Investing

POP! shhhhhhhhhhhhhhhhhhhhhhhhhh

That, my friends, is the sound of champagne popping! WOO HOO!

We have some friends, great christian people, who are into real estate investing. They are just getting into it too, but have landed a sweet deal on an apartment building, RIGHT NEXT DOOR to where they live. They live in the city; so they have a little more property and experience under their belts then we do.

Anyway, there is a house almost directly behind them in the downtown area. It is OLD but structurally sound. My husband is a carpenter and gave it a thorough looking over with our freind. The roof is metal and solid as they come. It just needs lots of cleaning, painting, maybe some new trim, landscaping (my department) and a little "fixing up" in general. Now, an elderly man lives there and has a messed up family. He doesn't want any of his kids to have it ("a bunch of crack heads that just want my money"). He wants to get out of the neighborhood. The house looks horrible, now. My husband and his friend went over and offered $15,000 for the house and he took it. He couldn't get a real estate agent to touch it. Once the house is done, we will have it appraised and sell it at market value. Then we will split the money down 1/2 and 1/2. Taking in consideration we need to pay on the loan of course, but it is an open line of credit, which is a good thing to have in real estate investing. Anyway, we are really excited and this means MORE book keeping for me. ACK! But I agreed to do it so we'll see how it goes.

Anyway, that is my great news that I have been kind of sitting on until I knew the deal was thru. We have other things in the works as well but I'll have to wait on those for now before I can share. I have found, like a wish, it is bad luck to say anything BEFORE it happens. Well, for me anyway. LOL

God Bless!

katcha