Not for a primary residence, but for our first rental property. My hubby has been thinking about it on and off for several years, but recently felt a strong urge from the Lord to invest now.
If you knew my risk-adverse guy, you could really appreciate what a step of faith and obedience this venture is. To actually meet with a realtor, start looking at properties, listen to podcasts --yes, I am doing this and loving it, actually--considering the legalities of renting, wondering if we have the temperaments to be landlords, checking into setting up a LLC, thinking about what our weekends will look like for the next year, and on and on.
My life has gone from fairly slow-paced to suddenly fast paced.
Before, I was able to get along with a calendar hanging on the fridge to keep things straight, and a simple filing system for household things and school-related things.
But this new thing? This is a small business we're stepping into.
My hubby definitely has the organizational skills.
A head for numbers.
A passion for making money.
The hardest work ethic this side of the Mississippi.
Lots of contacts.
Handyman skills.
Good health.
Great credit.
Discernment. He's a good judge of character, usually.
A wife who is excited for him, for us. To know that he has said "yes" to God for something kind of scary is huge for me.
A wife who gets a certain feel about someone or something and speaks her mind so as to present all the intangibles to a very concrete thinking husband.
Those are all gifts, wouldn't you say? Not to brag, but I think I'm a gift to him. LOL.
He sure is a gift to me. But I digress.
Scripture says, "A man's gifts make room for him." I have no doubt we'll find the perfect "room" for our collective gifts.
Our realtor is outstanding. She came highly recommended by three friends, and we know many many more of the same people, and all this with only one phone call. The grace of God amazes me; I really didn't want to interview three or four and have to choose the best.
Today I found a cool spreadsheet for househunting. Tomorrow we look at 11 properties. We're going to need some spreadsheets before all of them start blurring together.
Any and all comments (encouragement, questions to consider, neon warnings) are all welcome.
And now my timer is beeping and telling me that blogging time is up and getting those spreadsheets off the printer and into a binder is here.
5 comments:
Well, all the best, what an adventure. We know lots of folks with rental property but we've always had our hands full with our own property upkeep. Sounds like you are definitely are the right path. Blessings!
Best of luck with your new venture! I think like any business, there are some headaches, but if it's something you're interested in doing, they can be overcome. From what I've heard, getting a great renter is the key. Have fun looking at properties! Are you looking in your area, or further afield?
Wishing all the very best in your new adventure!!!
Wishing all the very best in your new adventure!!!
You make a perfect combination. Your husband takes care of the more structural side of things, while you handle the finer details. And I imagine that being rental property owners would entail both, as they would be a good indication of the price, as well as the type of home that you would set up for your tenants. Good luck with this new venture. Cheers!
Elton Rousseau @ Hancock Lettings and Estate Agents
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