Our Life Before FIRE,  Our Story

My Original Financial Mistake

But a good one, because I learned SO MUCH.

This was the first house I bought in 2006 after Hurricane Katrina at the ripe age of 22. And let me tell you, mistakes were made, but many positives came from this home.

Sitting at 1800 square feet it was but a HOUSE, after Meredith moved in awhile later it became a HOME. We made plenty of memories in this home. Those were the GOOD years.

From 2006-2009, I struggled…

I bought at the worst time. I bought using a FHA loan. I had ZERO money for a down payment. I had ZERO money for repairs. I bought right after a major hurricane decimated the area creating a low supply/high demand issue. I bought in a storm stricken area & my homeowners insurance added $300 extra a month to my already high mortgage payment.

Simply put, I couldn’t afford this house…then the 2008 financial crisis hit.

But I held on and made my payments, majority of the time on the 15th & never on the 1st. By this time my homeowners insurance was pushing $5000 annually, & there was nothing better or cheaper just 2 years after a Category 4 hurricane hit. I worked my butt off & was hardly EVER there, only to sleep mostly.

After 10 years of ownership, 6 years as a primary residence, 4 as a landlord managing it as a rental…

We sold it.

When you buy a home, it’s intended to be a blessing. It’s intended to grow in value over time. It’s intended to be an asset.

The only thing that grew from this home was knowledge & experience to not repeat the same mistakes with real estate again. After 10 years of payments, I sold the home for LESS than what I PAID. Yep. LESS. It was a gut punch. Fortunately, I broke even and walked away with a settled loan.

I share our experiences to prevent others from making similar mistakes as we did. I’m a huge proponent of real estate and it all started with this home

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