I guess its OK to ask on this forum... Its financial, our retirement home... and doubt I'll retire till its done...LOL
Back story...
We stumbled onto the opportunity to sell our home 3 years ago... We managed buy the old house we rented for almost 8 years,and my brother has been renting since we moved back in 1995...shack of a house on 3 acres....She made us a great deal but the brother stays... We bought a used 5th wheel and a couple sheds... and made it our home, was thinking about making a small campground out of it... a place to park in our travels.
Next door is an abandoned home, Original built in 1972 by the brother on the families original 4 acres. Old family friends, kinda like adopted grandparents, had bought it back in the early 80s. They have since past away, and the place had been repossessed by the bank and sitting vacant about 8 years. Crackheads had basically stripped it out, pulled most of the wiring, plumbing anything of value... and trashed the rest....
We managed to buy it at auction for $6500 2 years ago. pics in the file.. 960 SGFT, and an unfinished 2 car garage. Almost put a match to it... but hated to lose the fireplace. Besides, I actually help build the garage back in 1988.
So we now own both places mortgage free, and 30K in cash on hand. We have totally gutted the house, Got the garage floor poured and the doors installed for secure storage Got a building permit, temporary power pole and well up and running... Back story complete....
We have several store credit cards that we have used so far buying supply's. Everything at 0% interest till paid off.. and total debt balance is currently $150 to be paid next week. We are about to drop $2-$3K for windows and exterior doors and some framing and electric supplies, 0% for 2 years.
Following the electric and framing inspection, its Insulation, sheet rock, bath and kitchen, appliances, deck Materials, Siding and so on...... all within the next year...
Im figuring on about $30K total spread out over these accounts, or $1250 a month to have it paid off before interest starts...And the store card interest is OUTRAGEOUS.....
Anyone thing we crazy?
Back story...
We stumbled onto the opportunity to sell our home 3 years ago... We managed buy the old house we rented for almost 8 years,and my brother has been renting since we moved back in 1995...shack of a house on 3 acres....She made us a great deal but the brother stays... We bought a used 5th wheel and a couple sheds... and made it our home, was thinking about making a small campground out of it... a place to park in our travels.
Next door is an abandoned home, Original built in 1972 by the brother on the families original 4 acres. Old family friends, kinda like adopted grandparents, had bought it back in the early 80s. They have since past away, and the place had been repossessed by the bank and sitting vacant about 8 years. Crackheads had basically stripped it out, pulled most of the wiring, plumbing anything of value... and trashed the rest....
We managed to buy it at auction for $6500 2 years ago. pics in the file.. 960 SGFT, and an unfinished 2 car garage. Almost put a match to it... but hated to lose the fireplace. Besides, I actually help build the garage back in 1988.
So we now own both places mortgage free, and 30K in cash on hand. We have totally gutted the house, Got the garage floor poured and the doors installed for secure storage Got a building permit, temporary power pole and well up and running... Back story complete....
We have several store credit cards that we have used so far buying supply's. Everything at 0% interest till paid off.. and total debt balance is currently $150 to be paid next week. We are about to drop $2-$3K for windows and exterior doors and some framing and electric supplies, 0% for 2 years.
Following the electric and framing inspection, its Insulation, sheet rock, bath and kitchen, appliances, deck Materials, Siding and so on...... all within the next year...
Im figuring on about $30K total spread out over these accounts, or $1250 a month to have it paid off before interest starts...And the store card interest is OUTRAGEOUS.....
Anyone thing we crazy?
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