5.28.2005

I may have come up with a financial solution

Someone on my street is renting their apartment out for $3,500 dollars a month. I live in Brooklyn, in the non - gentrified part. While an apartment in Manhattan will defenitely go for this much and even more, it takes a pretty special place in Brooklyn to get that type of rent. Now that housing is going up all over the city, people are moving to different sections that were not quite seen as the "it" places to be not to long ago. This raising of property value all over has a double affect. It's good for property owners because they can get a really good price for their homes, but it isn't good or the renters because rent prices are going up and up. Its nearly impossible to get a decent apartment in a decent neighborhood for less than $1,500 a month and it is next to impossible to buy the crummiest of the crummy houses for less than $300,000. Long story short, living in NYC is expensive as all hell. If one is not lucky enough to get a rent stablized apartment or already have owned something, you basically are ass out. People here have 5 and 6 roomates, continue to live with their parents, or have teeny, tiny, unbelievably small studios. (think less than 500 square feet going for 1,500 a month). Anyway, I have the good fortune of having had a dad who was a real estate wiz and though we were never rich, we are quite comfortable. My mom lives up the block from me in the house I was raised in. I live in a house my dad left me and I don't have to pay rent, great. My house is a four story two family house and the top floor is being occupied by a couple in their fifties whose rent keeps my taxes and bills paid for the time being, since I am unemployed. My part of the house is three floors and since I am only one person, I occupy a very small amount of room. Downstairs, I have a kitchen, dining room (which I NEVER use), a formal living room (again which I never use) a guest room (which no one ever uses) a bathroom and a laundry room. I also have another floor, like a basement which I am too afraid to go into and I pay a guy up the street to check my boiler and water heater once a week to make sure everything is going well. I also store all of my work out equipment, ny bike and my old skis and all of my teaching supplies down there. My kitchen leads off into a backyard, which I love, I actually eat out there more than in the dining room, as it has a great dining area and garden. Upstairs (where I spend most of my time) I have three bedrooms even though I always say two (one of which is my offical meditation/yoga room, even though I sadly no longer really practice yoga or meditation), the other which I turned into a studio (which I sew and paint in) a "real" living room that I hang around in and my bedroom and bathroom. I also have this huge foyer which I swear I will pretty up one day, just not anytime soon. So now that all of the background info is out there, back to the $3,500 a month. This guy is renting out my section of the house for $3,500 a month with the garden. Now, I am poor. Everyone who knows me definitely knows two things about me right now, I am fat(ter) and, I am poor. However, if I rent out my house, I usually call it my apartment, I won't be poor. If I move in with my mom, which I am a little reluctant to do, I can make $3,500 a month. My current tenant's rent already takes care of the house plus some (I set aside the left over money every month in case something happens like last year, I had to re do the pipes that connect to the sewer, it was like $4,000). With their rent alone, I cover yearly taxes, boiler and water heater maintainence, oil, water and around the house incidentals. My mom has plenty of room. I can move into her third floor and rent out my house. I think I might do it. I could really use the money now, especially since I don't have a job. I am not sure how I would feel living with my mom, having sex over her head, having her know when I am home or having company, etc. I will seriously think about it though, this might be a great solution for my problem right now.

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