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Budget update and exciting news (maybe)

February 25th, 2016 at 09:07 am

Well, I didn't intend for a no-spend month but it looks like I achieved one! There is still one more grocery trip planned for this weekend. I don't know how I was able to keep groceries so low this time around. I hope that this sets a new trend.

We invited friends over for dinner Sunday so I will be getting a ham from Aldi and some asparagus. The kid recently asked a girl to be his girlfriend (!!!!!) and they are walking around in our neighborhood on Sunday. I asked if she wanted to stay for dinner (because that's not at all stressful for her-we haven't met her yet) but they're hanging out at lunch time. The kid invited her to stay for lunch and she agreed so now I have to figure out what teenagers like to for food.

Her parents are droppign her off down the street and not at our door because the kid is worried that if the parents see the art we have hanging in our living room, they'll not let her stay. We have 4 Matisses and a Picasso (reproductions, obviously) that are silhouettes of naked women. Well, all the Mattises are, the Picasso definitely shows nipple. IT'S ART! The other wall has a bunch of crosses from Ethiopia! Shouldn't that cancel it out? Oh well.

In other crazy news we may be buying an investment property this spring. A property we were interested in last fall is back on the market with some updates. It is in a fantastic, historic part of town (the neighborhood we currently live in), is currently rented out, and will make well above mortgage, property taxes and insurance when it is rented. It will take some financial finagaling and might make us cash poor for a year but I think within 3 years we can easily make double the monthly obligations from the rent. And any improvements in the house will increase the value tremendously. First step is going to be looking at it-it might have some horrendous deal breaking quality for us. If it still looks like a good fit after we see it we'll go in for the mortgage pre-approval. It looks like interest rates are even better than when we locked ours in in December 2014, so that may work well for us. It is exciting and terrifying!

4 Responses to “Budget update and exciting news (maybe)”

  1. livingalmostlarge Says:

    Why buy an investment property without refinancing yours?

  2. jokeabee Says:

    LAL- Our 10 year plan involves buying 2-3 investment properties in our current town so that we can take the income generated by it and live in a coastal city on the west coast. We want to be able to afford to do that without necessarily having to have a job for income. Obviously, there are a million steps between now and then and plans can change, but step one is investing in real estate.

    It also wouldn't be a bad idea to refinance our mortgage as well. Currently our interest rate is 4.25%, but if we could shave $50+ off our mortgage that would be worth it to us.

  3. PatientSaver Says:

    Got a chuckle out of your comments about the art. My mother had some somewhat risque art too and it would raise eyebrows with my teenaged friends growing up. Meaning, they loved it.

  4. ThriftoRama Says:

    Funny about the art. We've had a 5 year old comment "why is that lady naked?". Ugh. I'm sure he went home and told mom. We also have lots of tiki and godzilla pop art. Oh well. Who cares if the other parents think we're crazy!

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