Two Ways Poor People Can Get Mortgage Free with No Money

Two Ways Poor People Can Get Mortgage Free with No Money



did you want to be 75 and still paying a mortgage today I'm going to talk about how we both became mortgage free my son and I two different ways and we're going to talk about that and explain it let's go welcome to Becky's homestead today we're going to talk about being mortgage free we're both mortgage free me and my son Scott who I work with we both became mortgage free in different ways so we're just going to cash we talk about the benefits of being mortgage free and how it's such an awesome thing to try to accomplish that because you don't want to be 65 or 75 years old and having to work still and worry about that to pay a mortgage and you can get mortgage free at a young age yes you can I started encouraging both my boys to get mortgage free at a young age when I was in my 30s I started thinking about that because I saw family members that were old older in the retirement age and their I didn't have anything they didn't have a home one was was in a camper although it was a nice one I was just letting room like that's not what I want to be like when I get older so in my thirties I just started reading about being mortgage free how to be debt-free and all that and I just fully started taking steps so I'll quickly tell you the way I became mortgage free and then he can do the same I became mortgage free by selling a home I was in while I was living there was fixing it up to build equity so I could sell it and then get the equity money from the home and then purchase land outright which I did and then this cheap little log cabin kit I did the same thing knowing I had to do all the work and build it and improve the land and you know whatever because what a lot of people do is they'll sell their house and then take the equity and put it as a down payment on a new way more bigger house yes yeah they'll upgrade where what you did was you took that equity and you used it have a small modest out a mortgage free I actually downsize because I thought about it as I was thinking about how to become mortgage free like what do you really need and you have to shoot forward to when you're older what do you need when you're 65 maybe you could say what do you need when you're 55 65 75 85 do you need this big huge house with you know a million rooms in it and three bathrooms and all that stuff I mean it is very sometimes it might be sad to some people to think of that you know when I'm older what do I need but really if you do that you can position yourself so you're healthier more active and have a happier life when you're older because you can concentrate on the things that are fun and important to you because you're hard-working years are behind you then so it's actually improved your life if you can mentally focus ahead and then get yourself in a good position I started thinking about that in my 30 so I wanted to encourage my children to do it even younger because I thought about you know paying rent my whole young adulthood and I was just like wow imagine if my boys could be mortgage free even younger what an awesome life they would have housing housing is your biggest biggest expense and worry as well your biggest worry a lot of young people what they'll do is they'll be renting and living with five roommates who or they'll run out and get a huge mortgage on a house that he can't afford I just saw a video from another youtuber who talked about how his plan was to let me just buy the big forever house in my early 20s and we went out and he bought a huge like four bedrooms super duper huge house in a fancy neighborhood for like two hundred fifty thousand dollars which is actually kind of a good deal but still way more house than he needs and he's living there alone still though and he was talking about how it was like a huge mistake and he yeah I bought the house it needs now absolutely old I'm gonna have a wife and four kids one day let me buy and it's like how do you know that you don't really know that and that's what I say go small you can always add on he would have been much better off buying a modest home on a piece of property that would allow him to expand the house if he needed to in the future or even if you have a huge family at that point then just do another modest house that's not two hundred fifty thousand dollars yeah that's just so ridiculous to get yourself into that position adjust your tiling stress on your own back it's like and so you're not being your own best friend you're almost being your own enemy when you're piling stuff on top of your back like that it's just the upkeep of a house that big oh goodness Adele you think when you're buying it oh it all looks so new and perfect it's no upkeep oh yes it does believe me it's surprising how quickly your life oh this coming loose I need to fix that or like oh the paintin wore off that I need to paint that again and it's endless obviously you know when you own something you have to keep fixing it okay so now we're so excited talking about all the benefits and everything I'm going to tell you a little bit more how exactly I did it we were very poor of course I have these kids were little you know my kids were little kids then so it's a first step I just thought oh I'm going to get a house I had no thought of being mortgage free or anything I'm like just oh I just want to get a house so being very poor I did the FHA mortgage you know I found a real estate agent that would help me do all that because I didn't know anything so she does the paperwork helps with the paperwork and then direct you financially you know pay this bill do this do that step by step which was such a great help she was a wonderful woman on there for her name was dotty and she was so nice but anyway so she you know hooked me up with the Builder like she knew everything it was wonderful experience so then I chose I wanted to choose the cheapest house in a list because they actually give you a list of a choice of four houses from this smallest cheapest little house to the biggest house you could possibly afford we're having a health built with the mortgage I was having a house built with a mortgage but I wanted a brand-new house at that point in my life so that's I didn't think about being mortgage free at that point so I wanted to choose the cheap house and she said no get this next one out the second one up which is good if you want to sell you know it does give you a little more value so okay I listen to her though because she didn't steer me wrong yet I think if she knew what she was talking about which was still modest town 3-bedroom 2bath and it was 1,200 square feet you don't have to get you don't have to get the bottom of the barrel yeah which I did you don't have to get the top of the line I like to get not the bottom but one step up and that's exactly what I did yeah that's exactly what I said so anyways yeah yeah yeah blah blah blah