Pondering

I sometimes wonder if investing in Alabama was worth it. But then I think if I had spent the same amount of money in the metro Phoenix area during the same time period, I would have fewer homes and they would all be worth significantly less than I paid for them. If we had even gotten that far.

Given the foreclosure rate in Arizona, I can't guarantee I wouldn't have been a casualty. Two homes I had at the time the market was hot went to foreclosure after I sold them to other buyers. If I had held on to them, I am not sure what would have happened. With that fact alone, I am definitely glad I wasn't investing in Phoenix at the time we were heavily buying homes.

But, it isn't as if I did tons of research before I landed in Birmingham. At the time, Marty Sunshine and I had been bandying about investing in other areas of the country but hadn't really done much about it. When we were presented with Birmingham it was one of those, "Here is an opportunity, what do you think?"

What I wonder is about the people. I can honestly say, good and bad, I have met some interesting folks who have made a significant impact on my life in a way that I cannot compare to my life in here in Mesa. And, I have had some lulus for tenants.  Many of them came from choices I made early on. They were my crash college courses in landlording. They taught me everything I know and then some.

However, at the time I made those choices it was with the information I had on hand. I was led to believe X about a tenant only to find out that the person recommending them (in this case, it would be my former agent, the Rajun Cajun) wasn't exactly telling the truth. So, if I had the real facts in front of me, I would like to think I would have made different decisions. And, I never would have rented to Wayward. Ever.

Also, had the Rajun Cajun told the truth, I wouldn't have ended up with two one-bathroom homes. (one bathroom homes are somewhat more common over there). Then again, I also wouldn't have had as many homes as I do. I am not sure if that is a good thing right now. But, it isn't the end of the world either. Once upon a time, we were actually profitable. I bet there are a lot of landlords who said that who don't have homes now. So, maybe we are ahead of the game.

The jury is still out on whether this adventure was worth it. Marty Sunshine says it is. Learning for the sake of knowledge is always worth it. I have certainly learned a lot I can take into the next phase of my life--whatever that happens to look like.