RE: My $5,000 Homestead - Picture Tour on Day 1
Awesome Buy!! In Connecticut for $5,000 that will barely cover the taxes on a $150,000 house!! I think you hit a home run here - Hazmat Suits ($200) Oxygen Mask ($40) renting a 20' dumpster x4 fills ($200) and lumber for building a log cabin ($800) Basic Furnishing of the cabin ($1200) & paid labor ($1000) - in my eyes for approxiamately ($3440) plus some sweat, hard work, and then jumping in the lake to (shower/refresh) - I'd personally move to Arkansas -
Approxiamate investment total $5,000 + $3440 = $8440 and I think you could sell the property and cabin for $40,000 easily - if not $60,000 - Depending on how big/nice of a cabin you can build. Oh yeah - ($60) for some fruit bearing trees and ($500) for some high end Antler decor on the walls of the cabin and call it $9,000 total investment - I'll personally offer you $35,000 before the cabin is built and pay you 10% ($3500) up front to cover the remodel costs - so you could be looking at realistically only a $5,000 investment plus hard labor and the potential for catching some funky home-brew disease - and come out $31,500 ahead in a few months.. That's a 6,300% profit! Can we talk contractual agreement yet? I've already got a lawyer preparing the paperwork.
Full Disclosure (I'll live in the cabin for a year by myself - buy a few reads of paper and dust off the typewriter and write a book on how @bobbleheadstead changed my life - Then dissamble the cabin and build 6 mini 1 room cabins and rent them out for $500 a month - (Great Deal!) and come out ahead by $1,000, have the book published - take the $85-90,000 book royalties and build a replica White House cabin the size of the White House and enjoy the rest of my life on Blue Mountain Lake without a care in the world..
Please send me an address to mail the official contract and deed transition paperwork to you and I'll send you a 3000 STEEM to cover the $3,500 downpayment. Please Reply/Comment and tell me it's a deal or it can be one with tweaking some of the details -
If you decide to use my plan of "Mini Blue Cabin Resort" I'd appreciate 5% of your annual residual income from the proceeds of renting the cabins - roughly 100 STEEM to my account annually up front of 8.333 STEEM Monthly - Either way ya can't lose..
If you can keep Clue the board game from the 2nd indoor hoarding pic I'd appreciate it if you could mail it to me in Connecticut :)
MUCH LOVE AND AN AMAZING PURCHASE FOR $5,000
Whatever you do - Please make this post into a storyline so everyone can see the transition - That would be really cool!
LOVE,
@krytonika
Sounds interesting. A septic system would be required if you've got more than a couple people there, and the ground is full of large rocks. Its a river valley between mountain ranges, so digging would require heavy equipment. I haven't priced above ground septics that are emptied every so often, that would be another option.
I love the way you think and those are some great ideas. I haven't even spent the night on the property yet, or gotten the see the back half with the forest. So its a little premature for me to take you up on it, but I'm not saying no.
Having a few small cabins to rent out might be a good money maker with Blue Mountain Lake right there. Don't know if people would want to live that far out from everything, but spending a vacation week or weekend there would be ideal, and have a boat or jet skis to rent to them to enjoy the lake even more. That's definitely in my mind for the future.
Thanks for seeing all the opportunities a place like presents, and stay tuned, it'll be a few weeks before I'm back down there, but that's when the fun will really start.
Aha - I didn't even think about septic! That could be pricey indeed.. However if you did decide to make a small fee vacation homes on the property to rent out - even lowballing it at $500/month like I had suggested would turn you great profits - Look into AirBNB - The site that lets you rent out your home, spare room, or spare log cabin to people - Its highly successful and many people are always looking for deals just to get away to anywhere - many would love to get away from - just - LIFE. And the landscape alone would be your only needed selling point!
Can't wait to see what you do with the land :)