We're moving! I don't even know what else to say...
Now for the specifics. Last Monday, our latest section 8 applicant finally got approved. Just when we had given up hope of ever getting someone with a section 8 voucher even close to our asking rent, we got one. And while they still missed the mark by $300... (hey... the first potential tenant from a few months ago was off by about $900) something told us that this was it. For one, we got a good vibe about the tenant. Two, the $1525 per month we'll get won't cover the mortgage, but it will cover the place we'll be renting for ourselves in Chesapeake (which we found, agreed on, and signed off on in record time). Three, it's no guarantee, but a rent increase via section 8 seems likely after the first year of occupancy. And so now we're packing. The moving truck comes in 4 days. We will turn over the keys to our primary residence in 7 days. And this, my friend, will be one crazy week.
And while we don't know exactly what the next step will be, the good news is that this puts us in a pretty decent position in a few respects. For one, I'm up for tenure and promotion this year at The University. Having our house rented and not having to worry about a quick sale in this awful market will give us a nice amount of mobility in 2011 in the event that the university administration loses their collective minds and decides to shaft me in any respect whatsoever. Secondly, it officially makes us the owners of a 3rd rental property. Granted, when we first started the rental thing, I was always hopeful that we would've had rental property 3 ages ago... and whenever it did come, I would not have guessed that it would be in Virginia (the 1st two are in SC). But life has a funny way of turning your grand scheme of a plan on its head and spinning it in a totally different direction. So here we are. I suppose we're exactly where we're supposed to be. And without a clue as to where we'll be next. But enjoying the moment, and doing our best to hang on. Not to mention pack up... and get out.
Buckle up, kids. We're going for a spin.
We'll see you in Chesapeake.
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