got the House bill was on a you know a current a quarter very nice house ended up wonderful so then we're all settled in we're living our lives so what I'm starting to thank room this is a 30-year mortgage and my husband was older than me obviously he's older than me and so I'm like hmm he's going to be 72 years old and paying a mortgage I'm like bad dogs so then I was like I want to build the house you know I was just starting to feel like I wanted you guys you guys would still be paying your mortgage right now I know so I was thinking you know my husband's going to be 73 years old and paying a mortgage I was just like oh boy it is just an awful thought so that's how I started you know think about being mortgage free because it's so funny having the house I was satisfied and it was safe and new and blah blah blah but financially speaking I was like blueness still is the best position to be in so then I talked about selling the brand-new house and living in a tent in building a little tiny log cabin live there and make Panasonic I were say seven years nothing happened quickly things don't happen what happened cool I know you sold it right before the market crash oh I was thinking it was a brilliant move on my part it was a good move oh that was such a good move because I knew I knew trouble was coming so I was thinking sell now or actually sold at the peak of the market yeah got a really good part I didn't get a huge good price because again it was a modest house but I did the best house could do for me for sure my father would have waited a few years in the market crashed we I would have lost I would been available I might have been upside down on the mortgage are just right that's why it was good you were in a modest house then mm-hmm because even if you had to wait it out you wouldn't have been dying now I can't say this enough you know some people might say why could have stayed there just paid the mortgage off quickly because it was only a 70 to 72 thousand dollar mortgage which in today's standards sounds so so cheap but in all fairness we were a very very low-income family like we were barely paying the bill and raising the children in the country yes be more homesteading yeah I knew that I felt that so I was just you know just thinking this brains just moving so I was like I want to be mortgage free I want more room for my animals and I want to like garden have chickens for eggs like raise more of my own food so in the meantime though I have to be brutally honest my husband was like oh we have equity in the house let's to get other equity loan and I was like the stubborn legal wife I'm like no I'm not signing I am NOT doing it and we would fight about that often because a lot of times you're like it's a pile of money sitting there you want to get your hands on it through the equity loan I was just like no no no no I like and I told them I'm like because when we sell the house we'll have nothing and that was the whole idea this house I was trying to use the house in the stepping stone so when we sold the house I sold it for 130 we had money you know after paying everything out I had to say that's a really good that was a good method deal yeah that was a good move yeah that was a good move though house flipper shows they don't make fifty thousand fifty to fifty two thousand Dec we don't make how much 135 yes that's right that's Rowdy right that's so you guys got a really good I did we did a good deal anyone and another thing is the real estate agents suck all of the houses selling that fast lower the price and I literally thought about it I said no I'm not going to lower the hot price I'm going to raise the price and I actually raised the price and that's when I sold the house Oh sometimes you got to think about it you know it's too cheap before I like what's wrong way yeah some people might wonder you know what I mean you got the all the house you got the equity but before I sold the house I had already purchased this land I had already been looking and found the land so it wasn't like I just winged it sold the house and like oh like I already had this land it was just sitting here I had been paying on it for a couple years few years you know was just sitting here every so often I'd come up and just look at it and dream and so I I had a place to jump to my next foothold was already carved out so that is a lot of planning the good move good move to buy your land before you make a big move yeah so that way you have a firm foothold to move to this demo jump – absolutely right so you have to have that foothold in place that's my advice otherwise you're just spending your money because you're in limbo at that point you don't have your house you don't have your land you're in limbo and your money's going out you're having an event then you'd be rushing and you might money you might not get people ready make us a decision so you sold your house you had the equity you had your land already moved up here and you build your house if people can watch our other videos to talk about you actually building the cash and literally that's what I did like pulled over in the car on virgin land and I was just like I'm either going to camp it was pouring down rain sleep in the car until I can get a little shed to sleep in or something like I knew I was going to rough it it was gonna be a lot of work but I don't know honestly to me I looked forward to that it was like such a wonderful adventure I wasn't like dreading that I was like yay like let's go this is going to be fun so that's how I approached it even though you know I knew it was going to be a lot of work and I had to read books and learn and everything whatever I tackled that as a fun adventure and it was it really was with awesome so now let's tell people how I got mortgage free to young age because you did it as a dull yeah with a family years of a late thirties I'm going to talk about how I got mortgage free to yell my plan from starting out from zero also coming from a very poor family so the first thing I bought land at a very young age well all my friends were buying huge cars you know fancy cars and huge car payments I had a junky old 1972 Toyota but I bought my land I was making payments in my land and not my car let me just interject this in here which is hard for a young man because well you can't see the land he bought everybody's driving around in their nice car so you know it's kind of hard where it's like it you have something of value but it's not something flashy that you can see at this point and while they're driving young guys driving they're nicer cars where you can see that flashy thing it's like you got to have a little fortitude to stick to the plan and you know continue on which he thankfully he did so the land was a really great deal and it was kind of like almost for sale by owner but it was through a small company like a small land company I love small basically for sale by owner so I was just making payments to