Tuesday, December 15, 2009


We found out the good news today: the financing condition has been met and so we have officially sold our rental property! The cool thing is that we were able to actually sell it at our asking price. Although possession isn't until mid-January, it's time to celebrate!

My journey til this point has been rich with memories and new learning experiences. First, I read Rich Dad, Poor Dad, which gave me a vision for buying real estate (and not blaming things like "I'm a student" from stopping me). Then there was a year and a half of looking at properties, learning how to evaluate them, and trying to convince my dubious wife that this was, in fact, a good idea for us. Still though I hadn't yet mastered my fear and actually bid on a house. I remember how I had started trying to convince my friends about what a good idea buying real estate was and how I planned to do it - and then one of my friends Keith actually went and bought a property - before me! I was so mad at myself I called my realtor and said "You have one month to find us something, I HAVE to get a property ASAP!" Keith's upstaging me helped me to do finally do the hardest part: take action. Soon we had our first property, and we decided to manage it ourselves. I bought two books on landlording and away we went! After many ups and downs (and some interesting experiences with renters), we decided that our property wasn't a great long term investment (it had some issues that would eventually need tending) and now we've sold it. Ah the memories! We feel very thankful. If you want some more of the details about our experience, check them out in these old posts from 2007.

1 comment:

Stacey said...

Funny :) Are you looking for a new rental now? We still have ours, with no real plans either way at this point.