5/30/10

Cool Thing # 3


Okay, I seriously wish I knew WHAT was going on. We have some crazy stuff going on and we are VERY excited!! We don't really know what God is doing, but He is doing some really cool things.

Cool Thing # 3. We got a house. Yep. The one above. Let me tell you the game plan and then the awesome story.

Game Plan:

1. We are moving in after we finish a complete renovation that will be done by August. We are starting tomorrow.
2. We will live in the house for at least a year and have it paid off within 5 years (ill tell you how below)
3. We will move out after a year or so, rent it out as it pays off, and then use the house as a source of income and investment. (Tims dream # 2, to own some rental houses)


The Story:
My great grandfather built this house, Arnold Cliff Pace. To this day, it sits in the heart of Marietta a couple miles off Barrett Parkway and Dallas Hwy intersection. My grandmother has kept this property and several others she owns in this area. They have slowly been selling them off, but this is the last one. And, Tim and I really want it!

So, I love the house because of the location, its on 1 acre of land, and because it is kind of sentimental.
The person who was going to buy it decided not to, so it became an option for us! We love it. We are going to buy it from my grandma interest free and get no banks involved.... and pay off the house within 5 years. With no interest, this is possible. Then, I hope to keep it forever and rent it out! In the meantime, the house needs SERIOUS work..... it is kind of a mess. My grandma is going to give us all the funds to fix it up, but we'll add it back on to the purchase price of the house. I don't know if you read the blog, Young House Love, but I will definitely be blogging about the rehab of this place! It will be completely gutted and look brand spankin new. It was built in the 1950's and is awesome on the inside.... original hardwood floors, ect. It is a little small.... 2 B, 1 Bath, about 1200 sq feet. BUT, it has a HUGE den and living room, and a massive, oak tree filled back yard that is an acre. So, we will manage just fine for a while. The rooms are big, so the kids will probably share a room... which David is estatic about!


Anyway, we are just soaking all of this in. Rehab starts tomorrow. We have to get a move on, b/c Tim's school starts July 8 and we want to get the hardest stuff done before that starts!


So, this is a very cool thing # 3. I know the house may seem like a rat hole and people may think we've lost our minds, but I see this place for what it could be...... SO CUTE. And besides, I think people may have already thought we lost our minds a while ago.... so what does it matter?? I'm already on the "sacrifice train" so its a joke that why not go all the way?!!!! It's worth it to me to own a house outright in a few years and rent it out. And suddenly, all of my husbands dreams are coming true. This is like Tim Heaven. Someone please tell me what we are doing is a good idea!!!!!! AAAHHHHH!!!!!!

5 comments:

Amber Vestal said...

I think it's wonderful! that's actually bigger than our condo and we don't even have a yard. the boys LOVE LOVE LOVE sharing a room. So fun! You can do it for a year easily

Emilie Smith said...

These "cool things" are SO cool! How exciting for y'all!!!

David Wilhite said...

Great idea. I agree, this will be a paradise for Tim as he gets to fix it up. And it fits it with the Ebay/selling stuff craze y'all are getting in to.

Peggy said...

wow that's awesome!!! call me tomorrow and i want all the details!!!!

Cecilia said...

I've been enjoying the cool things posts! A house you can pay off in 5 years is awesome!

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