New shop at the new place...

[Kelly Hanna]

Recently we were lucky to find a true bargain....2 acres in the same area we've lived in since 2005, this one about 6 miles out of Terrell in a little town called Elmo. We'd been renting here since 2012 and saving for a new place. We found an owner financed 2 acres with a 1400 sf mobile home for $45k. The home is in pretty decent shape and work continues with the hall bath and roof on the list for the owners to fix in the next year. We'll have it paid off in 5 years. So the shop is now located in a Winslow's building I bought. It's a 14x30 and will serve as the shop until the house is paid off. At that point, the idea is to build a log cabin on the back acre, sell the mobile home and the shop and build a big shop on a slab up front where the house is now. Got my work cut out for me now! Pictures of the inside once I get it a little more straightened out.

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[Rick Potter]

Wow,

Instant shop. Very nice.

I will wager that when you build the new place, you end up keeping this one too.

[Kelly Hanna]

If I hadn't already done this once before at the rental I would agree. Sold the last little shop for about 80% of what I paid [it had a lot of improvements that cost virtually nothing] and it wound up costing me about $40 a month for three years. Took the money and built a reclaimed wood shop for $1000 and bought the sawmill. This one should bring about $10k when paid off. The house will be paid off as well as the 'new' truck so that will be an easy buy. Hoping to get the new shop built for about $20k by doing almost all the work myself. It will be a metal sided pole barn on a slab [about 40x60].

[Jim Becker]

That property was a nice score for you, Kelly. I like your future plan, too.

[Bob Michaels]

Kelly, sounds like you've got your ducks in order. I like people who think ahead. Best of luck.

[Kelly Hanna]

Thanks guys,

Not sure about the ducks, there seem to be quite a few loose in the yard, but at least some of them are lined up!