Posted in Real Estate
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For anyone interested I thought it was time to give a real estate update on our new property. This was the one that the old man stayed in two weeks after we bought it. Well all of July dh has been working hard at this house and has hired a carpenter to help him. They put a powder room in the first floor and put electricity in the attic. They also put railings on the front and back porch and painted. So now comes the scramble, because the work isn't quite done but we have a tenant. We advertised 3 days and got about 10 calls, but the first person who looked at the place took it. She came up with the money for the credit check, got a financial backer because her credit wasn't good, and then the next day brought us a month's security deposit. But then the best part was that she decided to pay us a whole year's rent up front. We didn't ask for that, but since this is a divorce situation where she and the 3 boys are moving and the house was sold, she has money from the house sale I guess. And she doesn't have a job right now so she used her money wisely enough to pay in advance. Now she doesn't have rent to worry about for awhile. That is good for us, because we have a cash flow crunch fixing up this property. The biggest challenge in being full time in real estate is cash flow. We have plenty of equity but not often enough cash flow. So this helps us get over the hump. God provides in interesting ways. And I am looking forward to things slowing down a bit once this house is put back together. That has to happen this week as the tenant is moving in. Never a dull moment. |
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