We Got the Fourplex!

Remember the fourplex that I wrote about earlier this month? Well, got some good news, we already closed on the transaction before Thanksgiving day. We’re now proud owners of a fourplex unit here in Las Vegas (ooppps, we have a 30 year mortgage on it so don’t think we’re rich)!

Anyway, there were already four tenants in the property when we bought it. One of the tenants is moving out in a week – which is just alright because the term of our loan requires that we need to live in the property for at least a year.

We went there to do some inspection the other day. One of the tenants has a daughter who’s into cheerleading and I was surprised to see a cheerleading mat at their unit. Rachel, our tenant, mentioned that its the kind of mat that’s for home use and she got those cheerleading mats cheap. She also mentioned about buying cheerleading shoes cheap and although I’m not really interested in cheap cheerleading shoes, I just indulge in her stories while hubby does most of the checking. As a mom, I now understand how parents can be so proud of their children’s accomplishments at times.

Anyway, there are some minor repairs that hubby must attend to (like leaking faucets) and we’re also shopping for a coin operated washer and dryer for the property but so far, so good. I drafted new lease agreements for the renters to sign and I feel like a professional again while doing that (LOL).

We’re not sure yet when we’re transferring there but our loan agreement gives us 60 days to move in. It depends on when the other tenant vacates the place, I guess.