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mook · 10-31-2005, 12:38 PM

So here's the deal:

My wife is pregnant with our first kid and expecting to give birth within the next two weeks or so.

My brother's wife is pregnant and expecting to give birth within the next three weeks or so.

My wife's parents, who are English, have decided to immigrate to America. Their pets (a dog and two cats) will be arriving on Wednesday (luckily after the Blazer game). Her parents will be arriving some time in the next two or so weeks after that. All of them will live in our house with me, my wife, our baby, our dog and our two cats, making the resident population of my home 11 warm bodies. For probably several months.

I'm selling a rental property and will get more than $100k in profit after taxes and fees. That's more money than I've ever seen in my life, by a wide, wide margin.

I'm moonlighting 4 hours a day doing my wife's old job, just to keep that option open if she wants to go back when she recovers. But that may be moot because my wife and I are planning on starting a new business as soon as she can recover.

I'm not usually into the "hey, look at me" stuff, but this is so out of hand right now that I figure it'd feel good to write it all down.

**gambitnut** · 10-31-2005, 12:45 PM

With all of those bodies, you might try to see about holding on to that rental property for a month or so.

It sounds like things are about to get crazy, but that it will be a good crazy. Assuming you can stand your family. Good luck with that and have fun!

Any luck getting your book published yet?

ProudBFan · 10-31-2005, 12:52 PM

Good luck with all that, Wank. Especially the baby. Truly great news!

Echo 'nut's comment on the rental. Why not keep it for a while and use it for "overflow"?

PBF

mook · 10-31-2005, 01:05 PM

i'd given that some thought, but to be honest I'm getting cold feet about the real estate market. my rental is really a dump--it's a run-down old house built in 1910 and probably should get bull-dozed.

the fact that I've talked to so many people just itching to pay twice what I bought it for 4 years ago sounds so much to me like the irrational exuberance of the dot-com bubble. I mean, just this morning I showed the place to two "professional real estate investors" who didn't even notice that the foundation is falling apart, the plumbing is 90 years old and the electricity for the place is an inferno waiting to happen. yet they are dead-sure they can restore it to its former glory.

my spidy sense tells me to take as much money as I can and run as fast as I can. stocks may not be doing that well right now, but this crazy real estate market just feels like Enron all over again.

mook · 10-31-2005, 01:08 PM

also, even if I had a lot of faith in the real estate market, between that rental and my own home I'd guess that 90%+ of my net worth is tied up in real estate. I can't think of any sane financial investor who would recommend that kind of portfolio. it's time to diversify.

mook · 10-31-2005, 01:15 PM

Quote:

Originally Posted by gambitnut

With all of those bodies, you might try to see about holding on to that rental property for a month or so.

It sounds like things are about to get crazy, but that it will be a good crazy. Assuming you can stand your family. Good luck with that and have fun!

Any luck getting your book published yet?

yeah, her parents are really good people. I'm glad they're moving here.

the book got shuffled to the background for now, unfortunately. I had some agents interested, but there's just a ton of fiction writers out there and I guess they found better/more marketable stuff. I'll get back to it eventually!

ABM · 10-31-2005, 01:15 PM

Bully! Bully!

Good for you, man!

Real estate is where it's at. I'm in search of a 2nd rental.

tlong · 10-31-2005, 01:19 PM

Good luck with the impending chaos! Is your brother, his wife, and child moving in with you too?

Masbee · 10-31-2005, 01:25 PM

Quote:

Originally Posted by theWanker

i'd given that some thought, but to be honest I'm getting cold feet about the real estate market. my rental is really a dump--it's a run-down old house built in 1910 and probably should get bull-dozed.

the fact that I've talked to so many people just itching to pay twice what I bought it for 4 years ago sounds so much to me like the irrational exuberance of the dot-com bubble. I mean, just this morning I showed the place to two "professional real estate investors" who didn't even notice that the foundation is falling apart, the plumbing is 90 years old and the electricity for the place is an inferno waiting to happen. yet they are dead-sure they can restore it to its former glory.

my spidy sense tells me to take as much money as I can and run as fast as I can. stocks may not be doing that well right now, but this crazy real estate market just feels like Enron all over again.

The real estate market may or may not have peaked. And Idaho has been less frothy than many other parts of the U.S. Two points:

Timing the market - any market - is near impossible. All you do know is you have a great profit locked in now. Selling at a large profit is a good thing even if you could have made more had you owned a working crystal ball. And, most times, when you want to get out, you have to do it on the way up, not on the way down, which is very difficult. Try catching a falling sword.

You know that part of the value of your property won't stand up to scrutiny. Liken to the dotcoms with no profit, or worse hardly any revenue. That bad infastructure is worrisome. The longer you hang on to a property like that (unless for lot value only) the more likely something comes to the fore that smashes the value. Also, homes in poor condition do very poorly when real estate markets do come back to earth. Only in frothy markets do "as-is" home sales make the sellers happy with the price.

Don't you work at home? How will you be able to get any work done with all those people during winter when everyone is stuck inside?

Good luck.

**Trader Ed** · 10-31-2005, 01:29 PM

Congrats on the pregnancy theWanker.... it will be a very great experience for you

There is no experience quite like a birth

and also good news on your impending profit.. great job as well!

chromekilla · 10-31-2005, 01:32 PM

Congrats on the baby.

**gatorpops** · 10-31-2005, 04:20 PM

Congrats on the impending kid. Sounds like a good job by all.

Wow! That is going to be a stressful situation. I hope you have a big home.

It seems that your biggest problem may be getting to watch Blazer games. How will you know how the kids are doing if you can't watch?
Will you even have time for the Blazer forum?

Yeah, I know family is more important than the games, but it is a sacrifice. Maybe you can convert them all to fans. Hope so!

Go Wanklers and Go Blazers!

gatropops

MARIS61 · 11-01-2005, 01:32 AM

At least it won't be dull in Wankerland for awhile.

Mmmmm.....Bangers and Shepherd Pies!

**Trader Ed** · 11-01-2005, 08:32 AM

The Wanker...

think of it this way... 18.5 more years and the baby could be a Blazer!

Redbeard · 11-01-2005, 08:41 AM

Congrats on the coming family addition. I pray all is well.

As for the house, this is one of my current frustrations. I want that rundown early 1900's hours to rebuild, but they are all priced so high that it is difficult to remodel without significant capital. Realators are looking more like lawyers and doctors these days. If you are inclined, please send me some info about your property.

Have a great winter.

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