House Info

Well, Lee and I are landlords! The house was finally rented out on Thursday. It is such a HUGE relief for me. At times, it seemed like this day would never come. I purchased the house in November 2007 and we tried to put it up for sell a year later. Ofcourse, the market had taken an awful turn by that time. A relative of a neighbor asked if we would be interested in renting it out, so we began preparing to rent it out then. It was ultimately ready in January (which was the when the neighbor's relative's lease was up). The house was inspected-failed, inspected-passed-wrong paperwork, inspected-failed and as of Thursday inspected-passed. Mind you, the renter had to move in when she left her former residence. The bureaucracy took over a month to get everything straight. Everyday I would disillusion myself that "today was the day." The day I finally gave up and decided to focus on something else was the day we received the news. To sugarcoat everything they will retroactively be paying the missed rent. We will be receiving twice our monthly mortgage payment (15-yr mortgage even).
Lee and I had some difficulty accumulating all of the necessary documents for our taxes this year. We decided that we would have our taxes done, because we both consulted, had 9 w-2s, moved 2-5 times, attended school, repaired a house, etc. I am sure glad we did. I ended up having to pay a hundred-fold less than I thought thanks to some clever CPAs. All of a sudden, purchasing a house in IL seems more reasonable. That is our next big project.