Thank you both for the info. Both of you have great ideas, and Mike, you really have my situation pegged. As to the SSA question, you can own a mansion, as long as you live in it. However, you are not allowed to have rental properties and still collect SS. My medical condition prevents me from working a conventional job with conventional hours. There may be days when I could sit in front of the computer for endless hours, or have an excursion of some sort, but then the next day I can't get out of bed. SSA allows me to earn up to $600 additional per month, and anything beyond that is deducted from my benefits...and while some might consider holding on to that limitation not the best solution, it *is* necessary because jobs and finances can come and go, but my illness isn't going away, and will only be antagonized by the stress of worrying about being homeless. It can take up to two years to get re-instated....involving lawyers and drama I just can't take. My other option is HUD and welfare, which has already approved me. I just don't think I want to have my rent paid by taxpayers while I still have a mind that works great and should be able contribute to society in some way. In the five years I have lived with this problem, I have not taken that option. It has been a real struggle, but I know I am doing the "right" thing.
In June my son turns 18 and is scheduled to join the military. Once he leaves my benefits will be reduced accordingly, and I will not be able to keep the house I currently rent...which is fine, because I want to move back to Orange County anyway. I would like to be able to purchase a small one bedroom condo in the Seabridge community of Huntington Beach. They are a property that has a history of selling well, and would be a good investment for anyone.
I have a "nose" for distressed properties...however, I don't want to live in one. LOL. I have been living in a hundred year old house for ten years, and it is just too much work. (Although I dare say it is the only one around with an Italian marble mosaic bathroom floor that I did myself at a cost of $22--did you know that some companies that tile mansions in Malibu throw their "scraps" out and will flat out give it to you if you haul it?) I also have worked as a graphic designer, and my artistic eye sees the possibilities. I would like to be able to find someone who is an owner/agent and needs some leg work done--finding the property prospects, assessing/designing/supervising the cosmetic aspects for the flip, hostessing and promoting the open houses (I make a killer brochure). But rather than getting paid in money, I'd like to find someone willing to work something out with one of those little ground level Seabridge condos.
I am an educated (Pepperdine University), 46 year old woman who wants to live a quiet life in an area where her neighbors are at her peer level. Unfortunately, my health has made that goal unrealistic....well, for anyone but me, maybe. Heh. And that, my new friends, is why I am here.