View Full Version : I'm a Homeowner!
I've owned houses for the last 10 years or so, but a loan on a car or a fat mortgage has never felt like owning something to me, plus I didn't put any money down on my house (VA loan), so it's always felt more like rent. Yesterday, I closed on my real dream home. It's a '94 1500 square foot doublewide that is solid but needs interior cosmetic work and a new heater on 8 pretty wooded acres, and it's all mine, free and clear. Let the Indians take over IT now. I'm always going to have a pretty place to live now for the cost of utilities and $500 a year in taxes. For now, I'm going to fix it up, maye or maybe not rent it out, put a BIG multi-use steel garage out there for me, and contemplate dividing the property (to protect myself financially) and building a house more the size of my current one back further on the property to live in permanantly. I almost wanted to throw up driving to the closing with that check in my pocket, but this is something I've been looking at for years, and the perfect deal presented itself, so the trigger had to be pulled. Now that my very modest dream has come true, I fully expect to get hit by a bus on the way out my front door today.
gridfaniker
02-26-04, 11:09 AM
sounds like a fix-up party is in order. Beer and quaaludes for labor.
chipshot
02-26-04, 11:11 AM
Their should be some Meth stashed in it somewhere.
gridfaniker
02-26-04, 11:12 AM
Their should be some Meth stashed in it somewhere.
you don't need any more drugs.
Congrats Sadic.
Add that house you mentioned and bring in another trailer and before you know it? They'll be generations of the Sadic clan hanging around.
You should invest in an ATV dealership.
sounds like a fix-up party is in order. Beer and quaaludes for labor.
Seriously. I need to get a dumpster out there, then I'm gonna be doing some camping out there with a keg and trying to lure unsuspecting friends and acquaintences.
Shrapnel
02-26-04, 11:13 AM
Will there be any finger bunging tonight?
Congrats Sadic.
Add that house you mentioned and bring in another trailer and before you know it? They'll be generations of the Sadic clan hanging around.
You should invest in an ATV dealership.
Thanks! That's the plan. I want to be able to offer each of my kids a free house someday. I may have to use the term loosely, though.
chipshot
02-26-04, 11:15 AM
you don't need any more drugs.
:scatter:
Their should be some Meth stashed in it somewhere.
I wouldn't doubt it. It's a foreclosure, and the people still owed the original purchase price when they were booted.
Will there be any finger bunging tonight?
Thanks for the idea. I think there will be.
Shrapnel
02-26-04, 11:17 AM
:singer: :gmorning: :aorangeha :silly2: :thinking: Thanks for the idea. I think there will be.
chipshot
02-26-04, 11:25 AM
I know alot of people who sell foreclosed trailers. Did you get it from a group called Home Outlet?
gridfaniker
02-26-04, 11:28 AM
Seriously. I need to get a dumpster out there, then I'm gonna be doing some camping out there with a keg and trying to lure unsuspecting friends and acquaintences.
what work needs done? You gotta gut the entire thing? siding. wiring.
HulkaManiaRunninWild
02-26-04, 11:33 AM
I've owned houses for the last 10 years or so, but a loan on a car or a fat mortgage has never felt like owning something to me, plus I didn't put any money down on my house (VA loan), so it's always felt more like rent. Yesterday, I closed on my real dream home. It's a '94 1500 square foot doublewide that is solid but needs interior cosmetic work and a new heater on 8 pretty wooded acres, and it's all mine, free and clear. Let the Indians take over IT now. I'm always going to have a pretty place to live now for the cost of utilities and $500 a year in taxes. For now, I'm going to fix it up, maye or maybe not rent it out, put a BIG multi-use steel garage out there for me, and contemplate dividing the property (to protect myself financially) and building a house more the size of my current one back further on the property to live in permanantly. I almost wanted to throw up driving to the closing with that check in my pocket, but this is something I've been looking at for years, and the perfect deal presented itself, so the trigger had to be pulled. Now that my very modest dream has come true, I fully expect to get hit by a bus on the way out my front door today.
Is your sister, I mean wife, moving in with you.
im happy for you man.
this is a hell of a project though.
when do you start?
why not have a party day at your place to do some work?
builder
02-26-04, 11:53 AM
Good job. You need to get kshead's family a few bus tickets.
Isaac OddVelvet
02-26-04, 11:54 AM
Congrats on becoming a home-O
It was a bank owned foreclosure. It's deeded and bricked on the bottom. When the previous owners got foreclosed on, they ripped out the whole HVAC system, the hot water heater and 1 toilet(?). It's 3 bedrooms, a great room (fireplace with blower), a kitchen and breakfast area. The master is decent sized and the master bath has a big garden tub and separate shower, but most of the inside needs gutted. They did some wacky joint compound/stucco treatment on some of the walls. I need to tear out those walls and drywall the whole house. I may be able to drywall over the non-fucked up trailer wallboard to save myself waste and mess, but I'm not sure yet. The whole kitchen needs redone and all of the floors. The windows and exterior structure are good (needs a power wash). There's a brick front porch that can stay, but the deck on the back has to go. I'm going to have the HVAC system and water heater replaced immediately, so there's a few grand off the bat, but I'm going to do everything thereafter myself, with the focus on scoping out good deals and making it generally clean, livable, and new, but not upscale in any way, in case it'll be rented. Another option would be for us to live in it while we build the other house at our own pace. I bought my 1970 Ford F100 last week and I'm psyched to do some real work for a change. I have to go price some stripper poles.
