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Updated over 6 years ago, 06/04/2018
Finally moving forward.
My current primary residence was a foreclosure. I bought it because I needed somewhere inexpensive to stay during and after a divorce. My intention was to eventually fix it up, buy a second house, then rent this one out.
Well it's time.
I've already put an egress window in my basement (it's finished) so it can be used as a bedroom (there's a closet and full bath down there too). I've already replaced the flooring and toilet in the upstairs bathroom. I've already replaced the rotted privacy fencing. I still need paint, carpet new linoleum in the kitchen and tub/surround in the bathroom and it'll be ready to rent.
I've got a HELOC on this house which helps tremendously. I've got cash reserves and I've begun looking for another house to buy as my primary.
I must say I'm very excited but also a little bit nervous to take this next step.
Thanks to BP for being a wealth of inspiration up to this point and in the future.
I've already paid for a membership at ezlandlord forms and have those documents in order. I've also read the stickies about screening tenants and such.
I believe I'm ready.
So thank you!