Old house or new house

The well is not being used, but is supposed to work.
If it does work I can get it going even if it requires 3 phase power using my variable frequently drive.
One of the selling points is the well and that it could potentially be more off grid than a city home.
The one on grid convenience I would like to have is natural gas. The amount of energy you get per cost is tremendous.

 

Have a rental property and have had good luck renting to people I know and keeping the rent a couple hundred under the "going" rate. Renter is now in 4 th year and would like to buy place. A friend has a rental place and has had nightmares with rentals. Had one that had a "special needs" child as well as 2 others, and when she applied, the system said she had to rent to the single mother or it would be discrimination. She paid 3 months rent, first, last, and 1 for a damage deposit and never paid again. When she tried to evict her, after her being there for 5 months, it took a year to evict her, problem with children, can't evict in winter months, welfare attorney delaying as much as possible in order to protect "her rights" etc and when she left after 17 months, it cost $15,000 to get the house ready for rent again, rugs, cabinets , sheet rock, appliances, wood work, etc, all damaged or destroyed, Court said damage was not "wilful" as the child had mental problems and the mother had no money. Insurance paid about half of it and then canceled the policy and new insurance was $3,000 a year. Don't know if I would ever get another rental after seeing what can happen, drugs, "boy friends", non payment, discrimination law suits, damages, etc. It has become a real crap shoot even in the country and there is now a class that knows just how to game the system.

 

That's why I'm going to ask for at least first months, last month plus 2000 security deposit. Should keep out the riffraff.
Need to bring back poor farms for these people.
Whole point is to keep out losers with no money by using legal discrimination like high rent and huge security deposit, credit check.
I really don't care about what color they are, what their orientation is. All I care about is the $ and the house not getting trashed.
If I have to I would rent to my exGF and her husband, I always end up helping them move and she has never trashed a place.
If I know some one and know they wont trash the place I wouldn't ask for a security deposit and rent to them below market.

 

Finally got out to see the place.
19 point something acres. Has 2 pretty good size out buildings in finiahed condition, 2 ruined buildings, one of which for sure can be brought back, the remaining one may just need to be knocked down.
It's out away from town about as far as I thought it would be. It is in the desired school district.
I could shoot some guns out there but probably just no high velocity center fire rifle.
The property has gas service but it's not hooked up.
I recognize the well pump it is for sure a 3 phase unit that can be wired for 480 or 240v 3 wire.
I am not paying for separate electrical service so I would end up running that pump on a VFD.
For plumbing it's got city water and a septic tank. Water service is about $45 a month. Well that's got to go.
I think want it bad.
The people who live at this place we are trying to get now use an extraordinary amount of power, up to $130 per month during the summer and power is cheap here so doing off grid solar would be a challenge to say the least.
The house in the city that is bought and paid for, looks like we will rent it out.

 

An alternate would be rent to own the small house to defray the cost of the new house... Get the seller to subdivide the land at the new house and purchase part of the land out right or on a second note. this would allow you to use the income fom the small house to pay the larger mortgaged house, allow you to maintain owner ship of the small house while getting a larger payment out of it, and have a second lot in the event that something negative happens in the market....

Just a thought....

 

That can be done. The originally bought the house on an acre. Then when the land behind the house came up for sale they bought it too and just never did anything with it. So that land could be sold if needed. My wife says that it'sworth around $2,000 an acre.
I'm not just going to let it sit as a grassy field. If it's worth it I would rent it as crop land or to put cattle on. It I just might put my own animals on there.

The house will be virtually fully finished I thought the upstairs part was going to be rough.
All the appliances are electric, even the central heat is electric resistance.

Oh and the power went out while we were there checking it out as a little thunderstorm rolled through. So it looks like my 17.5kw will go in the garage.

In my current place with all gas appliances 17.5kw is way over kill, I mainly have it for my miller dialarc, plasma cutter and air compressor. My much smaller 7kw is way more than enough.
With electric heat and electric heated water 17.5kw may not be enough.

 

My wife say because of her perfect credit and my good credit financing shouldn't be a problem.
She asked her friends how soon do they want to be out of their place, because they gave her the impression that they wanted to get out soon.
Now they are saying some time between the end of summer and end of this year.

 

I'm beginning the search for an ATV and riding mower.
Just looking for now to identify the scam ones, just like I did with my welding machine search.
The place comes with a old kubota tractor. I don't see the point of putting all the menial mowing hours on the aging tractor.
So far I'm finding a lot of sport quads and UTVs. I'm pretty sure the scam ones are the UTVs that are worth $8,000 to $12,000 that are listed for around $2,000 or less. But I don't want a sport quad or UTV. Just a big heavy powerful 4x4 ATV like the Polaris 400cc and 500cc engined machines like I had from days gone by.

 

Well I found out today the gas service ends about a half mile from the house.
It will only cost about $1,000 to bring it all the way to my house.
For cooking and water heating I could live with propane, because with natural gas you pay a $25 surcharge for using $1 to $3 worth of gas per month during the summer. Here about $5 worth of gas is 1 million BTU. 1 million BTU in propane is about 50lb. Propane is sold by the gallon, I just called and it's 3.25 a gallon. There are 4.5lb in a gallon of propane. We will say 50lb of propane is 11 gallons or up to $40 per million BTU with sales tax. I'm using a half million or less per month during the summer.
But propane is just too expensive for main house heating. Been there, done that.
I'm thinking the almost unlimited power prvoided by natural gas my be the better deal.

 

Nope never mind about the half mile thing i went by there today the maps thing was showing the wrong place for the closest place that has gas service.
It's more like 500 to 1,000ft away.
I only double checked because when I type in the address for the place we are getting shows up as the wrong house.

Edit:
Then found out today gas comany already ran gas by the house, they just forgot I guess and no one ever installed a meter at the house.

 

Found out today that I am approved for a VA loan and it's going to be 4% and just over $1,000 per month, 0 down.
The VA requires a $6,600 loan originating fee.
About half the payment will be covered by renting out the house in the ghetto that is paid off.
I'm sure my bank will come in with an offer that requires 5% down and probably 5% interest. I think my wife said that was going to be about an $1,100 a month payment.
The VA loan appears to be the better deal, by a lot, actually by about $40,000 by the end of the loan.
I paid taxes for 20 years so far and did 11 years active and 3 years reserves. My turn to use some of those government hand outs.

 

I'm talking to the guy next door that wanted to buy the 17 or so acres around the house.
I might see if he wants to rent a section.
But I don't know what to charge.

 

I love to see those that served, deserve. Good for you!