Loan for hunting

[Addicting]

I doubt they’d loan the money to anyone who’s a risk of not paying it back.

Does anyone know if you can just walk into a bank and get a $30k loan without any collateral? Or would you have to put up your house or some property as collateral? Maybe get a home equity line of credit?

On a personal loan I doubt it. 30k wouldn’t be the loan amount anyway. I just used that in the start of the thread as it’s probably close to the total for to for cost of a combo hunt like that.

If someone ended up having to it would be with some collateral. That is the only way to get the interest in an acceptable range.

 

[DouglasR]

I doubt they’d loan the money to anyone who’s a risk of not paying it back.

Does anyone know if you can just walk into a bank and get a $30k loan without any collateral? Or would you have to put up your house or some property as collateral? Maybe get a home equity line of credit?

And I’m pretty sure they’ll deposit it directly into your bank account no questions asked.

I personally try to save and not get upside down on anything that isn’t secured, but at the same time, as the meme says, there’s people parking their boats inside of boats so is 30k really that big of a deal and is money real?
But I’m also not trying to build or support multi generational wealth like a lot of the guys on here.
That would make you think about it differently.

 

[Deleted member 28227]

I doubt they’d loan the money to anyone who’s a risk of not paying it back.

Does anyone know if you can just walk into a bank and get a $30k loan without any collateral? Or would you have to put up your house or some property as collateral? Maybe get a home equity line of credit?

If you want to really to max out your stress and anxiety you could put it on an CC with a 0% interest introductory period and then when that period ends open a new card with a zero interest introductory period and free balance transfers and move it all to the new card.

Keep the old ones open as they will decrease your utilization percentage and therefore moderate your credit score hits as you open new cards.

Actually seen this one work for someone… can’t imagine doing it myself.

Absolutely disaster to clean up when they die as the executor.

 

[Irrelevant]

I'd go for it and take out a loan if you have your heart set on it. Set up a side hustle or just pay it down. People buy vehicles that are worthless in 10 years.

Those hunts are not getting any cheaper, and demand is way higher than supply for about everything.It's stupid what they go for now. I've guided bou hunts in AK at $14,000 now. Those "mountain" caribou hunts are really expensive. You can hunt the same ones in AK for much less. They're the same bou...

I'm considering the same, but taking the family to Tanzania or similar. Life is too short.




Those are fighting words. Moose is probably the most boring hunt you can do in AK on a dollar to experience value, IMO. 10 days of looking at the same 3 hillsides in nasty weather gets old really fast. I've only been on half a dozen flyout moose hunts and a bunch of others off the road, but I 100% would rather hunt sheep caribou or deer over moose given the choice. Moose hunting is an afterthought for me.

Everyone had their own expectations and experience.

A couple of things I've noticed in my exceptionally limited time in AK.

Moose hunting requires moving a ton of meat, literally, it can be a low density hunt, so you're both not seeing much at first then have a terrible time after pulling the trigger. It's not all that appealing.

Sheep, at least where I was at there were plenty of then around, but when it would get down to shooting one you're trying to decide if the horns are xx" or xx+1". If that little bump is an annual ring or not. I mean that's not really a ton of fun either, and the stakes are very very high if you make a mistake. Again, doesn't really sound all that much fun.

Caribou seems like the only one that might be fun. There's lots of them. Big antlers. And they're not terrible to pack (I assume).

 

[Deleted member 28227]

Also witnessed a guy borrow 30MM against his shares in the company he was working for… he cheated on his wife and things detonated epically.

 

[Addicting]

And I’m pretty sure they’ll deposit it directly into your bank account no questions asked.

I personally try to save and not get upside down on anything that isn’t secured, but at the same time, as the meme says, there’s people parking their boats inside of boats so is 30k really that big of a deal and is money real?
But I’m also not trying to build or support multi generational wealth like a lot of the guys on here.
That would make you think about it differently.

I constantly see small businesses go under and the owner springs up in another one in a few months. I don’t know how that works but if debt and or defaulting on a business loan is so bad how do they keep doing it?

 

[DouglasR]

If you want to really to max out your stress and anxiety you could put it on an CC with a 0% interest introductory period and then when that period ends open a new card with a zero interest introductory period and free balance transfers and move it all to the new card.

