We’re thinking about going in on a real estate venture with friends. Real estate, particularly multi family is sinking like a rock price-wise here. We’d occupy the property under a corporate charter, probably an LLP. And want to know the kicker – the monthly minimum mortgage calculated as 5 years with taxes added comes out to LESS than we’re paying right now for rent. And we would have ownership via the corporation. That’s nice because anyone dies, the corporation goes on in perpetuity. We could all be gone and the corporation will still be there.
So I went on to the RI Secretary of State’s site and plugged in the new potential address. I’d still be in the same Representative district but my Senatorial district would change to Maryellen Goodwin, and we’d be going from the 13th Ward to the 12th. Terrance Hassett is the councilman for that area.
Now this won’t stop me from trying to get a public WiFi MESH network setup in the 13th ward. There’s interest in the 15th Ward too so if I could get it to span 12, 13, 14, and 15 that’s pretty much half the city.
The zip code would change too. It would go from 02909 to 02908. Now the weird part – I grew up in the 02908 zip code area. In fact thus far in Providence I’ve lived in 02903, 02904, 02908, and 02909.
And I really want to get in the real estate game. I already ran the numbers and I figured out the group could pay the house off on 2.3 years. And then move on to buy more and more and employ the same mortgage acceleration tricks.