Saturday, December 29, 2018
Saturday, December 22, 2018
Monday, December 17, 2018
Real Estate that I have no use for... yet anyway
This is a long story. It began when my grandpa passed away and left his house on a small piece of land to my mom and my two uncles.
One of my uncles was living at that house so, the siblings decided he should keep on staying there. That uncle's business was going poorly and at one point in time he borrowed money from the bank showing the house as collateral. Both siblings agreed to this so, there were no problems between them. Then my other uncle passed and now 1/3 of the place belongs to my two cousins and their mom.
At one point in time my sister and I told our uncle to file for bankruptcy seeing that he will soon be a lot more in debt. He reluctantly agreed. Mind you the failure of the business was not his fault. His lenders were expecting payment but the organizations who owed him, did not pay him on time or at all. So, the cash flow situation became very problematic and we wanted him to stop working to stop the loss.
He spends his time between an apartment I have bought from him to help him with his cash flow a few years ago and my mom's apartment. He has a small Social Security income and I pay all his utilities and whenever he needs a car, he uses my 2010 Nissan which I am not using. I have another car I bought this year. He is not happy since he feels he screwed up and he thinks he is a burden. Very far from the truth. He is our only uncle, my mom's only living sibling and his failure in business was no fault of his. Lots of bad luck. He also took care of my grandparents for many years since he lived with them. Also he is the only living man in our family. He is only 9 years older than I am and I consider him more a brother than an uncle.
I own his portion of the family home left to them since, I took over the bank payments for the loan he took showing the family home as collateral. Lately my cousins and their mom declared that, they are in need of money and they would like to sell their shares. Mom does not know this, since she will be upset if we sell the home. The property isn't worth much. So, selling it would be meaningless and would upset mom. Therefore, I have decided to step up (again) to purchase their shares. Tomorrow I will talk to my cousin.
When all is done, I will be owning 2/3 of the family home. 1/3 belongs to mom.
So, now I own my current residence, a two bedroom apartment in Istanbul, another two bedroom apartment in Ankara which I rent (still looking for a new tenant), a three bedroom apartment in Antalya which is mostly used by my uncle although everybody goes and stays there a few weeks a year, and 2/3 of a small house in Konya which is desperately in need of repair. Except for my residence, I truly have no need for any of the other properties. I would much rather have cash in a savings account than all this real estate. However, I cannot sell them for obvious reasons.
The bank loan will be gone in October 2019. Before that, I cannot really do any repairs on the home except for the much needed roof. I will probably slowly do the repairs and use that place as a weekend home for all the family. I intend to plant some fruit trees too. My grandpa used to have a great garden. So, at least we can go and stay there any time we want. I think this will make both mom and uncle happy.
I am glad I have the means to step up and do all this. I do not know what would have happened if I did not.
One of my uncles was living at that house so, the siblings decided he should keep on staying there. That uncle's business was going poorly and at one point in time he borrowed money from the bank showing the house as collateral. Both siblings agreed to this so, there were no problems between them. Then my other uncle passed and now 1/3 of the place belongs to my two cousins and their mom.
At one point in time my sister and I told our uncle to file for bankruptcy seeing that he will soon be a lot more in debt. He reluctantly agreed. Mind you the failure of the business was not his fault. His lenders were expecting payment but the organizations who owed him, did not pay him on time or at all. So, the cash flow situation became very problematic and we wanted him to stop working to stop the loss.
He spends his time between an apartment I have bought from him to help him with his cash flow a few years ago and my mom's apartment. He has a small Social Security income and I pay all his utilities and whenever he needs a car, he uses my 2010 Nissan which I am not using. I have another car I bought this year. He is not happy since he feels he screwed up and he thinks he is a burden. Very far from the truth. He is our only uncle, my mom's only living sibling and his failure in business was no fault of his. Lots of bad luck. He also took care of my grandparents for many years since he lived with them. Also he is the only living man in our family. He is only 9 years older than I am and I consider him more a brother than an uncle.
I own his portion of the family home left to them since, I took over the bank payments for the loan he took showing the family home as collateral. Lately my cousins and their mom declared that, they are in need of money and they would like to sell their shares. Mom does not know this, since she will be upset if we sell the home. The property isn't worth much. So, selling it would be meaningless and would upset mom. Therefore, I have decided to step up (again) to purchase their shares. Tomorrow I will talk to my cousin.
When all is done, I will be owning 2/3 of the family home. 1/3 belongs to mom.
So, now I own my current residence, a two bedroom apartment in Istanbul, another two bedroom apartment in Ankara which I rent (still looking for a new tenant), a three bedroom apartment in Antalya which is mostly used by my uncle although everybody goes and stays there a few weeks a year, and 2/3 of a small house in Konya which is desperately in need of repair. Except for my residence, I truly have no need for any of the other properties. I would much rather have cash in a savings account than all this real estate. However, I cannot sell them for obvious reasons.
The bank loan will be gone in October 2019. Before that, I cannot really do any repairs on the home except for the much needed roof. I will probably slowly do the repairs and use that place as a weekend home for all the family. I intend to plant some fruit trees too. My grandpa used to have a great garden. So, at least we can go and stay there any time we want. I think this will make both mom and uncle happy.
I am glad I have the means to step up and do all this. I do not know what would have happened if I did not.
Monday, December 3, 2018
Projects on the Horizon
It seems like there may be a project or perhaps two on the horizon. I have attended a meeting with one potential customer and am preparing a presentation for another.
I have been feeling pretty lazy lately so, some work will not be too bad. As long as I can keep busy two days a week or so, I will be content.
Lately I have been thinking about when to say goodbye to Istanbul for good. My sister and BIL still have 10 years to go before they can retire. I would like to be close to them eventually. They live in Izmir but they do not like it very much. My sister thinks they will most likely end up in Ankara which I dislike. I would like to be near the water and yet I do not like to be too far away from good health services. This is an unsolvable problem. Anyway, I have no intention to move within the next 3-4 years so, may be I should park this concern for now.
I have been feeling pretty lazy lately so, some work will not be too bad. As long as I can keep busy two days a week or so, I will be content.
Lately I have been thinking about when to say goodbye to Istanbul for good. My sister and BIL still have 10 years to go before they can retire. I would like to be close to them eventually. They live in Izmir but they do not like it very much. My sister thinks they will most likely end up in Ankara which I dislike. I would like to be near the water and yet I do not like to be too far away from good health services. This is an unsolvable problem. Anyway, I have no intention to move within the next 3-4 years so, may be I should park this concern for now.
Thursday, November 22, 2018
Tuesday, November 20, 2018
Rising cost of groceries
With the economy tanking in this country, things are getting very expensive. