In what seems like years ago but was really only a few weeks ago when Dustin got together "officially," I asked him on the way to church about us living together this year at school. He was a little reserved, reminding me that we already had leases.
Don't underestimate a man on a mission, specially if he has a little hard-headedness in him.
I got an idea while he was gone and began to look at some property stuff around school. My idea was to buy something as an investment for us to live in.
Monday, while he was sleeping in, I had a long talk with a real estate investor that I knew and laid my ideas on the table. She thought for a minute and said that she could see that I had put together a pretty thorough plan, but where would we get the upfront downpayment and costs. I hit her with what I had in mind.
You see, the investor I had breakfast with was Dustin's mom, who has done very well with her real estate investments. She had a lot of good questions, but mostly just wanted to know what the continguencies were if Dustin and I decided we were not right for each other.
I think my answers comforted her, because after a little while, she smiled and said there was no way she could not do this for her sons.
I had already narrowed it down to a couple of condos, a house, and a fourplex. We really like the idea of the fourplex.
She puts up the downpayment and Dustin and I will take care of the property and make payments using the rental income for the other three apartments.
When we sell, she gets back her investment first plus her percentage on the investment, which I thought was very fair. She did have us put in buy out clauses that if one of us wants to get out, we have to offer it to the other two at fair market value for our part first before selling to anyone else.
Call me crazy, but I think it works out well. We need to be able to move this weekend, and the fourplex has an apartment open now.
Oh, and the leases, Mom was able to use her wisdom to get us out of those and our former roomies will be rooming with each other now.
Hey, don't ever underestimate me when I am on a mission.