Business vs. personal finances ??

There was a great house for sale at a significantly reduced price that will make a good rental with no (and I mean no) remodeling or redecorating. Scrub the carpets, wipe down the walls and we’re good to go. Well, we need to get a fridge and stove, but we’re putting money in the loan for that.

So, no, we didn’t buy it with cash. But by the time we have enough to buy a house with cash (for a rental, that is), the housing market may have recovered and we won’t find as many really good deals. I still maintain that I won’t take out a loan for a new house for us.

So, what we are getting is a Wausau manufactured home on a double lot west of the tracks in that subdivision, on a deadend street, so it is a very, very quiet neighborhood. There is no basement. There is a non-attached two car garage and the house has two bedrooms and a full bath on one end, then the living room in the center on one side and the kitchen and dining room across, then the other end has the master bedroom and bath and a laundry area sort of in a big hallway to the garage entrance. I know the lady who lived there before her stroke, but I didn’t know whose house it had been until after we’d made the offer and had it accepted. But the story about how this house came to be for sale sounded familiar, so we looked up this gal’s former address and, sure enough, it was hers.  I knew it had to have been an older person, because everything is so clean and nice. The plan is to get in there and spruce it up a bit and have it rented before the first payment is due!  Won’t that be a switch?