Keep the old ones open to boost as they will decrease your utilization percentage and therefore moderate your credit score hits as you open new cards.

Actually seen this one work for someone… can’t imagine doing it myself.

Absolutely disaster to clean up when they die as the executor.

View attachment 258500

Had a high school teacher who claimed he paid for college this way.
I’ve run the same scam on a smaller level.

 

[longbow51]

Good thoughts here.

I would never, though, "pre-fund" with an outfitter. He may go out of business if there is a recession, he gets injured, or just, as most folks do, by poor money management.

And I've been to AK to hunt caribou.

 

[Addicting]

Good thoughts here.

I would never, though, "pre-fund" with an outfitter. He may go out of business if there is a recession, he gets injured, or just, as most folks do, by poor money management.

And I've been to AK to hunt caribou.

You don’t have a choice that I have seen, every one requires a deposit and long wait. Most of them have refunds if it’s on their end. Which is why you want to go with a larger outfitter that doesn’t have a single point of failure.

 

[gouch]

But I’m also not trying to build or support multi generational wealth like a lot of the guys on here.
That would make you think about it differently.

Do we really need to build multi-generational wealth? I am almost 69 years old and I have over $400,000 in home equity. My kids could sell the house and enjoy that money when my wife and I are gone OR I could get a reverse mortgage and enjoy all that money myself right now. screw the kids! What to do? What to do?

 

[Addicting]

Do we really need to build multi-generational wealth? I am almost 69 years old and I have over $400,000 in home equity. My kids could sell the house and enjoy that money when my wife and I are gone OR I could get a reverse mortgage and enjoy all that money myself right now. screw the kids! What to do? What to do?

I think you need a new AK moose hunting partner! I am available anytime.

 

[DouglasR]

If you want to really to max out your stress and anxiety

Body slam the loader man and keep on trucking bud

 

[westbranch]

Currently I am 34 yrs old. I want to do a high quality DIY fly in AK caribou and moose and some point. It will be 5-10 yrs out and I plan to have some savings for that. Northern BC moose is also on the list, I would say 10-15 yrs out on that. With my career the biggest issue will be making the time, the money should be there. I could see floating myself with a heloc or 0% balance transfer or credit card miles games. I have done that before for rental remodel and other travel done cheap to avoid tapping into savings short term. Have always had the funds a available elsewhere to offset on the balance sheet.

My wife and I did our most expensive trip ever to Maui this past spring. I should go back and add up the total, not as bad as it could have been. We are doing a outfitted middle fork of the salmon rafting trip next summer with some friends. That will be expensive but well worth it.

If we quit saving for retirement at this point we would probably have way more saved than most if we kept it invested and worked to 65. Not going to do that though. Wife might have some inheritance at some point, but can't rely on that in any way.

Also I am planning on dropping a bunch of money on optics and rifle(s) in 2023 after being fairly budget cautious for several years. Gotta live a little I guess.

 

[DouglasR]

I constantly see small businesses go under and the owner springs up in another one in a few months. I don’t know how that works but if debt and or defaulting on a business loan is so bad how do they keep doing it?

I’ve thought a lot about this same thing and I think it’s because theses people are what we call “pos” and they just don’t care.
There’s a delicate balance between being a good responsible person and hurray for today F tomorrow.
For me personally, the example of 30k is just too much money.
But as I think wllm said, if it’s what YOU want to do and YOU can somewhat make it financially make sense it’s YOUR life and people have spent 30k on way dumber chit.
And I don’t know anything about guided hunts, but the no refund thing would make especially weary of spending that amount of money in the way you’re saying.

 

[CPAjeff]

We kinda do the same. Question though, do you accompany each other on these ventures? My wife made the comment once (laughingly but she made her point) that I get a twofer, I go on “her” trips and get to spend mine solo (she has no desire to accompany me on most, though had on a few). I sometimes suggest that if I’m gone for a week or two that she flies/drives out to see family or friends. Which happens about 25% of the time. The rest she just enjoys her alone time while I enjoy mine, albeit with a pinch of guilt mixed in. Thoughts??

