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Updated over 9 years ago on . Most recent reply

User Stats

28
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17
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David Shulski
  • Accountant
  • Selden, NY
17
Votes |
28
Posts

Spending every free minute fixing up this house

David Shulski
  • Accountant
  • Selden, NY
Posted

Live on Long Island NY.  Because of the high real estate taxes on Long Island it doesn't make sense to rent properties unless you are holding section 8 homes where you are guaranteed payment each month.  I really don't want to do that.  So I have invested everything I have into a foreclosed house.  I'm 3 months in, but I'm spending all of my time fixing it up while trying to maintain my 9-5 as an accountant.  It is exhausting.  I'm staying on budget and I'm hoping to pull anywhere from 50-90k from this investment.  But it is taking a toll on me.  Is this how it starts.  It's a learning experience, I know.  I'm single right now so I do have the time.  I don't know how I'd be able to keep up if I was in a relationship or married.  Hopefully I can learn what is worth doing myself and what is worth paying for.  Is this normal.  Does everyone have these growing pains at first?

Most Popular Reply

User Stats

41
Posts
27
Votes
Matthew Jones
  • Business Metrics Analyst
  • Cornelius, NC
27
Votes |
41
Posts
Matthew Jones
  • Business Metrics Analyst
  • Cornelius, NC
Replied

Just like every hobby or business, it takes blood, sweat and tears to be successful. The struggle and grind creates character and you will learn how to do things better and faster with experience. Some parts of your rehab are cheaper and more efficient to have someone else do for you. (IE...roofing, siding, sheetrock...just examples)

Keep up the hard work, it does pay off! And single or not, when you find the right partner in life, they will join the struggle with you to make you both successful.

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