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Byron's Forum Posts: 19
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By Byron in Lebanon, IN on 6/2/2006


In putting together some material for a financial retreat that I am doing for my son, I created a spreadsheet that covers the step-up strategies outlined in Chapter Two of the OBB and allows the user to input different numbers for the variables to see how it impacts a step-up strategy.

You can access the spreadsheet at:

blawblawblog.com/stepupscheduleplus.xls

The first sheet shows the shrinking payments. The second shows steady payments. The third sheet shows how the money grows if you take the liquid funds after paying off the mortgage and invest them. And the fourth sheet shows how the money grows if you do not pay off the mortgage, but instead pay the minimum each time and invest the liquid funds. Don't forget if you were to go either of the last two routes, you most likely would take advantage of an ARM with its lower interest rates if you are planning on selling every two years (so be sure to adjust the interest rate input accordingly).

I am probably going to demonstrate to my son how if he saves well while he is a teenager, he can start O-B'ing when he is 18 (even if I have to co-sign) and get a head start to building wealth over other people his age. This of course assumes that he is demonstrating a level of responsibility that leads me to help him with such a serious matter.

Go ahead and review the spreadsheet, play around with it and if you think it needs corrections or if you have questions, feel free to let me know.


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By Michael in Cave Creek, AZ on 6/5/2006


Your financial analysis shows that owner building works. The O-B Book shows that Owner-Building works.

One of  the best ways of showing that something works is by example. My first O-B project would be a good example. The land was bought in early 2004 for less than $100K, construction costs were under $300K.  When the house was done, I took out a mortgage on the house in Summer 2004, for $400K and used the difference between the mortgage amount and the construction cost as a down payment on a new plot of land.

In 2005, I split the 2.5 acres I purchased into two 1.25 acre parcels, and sold one. I kept the remaining lot and am just completing another custom house on it. I currently owe about $250K on my second O-B project which just appraised for $769K. In June we will be selling the first O-B project for $700K, which allows me to pay off the loan on the first and second project and be free and clear in two years after two projects.

But, I like doing this, and will probably take out a small mortgage so that I can buy more land and do it again.

The keys to success were choosing a location with rapid appreciation (also known as luck??) and attentive construction management.

If you do it right you can be free and clear in as little as two or three projects.


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