Sometimes life happens

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Set a goal
AJ: For the first time in our almost eight-year relationship we decided to make New Years resolutions together this year. After reviewing our end of year finances for 2012, we felt like finding an investment property might be a good way for us to further press on towards our retirement goals. My daily cruising of my Zillow app suddenly had a purpose and we began seriously considering a wide range of properties to potentially invest in. After looking at a lot of houses online and in-person we finally made progress…just not in the way either of us intended.

Expect change
KJ: In the last month, we have seen a lot of change. We thought we were looking to buy a house we could flip, then we decided we wanted to move into said ‘flip,’ then we decided to rent our house instead of sell it, then the ‘flip’ house was unavailable, then we decided to purchase a new home, then we decided to rent our existing place, and then we decided to sell our existing place. So many decisions and so many factors have been coming to the table at each stage of the process that our heads are spinning. It doesn’t help Angela that I will analyze every decision with a spreadsheet to look at ‘what-if’ scenarios and all the relevant factors to see what the ‘best’ scenario may be. Some of you may think I’m crazy while others of you may say “I do that too!” Regardless of which side you take, in today’s world we sometimes get ourselves into information overload.

AJ: Kirby and I are typically a great team. Generally, we communicate well-ish (considering the whole Mars/Venus thing at least), we strive to achieve similar goals, and we agree on what matters to us. HOWEVER, sometimes Kirby makes a lot of spreadsheets. And sometimes it’s really hard to keep up. And sometimes I just want to say “do whatever you want!” But at the end of the day, Kirby has protected us from emotional and financial disappointment time and time again and even though I can’t really sleep trying to keep up with all of the decisions we’re trying to make, I keep coming back to our resolution to get ahead even if that means we make a few risky decisions that could push us back a little in the process.

Somehow we’ve bought our next 10+ year home. Not a flip, not a true investment property, a home. Which means we now own two beautiful, structurally sound, mortgage-carrying homes. One of which is full of stuff that needs to be packed and moved within the next two and a half weeks, and one of which needs our animals and personality to make it warm. How the heck did that happen?

When solid analysis fails peace-of-mind
KJ: What this process has taught me is that sometimes, the math may work in your favor, but the risk and peace of mind may not. Sure, if we kept our existing place for 5-10+ years, rented it for $X, had $Y in repairs, replaced $Z for each tenant, yadayadaya…then it would all turn out well in our favor. But is the potential financial upside worth the stress and current unknown? We’ve all heard horror stories of renting, but we’ve also heard tons of stories that have turned out quite successfully. When it all boils down, the question that keeps coming to the front of our minds is “is it the right thing for us NOW.” Timing (especially in the real estate market) is everything, and when it comes to life changes, sometimes the mental timing is more important than the financial timing…

AJ: Wait…now I’m confused. Are we selling our house or renting our house? Just kidding, KJ. 🙂

    Have you had plans that made financial sense that turned awry?
    Have you had a shaky plan that turned out better than expected?
    Tell us about your trials and tribulations and how they turned out

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