Kid in a candy store kind of excited.

Discussion in 'Lounge' started by Rachgier, Mar 27, 2015.

  1. Rachgier

    Rachgier Administrator Staff Member

    I suppose I can let the cat out of the bag now that we got the official word.

    We received word earlier this month that we were approved for a $90k FHA first time home buyers loan so we started looking for property outside of NY. My buddy John lives out in CO and he hooked me up with his realtor and I told them I was looking for something with 5+br, 2+ba, and a little bit of land to go with it.

    Sounds like a REALLY tall order for only $90k right?

    We found a property that was a little out of our price range but had been sitting on the market for almost 5 months and the seller had been knocking the price down by $10k every month in an effort to sell it. The realtor said he would check on the property and we got the official word today that the seller was willing to enter negotiations with us and our lender was willing to up our loan a bit if necessary, so we authorized our agent to put $1,000 down as "earnest money" to show we were serious.

    Right now we are in negotiations to purchase a 5br 3ba ranch style stucco house with a 3br 2ba guest house, 2 single-car detached garages, 4-car detached garage, 3-car detached carport, 2-car detached carport, 3x 15'x20' stucco storage buildings, 60'x40' barn and horse stables, and 6 other unclassified outbuildings all sitting on 40 acres with the ability to subdivide the land in since it was originally purchased as a 30 acre parcel and a separate 10 acre parcel.

    Obviously I'll have to make a trip out there to inspect the property before we sign anything, and my buddy John is willing to help me make any repairs needed before I bring the family out. If all goes well, by June I should be out in CO with the first truck and trailer load of gear to start getting the property prepped for the big move so I can get the rest of the family settled in by August 1st.
  2. planosteve

    planosteve Lifetime Supporter

    Let me be the first to say congrats and I hope it works out for you.

  3. Bull

    Bull Just a Man Supporting Member

    Dangit brother! That's good to hear you make it official!
  4. SWAGA

    SWAGA No longer broke... Lifetime Supporter

    Is that the one with the bed 'n breakfast or is this something else?
  5. Rachgier

    Rachgier Administrator Staff Member

    The bed and breakfast hotel property was 27 acres and an old golf course. 90% of the property was otero county but the house itself was in the city limits and they have a pit bull ban so that was an instant nogo.
  6. undeRGRound

    undeRGRound ROLL wif Da MOLE! Supporting Member

    If they only knew what they were missing... ;)
  7. Think1st

    Think1st Supporting Member

    Wow. That is the only word that describes that place. I hope that you like it when you see it and that the deal works out for you. If you can effect your escape from New York, it will be one of the best things that you can do for yourself and your family.

    May good fortune shine upon you and your family as this process moves along.
  8. Rachgier

    Rachgier Administrator Staff Member

    This is the aerial view of the structures on the property.

    EDIT: We're still trying to figure out what is what with the smaller structures.

    Attached Files:

  9. Think1st

    Think1st Supporting Member

    The long, white, vertically-oriented structure on the left looks like a vehicle shed of some sort. There are a lot of trucks to the left and a small line parked at the bottom, so they probably did maintenance in there. In the top right, that looks almost like a round horse arena in the middle of a corral. The smaller structures in the top center look like a combination of equipment sheds and possibly a barn.

    Man, that looks like a fun place!
  10. tallbump

    tallbump Supporting Member

    That awesome, congrats Rach. Hope this works out for you guys
  11. Django

    Django Member

  12. Rachgier

    Rachgier Administrator Staff Member

    Well what we were figuring, and using some of the pictures from the listing;

    1. The long white structure on the left is the 3-4 vehicle detached carport.
    2. Top right is the barn.
    3. Horizontal silverish building with the corral type object is the stables and the vertical structure is a tackroom/storage building.
    4. The two "L" positioned structures are storage buildings.
    5. Top center is obviously the guest house and the small beigish structure next to it is the other single-car detached garage.
    6. Green building to the left of that is the 2-car detached carport.

    Now for the 3 structures between the house and the road. The one picture I have of the grey building, listed as a one car garage, on the left shows a single roll up door almost as wide as the building. The building is at least 25ft wide so I THINK it's actually a 2 car detached garage. The white building in the middle is 40ft wide and will probably be the 3 or 4-car garage. The beige structure is around 23ft wide and could be anything.

    I know it's pointless to guess but DAMN is it

    EDIT: And we have no friggin' clue what the green structure is top far right. I was guessing feed storage or something. Obviously the previous owner fenced off a pasture on that corner of the property.
  13. SWAGA

    SWAGA No longer broke... Lifetime Supporter

    I see ......I see.....I see a gun range in your future


    I'm calling dibs as your first guest......after everything is fixed up of course ;)
  14. talon

    talon the banned wagon

    Sounds like one hell of a good deal! Congrats!
  15. lklawson

    lklawson Staff Member

    That's fantastic!

    The Great New York Exodus continues (and it's their own blink'n fault).

    How are you guys set up for jobs in CO?

    Peace favor your sword,
  16. panoz77

    panoz77 Member

    That seems like a ton of property and house/structures for 100K. Good luck, hopefully the house is in decent shape.
  17. Rachgier

    Rachgier Administrator Staff Member

    She's got several companies in Pueblo interested in hiring her on as management. Basically we're waiting to see how the deal goes, and where we ultimately land before deciding if she'll shoot for the Pueblo or the Rocky Ford/La Junta area.
  18. Rachgier

    Rachgier Administrator Staff Member

    That's our fear as well. Seeing as it was sold twice on FHA loans, using the older and more strict rules, we're fairly confident in the house being sound. Everything on the property was built in 1981 or later. As long as the main house is good I can take down any of the unsafe structures on the property myself and salvage the materials for future projects.

    We have a few other properties we're looking at as well if this one doesn't work out. One of them is a 7br 4ba on 3 acres of land with a 2br 1ba guest house.
  19. That is a lot of land for that price. honestly if the house is livable it sounds great.

    maybe that's jut the inflated cost of east coast living talking to me though. I imagine land is cheaper out west. where there are less trees and resources to be used on the lot.

    Hopefully CO manages to remove the mag cap ban from there asses.
  20. Rachgier

    Rachgier Administrator Staff Member

    That's the best part. The ban only extends to new purchases within their borders. The law says I can bring them with me when I move in to the state as long as they were legally purchased prior to moving there. Maybe I can convince Bull and the mole to sell a brotha some mags on his way across the country. lol