made “everything happens for a reason” work for us

it’s been 4 years and we still don’t have a family so we’re making this scenario work for us by planning for our future and we’re now income property owners!

the market in this area is RIDICULOUS right now.  after losing out on even seeing a few good ones at the start (because they sold the same day they were listed) and switching to a new agent we finally got to see 5 places over the last week and the 4th one is the one we got.

i have to say, wow, it’s incredible to see how others live.  i’m not judging.  it’s just very interesting.

it was weird looking for an income property after purchasing our own home.  i found myself able to see past colours, clutter and dirt but i still had my standards that i was holding each house up to.  the agent kept saying, “you don’t have to live here”, but i did think of the quality of tenant we’re looking for and i kept thinking if i was renting, i would rent because of this, this, this…

in any case you see have a few duds before you get a gem and really we were very lucky that we only had to look at 5 houses to find our gem.

we put in our best offer right off the bat.  we knew that there were 2 other offers submitted before ours so we had a good idea of what we had to do.  we ended up offering almost $6000 over asking.  we aren’t having a home inspection.  we didn’t put in a closing date so they could tell us what works best for them.  our agent presented at 11:30 p.m. last night.  they had him call to tell us they had another offer and that they were apples to apples. we responded with “that’s it.  final offer”.  i think they realized that they had a great offer and stopped pushing for more and in the end our deal was the one they chose 🙂  our agent was there until 1 a.m.! poor guy.  (mind you, he did just make about $4000 for 10 hours of work).

this home was the best on the street.  pride of ownership just oozed out of it.  it’s near a big shopping area, transit that goes into our city and down south (Toronto).  minutes to the highway.  good school zone.

closing date is august 7th.

now comes the hard part.  finding a tenant.  choosing a house of this caliber makes it a little harder to kept the “it’s a rental” mindset. ideally i would like a young, professional couple with no pets.  next would be a young family still preferably with no pets.  we’ll see.

i’m in charge of “marketing/selling” the rental so anyone out there that is a landlord with any suggestions when listing or choosing a tenant i would LOVE your input.

i definitely need to do some research.  or A LOT of research hahaha.  the first thing we’ll do for sure is join our local branch of the Ontario Landlords Association.

here it is 🙂

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that’s our real estate agent.

she never used to be but that was before she had a baby… at 47!  ya. she’s got a 19 year old, a 17 year old and 15 year old and now a 18 month old baby, well toddler now.  she thought she was going through menopause and found out she was 5 months pregnant.

life is cruel! hahaha

anyhoo, she blew us off for viewings last saturday. then messaged us 9:00 p.m. last night let us know we had no viewings booked for this morning…(we thought we had 4 or 5 to see)  a little frustrating seeing as we’ve had this booked with her since last friday.

so, as of today we’ve switch real estate agents. we ended our relationship with our agent nicely but there were a few things i would have liked to mention to her. the new agent is local, he’s the son in law of my parent’s friends.  he already gotten some of the new houses we’ve found booked to view on friday.

in the meantime we’ve lost out on 5 houses which have sold since last thursday…

oh well, it could always be worse… she could have had TWINS! LOL

we’re in the money….?

so you’d think when you’re about to start IVF #2 you’d not be thinking of business ventures and crazy hard manual labor BUT my husband and i are extreme busy bodies and just think, “what the hell, throw it onto the pile!”.

last fall we attempted to purchase a small home to have as our first income property.  i had just had a blighted ovum miscarriage after our first IFV and we were thinking of taking a break for a bit.  i was willing to wait 6 months so we could put our money and sweat into a rental property. we low balled our offer and didn’t get it.  we were totally fine with that and it was a blessing in disguise because just a couple of weeks later i was in a great deal of pain and found out i had a massive cyst on my left ovary that needed surgery to be removed.

– fast forward 8 months – 

this weekend we noticed a for sale sign was once again out on the lawn of the little house.  our real estate agent said that is was listed as selling for $125,000 but then there is no reason noted for why the sale didn’t go through.

my husband is a numbers guy and has been nerdily crunching numbers to see what we can work with at this time.

last time we couldn’t get ahold of anyone from our bank so my friend that works for competing bank got us in with one of the POBs at her bank.  he was young, like our age young, and although he seemed confident the things he said didn’t always add up.  in the end we left with him telling us we probably couldn’t even be approved for a $85,000 mortgage.  he said he’d process our info and get back to us on what we’d been approved for.  we never heard anything from this guy again.  i got a call about month ago from this guy saying, “hope you’re doing well and just wanted to touch base to see if i can help you out with any financial needs”. ??? WTF buddy! (insert head shake and eye roll here).

chris had an appointment with the woman we usually deal with at our own bank today.  he was almost giddy when i met him outside after work. just a note – my husband does not get giddy. so i took that as a sign that the appointment went well. he took me to the kitchen island and pointed to a piece of paper.  


that’s what our mortgage approval is.  

good lord that guy at the other bank needs to get fired.  like yesterday.

on top of that, we’ve been approved for an additional $30,000 on our line of credit.  TIP of the day:  when you are purchasing your second home you are actually able to use a line of credit as down payment 🙂

so we’re scheduled to meet with our real estate agent on friday at 11 a.m. to take another look at the house.  we’ll have a better idea of the shape the house is in after the horrendous winter we just had.  if it looks good we’ll have a long weekend away to discuss EVERYTHING once again and get our ducks in a row.

i hope we know what we’re doing… hahaha


this is ‘little blue”



ya, it kind of looks like a dump, and it pretty much is but just wait ’til we get our hands on it!