them on the land and after a few years I was able to get a loan from the bank to build my own hat myself which when I think back on it I'm like how in the world that I even make that happen and the only thing I could think of is that was also before the market crash and they were giving Alone's to everybody so I was able to get this loan from a really nice Bank to build my own house so I got the engineer got the blueprints and they didn't give me the money or once they give it to me in sections as I was building the house so he would give the bank guy would just give me little pieces at a time as I was building the house and getting different sections finished mm-hmm so I just which is a construction loan they Concepcion they call that just so people know so I just step-by-step I built I built my house it's a small modest house and I did bit by bit and so then after all it was done then and them the construction loan turned into a regular mortgage after the house is finished I got the final inspection and so then I was just making payments on a normal mortgage why when I set it all up at the beginning I said it has to be a fixed interest rate and a 10-year law oh yeah I wasn't going to do 30 years or variable interest rate which they tried to push me on try to sell me that'll do that because that makes them more money as lower payments and blah blah blah is like now I want a 10-year mortgage with a fixed interest let's say that never never never get a variable interest rate ever get a fix what I say is if you can't afford it on 10-year mortgage you can't afford it so you have to cheat you up to figure something out and change your plans if you're say oh I can't afford a 10-year mortgage the pain which is too high well then you need to change something and so I just paid on my mortgage and I was actually able to pay it off in nine years and now yeah so now here's mortgage free younger than I was able to get mortgage free so that was my goal now we have one more to go James we're trying to get him word it's pretty key which you know he sees us now and it's so funny because I do think he feels the desire now he's starting to think about it now my brother has been ranking it yeah whole life yes and X you sold back a soul when you get a little older yes through your 20s you know your John you having fun you might not be thinking about that but once you're in your thirties you just like you know this kind of sucks I don't want to be doing this the rest of my life and so you start thinking about it so you know even if you don't get going in your 20s and get a jump on it it's fine you know you can start in your thirties I was in my late thirties so whatever whenever you got to do it you just don't want to be 65 75 paying a mortgage that's your goal it's just awful I see people doing that and I honestly I feel sad I feel sorry for them I'm like what stress to be older and methods are unhealthy or anything they're alive and vibrant stuff but you know you just like how bad is there at that age and like they haven't figured out how to get anything accomplished in being position and a lot of times I think it's not that they didn't have the ability I think it's just they didn't think about it you know they were just going through life Jill I can I don't know what I want to say just stuck in gear you know just going through lies they just didn't think about it so that's why we do these videos we're trying to get people to think about that and when you see all your friends and neighbors going bigger flashy or more expensive it is so tempting hard to say no I'm going to go smaller more modest more affordable yes that you have to go the opposite direction of the flow yes I mean I'd be lying if I didn't have those moments where I was just like I want that and you know I was in a pretty good position so I could have done that and it I have to admit and more than once I've had those feelings but I thought you know what's better bought myself back and didn't do that you know what's better than a big fancy house is free time yeah I'm letting dressed kind of disposable income yeah yes and if you can think you look better than an extra study room where you can make a man cave in it yeah or big soak for the furniture okay a man cave you can never hibernate in because you're always exhausted painful you might sit in there with you're not going to see you're not going to be hibernating spending any qualities I once a week the two hours yeah exactly I'd rather have a smaller house and hibernate in it that's such a good point watch a lot of my videos we do talk about a lot of different things through the videos and you should tell people to read your book back east guys yeah and land so you can learn from all of our experience all my mom's experience buying land did you do a good piece of land and have a good jumping-off point because I just figured it all out myself you know and I know there's a lot of people out there that might comment in the comments that that's not the way to do it above like we're openly admitting there's more than one ways you can both still our own house a different way and everybody wants to work and build own house right there are ways to be do the exact same plan run but you want to build your own house you can you can find if you know where to look and what websites to shop on you can find out amazing deal and modest smaller property houses where you can get a mortgage this modest house you can pay off in ten years exactly you don't there's there's more than one way to skin a cat what we're trying to encourage people to do is just start thinking because whatever your situation is you know you got to find a way out and a way to your destination of being mortgage free so it's just to kind of you know get you motivated and have you start thinking and then just give you ideas because that's what things stem from you know I the ideas pops in my head I was just sitting around looking around I could start thinking about it but nobody had told me a younger age and had I seen something I might have made a move quicker you know so it doesn't matter just our videos you can just watch them and they can just give you ideas and whatever you don't even have might not even have to move you can just improve where you are and you know make adjustments become debt-free and start kind of homesteading where you live okay so we just wanted to tell you that you can become mortgage free those different ways to do it but it's definitely very doable let me know in the comments what you would do if you were mortgage free thanks to all my patreon supporters I couldn't do these videos without you if you'd like to become a patreon supporter and get special perks and rewards the link is in the description below if you enjoyed this video here are the playlist with some more homestead videos you might enjoy thanks for watching happy homesteading bye bye I wish staying up normal do you want to say do you want to be 75

