Topic: I'm a millennial that's been house shopping for 4 years. Finally got a break. (Read 275 times)

I know the feeling that comes with property acquisition and its even more when it takes you a greater time to achieve it.

After you have gone through series of challenges associated with accommodation, you'll be certain on acquiring yours and that's like a journey for you. Once you achieve it, you'll celebrate it

First of all congratulations on a great achievement, being a home owner is not easy in the current climate.
It sounds like you really do have yourself sorted & your shit together, so to speak. Would be good to make this thread a real project & update with how you’re getting on with the work. I will be sure to follow the progress.

First of all Congratulations. Home is a dream for everyone and you somehow got the chance to get it. I hope your next target will also be success in future. You can add some pictures to the post. I think everyone will love to see your dream home.

So a quick update , sorry I haven't uploaded pics but I will my phone broke working on this place so all my progress pics are spread out on various platforms I've sent to friends as I've worked on stuff.

So at the end of July I finished plumbing and did shutoff valves. I was done with all sheetrock work as well at this point so I dropped our cat off to mouse... The little asshole used the faucet by the kitchen window as a parkour jump point to the window and slightly opened the valve to create a fan of water that hit 3 walls and the ceiling ...(wasn't a ton of water.... But it was high pressure ...) It totally knocked the texture off the ceiling, and water logged 2 of the 3 walls . So I basically had like 1 day to fix all that stuff as we where set to paint everything and seal the floor and move in.
We ended up getting our own RV from family member so we found savings there.(insurance and future rental).
The house had wire pulled , but nothing set up, it had a ghetto 1 gang outlet in the garage on the panel for a lamp.
I personally pulled 30/60 amp for stove, heater,furnace,outdoor compressor and RV service. And wired up everything else. (This was much easier than I initially thought though, 110v for example , white man wears white gold, black man wears black gold that's literally all you need to know doing basic residential electrical unless your doing some 220 stuff.)

We are still working towards septic, kitchen cabinets and counters.and little odds and ends such as trim, light fixtures/fans (I have temporary stuff up) and have been replacing slowly.

I need 750k for the 13 acres ,but I should probably worry about septic and kitchen for now 😂
We really wanted to video log the real progress but the problem with that was our time crunch.

I will update on this soon. I have 9 or 10 days left to get things ready for the move. but Ive tried to remember to take pics as I do things,

Looks like you've had quite an adventure. I wish you the best in completing your dream home!

Very well, congratulations that you finally got your house, despite all this suffering, it's a good thing to have your own house after all this trouble.
This thing is probably a dream for many people in many countries. It is never easy to have your own home.

(for pictures if wanted)

Let's go back to 2019. Pre-covid.
Apr was around 3.8 FHA required 580 credit score.
And you could pretty easily get approved for 80-120k for your first home, and there where options! Cash buyers where only grabbing 1 out of 5 houses on the market.
Well, I didn't have my shit together ,didn't have long enough credit/work history (Ive always been a cash on kind of guy and have worked for myself in various kinds of employment.
Carpentry ,crypto, computer repair/sales ,carpet shampooing random hustles to make bills and ends meet.) So we had stipulation approvals that didn't really make sense , double interest rates, 10+% down  and everytime we applied they wanted 20-40 credit points better each time! So even when we would get approved the terms where fuckin trash and a deterrent. Now I know the whole nations been dealing with this but I reside in Waco TX area. Home of magnolia.
So these issues propagated here, now we had a bunch of Californians selling there 800sqft shacks in Cali and upgrading to 4,000 mansions in Tx. So the inflation here propagated , we realized we where on the front lines of this battle here in Waco.
So I started approaching it different .
Looking for owner financing houses.
One of my clients I fix on his tractors every season(we also tried purchasing a RV he had once) caught wind of our goals and told us about a place he was building simply to have a better address for his grandkids to go to school. Said hed entertain selling it, we go check it out, it's a cabin sitting on 14 acres brand new (incomplete build)
This wasn't any ole cabin though, it was a steel built shop/barndominium, it had water , electric , the basic build was done , it lacked weird essentials such as lights, sockets, register covers , a kitchen, bathrooms.
A bit out of our scope at the time due to price and work needed .
Fast forward to 2023 , I'm still looking and half my heads gray or bald at this point. I never forgot about this place so I call the owner of it back up.
That house had still been sitting without a front door , weathering away.
I tell him I need a rope. And your the only one holding enough rope to pull me out.
I tell him I have 5K down will fix the house  up and live on site in the RV he had untill it's habitable, and explain I want a 10 year loan on it. 6 months reprieve after down payment
 I pitch a shit show of a plan (good plan but hard work and a lot to do but a feasible one!)
This place needs aerobic septic installed
Outdoor ac compressor,
Waterheater
A full kitchen, 1.5 bathrooms
A water heater
And the trim/fixens
-
It has rooms, been taped bed and mud/textured/primed.
Plumbing is in and electrical pulled to all locations. Indoor ac coil and ducts installed
It's a vaulted build that very well insulated!

The cool thing is this guy really heard us out and helped cater a growth plan into it. He also did it at about half the market value (since its incomplete and has a few small issue that pertain to it being unoccupied without a front door!)
I currently pay ~2800 a month in rent at my current house and warehouse. I can build a shop out there for about the same price as 2 years of rent at my current shop.

Anyways, this has been a adventure.
If I can scratch up about 40k to finish this place out in the next 5 months I'll be in good standing ! I'll upload pics as it progresses and keep y'all up to date if wanted.

We are going to try to take advantage of the inflation reduction act to get a lot of this done ,so many incentives and rebates, it makes sense to buy the qualifying appliances.

Welp ..that's my story of how we bought our first house!
Ps.we only get 1 acre of the 14, but we get to use the other 13 untill it's sold!