I haven't looked at any houses yet so my plans will probably change again but at least this plan has made me stop all unnecessary purchases. I need to focus on paying off my credit card and not racking up any new debt.
I am also trying to get the dogs adopted out so that I have less expense for dog food, treats and toys and gas. It doesn't seem to be working too well. The dog that was going to be returned last month, well, she never got returned to me. Turns out she got dumped by her adopter and ended up back at the dog pound. My friend went to pick her up today and now she is back at my house so I have 9 dogs again. Luckily another friend said she could foster her on Friday so I will be back to 8 dogs on Friday. I just can't seem to get down to 7 dogs like I want to.
Sounds like the best idea yet, especially since I found out what the prices are like.
Is it not illegal to dump a dog? If you know who did it can you not report them to the police? Evil people. Just as well they got rid of him because it would have been a miserable life with them even they couldn't even be bothered to return to return him.
I like this plan. Good luck seeing it through!
I really like this option. I've done something similar in the last five years. I bought my first house in 2003 and lived in it until 2006. I moved in 2006 and rented the house I was living in out. Then in 2008 I moved again and I rented that house out that I was living in. I was able to pay the first house off in 2009, so it's throwing off a lot of cash now that I'm using to pay off my other debt.
Are you looking at foreclosures? You can probably get a super deal in your area if you buy a foreclosure or short sale.
I think that is an excellent idea. You are a creative thinker, Daizy.
What is wrong with people? It was too much trouble to bring the dog back? They just turn the dog out to fend for itself or end up back at the pound? I don't understand how anyone can be so cruel.
I forgot to state:
I like this idea because ultimately, you will end up with a home you want. It seems as though you don't really want a mobile home.
Lizzie, I think he would just say she got lost. Her collar and license tag were not on her though so it is kind of obvious that he didn't want her to come back to him.
Executioner, at least it is an entertaining plan. Looking at houses will be fun I think or maybe they will be horrifying and that will put an end to my plan.
Frugal Miser, there are a lot of homes at the bottom of the price range that are HUD, bank owned or short sales. I'm glad to hear it worked for you. My Aunt and Uncle did the same back when they were younger. Seems like a lot of potential there if done right.
I know Petunia, all he had to do was drive 20 minutes and give her back to me. I don't understand it.
If this plan works out it will give me more money to live on and a site built home for my property. Of course I will have to keep working at my current job longer than I wanted. I think when it comes down to it, I just like that a site built home holds it's value better than a manufactured one. Plus with pets I would really like a concrete floor. They are so hard on the floor.
I really like this idea. I'm just a reader with a rental of her own that's not paid off yet, but I think it makes sense and leaves you in better financial shape at the end. The site-built home will be better for your needs and the dogs won't be as hard on it if the floor is concrete. Maybe if the rent on house #2 covers more than the mortgage, you won't have to work as long.
Stephanie, I think the rent should easily cover the mortgage. Where I usually go wrong is estimating and saving for repairs. Like that last flooring job...$6k, wow. I expected $3k.
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