Monday, October 20, 2008

Nine days to go and I seriously almost forgot about it

In nine days I will own three houses and 9 rental units, including my own unit that I live in. In eight days I have to pay for one of them!

Everything is almost wrapped up. I just need to get the insurance paperwork done and my agent is seriously sllllooowww. But he gets us good deals so I'll just have to ride his ass this week. We've got insurance arranged for about $1500 per year, we just haven't finalized it and paid for the policy yet. He's always like this - he says "We have tons of time" and at the end of the whole thing, he's the last one to get his paperwork in. Ah well.

My lawyer is just waiting for that (the insurance) and the transfer of deed from the other lawyer. My mortgage company seems to be happy with everything they have (mounds of paper that I'll bet they aren't even reading). But up until today I didn't really think of the fact that I AM BUYING A THIRD HOUSE. That is slightly crazy. The first duplex, lots of people said "Oh, good idea, tenants can pay your mortgage!" and lots of people said "Oh, it's so stressful and tenants will eat your life." But it still wasn't that big of a deal. With the second house, it was sort of do or die and we were about to learn what investing was REALLY like. Owning a house you don't live in and monitor was a bit scary. Tenant management has never been a problem for me, and as much as I have high turnover I think it's because I pick good people who move on in life (better jobs = better and bigger apartments and/or buying their own place). This buying a third thing really sort of cements where we are going in life, y'know? We can't just decide to back out now. They aren't easy to sell and you can't ignore them and let them run themselves, either. I am a landlord now for good, pretty much.

And I'm pretty damned excited about it. Already want to buy number 4.

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