How It All Began

It seemed like a good idea at the time. I was sick of the winters in Montana, had some big commissions coming from my sales job, could live anywhere in the country. I decided to buy a house in Florida. What started out as a new place to live, ended up becoming an investment property. I found a four-plex in my price range and the best thing about it? The three units below would pay for my apartment.

The plan was to find roommates for my house in Montana so I could have someone caring for the place while I was away. My household became me as the house mom in my late 40s with two young early 20s tenants. They brought two dogs to add to my two dogs. It was really a mad house. After years of living on my own, I was suddenly in an active and rowdy house.

The only problem was that I couldn't close on the four-plex. This was winter 2012 and banks were downright crazy. My credit was great. I had plenty of income and a substantial down payment. The first bank had turned me down because I had refinanced my house in Montana. Since that was my primary residence, how could I say Florida was going to be my primary home?

I found a second lender and began again. I worked out an agreement with the property owner to rent the house for a couple of months while we sorted out the financing.  I headed to Florida in my Subaru Crosstrek with my two dogs, my bicycle atop my roof and a couple of suitcases.

The second lender turned me down because there were no comps in my area. Frustrated, I applied to a third lender and finally was able to get the loan approved. I had the four-plex! But in the meantime, my plans had changed.

Before I left for Florida, I met my boyfriend. I had been certain there were no suitable men for me in Montana after more than a decade of dating. And wouldn't you know it? I met Mike. So I finally closed on the Florida property in April and by May, I was driving 2500 miles back to Montana.

This was the first of seven houses I would purchase (the rest with my boyfriend) over the next 12 months. I have suffered through termites, roaches, rats, bedbugs, plumbing problems, renovations, liens, evictions and many other intriguing experiences. I have also felt the pride of clearing up a title, getting a house off the demo list, seeing my property value soar and establishing bank credit.

I'm no real estate expert. But I hope this blog inspires and entertains you as I reminisce about some of my trials and triumphs as a real estate investor.