My advantage

I own three properties. Two of the properties are downtown with one in Stittsville. I think that I want to reconstruct the downtown property in 5 years. I want to do a major overhaul. The biggest issue is that I currently live downtown and have no intentions to ever move into the Stittsville property.

Admittedly, I am pretty much stretched in terms of my borrowing for the next little while. There will be just too much risk to bear any more debt. That being said, I will need to work out something so that I will be able to live in a place that I can call home in the next couple of years. The re-construction of the downtown property will eat into a lot of resources as well. The key, therefore, is the Stittsville property. I will have to dispose of that property when I decide that I want to move out on my own. At the moment, I plan to continue to live with roommates for the next couple of years, at least.

The complicating factor is the fact that if I happen to meet a special someone and we need a place for ourselves. I have a couple of years I figure before I have to worry about that too much. It's basically a moot point, but I thought I would throw it in as an option just in case.

So that leaves me with my plan in the next couple of years for the downtown property. I would like to build a nice little deck in the backyard. It should be relatively cheap to build, but it will add to the enjoyment of the property. In addition, I know that the roof needs some repairs, so that will be another point of improvement. I think those are starting points. If cash flow is good, I will want to try to upgrade the kitchens in both halves of the building. The bathroom on the main floor of 73 Arlington needs to be upgraded as well.

I have some more news tomorrow, so stayed tuned.