The new year has begun and we are hitting the ground running. We’ve made some huge progress towards our cruising goals in only a few days and the realization has finally sunk in. Things just got serious, folks. All of a sudden Dan and I have become somewhat overwhelmed by the amount of work that must be done in a relatively short time.
Let’s back up a bit. A few weeks ago, we were working on our financial plans trying to figure out what exactly still needed to be done before we could attain our preferred amount of savings (i.e. $10,000 kitty; $3,000 per house rental reserves; and $40-50,000 in total boat purchase/refit allowance.) Our goal was to purchase at least 1 more rental house so our total could be 5 houses producing around $1,500 a month in total profit. To do that, we would either need to buy a 5th house out of our current boat savings (boo!) or sell our owner occupied house for enough to pay for 2 house down payments (yay!)
We decided to talk to the realtor who sold our last house as well as showing our house to a coworker of Dan’s who said she might be interested. The realtor quoted us a very healthy number that would far outweigh the cost of purchasing 2 additional houses, but it turns out that listing it wasn’t even necessary. Dan’s coworker loved our house so much that she made an offer one day after seeing it and our tentative scheduled closing date is February 3rd! Talk about a quick sale from thinking about selling to sold in a week! The only downside is now we have to get another house purchased ASAP or we might be out on the street in a month. Packing and house shopping is on the menu for sure!
In addition to working out our housing issues we also decided now would be a good time to start actively searching for our boat. We want to have plenty of time to find the best boat for us for the right price. I’ll go into more detail on that search in another post coming soon, but the important thing is there has been a major shift in mindset occurring in our plans. We are no longer looking at boats as prototypes or theoretical options, now every boat we look at has the potential to be the one. Serious scrutiny of each boat and the options available takes a lot of time and effort to get right, but it’s crucial that we make good choices in the beginning to allow ourselves to stay on track for cruising this year.
That’s right, I said it: WE’RE CRUISING THIS YEAR! Happy 2014!