Updates…
Every “tip” I get seems to zoom ME off in some direction. At this point I have a bit of a cheering section comprised of friends and some family members, including a lawyer who is especially savvy in business, and my stepmother, who has been a landlady and business woman most of her adult life. Most of this group agrees that I might have to target a different demographic in order to make “short term room rentals” viable as a business. In other words, I’ll rent to sledders or work crews or whoever needs the facility, IF I buy that building.
I’ve discovered that I will need rezoning on the government building. It is already zoned “Commercial”, but for offices, not “R4″ for residential rental. This will cost $250 to apply for, whether or not it “passes”. I can still place an offer on the building “subject” to rezoning, financing and inspections.
I discovered today that the heating system in the structure needs some upgrading; although this is no surprise to me, it’s not encouraging. There is someone else I can ask about this. It’s not an inexpensive or minor repair, but entirely manageable.
I had been quite glib earlier (my faithful readers know this) about being able to put a house on a credit card, in the town of McBride. I was ready. Two months ago and up until today, I could have written a check for one of the more humble houses in town, partly thanks to cash advances on credit cards. In other words, I had loaned money to myself, at a very reasonable rate. As I said, I was ready, and I didn’t need to apply for a mortgage and bare my financial records, or pay the extra fees when I bought a property (fees are more if there’s a mortgage involved).
Besides scheming to buy the bigger building, for which I WOULD have to apply for a mortgage, this quest has been very tiring. If a small home had become available in my price range, I would have snagged it and put the other thing out of my mind. Who’d have known that the probate would take so long on two of the homes I’d considered, or that another homeowner interested in selling wouldn’t bother to keep in touch? I thought I’d be “prettying up” a house already, and making “sleeping rooms” for others in even a small home. And maybe even getting the kitchen ready for serious jam making, though an “approved kitchen” doesn’t figure as predominantly in my plan as it did.
What does a person do? Just think, “if it’s meant to be, it’ll happen” ? Or should a person pursue what they want aggressively? I feel good about what I did today… after two months of waiting, I put all the money I’d “loaned” to myself for the project back onto the credit cards. If I have to apply for a mortgage, I believe it will go better for me if I have NO money owing anywhere. That’s a nice place to be, whether I borrow for a “project” or not.
I will try to find my way and have this project explain itself. I don’t know if I’d recognize the point at which I really should give up and let go. I could just use this paltry bit of savings and credit to upgrade our own home; I don’t know why the desire to buy a second home has grabbed me so hard. It made sense two months ago, for investment purposes, business (jam and specialty foods), and “doing good” in the community. It would also be something extra to keep busy at during the winter.
This is the update I wanted to give you, and I’ll get back to you when there’s another. All else is just great around here… plenty of dogs to board and a few to groom, and Raggedy Ann dolls just waiting to be put together. Also, believe it or not, I haven’t finished “planting” my leftover nursery stock to save it over the winter.
We sent a large care package to a relative in need the other day, and that makes us feel good.
Take care, everyone. ~ Ann
