Points or Reference OIKOS

I have some property. A three-story brick Kansas City six-pack, built in 1911, and presently consisting of 4 single-bedroom apartments and one 2-bed/2-bath penthouse. There is a basement with storage units for each apartment and a coin-operated laundry washer and dryer. Behind the building, and the real reason I bought the place, is a late 19th century carriage barn, built for a home which no longer exists, it is now part of my property. The carriage barn is 2-story brick construction, with a steep roof that was originally slate, and which I'd like to replace with slate. It's expensive stuff, but I think it is the right material.

I moved into the apartment building as a tenant in 1995, wishing to live closer to the location where I was hoping JAVAGAIA would re-open. Well, of course the coffeehouse didn't re-open, but I found a good apartment, which led to my job at City Garden and The Bluebird Cafe. In 1996, I was endowed with the balance of the trust my grandparents, Bess and Joe, set up for my education. There was enough for a down payment on the building when my landlord decided to move with his family to Arizona in 1997. I saw it as a good investment, and I haven't paid rent since I bought the place.

I bought the property for $93,000, and I have put close to $125K into the property since I bought it. It keeps paying for itself, through rental income, and I keep moving toward my vision of a holistic preservation of affordable rental housing in urban Kansas City. I have great tenants who play along admirably. Thanks to everyone helping make this possible.

This year has been great for the carriage barn. Last summer, several codes violations inspired my bank to make funds available for much needed exterior work: the whole face of the building was re-tuckpointed, doorways and windows were reframed, the roofline was repaired, and the old slate roof was removed for repairs and given a layer of ice and rain shield, which has given me a season of protection until I can get the next phase financed. Next up: new slate roof, gutter, doors, and windows. Then interior work can begin: plumbing, electrical, insulation of exterior walls and ceiling, surfaces. Roughing in a kitchen and bath. HVAC. As soon as this work is done I can move into the carriage barn and recieve rent on the penthouse where I am presently living. If all goes as planned, I should have a new house to live in (albeit an ongoing construction project) paid for by the rental units before me.

This is sort of a boring entry, but it is a piece of the puzzle.