Offer accepted on a four-plex!

18
5.4K followers

We made an offer on a four-plex this weekend and it was accepted the same day! Hopefully, if all goes well we will be landlords in month or two. Three of the units are already rented, one to a nurse, one to a woman in the Army and one to some guys that work a shift schedule on the North Slope in the oil fields. These are all good, steady jobs so they should make great renters. There is one vacant unit that we will live in so we will be all set from day 1.

We will save a lot of money living there from what we pay in rent and utilities now. It is the most expensive property we looked at but it is in much better shape than all the others and will not need repairs. This will hopefully lead to a good inspection and we will be able to expedite the closing and move in time to get out of our place now.

The seller is paying all closing costs! This would have been $14,400 just for buyer's costs! The VA loan is making this all possible, but the VA loan also comes with a steep fee so that is part of why the closing costs are so high. Since the buyer is paying all, we are fine. The inspection on a multi-family is expensive however and we have to pay that ourselves.

We will be moving to a smaller community about 25 miles away from where we live now. It will be twice as far to work (about 20 miles instead of 7), but it is a highway so when the roads are clear and there are no accidents it is fairly fast. It is close to the military base so there are always renters.

I am not doing much here but can't wait to pick up the pace! I AM managing just barely to keep up with Michael's challenge! I am pretty proud of that accomplishment! I am also on day 11 of antibiotics and still really sick so the packing, moving, working stuff is hard. I am making it work though!


Jessica

Login
Create Your Free Wealthy Affiliate Account Today!
icon
4-Steps to Success Class
icon
One Profit Ready Website
icon
Market Research & Analysis Tools
icon
Millionaire Mentorship
icon
Core “Business Start Up” Training

Recent Comments

33

Woohoo! All sounds super exciting Jessica!

Thanks Lauren! Yes it is.

Now that the decision is made I hope it brings you some peace of mind...also I hope the location and the environment will also suit your needs, for the future.

Thank you. I hope so too!

Well done.
Congratulation for your success.

Thank you very much.

Congratulations Jessica! I've been swamped so haven't read your recent posts about this but i'm glad it all worked out.
Erica

Thanks Erica!

Jessica,
Congratulations on getting your offer accepted. I read through your story, and totally understand your frustration. We had something similar happen to us in November on election day. Our landlord called and told us we had to move in 6 weeks. We were in a full panic, We had lived there for almost 6 years and paid off their property. I went immediately to work looking for a place, but we live in an agricultural town, and there was hardly anywhere to rent. My husband is also a veteran, but we did not even have time to apply for the loan, etc. After much distress, we found somewhere to live. It is not ideal, the rent is too much and it poured rain the entire time we moved. I then got very sick and was sick the entire time we moved and almost 2 months afterward. Now we are in the process of trying to find a property, but we cannot move until this 1 year lease is up. Also, that move cost us a fortune that we were not planning on. And now we have to do it again in about 10 months. Oh well! Life goes on. That is the reason I am here at WA. We need extra income like many others. We are elderly, so it makes it difficult to find a job. We also have health issues.

I wanted to let you know that I had to let my sites sit for 5 months during that pack, move and sickness. But they were here waiting when I came back. It really did not take too long to get them up and running again, and getting traffic. Good Luck to you and I hope your decision works out well for you.

Thank you for sharing your story Connie! It is nice to hear from someone who went through this kind of thing though your situation sounds much worse! I am so sorry you had to deal with all that! It is hard being so sick. I have a terrible cough and it just won't go away! I had a cough for 1.5 months and it just finally got better for about 2 weeks and then I seemed to get a new bug that sounds just like what a co-worker had the week before. I am pretty sure that is where I got this. The antibiotics just don't seem to be doing enough. The doctor said there is a nasty bug going around here with a cough that can last 2 months!

I hope your second move goes better and you can settle down.

Not looking forward to moving again, but I think it will be a necessity?? I hate paying rent when I could be making a house payment! Again, I can sympathize with you. While we were moving, we hired someone to help us pack. He had terrible symptoms, but kept telling me it was just his sinuses. Unfortunately, that is what I caught from him and that just contributed to the problems I already had. It took me over 3 months to get better because my immune system is still not as good as it should be.

I hope you will beat this very quickly. Rest if you can. I think sometimes that is the best remedy. Take care. Connie

Congratulations Jessica .. so great the decisions you are making .. Cheers, William.

Thank you William!!

More good things are coming your way!

Thank you!

Happy for the positive changes here Jessica!

Thanks Mike!

congratulations in getting your dream home and dream opprtunity as landlords!

Thank you!

That´s wonderful news for y´all. Hope you´ll feel better soon too *s

Thank you!

See more comments

Login
Create Your Free Wealthy Affiliate Account Today!
icon
4-Steps to Success Class
icon
One Profit Ready Website
icon
Market Research & Analysis Tools
icon
Millionaire Mentorship
icon
Core “Business Start Up” Training