The back .40 !

[Jude Ephesus]

So, we tried and tried, but the past 2 years proved to be too tough of a housing market for us.

We gave up our house hunt a few months back. 2021 saw us lose 6 bids on 6 different properties.

most of the bids we put in we had an idea would not win, but we just refused to bid more on a property than what we thought it was worth!!! (Even on the high side!)

we had sold our rental property during Covid and were able to make a little $$ and recoup some equity.

unfortunately, we didn’t make enough $$$$ to compete in this crazy real estate market!!!! Ha-Ha!

we decided to invest our money for a few years and see if anything shakes out in 2024.

in the meantime, until I get a back 40 like @OddJob , (or a beautiful barn like @GeePig ) I’ll have to settle for the back “point forty” !!!

I scored a cheap craftsman workbench off Craigslist to help organize my overpacked, disaster area shed. I also moved and hacked some bushes and threw down some mulch.

so, for now, my 3-season outdoor shop is starting to take shape. I’m going to continue to work on this through the fall….

 

[Captain Awesome]

So, we tried and tried, but the past 2 years proved to be too tough of a housing market for us.

We gave up our house hunt a few months back. 2021 saw us lose 6 bids on 6 different properties.

most of the bids we put in we had an idea would not win, but we just refused to bid more on a property than what we thought it was worth!!! (Even on the high side!)

we had sold our rental property during Covid and were able to make a little $$ and recoup some equity.

unfortunately, we didn’t make enough $$$$ to compete in this crazy real estate market!!!! Ha-Ha!

we decided to invest our money for a few years and see if anything shakes out in 2024.

in the meantime, until I get a back 40 like @OddJob , (or a beautiful barn like @GeePig ) I’ll have to settle for the back “point forty” !!!

I scored a cheap craftsman workbench off Craigslist to help organize my overpacked, disaster area shed. I also moved and hacked some bushes and threw down some mulch.

so, for now, my 3-season outdoor shop is starting to take shape. I’m going to continue to work on this through the fall….
View attachment 199842

https://www.harborfreight.com/10-ft-x-10-ft-portable-shed-63297.html


Just saying.........

 

[OddJob]

https://www.harborfreight.com/10-ft-x-10-ft-portable-shed-63297.html


Just saying.........

My neighbor repairs and refurbishes vintage furniture out of a 10 x 20' version of that tent; year round in Minnesnowta!

 

[Jude Ephesus]

My neighbor repairs and refurbishes vintage furniture out of a 10 x 20' version of that tent; year round in Minnesnowta!

That is impressive! you guys got the cold…. We might get a tad more snow…. Our average snowfall is ~120”-130” a year.

i do have a nice area set up in my basement for winter projects, but I’m super limited on painting once the snow flies.

 

[horsefarmer]

I've been a "shade tree" mechanic my whole life. Sometimes working outdoors can be very therapeutic.
That said, I would not want my tools out in the weather. @Captain Awesome 's suggestion of a portable shelter might work out for you till the snow flies.
I had one of those pop up greenhouses and I got 2 years out of it (took plastic down in winter). Finally it fell apart in a storm.
It was free standing and took a beating from wind, I like that your work area is sheltered on 3 sides for protection from wind.
Looks sunny (South facing?) for "lighting" and solar heat on cooler days.
If you keep things as is it's a nice work area but I would not keep any tools out in the weather.
And if you took the fabric down in winter it will probably last you a few years...

 

[MattiThundrrr]

I couldn't leave tools or bikes unlocked in the yard. There is group targeting my neighborhood, anything not tied down gets liberated. Lately, though, they have been focusing their attention on RVs. Apparently there's about $200 in a tankful on those beasties.

 

[Karate Chicken Industries]

 

[kingfish254]

So, we tried and tried, but the past 2 years proved to be too tough of a housing market for us.

We gave up our house hunt a few months back. 2021 saw us lose 6 bids on 6 different properties.

most of the bids we put in we had an idea would not win, but we just refused to bid more on a property than what we thought it was worth!!! (Even on the high side!)

we had sold our rental property during Covid and were able to make a little $$ and recoup some equity.

unfortunately, we didn’t make enough $$$$ to compete in this crazy real estate market!!!! Ha-Ha!

we decided to invest our money for a few years and see if anything shakes out in 2024.

