Post divorce luck and strategizing
After 14 years of marriage i finally ended my marriage last Fall. I'll spare you the ugly details but i spent a full year expecting to not only lose everything but also to be saddled with alimony payments far beyond what i could afford for 8 additional years. When the dust settled i did lose everything but avoided ongoing alimony payments.
Here is the good news.... while i was waiting for the divorce to finalize a home came up for sale through a local realty company. It was a bank foreclosure. Due to the previous owner painting everything brown inside and out no one wanted it. Every month the bank dropped the price by 10k. They started at 70k and i had my mom offer them 13k after they lowered the price to 19k. I got it for 14k. The home is large and much nicer than you might expect for the price i paid. My mom quit deeded the property to me post divorce to get owner occupied tax credit. (I still owe her 14k and 10k for a divorce loan I'm otherwise debt free)
6 months later the house was hit by a hail storm and now I have a check for 20k and they will give me 20 more if I make any of the repairs none of which are necessary.
Now I'm sitting in a position I couldn't have dreamed of being in a year ago thinking about splitting this house into a triplex and buying another triplex. Mainly I'm using this website to get ideas on how to rebuild what i lost.
I'm in Central Illinois and love learning about ways to make money. The podcasts on this website are a goldmine and give me so much to think about. Its hard to find friends that are interested in financial freedom. I'm glad to be here.
Most Popular Reply
It was not all that long ago that I went through a similar situation. There is something awesome about starting over even thought at times it feels like you took two steps back.
My best advice for a fellow divorcee is that the past is the past. It is done and gone. Don't dwell there. Take away what you learned, start with a clean slate, and jump at the opportunity to take control of your life and rise to success.
It sounds like some good fortune has fallen upon you. Go out there and make the best of it. Good luck to you in your new life.