Apr 23, 2012

1 House Decision Down

Coming soon to a rental listing near you
(Assuming you live in Austin/Pflugerville)
For the past couple months,and especially the past week or so, we've been going round and round about house things. We want to buy a new place this year but there are so many questions. Do we build? Do we buy an existing house? What do we do with our current place? When do we want to move?

We don't have answers to all of them yet but I think we just knocked out "what do we do with our current place." The plan is to turn it into a rental property. We figure we can rent it out for 5-ish years, wait out the slumping market, and then sell this baby for a tidy little profit.

Since 5-ish years also aligns with the desired ranch buying time frame, I told Ross he could take whatever we make on this house and invest it into his ranch land. This seems fair because 1) let's be honest - we know who is going to do the bulk of the landlording work and 2) I've already been promised that when we sell our big Round Rock house in 25-30 years, I can spend the money on a beach condo.

Now with any luck, life, the market and in general, the universe, will abide by the plan.

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