Control and Delete is the solution for our  preconceived ideas for housing.

Previous trends in Real Estate were:

1. First Time Buyers find little house and little payment
2. Second time, move to bigger house, bigger payment
3. Get way out of control!
4. The results of this trend equal more and more debt.

Recently, I was a consultant for a young professional couple whose financial statement reflected:

• House payment $1,400.00
• Student Loan payment $1,900. (per month)
• 2 car payments
• fixed expense and groceries

The house is $7,000 in arrears and with a foreclosure notice.  They each have a masters degree.  How sad is this?

What is the solution?  It is Plan B.  Affordable Shelter/Little House, No payment and mix well with common sense.

Think about it.  We each must have food, clothing and shelter. A big house doesn’t only add a big payment, but higher utility bills, more expensive insurance, higher taxes, and maintenance.

Do you see a little house in your future?

Is there money hiding in your house?

Do you have a room that would convert to a home for a single person?  How do you determine if it would be profitable for you to rent a room in your home.

Does the room have a private entrance and available bathroom?  Is it furnished?   Do you have an empty room?

Can you answer yes to any of the above questions?  Depending on your location a room could bring a $150.00 per week or $600.00 per month.

Analyze your present utilities.  If your power is 100.00 per month and 3 people now stay in your home, divide that by 3 and that will be $33.33 per person.  Divide by four (for your potential renter) and it will be $25.oo.  Do this for each bill that will benefit your renter.

If your total is $150.00 and you plan to rent it for $600.00 per month your net will be $450.00.  Is it worth it to change your mindset regarding your home and rent a portion of it as a little house for someones?

For more suggestions regarding sharing your space for profit, just drop me a note in the comment space.

 

Plan B is more defined with dates and goals than Plan A.  Since I am following the Four Hour Chef to accelerate my activities, this month includes a weight loss of 1 pound a day.   I started on January 14th and I am down 3 pounds.

Finances, will expose a budget by the middle of February.  At this point I don’t want to make it public until a couple of accounts are negotiated and a defined let’s make it work budget is in place.

The little house will probably evolve as a Lease To Own existing home with the little building conversion coming by fall.

Extra funds will be generated from the workshops for how to build a little house, how to convert an existing structure, homes within a home and general real estate information.

This weeks shopping includes looking for land and also the house for lease with option to purchase.

Duh!  While searching for land I opened my eyes and heart and I must share I see little house possibilities everywhere!

Granted, my little storage building conversion home will be a custom fit.  There are zillions of other possibilities.  Some of those possibilities could be a solution for present homeowners to avoid foreclosure.

Evaluate the next post to see if you have a little house in hiding!

 

 

 

Little home spaces aren’t new to me.  In the late 80’s and early 90’s I rented 6 individual rooms to college students.  Hey,  a Big Old House converted to 6 little residences.

During a time span of 4 years over 20 Students called that address home.  I learned from them, loved them and enjoyed a financial benefit.

Each student rented a Big Private Room, enjoyed shared kitchen privileges, bath and community study area.  The front living room also served as an office for my Real Estate Company.

If you live near a college, have an extra room, perhaps there is a hidden little home and money source for you.  It also provides an affordable house for a young student.

Since each student called their room “home”  it would appear to me these may have been 6 little houses lovingly wrapped in a big package.  What do you think?

I want a house for Mothers Day!   Actually, I want to be home in 90 days.  Wow!  That is a stretch assignment.

My little dream for the past 6 years was to build a little house in the wild-wood. hmmmmm

If I had $40,000 I could do that in 90 days.  If you have $40,000 I can teach you how to build one in 90 days.

If rabbits carried pistols hounds wouldn’t chase them!

Now, since I don’t have cash in hand, I need to broaden my scope and see the bigger picture.  Home Depot has a little building that will easily and quickly convert to a little house

What shall I do since I can’t buy the little building?  It’s time for Plan B!

I have decided that the area surrounding Sevierville, Tennessee is my location for home.  Actually, that has been a thought in the back of my mind for a long time.  You know, sometimes you always dream of going back to a place where you have lived.  Well, this is that area for me.

I shared with my son that I felt like I could just drive to the spot.  That didn’t happen!  So,  I am going to spend time the next two weeks trying to find the property that I can negotiate to own.

To recap, the first tangible action on my part was to decide a geographic area.  Secondly, it is to research, visit and make some offers.  As we go along, I will share with you how I make offers and why we use the plural term of offer.

In real estate you make your money when you buy.  It’s important to spend time here.  Do you remember your last purchase?