I've decided I'm ready to take a little dip back into real estate. My roommate owns the home we live in right now, so I don't have a primary residence. I found a great deal on a beach condo, right on the Chesapeake Bay. Very tiny, but I can set it up just the way I want to because it will cost so little to paint, replace flooring, etc. Yet another benefit to a tiny place!
I can afford it even with staying in my current residence, so we will probably stay there all summer and on weekends when we feel like it. (It's only 20 minutes away from my current home). Then in a year or so I can rent it out, as the current tenant pays well over what my mortgage payment will be.
I'm excited, this will be my first place that is all my "own", in my name only! Also a little nervous, because of course anything can happen before the final documents are signed, especially in today's lending climate.
Jumping back into real estate
August 20th, 2011 at 02:01 pm
August 20th, 2011 at 02:07 pm 1313849279
August 20th, 2011 at 02:32 pm 1313850757
We just got back from our vacation to Virginia - beautiful scenery in that part of the country. My kids had a blast at Virginia Beach (we stayed in Williamsburg). Good luck! Sounds like a good move.
August 21st, 2011 at 02:51 am 1313895092