34 thoughts on “Two Ways Poor People Can Get Mortgage Free with No Money

  1. True… Even the Bible says to- NOT be a debtor..and Jesus says.." my yoke is easy and my burden is light.".. also. In proverbs… a young man needs to work and so number his days….therefore work the hard things first ..to enjoy your age when you get into senior years..it will free you up to help others

  2. Love this. I would have a big enough homestead to build a few tiny homes/cabins for my kids to come stay. We all have at least 4 dogs and cats and have an impossible time getting together. I would love to have each tiny house/cabin have it's own yard. Also, a dog park. A garden. A fire pit and gathering commin room.

  3. why cant you use the words "low income" instead of "poor"? your titles are inaccurate because theres no such thing as free mortgage with no money

  4. My husband and I bought a mobile home in 2005. Painted, new carpet. Have made small upgrades over the years. It is the best looking one in our neighborhood ( not a trailer park, not knocking them). I had no idea there was a lot of stigma that came with living in a double wide. We do have some neighbors that are junkie, but I think that can happen anywhere. I think some people don't come around because it's not "fancy" enough. I hurt my back in 2010. I was forced to stop working. I do receive my SS, but it isn't nearly as much as what I was making, but am so thankful for it! If we had a huge house with a huge mortgage, I don't know what would have happened. We have one more year until it is paid off. A few times I admit that I wish I had a fancy house, and I know that I am blessed to have what I have. But after watching your videos I feel even more blessed. My husband will be 57 when it is paid for. If we would have went for a 30 year with a bigger home we would still have 15 more years to go. That is awful!! Paid for sounds great!! We are SO looking forward to it. Will be stress off our backs! Thanks for sharing your story 😀

  5. Becky you are awesome. Thanks for all you show us. My mother sold our family's first house and when my father came home from work, she told him he had to find a new house for the family!

  6. you guys are amazing. you were the inspiration for me , getting my land, the house is falling down lol, but its liveable and im living it while created my own Eden on the land, and mortgage free because it was a cash deal , flat out paid it all, very cheap with the house in the condition it was, but i could resell right now, and make double what I paid, but im in it for another couple years to add value to it, and it will be my stepping stone to a bigger plot of land maybe somewhere warm.
    I thought at my age, 48, then when I got the land, it wasnt possible, but following you, and taking it in babysteps, I did it!
    Thank you sooo much for all your tips, website, everything. I just got three new baby chicks to add to my flock I got last summer. Here comes the spring, time for planting!! Wooohoooo! xoxox

  7. You guys are so cute! She’s so proud of her son and what a great mom and son!
    I really enjoy your shows, especially how to raise chickens (really great advice!) and some land buying advice to horses.
    Please do more of a day in the life of homesteading, love animals and all of your plants, trees and great food!

