Just a quick update on our new construction project -Hazel.
Hazel is awaiting the permits. We have hired our "go-to" contractor, and are employing a local Construction Management company to keep things moving and to work closely with our friend -the contractor. But right now, it is just a waiting game on Hazel.
We are strongly considering the possibility of a second new build directly on the heels of the first one starting. What we are wrestling with right now is the economics of two simultaneous zero-debt builds, and the logistics of getting both finished in roughly 90 days from the moment of permit. We are also waiting to see if a rehab that we are considering actually materializes. That will determine, in part, the next steps.
Our goal for this year is to replace all of our "day-gig" income including our health benefits -which are substantial from this business alone. Our other businesses, and now, to a certain extent, this one, enjoy our investment of returns right back into the businesses. So, we are not taking any money out of the other businesses with the exception of some rental returns which go towards the long term care of a parent.
We started this business with a website and a blog called, "Earth's Pull." Back then, our twin goal was to be debt free and to have any day gig become completely optional. And nothing has really changed. Last year's timing seemed off and the delays were horrendous. We did not meet our goal. We think now that the timing may have been providential (possibly more on this later), and we are making provisions/taking measures for/towards the delays.
For now, all eyes are on Hazel, with one or two exceptions:
First, we are still slated to close on Moreland on Friday. YEAH! Happy people. (Mental Note: Need to cancel insurance and utilities.)
Second, our alma mater, North Dakota State University, just cinched their 5th consecutive win in Frisco, Texas! North Dakota State scored on its first four possessions and rolled to a 37-10 victory over No. 1 seed Jacksonville State in the NCAA Division I Football Championship Game before a record crowd of 21,836 at Toyota Stadium on Saturday, Jan. 9. Our friend pointed out that the ESPN announcer may have got it right when he said that NDSU is not a dynasty. It is an empire!
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