Update: We've closed on our Offsite Townhouse - Regal Palms

[JCinWonderland]

Congratulations!

[tomandrobin]

Originally Posted by MinnieMomofOne

We closed yesterday & the place is all ours now. I'm doing the dance of joy & looking forward to our first trip in our new place.

Again.....Congrats!!!!

[Brian5581]

Originally Posted by MinnieMomofOne

04 March 2020: Update

Thanks to everyone who is following along with this journey! We closed yesterday & the place is all ours now. I'm doing the dance of joy & looking forward to our first trip in our new place.

I plan to keep updating this thread as we update/upgrade the place. While plans have changed somewhat over the past few weeks so that we now plan to use it as a vacation home only for the new several months, renting it is still an option. If/when we make that decision. I'll also do some updates on that process works from a new owner perspective.

Cheers everyone!

Congratulations again!

[SnowWhite4]

Just finished reading the whole thread. This is really chocked full of info, thanks so much for sharing! Congratulations and best wishes!

[MinnieMomofOne]

Hey everybody - I'm checking in with an update. In our new covid world, we have re-evaluated and decided not to try to rent our new place, at least for the rest of 2020.

Instead, we (finally) were able to work with the tenants in our Arkansas rental. After giving them several months of notice, we got the house back ~10 days ago. We decided to list that one as a cosmetic fixer upper & market it as a great deal. Here's the listing for the house in Arkansas. We had 2 offers in the first 24 hours. We wound up going under contract on Sunday. Fingers crossed it closes as scheduled on June 19.

Selling the Arkansas rental house frees up the monthly budget so we can cover the Florida place without renting it. Plus, if all goes well & we close as planned at the agreed sales price, it gives us additional funds to actually update the townhouse the way we want, rather than slapping some paint on it & calling it good for renters.

Craig and Samantha plan to head to Orlando the last week of June to work on the Florida place, pending the closing on the Arkansas house. Samantha is super excited. She would happily ditch Oklahoma for Florida right now.

I understand that. I would too, if not for the whole "JOB" thing.

So, it feels good to start planning for our life in Florida. It may be another 15 years before we move there full time. That's okay. I'm a planner & having our retirement home already is great. Plus, given that I've moved like a dozen times for my career, it feels awesome to have a stable home that won't change, even if we move again for work. Actually, that's highly likely as I anticipate at least two more relocations before I retire.

After checking with an attorney, we could claim Florida residency as soon as this year. I'm holding off on making that call until I talk to our financial advisor and tax lady to make sure it makes sense now rather than later.

The current pandemic makes clear why so many people advised us to go ahead with this if we could afford it without rental income. We rolled the dice a bit on that part, but I think it is going to work out just fine.

And of course, now I'm thinking about how this whole experience might make another book. Maybe.......what do you think? "Buying Disney" anyone???

[bubster]

Originally Posted by MinnieMomofOne

The current pandemic makes clear why so many people advised us to go ahead with this if we could afford it without rental income. We rolled the dice a bit on that part, but I think it is going to work out just fine.

And of course, now I'm thinking about how this whole experience might make another book. Maybe.......what do you think? "Buying Disney" anyone???

That’s a great idea, I would read that book.

Congrats on the quick sale and thanks for the update!

[ermindy1133]

Originally Posted by MinnieMomofOne

Hey everybody - I'm checking in with an update. In our new covid world, we have re-evaluated and decided not to try to rent our new place, at least for the rest of 2020.

Instead, we (finally) were able to work with the tenants in our Arkansas rental. After giving them several months of notice, we got the house back ~10 days ago. We decided to list that one as a cosmetic fixer upper & market it as a great deal. Here's the listing for the house in Arkansas. We had 2 offers in the first 24 hours. We wound up going under contract on Sunday. Fingers crossed it closes as scheduled on June 19.

Selling the Arkansas rental house frees up the monthly budget so we can cover the Florida place without renting it. Plus, if all goes well & we close as planned at the agreed sales price, it gives us additional funds to actually update the townhouse the way we want, rather than slapping some paint on it & calling it good for renters.

Craig and Samantha plan to head to Orlando the last week of June to work on the Florida place, pending the closing on the Arkansas house. Samantha is super excited. She would happily ditch Oklahoma for Florida right now.

I understand that. I would too, if not for the whole "JOB" thing.

So, it feels good to start planning for our life in Florida. It may be another 15 years before we move there full time. That's okay. I'm a planner & having our retirement home already is great. Plus, given that I've moved like a dozen times for my career, it feels awesome to have a stable home that won't change, even if we move again for work. Actually, that's highly likely as I anticipate at least two more relocations before I retire.

After checking with an attorney, we could claim Florida residency as soon as this year. I'm holding off on making that call until I talk to our financial advisor and tax lady to make sure it makes sense now rather than later.

The current pandemic makes clear why so many people advised us to go ahead with this if we could afford it without rental income. We rolled the dice a bit on that part, but I think it is going to work out just fine.

And of course, now I'm thinking about how this whole experience might make another book. Maybe.......what do you think? "Buying Disney" anyone???

Springdale/Rogers is a rapidly growing area! You should be able to close on the rental property quickly and painlessly. Enjoy your new home away from home in Florida!

[Brian5581]

Glad to hear of the continued progress, Amy!

[MinnieMomofOne]

Thanks!

Brian, I remember you were considering a place in FL as well for the future. Next time our trips overlap, let me know if you’d like a tour.

[Brian5581]

Originally Posted by MinnieMomofOne

Thanks!

Brian, I remember you were considering a place in FL as well for the future. Next time our trips overlap, let me know if you’d like a tour.

Absolutely will do! Thanks very much.