Becoming a Landlord (and a Homeowner)

July 26, 2012

Atlanta, Life, Travel

The other day I double clicked on our “2012 Goals” (which sits perfectly unorganized on our desktop) and I couldn’t help but smile.  A much more appropriate title for this document would be “2012 Goals, Dreams, and Miracles” because the second goal listed is “Have a Baby” and we all know that having a baby is truly a miracle.  In any case, “goal” #2 is currently in the works.

Goal #1?  Buy a House

As I mentioned on Tuesday, Goal #1 is official. We are homeowners. It’s pretty incredible to finally be able to say that.  We’ve been house hunting for nearly two years. We found this particular house over two months ago. And we’ve had one heck of a time finally closing on it (it’s complicated because the property is a Duplex and an Investment Property).

But it’s official. And it’s final. We’re homeowners.

More importantly, however, we’re Landlords.  Well, I’m a Landlord and Travis is my sidekick who’s too busy with real work to deal with Landlord responsibilities.  Understandable.

I’m a Landlord. And I’m not only a Landlord for one unit…I’m a Landlord for two units totaling six people, one dog, and one cat.

CRAZY.

I’m not only a Landlord of two units, either. I’m a long-distance Landlord. And I’m sure many of you can probably guess where my tenants live…in Atlanta, GA.

We bought our Investment Property in Atlanta. It took us over two years because we could only house-hunt when we visited my family. It also took us two years because we were extremely picky when it came to the house, the neighborhood, the school districts, the size, and basically every other aspect of a house you can think of.  It’s been a long time coming, but when we found the house we now own, we couldn’t pass up the opportunity.

Thank goodness we have Property Managers who live a few blocks away – my parents.  And if they happen to be out of town and disaster strikes, we have backup property managers in my brother and sister-in-law.  Not bad.

The best part about this purchase?  We’ll be cash flow positive immediately (thanks to the fact that it’s a duplex).  Not a bad investment if you ask me!

So for everyone who thought I was just traveling back and forth to Atlanta purely for pleasure, now you know it was actually for work (well, and for some pleasure as well…I can’t lie!).  The past two months have literally been insane between everything with the house, mini me papers, and all the other “things” going on (ie : pregnancy, chasing after a crazy 18-month old, etc) and I’d love to say everything is slowing down, but that’s not the case.

Now we’re getting things figured out at the house before our tenants move in (with TONS of help from my parents!) and I’m catching up on 15 or so orders of mini me papers while trying to set up power, water, gas, security, pest control, landscaping, and probably a few more things I can’t think of right now…

No wonder sleep has been hard to come by!

Anyway, it’s fun to finally share this news with everyone.  And while we’re not living in the house we purchased, it’s still fun to say we’re not only homeowners, but we’re Landlords as well.

Now it’s time to focus on the rest of our “2012 Goals” before this little baby decides to make an appearance.

Oh, and last but not least, here are a few photos of our Investment Property (they’re mainly of us celebrating…more actual house photos to come later) ::

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9 Comments on “Becoming a Landlord (and a Homeowner)”

  1. Megan B.B. Says:

    Congrats to you and T! I didn’t realize it was a duplex too! How exciting! Guess you’ll just have to make more “business trips” out there now, eh? :)

    Reply

  2. Anina Duren Says:

    Congrats on such an exciting adventure! Much luck to you all :)

    Reply

  3. chris Says:

    Woohoo!!!!! :)
    Need I say more!

    Reply

Trackbacks/Pingbacks

  1. Pregnant Mommy Fitness :: Weeks 23-27 | 7x7xMommy - September 15, 2012

    [...] in Atlanta this week where the food was abundant and the working out was limited (and where we were working on buying an Investment Property that I didn’t tell anyone about until later…sneaky, sneaky!).  My workouts consisted [...]

  2. Family Time at the Atlanta Zoo | 7x7xMommy - July 23, 2013

    […] 5 days into our Atlanta trip (visiting my parents and meeting the new tenants moving into our investment property) and one of our first big adventures was heading to the Atlanta Zoo with the whole family. What a […]

  3. Third Pregnancy :: Week 21 | 7x7xMommy - January 9, 2014

    […] moment of the week: Deciding to turn the apartment side of our Investment Property into a furnished apartment that we’re going to rent out on Airbnb/VRBO. It’s been a HUGE […]

  4. Investment Property Turned airbnb in Atlanta | 7x7xMommy - February 20, 2014

    […] Remember our investment property!? […]

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