Good question! The short answer is - - it depends.

The long answer is, with the exception of AK, my wife is invited to go on all my hunts - no strings attached! She grew up in a road-hunting-shooting-after-dark-in-the-headlights-family, so it took her a little bit to understand that I don't hunt that way. We've been married since 2010, and in 2017 she finally accepted my invitation to go hunting (it was a super easy CWMU deer hunt in Utah that I drew with the sole intention of including the whole family). Ended up killing a buck that had been relocated from the Wasatch Front, hence the ear tag.



I asked her to plan a few family activities outside of hunting, and it made her feel included. Now, she loves to go! I run my hunting plans for the next year by her and ask if there is any she'd like to go on. She does the same with me and her travel schedule. As a stay-at-home-mom, she does a lot for our family, and deserves a day off. If she wants to go on a trip with just herself and her sister, I take off work and take care of the house, getting kids to school, etc.

In the end, we both have individual trips and twofers . . . I hope all of this rambling makes sense!

 

[406dn]

I see no reason not to borrow to do the things that you dream about doing. If it is a dream hunt or a dream vacation makes little difference. People piss away gigantic sums of money to buy things that they want, many that depreciate.
If $100,000 fell in my lap I would not spend it on a hunt because I don't dream about hunting faraway places, but I have spent a lot of money playing with airplanes in a previous life.

I say if it is something that you stare out the window and dream about, do it. I have watched several people die young and debt free. It is not all that appealing to me.

Yes it would suck to die young, pretty much under any circumstance.

Something else that would suck is being old, in debt, losing your health, and still needing to work to make ends meet.

I was young once, lucky enough to go on a dream hunt. Something I did not realize until actually on that trip is the internal pressure, when the hunt does not seem to be going as well as hoped. In my case the number one goal was taking a nice ram. Everything else was far down from that. Well, I hunted two weeks in NW BC and was unable to take a ram. I have a brother in law suffer the same fate in the Yukon. It happens. When you have sunk so much money and effort to make the hunt, the failure weighs heavily.

I did get two nice consolation prizes. A mountain goat and a nice mountain caribou. I also passed on a good bull moose, as it involved giving hard won elevation, and it wasn't the goal of the trip.

A good hunting career will have many many trips. You really never know in advance which trip will sear a memory so indelibly that it remains fresh over time. That trip did not succeed in that regard. There have been other trips with much less expense that are more memorable.

 

[Addicting]

I asked her to plan a few family activities outside of hunting, and it made her feel included. Now, she loves to go! I run my hunting plans for the next year by her and ask if there is any she'd like to go on. She does the same with me and her travel schedule. As a stay-at-home-mom, she does a lot for our family, and deserves a day off. If she wants to go on a trip with just herself and her sister, I take off work and take care of the house, getting kids to school, etc.

In the end, we both have individual trips and twofers . . . I hope all of this rambling makes sense!

This became our model in 2017, it really seems to be working out well. Glad to see I’m not the only one doing it.

 

[elkantlers]

 

[Steiny77]

Myself and a buddy did an expensive elk hunt with a dude that put the whole thing on his credit card and had no business going on such a hunt. He was out of cash by the time we arrived in camp, putting everything on his credit card, nitpicking cheap about hotel and meal stops, etc. He got an elk and had no cash to tip his guide so his wife had to Western Union some cash to him so he could leave the guide some sort of reasonable tip and make it home. I'm sure he then dug himself deeper on taxidermy when he got home. A guy like that isn't much fun to hunt or travel with. Within a few years after that trip dude lost his business, house and marriage, probably largely due to financial behavior.

Hunting isn't a need, it's a want and you don't borrow for wants.
Also ... If your determined and resourceful there are a whole lot of cool hunting trips that can be done quite affordably DIY. They may not put moose antlers on your wall, but the experiences are always great if you go with good people and you don't have debt hanging over your head when you return.

 

[Nick87]

I suspect "they" have a better rationale for the numbers they came up with when compared to how you came up with your's.

Yah...if your paying 10, 20, 30, or 200% (insert whatever number) more for things every month. You don't know what your talking about but the government says it's x than it must be x.