The project is an attempt to grow Michael’s retirement fund and improve our neighborhood at the same time. The purchase and improvements are all being paid for using a self-directed IRA, a novel investment strategy that is poorly understood and under-utilized by most people with investments in stocks and bonds.
The four bedroom, 2 1/2 baths house is just a few blocks from our own home. It now has a new, lifetime roof, insulated windows and front door, a 95% high-efficiency furnace, updated kitchen and baths, and a new patio off of the renovated hearth room. Not shown in the video is a finished full basement!
The purchase closed on my birthday, June 30 and the finishing touches are being completed now, so we’re two months behind our planned schedule. I won’t even talk about the budget overruns, but we expected most of those. We hope to have the house ready for market by the end of the month. The only question remaining is: rent or sell?
I’m still learning how to make decent videos, so consider this one a very rough draft. It doesn’t even have sound!