We Bought A House!

Sunday, June 5, 2016

I didn't want to jinx anything before our closing, but as of Wednesday I am officially a home owner! Myself, Josh, and my parents are now all co-owners of an investment property.  Josh and I will be living in one of the units for a while as "tenants" but eventually the property will just be a second source of income for all of us.
Unfortunately, because this is a rental, the unit we are moving into is pretty beat up.  We were hoping we could move our things in and just update as we go along, but we're going to at minimum need new paint and a deep scrubbing of everything.  I washed one of the windows the other day and my paper towel came back black... and that was just from the glass.

I've spent most of the last three days there doing work on the house.  Our goal for now is to just get our bedroom and the living room/kitchen painted so we can get that stuff all moved in.  My father and I painted the kitchen ceiling today and I'm concerned it looks like crap, but I'll have to see how it looks once it's actually dry.

Josh's two weeks of annual training with the National Guard of course started the day after we closed on the house, so most of this work is on me until he gets home.  I want us to be able to move in as soon as he's back so I'm going to try to get as much done as possible, but it's exhausting. I am sore all over. At least I won't have to worry about going to the gym for the next few weeks.

Possibly the best part of this whole thing is that our tenants seem to be perfect.  Because we were buying the house as owner-occupiers, we had to pick which tenant needed to move out.  That was much harder than I thought it would be. We met one of the tenants when we went to look at the house, and he told us that he and his family only moved in about three months ago.  The owners of their previous rental wanted to move back in and kicked them out and "if we have to move out again it will be the second time this year."  He also told us he was paying $200 more in rent than the other tenants.  For a few reasons we still chose to ask them to leave. We felt really bad but the other tenants had been there for 8 years and seemed to have taken great care of their unit.  I had a lot of guilt about kicking out a young family,  but I think I would have felt worse kicking out people who had made this place their home.

We found out after the closing that the other tenant had flat out lied to us.  They hadn't been there for three months.... they had been there for three years.  And they weren't paying anything more than the other tenants.

I didn't feel bad at all after that.

The tenants that are staying have been so friendly and helpful.  They've basically treated this place as their own house all of this time and I feel like that is more than I could ask for as a first time landlord.

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