IF you’re not aware - my wife and I just bought our first home. This is huge since we’ve had months in the past two years where it has been hard to come up with our rent, without borrowing from relatives. Due to hard times our credit was shot, but thanks to the housing crisis – foreclosures are plentiful.

We bought a triplex about 1 mile from Case Western Reserve College. It only cost us $3,000 – yes it needs about 5-10,000 in repairs but it appraises over 100,000 and is in ok shape all things considered.

Needs some drainage pipes fixed, fireplaces need repaired, porch and flooring need fixed, but can’t complain for $3000. I’ve never bought a car cheaper than $3,000. My rent for 1 year was around $8000.

Now that we don’t have a rent payment we can afford to put money into fixing up this house. I’m hoping to eventually use it for college housing, or sell it and upgrade to a nicer home for my wife and me. Either way it’s nice to know we went from renting to owning a home – outright in a month’s time.

There’s a huge piece of mind that comes from owning your own place – especially when you don’t even have to pay for a mortgage. I highly recommend it to anyone out there. If you’d like to find a foreclosure you should check out homesteps by freddie mac. It’s a free listing of homes in forclosure anywhere from $700 – $200,000.

I’m glad we made it here – we moved from Utah – we went through Denver on Monday – and just heard on the news that there’s a big Tornado rolling through Denver, CO. That’s just crazy. Kinda hard to believe we were just there. I tell ya, moving from Cedar City, UT to Cleveland, OH has been a huge ordeal – I’m glad it’s almost over, and will be extra glad when the house is fixed up a bit and fit for living.

 

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