Car of the day…
Ahhhh that Pontiac Safari, (sorry my heart is in the 50s with cars and girls)
On my mind early today:
After
retiring from the military I tried several jobs but settled for carpentry. I
learned more and knew I could build a house by myself. I did. For practice and
experience, I built a small house. 800sqft. I stumbled thru it, and because I
did not know Air Conditioning, I wired for window units, popular at the time.
I sold the house and did well, I
averaged $10 and hour for all my labor, not bad when I had been working for $4
and hr. So we had a nest egg.
After finding a nice acre lot with a small branch Sherry and I cleared
the lot. We had a good time, she worked so hard once that she walked over and
laid down in that little branch.
We
owed 18k on our home in Charlotte and put it up for sale.
I started our new home. My ignorance
had already hurt me and I did not know it. I told Sherry we did not have the
money to complete our home, but when we ran out of money we would then go to
the bank and borrow what was needed if the Charlotte house had not sold. We
would have plenty of equity to cover what was needed by then. WRONG!
I
took our clear deed for the land to the Bank with our plans. All was going well
until he asked, “When do you plan to start?”
“Oh I have already started, it is dried in and ready for drywall.”
“WHAT?
Sir if the lot is already cleared and work started NO BANK will loan you money! We have to know you do not have material
costs that will come in, or other claims of equipment used to clear, etc! I am very sorry.”
(This one we built, Sherry helped me roof it. We did it all but this time did have central air installed by a friend)
Usually I could borrow from friends, but no one had the $40,000 I needed to complete. So I decided to sell what we had. From the outside it actually looked finished.
I was offering it at COST, $18,000,
not labor. NO buyers.
I
was telling my family at a get together our problem. MY BIL said, “Jack I have
that much in my retirement fund, you cannot lose that beautiful home.”
I used his money and in about 60 days
had it completed. By that time the house
in Charlotte sold; we repaid the loan, Dick would take NO interest.
I
thought of that as I read MA’s blog about how important family is. My Sister and BIL saved our bacon. LOL Yep it is good to have family.
Nite Shipslog
PS: Sooo, family help me get started to be rich. ;-) (NOT)
