[berettafan]

Good news is we closed about a month ago. Bad news is bank wanted cash down so we brought in a 3rd partner. Still 1/3 of the eventual profit (or equity) is better than 0/0.

Anyways I listed the house for rent on Craigslist and had my partner's brother in law paint the place. No serious responses for a couple weeks and was just about to go with the newspaper ad. Then last Sunday morning my wife picks up her phone to read a text and says 'OMG _____'s house burned down this morning!'. Three middle schoolers (my wife teaches at the school) being raised by there partially disabled grandmother and somebody left a curling iron on when they went to church.

Well guess what, we have a very grateful tenant now! I couldn't be more excited about this family moving in. From a pragmatic perspective the state is going to be paying the entire rent which, by design, covers the mortgage, interest on the 3rd pt's investment, taxes and insurance. Those checks are ALWAYS on time and ALWAYS clear. From a humanitarian perspective this is a lady who deserves the assistance she's getting as the kids she's raising are good kids in spite of all that they have gone through (not giving details but a sad story). One of the boys actually called me ON HIS OWN and thanked me for the house. I didn't know what to say other than 'don't thank me i'm just happy to have tenants'. The grandmother was near tears when i talked with her. Just an amazing situation.

Previous to this the family lived in the very worst part of town and the kids had to navigate some pretty rough areas to get to school. Now they are in a much better 'hood (not perfect mind you but MUCH better).

I've done nothing more noble than try to make a buck but in this particular case the system is working and very possibly keeping 3 kids from becoming future career state aid recipients.

It's sobering to think that it's just my dumb luck and this family's tragedy that has put this investment on the right track but i'll take luck any day.