"There are notes between notes, you know." -- Sarah Vaughan

Monday, October 4, 2010

Building my real estate empire

So I've decided to buy my Granny's house. My uncle and dad plan to sell it and will give me first dibs at it before putting it on the market.

Based on my research of rental rates and comps in her community, I can easily afford to buy it and rent it out at a profit (my Granny bought this house in the very fashionable and hip downtown of my hometown at the beginning of the movement to return to city centers. She was a smart lady). And even if I can't rent it out at a profit, I can afford to buy and take care of her house. Plus, my daddy said he would split the mortgage with me if it took me a minute to find a tenant, though I'm not making my plans based around this promise as I know folks' intentions and actual actions don't always line up.

So, my dad and uncle will make some money, I'll get Granny's house, which meant a very lot to her and I know she would love for me to own it and since my whole family is there, I know managing it long distance would not be a problem.

And this would be the second house I "own."

WIN-WIN!

2 comments:

  1. Anonymous10/05/2010

    Yes, I agree. Congrats!

    ReplyDelete
  2. Anonymous8/20/2011

    Yes, I agree. Congrats!

    ReplyDelete

Use your inside voice ... or I'll put you outside. -- SingLikeSassy