We So Crazy

I am truly an adult now. Not like this is news given that I'm 30. Over the weekend Ben & I purchased a house as an investment. We went into the deal with Ben's brother and his wife. We all own it and are going to rent it out. We already own a house that we live in, this one is just the investment.

The housing market in Portland has been growing by leaps & bounds. On average, home prices in my neighborhood have been rising by 13%! We got a great deal & I can't wait to start fixing it up. Here's some pictures. Picture the fencing/odd deck thing in the front replaced by a white picket fence, a front porch and a whole new paint job on the exterior. And if you have more suggestions, please let me know. My goal is to raise the value of this sucker.






16 comments:

BigDubb said...

Very nice.

Whats a house like that go for in Portland. that would be about a $250,000 house here in Mpls area. Based on the sized and the kinds of appliances etc inside.

Pretty coo' though.

ab said...

It's $215,000. 2bd/1ba 1,000 Sq Ft with no basement. Houses in the neighborhood are in the low to mid 300s right now. Score!

Anonymous said...

COUPLE LARGER TREES IN FRONT YARD WOULD HELP RESALE.......BEEN THERE

katie said...

Cute! The inside looks really well kept. Some fresh paint and curb appeal and the thing will be adorable.

Those prices are outrageous! I'm surprised mpls is that much Big Dubb....I would think it would compare to KC, but we are a little less here.

BigDubb said...

Thats not even in the city. If you were in the city the price might be a $100,000 more.

Housing here is crazy. Down the street they are selling two bedroom condos in pseudo brownstone buildings starting at $325,000

katie said...

I just can't believe that "normal" people can afford to live in these cities. I just don't people make much more than we make in the midwest, but the cost of living is outrageous. It doesn't really add up to me.

katie said...

I meant to say I don't think people make much more. My previous post did not make sense!

BigDubb said...

Your right, it doesn't add up. Starter homes are 10x more than they were 30 years ago.

That's why it took us 8 years of apartment living until we were finally able to get a house.

It truly sucks.

I remember thinking some time ago that $100k a year for a family to take home was hella lot of income. Now it is sufficient, but in no way would it be a decadent existence.

Kinda sucks if you ask me.

Christine said...

Wow, way to go! Best of luck with your investment.

ab said...

That's why I'm lucky that I have 3 other people to go in on this with.

Stacy said...

That's part of the reason we live in good old mom's basement for a couple years before Michael starts school.Housing is just so much then you add cars,and health & car insurance,groceries ugh,it never seems to be enough...

Stacy said...

Oh, I meant to comment that your new house in so cute AB,what a smart investment.

Josh said...

congratz. is it also in the SE?
pretty small for 215k...i couldnt really trell..but is it like..super nice kitchen stuff or bathroom or something? seems like..a bit..overpriced..
but then..i moved from calif..and you cant even get condos in the 400s anymore..

ab said...

Josh, it's in SE, in the Westmoreland neighborhood. It's actually the opposite, it's super cheap for the nighborhood. Everything around here is in the 300s. It's just because it's a little small and needs some work on the outside.

Kiddo78 said...

Good for you - real estate is the best investment after education, I've heard a few times. There should be another window on the same wall as that corner window...

Josh said...

check this link:

http://money.cnn.com/2005/08/03/real_estate/buying_selling/pmi_riskiest-markets/index.htm