Got some good news last week. The owners of the small 25 unit apartments that Debbie and I manage came over and offered us a buisness proposition. They offered to sell us the complex for 30,000 (which is a major lose to them considering they paid 60,000 and the tax value is 38,000) owner financed for 67 months at 4% interest. We signed the paperwork today I don't know how to act being not only a home owner but also a buisness owner. We also don't have to worry about hiring a CPA or Lawyer since we are good friends with a couple that do both and they told us until we get going real good they would help us out with the books and legal advise pro bono. Wish us luck.
Congratulations to you and your family Bill. It's great being a small business owner (most of the time), but I think being a home owner is such a rush. I spend so much time remodeling and redecorating that it has become one of my hobbies. An expensive hobby, but so much fun and the pride you feel when your done is great. Have fun with your new business and home- I am sure it is well deserved and couldn't have come at a better time! Congrat's!
Thanks, I know where you are coming from on the running of the buisness, we've been managing the apartment for almost a year and the only time we saw the previous owners was once a month when they picked up rent. On the remodeling multiply that by 25 units. I have to go in and gut each unit as they open up and rebuild the whole unit which is going to be slow going since I'm the only one doing it, plus it's going to cost us extra to have supplys delivered since I choose not to drive anymore. Then we will finally be able to remodel our place and expand the size. Which will be 5 years down the road right now it's more important to get the apartments done.