So I worked a deal with a friend to buy a 5+ acre property on Wadmalaw
Island, they are tired of dealing with, paying mowing and taxes and
such. <60% of what they bought it for in 2006 at the heat of the
market. Just going to be a friendly deal, "pay what you want every
month, we'll set up an agreement" kind of a rent/lease-to-buy sort of
thing. I can swing that now until I sell my current vast estate.
Wadmalaw is much more rural, minimal development over there, next island
over. Exact same distance to that property from Town and wherever as to
the current vast estate. It's half forest and half cleared with grass
now (PITA to keep mowed, would be better as a big gardens area and a
shop barn) so some of each. One neighbor has a horse and goat they let
wander in their front yard to keep it mowed down.
When I sell the current vast estate I can then buy it outright and have
a pile of cash left to build a big shop/barn and some sort of dwelling
unit. I guess I should get the vast estate buffed up now, although with
lower interest rates I could refi again and cut my payment by like 20%,
or take out some cash to put into the new less-vast estate. I should do
that soon as the Yankees are coming down here with cash money paying
premiums to escape their NE hellholes now. Interesting times...
--
--FT (Real Estate and Benz Baron)
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