You are smart to wait a year or two before buying if you can. Now is not the time to get any kind of deal as a buyer. Around here, houses are going under contract within 1 week and they end up selling for 5 to10 percent above asking price. I bet you did well on your rental sale though. We are keeping our rentals because a good part of my retirement plan is to have the passive income profit from them (plus having someone else pay for the property). Being outbid on a property sucks. Three to four years ago (before the boom), we were losing multi-family bids even though we offered the most. Our problem was losing out to groups of investors that made full cash offers. But those lost opportunities were still lessons to us each time. You gain more experience with the process, make better educated decisions, and are prepared to act quickly when the timing is right for you. It will pay off for you in the long run. Just keep monitoring the market in the neighborhoods you are interested in.

Good luck with your outdoor BACK0.40 in the meantime!

 

[Jude Ephesus]

I couldn't leave tools or bikes unlocked in the yard. There is group targeting my neighborhood, anything not tied down gets liberated. Lately, though, they have been focusing their attention on RVs. Apparently there's about $200 in a tankful on those beasties.

It was like that when we lived in Florida. We have some trouble makers here in CNY from time to time, but overall, pretty safe.

wouldn’t put gold bars out there, but some rusty bikes and tool or two….. maybe. I do lock my shed if I know I‘m not going to be in it for a while.

 

[Jude Ephesus]

I've been a "shade tree" mechanic my whole life. Sometimes working outdoors can be very therapeutic.
That said, I would not want my tools out in the weather. @Captain Awesome 's suggestion of a portable shelter might work out for you till the snow flies.
I had one of those pop up greenhouses and I got 2 years out of it (took plastic down in winter). Finally it fell apart in a storm.
It was free standing and took a beating from wind, I like that your work area is sheltered on 3 sides for protection from wind.
Looks sunny (South facing?) for "lighting" and solar heat on cooler days.
If you keep things as is it's a nice work area but I would not keep any tools out in the weather.
And if you took the fabric down in winter it will probably last you a few years...

Great input…. I am running out of space. The picture was actually taken from my property line.

I am on the hunt for a cover. I plan on using the drawers but aim to protect the tools in the drawer.

 

[Jude Ephesus]

You are smart to wait a year or two before buying if you can. Now is not the time to get any kind of deal as a buyer. Around here, houses are going under contract within 1 week and they end up selling for 5 to10 percent above asking price. I bet you did well on your rental sale though. We are keeping our rentals because a good part of my retirement plan is to have the passive income profit from them (plus having someone else pay for the property). Being outbid on a property sucks. Three to four years ago (before the boom), we were losing multi-family bids even though we offered the most. Our problem was losing out to groups of investors that made full cash offers. But those lost opportunities were still lessons to us each time. You gain more experience with the process, make better educated decisions, and are prepared to act quickly when the timing is right for you. It will pay off for you in the long run. Just keep monitoring the market in the neighborhoods you are interested in.

Good luck with your outdoor BACK0.40 in the meantime!

Thanks @kingfish254 !

so, yup, we did good on our rental in the Tampa ‘burbs. It was our home for 13 years. When we move to upstate NY, the Florida housing market was awful. We thought the market would return “one day” and kept it as a rental and it helped us pay a lot of bills over the next 10 years.

we did get our CLOCK CLEANED on capital gains taxes by the IRS and the state of New York. But all things considered, an amazing investment for our family. Like you, we plan on some sort of investment property for added income in our retirement.

As everyone is saying there’s no housing bubble right now, it sure looks like one to us. I’m thinking at least a 10-20% correction In the coming year or so. We are taking a risk (vs. Real Estate) and will be putting our equity very conservatively into the stock market and dollar cost averaging over the next 40 weeks.

if we stumble across the deal of the century on a property we can pull the $ out or get a margin loan against the portfolio value.

a little complex, but our CFP has been great and with their team and wifey, we came up with a solid plan until 2024, which is when our youngest graduates high school and we can look for a place for the next chapter in life.