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Real Estate

November 3rd, 2017 at 07:22 pm

We've been working on a purchase of a two-family home since late August and if everything goes according to plan, we are set to close on this property next Friday. After a little bit of haggling back and forth, we came to an agreement on a purchase price. I know that investment properties are not the easiest to deal with but we've owned rental properties since 1998.

We are aware of all the pitfalls of owning them and the good and the bad that comes with them. We will still have a healthy emergency after we bring 20% of the purchase price to closing. We would not do it unless we have money in the bank to cover our own personal emergencies and anything that comes up with the rental properties. Eventually, we would like to make enough money to cover my income or a good portion of it so that I can perhaps take on reduced work hours or change career paths. Although I love my job, it has become more and more trying as the years go by. I only have one life to live and I want to make the most of it.

On a side note, we have an umbrella policy to help us mitigate any issues.

2 Responses to “Real Estate”

  1. rob62521 Says:

    Let me offer congrats on this purchase! It sounds like you have planned well to take care of purchasing this.

  2. FrugalTexan75 Says:

    Congrats!

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