in my mind's eye, but this is close:

Home | Barasch - Wellwood Wealth Partners of RBC Dominion Securities Inc.

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ca.rbcwealthmanagement.com

 

[Bighorner]

I can't wait to see how this pans out. Please let me know when all you guys picking up and moving for an elk tag get here, I'll buy you a beer. I'll buy two if you make it more than a couple years. If you are so hard up to hunt, why not alaska? If I was putting all my chips into hunting I wouldn't half ass it.

 

[cnelk]

I’ve only moved once in my life. And the biggest reason wasn’t for hunting.

It was Weather.

If I was to move again, the reason wouldn’t be for the weather, it would be because of too many people and taxes. If resident elk tags are a benefit to that, so be it.

 

[Bighorner]

Well we have plenty of weather so you are in luck.

 

[Fatcamp]

I know of two guys (friends of friends) who both received letters from the IRS and also had Montana Fish Wildlife and Parks wardens show up at their doors, asking them to explain why they didn’t file taxes in Montana since they purchased a resident hunting license in Montana, but then filed taxes in another state.

LOL. Not real smart. Any idea why they did that?

 

[william schmaltz]

Now we have "middle class" people buying $350,000 second homes at 7% interest to hunt elk. At 20% down, that's $20,000 annually in just interest, not to mention adding property taxes ($4,000) and insurance(+$1,000). How big are the elk in Wyoming!?!?!? I could do some pretty bad ass hunting with $25,000 a year instead of giving it to the bank, government, and insurance company.......

I'm excited to see how this debate keeps evolving.

 

[FlyGuy]

Now we have "middle class" people buying $350,000 second homes at 7% interest to hunt elk. At 20% down, that's $20,000 annually in just interest, not to mention adding property taxes ($4,000) and insurance(+$1,000). How big are the elk in Wyoming!?!?!? I could do some pretty bad ass hunting with $25,000 a year instead of giving it to the bank, government, and insurance company.......

I'm excited to see how this debate keeps evolving.

All I need is a half acre plot with a pole barn to park an RV beneath….


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[tdhanses]

Just don't claim residency in that other state, go for it !

There would be zero benefit to claim it elsewhere if you qualify.

 

[tdhanses]

Also don't forget to rent it out to some "nice" locals for the 6 months you're living 700 miles away. Then evict them for the 6 months you're living their. Lol.

Airbnb

 

[tdhanses]

I can't wait to see how this pans out. Please let me know when all you guys picking up and moving for an elk tag get here, I'll buy you a beer. I'll buy two if you make it more than a couple years. If you are so hard up to hunt, why not alaska? If I was putting all my chips into hunting I wouldn't half ass it.

It’s not just an elk tag, that’s a bonus. Would you move if offered the same pay? One of the biggest bonuses is the outdoors and our public lands. In the winter snowmobiling is amazing in WY.

 

[tdhanses]

Now we have "middle class" people buying $350,000 second homes at 7% interest to hunt elk. At 20% down, that's $20,000 annually in just interest, not to mention adding property taxes ($4,000) and insurance(+$1,000). How big are the elk in Wyoming!?!?!? I could do some pretty bad ass hunting with $25,000 a year instead of giving it to the bank, government, and insurance company.......

I'm excited to see how this debate keeps evolving.

Do people think that is all there is to do in WY? Heck the income tax savings alone is worth a ton to most. The amazing amount of access to our public lands, fishing, snowmobiling, short trips to camping the list goes on, hunting is just another benefit.

Also many already have second homes, a nice home in WY could easily cover it’s annual costs as a vacation rental, even if for just the winter months it could still cover a majority of costs with the rest made up in income tax savings easily only have to live there for one year but that doesn’t mean 365 days straight, vacations are allowed.

 

[mntnguide]

Not sure where in WY you guys think you are buying a house for 350k... any of the places you mention that have ample public land, snowmobiling, elk hunting etc are in the popular places. Im guessing you don't want to buy a house in Rock springs? Or wamsutter... there is nothing remotely cheap about western Wyoming currently. My house has gained 25%+ in less than 2 years since i bought it, and back then, there still wasn't a single house around here for 350. Now the issue is not only high pricing, but low to very low inventory. Yes, if you have millions, you can find a place pretty easily. But, those that don't, good luck.

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[go_deep]

All I need is a half acre plot with a pole barn to park an RV beneath….


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Your in luck, half acre vacant lots in Wyoming are only going for $200k

 

[tdhanses]

Not sure where in WY you guys think you are buying a house for 350k... any of the places you mention that have ample public land, snowmobiling, elk hunting etc are in the popular places. Im guessing you don't want to buy a house in Rock springs? Or wamsutter... there is nothing remotely cheap about western Wyoming currently. My house has gained 25%+ in less than 2 years since i bought it, and back then, there still wasn't a single house around here for 350. Now the issue is not only high pricing, but low to very low inventory. Yes, if you have millions, you can find a place pretty easily. But, those that don't, good luck.

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But even a $700k house rents for a decent amount weekly, look what Brush Creek in Saratoga charges for a week lodge rental.

 

[Rich M]

The money is gonna dry up fellas. That 0% money is going bye bye and your vacationers will leave with it.

How can folks keep paying 1-2-3-5k per week for air b&b without feeling it?

The folks who will survive will be the ones who bought cheap and refinanced low.

 

[mntnguide]

But even a $700k house rents for a decent amount weekly, look what Brush Creek in Saratoga charges for a week lodge rental.

Are you trying to compare an Airbnb of an average house on not much property... to a high end all inclusive private ranch on 30k acres?

Pretty sure the people that stay there, could buy that 700k house without blinking an eye. So not really a comparison i take much thought into. And the majority of people looking to rent are going to be in the summer/fall seasons, not to convenient for someone that wants to be at their house for hunting season etc. Just saying, i see plenty of the "seasonal" residents, and very few are normal middle class income type to make it actually work.


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