Tomorrow I am attempting to buy this......
- Thread starter blu_fuz
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Ghettoboom767
Member (SA)
Congratulations Joe!!
That Boombox museum will have to wait for a while but it will be worth it!!(lol )
That Boombox museum will have to wait for a while but it will be worth it!!(lol )
Ghettoboom767
Member (SA)
Too bad you can't just use the "soapy bath" and a can of Krylon. 
chevyman-uy
Member (SA)
baddboybill
Boomus Fidelis
Northerner
Boomus Fidelis
I do like these US houses...they're so different to what we have in the UK...can just picture myself sat out the front with a beer and a box 
Long overdue update!
We had the same renters since the day we signed that first contract. Just over 6 years they were here. No real problems over the years but a couple checks that didn't clear but they paid cash within a couple days to square up. They had the opportunity to rent-to-own somewhere closer to work, so I let them get out of our rental contract at the beginning of December 2019. The house wasn't trashed or damaged but there was a truck load of trash left behind.
We put the house up for sale right away in December to see what the market was like. Started in the high $80k's and over the course of 4 months we dropped the price to low 80's and had NO offers. A few dozen showings but no offer on paper. Less than a week before we had a new renter lined up to move in, we finally got an offer! Cash, no contingencies, as-is, close in 2 weeks! We did the final paperwork last Friday and are now out of the income property game.
This was a great learning experience. Really, no problems to speak of regarding the tennants. We sold for double the purchase price and have not spent more than $1,500 on repairs since the original work we did to the house. With Covid taking over, we thought there wouldn't be a buyer at this time. Renters are OK and we would have done it again, but having this money available has got us into a situation where we can refinance our primary home from the 30yr mortgage @ 4% to a 15yr mortgage @ 2.625%. That will save us over $140k in interest.
https://www.zillow.com/homes/105-W-Cherry-St-Fox-Lake,-WI,-53933_rb/40255143_zpid/
We had the same renters since the day we signed that first contract. Just over 6 years they were here. No real problems over the years but a couple checks that didn't clear but they paid cash within a couple days to square up. They had the opportunity to rent-to-own somewhere closer to work, so I let them get out of our rental contract at the beginning of December 2019. The house wasn't trashed or damaged but there was a truck load of trash left behind.
We put the house up for sale right away in December to see what the market was like. Started in the high $80k's and over the course of 4 months we dropped the price to low 80's and had NO offers. A few dozen showings but no offer on paper. Less than a week before we had a new renter lined up to move in, we finally got an offer! Cash, no contingencies, as-is, close in 2 weeks! We did the final paperwork last Friday and are now out of the income property game.
This was a great learning experience. Really, no problems to speak of regarding the tennants. We sold for double the purchase price and have not spent more than $1,500 on repairs since the original work we did to the house. With Covid taking over, we thought there wouldn't be a buyer at this time. Renters are OK and we would have done it again, but having this money available has got us into a situation where we can refinance our primary home from the 30yr mortgage @ 4% to a 15yr mortgage @ 2.625%. That will save us over $140k in interest.
https://www.zillow.com/homes/105-W-Cherry-St-Fox-Lake,-WI,-53933_rb/40255143_zpid/
Reli
Boomus Fidelis
Just re-read the thread, and realized this was right next to your house?? Hope they were cool people. I would have felt awkward running into my renters so often 
Good call on getting out at this time. Rental income is gonna get pressured the next several months, and so will home prices.
Good call on getting out at this time. Rental income is gonna get pressured the next several months, and so will home prices.
I like that house, if it were me, I think I would have kept it. Over the long haul, you will never lose with real estate.
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