thatgirl2478's rental home

[thatgirl2478]

Built: 1916
Lived there: 2003 - 2011
Rented out: 2011

SqFt: 1510
Bedrooms: 3
Bath: 1

On a standard city lot - nothing exciting

Upgrades we did:

- kitchen
- refinished floors
- replaced water main & sewer line
- replaced gravel drive with asphalt
- siding
- brick patio and yard drainage
- finished attic
- closed a doorway between two bedrooms
- replaced old broken doors with new french doors w/ curtains for privacy
- etc

And we'll probably have to make a TON of repairs when this renter is out. Which wont be for a long time because she's section 8 now. Of course we could sell it, but honestly it's not worth it at this point. We would have to bring about 30K to closing.

Here's what it looked like when we left it:

[mrsemilys]

Very nice! I love the flooring throughout!

[housegeek]

That place looks lovely! Where are you staying now?
I thought section 8 was low income? Do you get compensated for the difference?

[thatgirl2478]

Oct 25, 2012 12:56:41 GMT -5 housegeek said:

That place looks lovely! Where are you staying now?
I thought section 8 was low income? Do you get compensated for the difference?

Thanks, it was lovely.

We moved to central IL - I need to put pics in my other bio.

Section 8 is low income... when she moved in she had a good paying job, but lost it shortly after moving in. Now she's section 8 so we automatically became section 8 (normally there's a long waiting list for both landlords & tenants). We did have to take a rent cut, but only $100 - and no we don't get compensated for that difference.

She pays her portion - say $100 / mo and the gov pays the rest - $900 / mo. We were getting $1100 / mo (which she somehow managed to scrape together every month while being on UE). It's not glamorous, but it helps pay the mortgage. And, if we keep her in there for 4 ish years we'll own the house free & clear, so that's some incentive.

[housegeek]

Wow thats awesome! 4 years is worth it for sure.

[thatgirl2478]

Oct 25, 2012 14:15:29 GMT -5 housegeek said:

Wow thats awesome! 4 years is worth it for sure.

It is if I don't think about it too hard. It's bittersweet...