Mortgage Killer Accelerator

Strategy 88 of 107 · new for the five-year plan

Host campers or a glamping pad on your land

Depends on people or program rulesFrom new cash flow, not your paycheckFive-year size: helps at the margin

What it is

Check zoning for camping and short stays.

Steps

  1. Check zoning for camping and short stays.
  2. Start with simple tent sites; add a pad, water or a platform tent later.
  3. Send the net to principal.

Repeat: Seasonal bookings.

Measure: Net monthly income.

Try it in the calculator Enter its amount in "Monthly non-income amount to principal". Add a payoff goal of 5 years to see what is still needed.

Risks

  • Liability; get the right insurance.
  • Rules on sanitation and fire.
  • The income is taxable.

Who it fits

Grandmas and grandpas (62 and over), Married couples, Single, Average household

Needs

Owns acreage or a large lot

How predictable

Depends on people or program rules (tenants, family, IRS records, lenders)

A worked example (hypothetical, not guaranteed)

Picture a hypothetical household (grandmas and grandpas (62 and over)). They owe $300,000 at 6.5% with 30 years left. The required payment is $1,896 a month, and that payment, which comes from income, never changes in this example.

They follow the steps: check zoning for camping and short stays.

Suppose it brings $150 a month on principal from this strategy, not from the paycheck. The loan would be paid off in 24 years 5 months instead of 30 years, saving about $83,919 in interest. To finish in five years, they would still need about $3,824 a month more from other strategies. That is why the five-year sequences stack several at once.

The amount above is chosen only to show the arithmetic. It is not an estimate of what this strategy will produce for anyone. Put real numbers from the fact finder into the calculator.

Sources and more information

Where to get help

Related strategies

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