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Old 08-11-2008, 09:24 AM
 
Location: Mountains of middle TN
5,245 posts, read 16,429,742 times
Reputation: 6131

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Is it possible to buy a home in Eastport and rent it out for a while?


***rant begins here***

I'm so sick of the rat race. We were supposed to go look at 200+ acres in NE KY yesterday. We've been wanting to build our dream home on a big piece of land and have a working farm with livestock and a massive garden so we can almost 'live off the land'. Solar panels, well, the whole nine yards. But of course a deer got in the garden and ate the tops off my cucumber patch so I spent most of the day out there pulling the dumb things out of the ground and trying to save as many of the cucumbers as I could.

It's hot, it's humid, there are bugs galore feasting on my arms and legs. I'm just done. All I could think was, this is a little 1 acre garden. I can't tolerate this, how will I stand a 5 acre garden and caring for another 150+ acres of livestock. No way!

And then there's work. I love my job and the people here, but I'm so tired of 4 hours a day behind the wheel to commute. I'm sick of the traffic. I'm tired of feeling like I'm spinning my wheels. My boss hired me to take his place when he leaves which would be an incredible raise, but he doesn't plan on leaving forever. I keep getting more and more responsibility piled on me with no added money to match it. The stress level is rising by the minute.

Were it not for the fact that our two daughters are still in high school I'd sell the house and leave today. I'm just done!!

***rant over - back to topic***

So, I went to realtor dot com and was looking at cheap houses there in Eastport. I know right now we can swing a second mortgage payment - especially a little one for a small house like I was looking at. But it also means we'd have to be careful and cut back some in our lifestyle. Now, I don't mind cutting back on how often we eat out or the extra driving we do and all. But if something were to happen - some kind of emergency - that's what scares me about another mortgage payment, even a little one. So, I was thinking if we bought a little house like that could we rent it? Is there a market there? Even just seasonally maybe? Or as a weekly thing? If that is possible, I just might seriously look into it. I know I can't move now, but if we rent it seasonally or something we could at least visit / vacation there to relax a little. And then as soon as the youngest graduates high school - May of 2012, it's marked on the calendar - I can put the house on the market and get out of here!
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Old 08-11-2008, 09:49 AM
 
Location: Mountains of middle TN
5,245 posts, read 16,429,742 times
Reputation: 6131
Or how about in Perry, ME?? I just found one that hubby and I really like! Might even be tempted to have a friend go look at it for me....
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Old 08-11-2008, 09:59 AM
 
Location: Maine
7,727 posts, read 12,383,339 times
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If you do buy a house now, and decide to rent it, have your realtor handle it. If your realtor doesn't handle rentals, they will know who does. Best of luck.
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Old 08-11-2008, 10:13 AM
 
Location: Mountains of middle TN
5,245 posts, read 16,429,742 times
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Quote:
Originally Posted by msina View Post
If you do buy a house now, and decide to rent it, have your realtor handle it. If your realtor doesn't handle rentals, they will know who does. Best of luck.
That's a really good idea. Do they have property management companies up there? I thought that was a Florida thing. But it's definitely the way to go if we move forward.

So, do you know anything about Perry? The house I found there is exactly what we've been looking for.
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Old 08-11-2008, 10:44 AM
 
Location: Mountains of middle TN
5,245 posts, read 16,429,742 times
Reputation: 6131
I think I might in a couple weeks. I think right now I'm overly stressed with work and a bit on the hormonal side. I'll give it a couple weeks for things to calm down and to get the hormones back in line. If I'm still feeling this way then, I'll start checking things out. I just feel like I'm wasting time that I should be with my family. I mean, it's not like anyone's ever died thinking 'gee, I wish I'd spent less time with my spouse and kids and more time climbing the corporate ladder', right? And with John's health, I always wonder how much more time I have left.

Last edited by 7th generation; 08-11-2008 at 04:46 PM.. Reason: Sorry, but I had to delete the realtor name as this is not fair to the realtors that are members of this forum. Please use DM
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Old 08-11-2008, 01:58 PM
 
Location: Spring Hope, NC
1,555 posts, read 2,520,476 times
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Those cheap houses that are listed on the net may need major renovation in order to attract desirable tenants.
Be sure to do your homework. All the best to you.
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Old 08-11-2008, 03:15 PM
 
Location: Mountains of middle TN
5,245 posts, read 16,429,742 times
Reputation: 6131
Quote:
Originally Posted by bgrasser View Post
Those cheap houses that are listed on the net may need major renovation in order to attract desirable tenants.
Be sure to do your homework. All the best to you.

Yep. I've got a friend in NH. I'm thinking of offering her a weekend vacation in ME if she'll go check it out for me!!
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Old 08-11-2008, 04:13 PM
 
Location: Teton Valley Idaho
7,395 posts, read 13,101,169 times
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We've thought about doing the same with our house in Eastport mrs....right now we're doing some work to it, and there's no big push to get it done, so it's out for this year. But, the thought was to rent it through Oct-May monthly, and then weekly through the summer, blocking out the time that we would be using it. I think it's a very workable solution! It's also fun just looking at the houses for sale, and I kept an eye on things for a long while before we did. It's interesting seeing how long some are on the market, knowing that they're just a diamond in the rough and hoping someone will come in and bring back their charm!
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Old 08-11-2008, 05:09 PM
 
Location: Mountains of middle TN
5,245 posts, read 16,429,742 times
Reputation: 6131
Quote:
Originally Posted by mollysmiles View Post
We've thought about doing the same with our house in Eastport mrs....right now we're doing some work to it, and there's no big push to get it done, so it's out for this year. But, the thought was to rent it through Oct-May monthly, and then weekly through the summer, blocking out the time that we would be using it. I think it's a very workable solution! It's also fun just looking at the houses for sale, and I kept an eye on things for a long while before we did. It's interesting seeing how long some are on the market, knowing that they're just a diamond in the rough and hoping someone will come in and bring back their charm!
I think you might me my long lost twin!! LOL!! We've been looking for nearly a year now. I found the info on this house today and sent it to hubby. We've been e-mailing back and forth all day. If it weren't for the girls being in school I think today we'd have put the house on the market. At one point we were talking about just coming up for 5 or 6 months of the year and spending the rest of our time in north TN or south KY. We're looking at a place in NE KY, but thinking that we actually might like to try living full time in Maine.

Hubby just sent me an e-mail and said he's ready to go. His gypsy fires are burning. I'm sending my friend and e-mail and calling the realtor tomorrow. Hmmmm..... Maybe......
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Old 08-11-2008, 08:08 PM
 
Location: Florida&Eastport
612 posts, read 1,216,333 times
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Have you considered renting a house in Eastport to make sure the town is a good fit for you and your family before you buy? There are lots of variables to take into consideration before making a drastic step of relocating.

I spent the summer in Eastport and I love it and my home. Our home has an unvented propane log heater and baseboard heat in the two bedrooms both which require electricity to function. The power was off several times during this summer, one time as much as 3 or more hours. In the winter, I would be terribly cold unless I had some form of backup heat, not to mention the pipes could freeze, etc.

Just a tip about backup heat source and not meant to discourage your move to Eastport.

Last edited by 7th generation; 08-12-2008 at 03:41 PM.. Reason: Sorry, but realty recommendations should be noted in a DM.
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