Chief Tony
02-26-04, 12:36 PM
I wouldn't doubt it. It's a foreclosure, and the people still owed the original purchase price when they were booted.
Congrats man.Yeah foreclosure is the way to go.We have several rental properties that we bought that way.
Isaac OddVelvet
02-26-04, 12:37 PM
make sure the salesgirl gives you a demo on those stripper poles.
why do you want to be in the rental business? for fun? experience? bored? income?
gridfaniker
02-26-04, 12:52 PM
It was a bank owned foreclosure. It's deeded and bricked on the bottom. When the previous owners got foreclosed on, they ripped out the whole HVAC system, the hot water heater and 1 toilet(?). It's 3 bedrooms, a great room (fireplace with blower), a kitchen and breakfast area. The master is decent sized and the master bath has a big garden tub and separate shower, but most of the inside needs gutted. They did some wacky joint compound/stucco treatment on some of the walls. I need to tear out those walls and drywall the whole house. I may be able to drywall over the non-fucked up trailer wallboard to save myself waste and mess, but I'm not sure yet. The whole kitchen needs redone and all of the floors. The windows and exterior structure are good (needs a power wash). There's a brick front porch that can stay, but the deck on the back has to go. I'm going to have the HVAC system and water heater replaced immediately, so there's a few grand off the bat, but I'm going to do everything thereafter myself, with the focus on scoping out good deals and making it generally clean, livable, and new, but not upscale in any way, in case it'll be rented. Another option would be for us to live in it while we build the other house at our own pace. I bought my 1970 Ford F100 last week and I'm psyched to do some real work for a change. I have to go price some stripper poles.
you're gonna spend a boatload.
hasbeen99
02-26-04, 01:48 PM
Congrats, Sadic! Sounds like a great investment, at least for personal satisfaction if not financial gain, but maybe that too. Good luck on all the home repairs.
you're gonna spend a boatload.
Yes, I am, but I'm homesteading, and I paid well less than half of what the place sold for in 2001. I'm looking foward to trying to do it as intelligently as possible. I'm going to challenge myself to spend 15k or less to get all of the interior and mechanicals in order. That doesn't include the rear deck. I may sell my Fat Boy in favor of another old shovelhead to get the money to get a crazy garage/shop built sooner than later.
On another note, there's a creek and tree stands in the woods on the property, and I'm looking forward to using each of them in a sexually deviant manner. That's the real motivation here.
gridfaniker
02-26-04, 01:52 PM
Yes, I am, but I'm homesteading, and I paid well less than half of what the place sold for in 2001. I'm looking foward to trying to do it as intelligently as possible. I'm going to challenge myself to spend 15k or less to get all of the interior and mechanicals in order. That doesn't include the rear deck. I may sell my Fat Boy in favor of another old shovelhead to get the money to get a crazy garage/shop built sooner than later.
On another note, there's a creek and tree stands in the woods on the property, and I'm looking forward to using each of them in a sexually deviant manner. That's the real motivation here.
what're you doing for flooring?
On another note, there's a creek and tree stands in the woods on the property, and I'm looking forward to using each of them in a sexually deviant manner. That's the real motivation here.
"Woman Found By Hunter Claims To Have Been Tied to Tree Stand For Days"
Story at 11.
what're you doing for flooring?
This is where I think I have the most wiggle room with money. Carpet for the bedrooms, tile for the bathrooms, and either Pergo-knockoff synthetic wood for all other spaces, or vinyl or linoleum in the kitchen and carpet in living room. The main thing for me is to shop for this stuff carefully and get a good deal. I've had good luck in the past with finding closeouts and discontinued crap with flooring, so I'll let what I can find that's good for the money dictate what goes in within some preset parameters.
gridfaniker
02-26-04, 03:20 PM
This is where I think I have the most wiggle room with money. Carpet for the bedrooms, tile for the bathrooms, and either Pergo-knockoff synthetic wood for all other spaces, or vinyl or linoleum in the kitchen and carpet in living room. The main thing for me is to shop for this stuff carefully and get a good deal. I've had good luck in the past with finding closeouts and discontinued crap with flooring, so I'll let what I can find that's good for the money dictate what goes in within some preset parameters.
Pergo's the way to go. Easy as shit to install. I helped a guy put some in at his camp (it wasn't Pergo, but a pretty good, cheaper, alternative that he'd picked up at half price). Did about a 20-by-30 space in a day. Is the existing subfloor in good shape?
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