Plus one to my condo count!

[flexagon]

Hello world, I closed on my new condo today after over three months of offering, bargaining, waiting and so forth! And then, in very short order, I took an air mattress and some sheets/towels/etc over there and installed my visiting friend in that condo. Might as well save him a few nights' worth of hotel fees.

I was really worried about the wire transfer going through in time, because I have vivid memories of sitting around at some closing just waiting for the banks to finish doing their thing. But it seems that nobody worries about that stuff anymore; today everything happened entirely out of order AFAICT. Like -- after a super quick peek at the property the realtor gave me the keys early, and then I signed papers, and later in the day the wire transfer went through. Hopefully the sellers will sign the papers too. Eventual consistency, I guess? No big deal, it's only a super enormous financial transaction and a home. /s

I could maybe wait to receive fully executed documents, and/or until paperwork is filed at the registry of deeds, before I install window blinds and coat hooks. But also, if nobody else seems to care then why should I? I am minus some money and plus some keys, and I don't think anyone wants to reverse any of that.

It's likely going to be a while yet before any income occurs as a result of having this unit, because the rental market is pretty dead here between September 1 and Jan 1. So this is both fabulous and anticlimactic. Maybe I can find a way to make use of this somehow? If nothing else, it's a spot for some easy alone time, or for stashing/unveiling any really enormous holiday presents.

Comments

[jadia]

Art studio? Party location?

[jadia]

Pop up event hosting?

[flexagon]

All of these would be fun! Of course I don't want to trash the place, either. So aside from a pizza party on the floor with my polycule, I will likely not do these things.

....reads things online...

An epic domino chain though, that could be kind of awesome.

[jadia]

One of those rube goldberg things! 😆

[randysmith]

Congratulations on your growing condo empire! (And on this one in particular; I know it's been a pain.). What's your count now?

[flexagon]

Technically speaking, I own:

• Half of the condo I live in ("tenancy in the entirety" with my spouse)


• 1/4 of a 2-family that the squirrel family lives in; which consists of half ownership of two rental units. Squirrel family owns the rest.


• one entire new condo, which is tiny but MINE ALL MINE
  

So three properties that I need to keep an eye on. Oddly, this one is the first one I've ever owned entirely in my name. I gave both my partners a chance to go in on it with me, and the offer remains open, but neither of them seems likely to do so in the near future. I think that in the long term, the squirrel may want to decide whether to go in with me on real estate (in which case, more condos and houses someday) or consolidate his own little empire (probably buying me out of his house in the process). And the bug just needs to figure out his finances overall; he has a few options I don't that are easier than buying condos, and he also likes to not be locked into things, so maybe real estate isn't his jam.

[fairoriana]

My son is threatening to drop out of college and rent an apartment and work instead. (Which.... I get and doesn't seem like the worst thing to try). He and his buddy might be short term renters, but I REALLY hesitate to put any of my relationships on the line for a pair of dumb 20 year olds being good tenants.

[flexagon]

HAH! I'm mildly tempted -- how often could I keep tenants in line by threatening to call their mom!? But really, odds are excellent that these two would want to be in the lower end of the market.