In a nutshell. Ok, I never write anything in a nutshell and it just isn't how my life works... So, not so much in a nutshell, here is how this came to be.
I was thinking about the economy. I was thinking of how someday I'd love to be my own boss, work my own job, be in charge of my future. I was getting into this whole do-it-yourself stage by baking bread, making my own soap and laundry detergent, etc. I was saving money and being frugal. I thought about how nice it would be if my entire job was just to ensure my own self sufficiency. I thought I'd open a bed and breakfast. I looked into it and was encouraged to explore this possibility. I looked into properties that could become bed and breakfasts and then I realized that I could not afford them and bed and breakfast owners all counseled me to have some other source of income or at the very least have my debts paid off. I am far from that...
But I noticed that there were some real deals out there. And I thought maybe there was something that could help be increase my cash flow and that later I could turn into a bed and breakfast. Later after the mortgage was paid. The plan was to look for a rental. I looked at the MLS. I saw a triplex close to Maryville College and thought it might work. The location was good, the size was great and I like the craftsman houses. We went and saw it and it was falling apart, a den of hazards, lawsuits waiting to happen. I felt sorry for the residents. I also found out that the mortgage crisis has had a negative effect on obtaining a mortgage and that I would have to plunk down 25% of the purchase cost of any property with more than two residences. I modified my search to look at less expensive places and looked at another small house that was also falling apart. The real estate agent seemed shocked that I would expect more and she didn't really have time for me, so I switched agents. My new agent showed me a lot of houses! It narrowed my focus still more until what I thought I was looking for was a single family small residence to fix up and rent out.
Some were better than others, but I was getting tired and it was time to go home. She said, "just one more? It's the one you sent me last, but we might as well since it is on the way home".
OK.
We went and it was perfect. Sure, it is worn and it needs work, but it has great bones, it is not falling in and it is actually pretty big. Cute as a button, too! I fell in love. Then we went inside. Two bedrooms. Original things such as moldings, fireplaces, cabinets with art deco hinges, a claw foot tub in great condition, nice straight flat floors, good size bedrooms, original windows, sleeper porches, and a full basement!
So, I decided I have entirely too much stuff anyway, it is time to clean out. I decided to take a leap, make a change and I'm moving in.