  8. thank you. I was thinking of moving to florida and buying a home with 3 or 4 bedrooms. but you are right… I don't need that. I can buy a two bedroom .

  9. Same thinking just gotta find the land I turn 42 in April and I figured if I buy land build it myself and by 50 I could relax in life!

  10. I've been saving a good chunk of my wages over the past 2-3 years and I just got a 10% pay-rise so while I want to quit my job so badly (reason I've been saving) I'm forcing myself to stay here one more year because with the pay-rise and by cutting out a couple of the luxuries I still indulge in I'm pretty confident I can buy a nice plot of land and a two bed cabin which I can call my own soon. People think I'm crazy and say I'll have no free time on a homestead but I have no free time now and I have nothing but money to show for it. As someone who's not materialistic, this brings me no joy. Thanks for sharing your life with us Becky, you resonate such pure happiness and are a true joy to watch!

  11. When me and my wife reached our early 40s we realized what a waste our debt was. We wanted out of the rat race by living as debt free as possible. Our home was built in 1950 and isn't the most efficient so we're working on that as we go. We came up with a written plan with goals and a timeline to help keep us on track. She quit her 40hr a week job to start her own business and work part time. My job pays more and has a fantastic 401k that I can barrow from at 3% interest.when we have enough in the 401k I'm gonna pay off all our debt,including our remaining mortgage, reroof the house,install modern double hung windows,and then join my wife in her business. We both can work 20 to 30 hours a week instead of the 50 hours per week that I've worked the last 25 years and be our own boss. All I want is to get to go fishin when I want and spend time with my grandkids. My dad didn't retire until he was 71 and didn't get to enjoy his golden years. You don't get those years back!

  12. I wish i had parents that knew what you did when i was much younger. I am thinking about buying land and going all in and if i have to sleep in my car in a tent on my property then so be it. I am tired of paying a mortgage

  13. I bought a 5 acre property off one of my family members I will have paid off by next year 😁 getting my Little homestead ready and learning alot from you thank you 😀

  14. Love this video i wish i had looked at this video b4 because i am in limbo trying to find land and get a small place to live.

  15. Thank you Becky this is where i am at 71 years old. I want to be mortage free. I want to downsize to a small home and be mortgage free. I do not need two acres. Thank you i needed this info and pass it on to my grandchildren.

  16. I have watched almost all of your video's. I will admit you're like one of my heroes. I have been renting my house and starting a farm. I want to do videos as well. Raising my own food has always been one of my dreams. I would love to pick your brain 🙂

  17. You are a new breed. From the city going back to the country. What a treat. Thank you for sharing your wisdom!

  18. This is an awesome topic and certainly something to work towards. I agree with modest living. However $250,000 is chump change where I live 😅 and 10 year mortgage would be impossible! We are still working towards paying off our modest (for our area) house and then move outta state somewhere less expensive. Been enjoying your latest videos Becky, your style and voice is nice and calming. Thanks for posting. Blessings, – Katrina

  19. I'm 25, sick of paying rent already, don't want a big house or the pressure of a huge mortgage. A 4 year car loan was daunting enough for me lmao.
    I want exactly the life you have, but I had no idea where to start. Your videos are lifesavers!!

  20. I’m 46… don’t make much, divorces, etc .. wish my parents (or ANYONE) would have told me this 20 years ago.. my bf is 49, same thing… divorces ruined both of our credit along with bankruptcies in our early 40s. With a few thousand down, we purchased ($65,000)on land contract a small house on almost an acre. Paying $500 mo in northern mi. The goal is to have this house paid off between three and four years by throwing extra at the monthly payment. I watch a lot of your videos and I’m starting to use a lot of your soap recipes and such to save money. When I was married I also had to have the big home and the nice cars..I believe you have to be humble and realize you don’t need those to live.. I am much happier now even though we do have a mortgage, it’s very cheap, I sleep great at night knowing that even with a small part time job either one of us can pay the mortgage and that it will be paid off in a few short years and we will be mortgage free. We haven’t decided if we’re going to stay here for the remainder of our lives or sell the house make money and do what you did with the land and a construction loan. But either way we will be much happier thanks for your videos.

  21. good job listening to your parents!! I'm in my late 30's and have now changed my plan for my next house. Love ya Becky!!

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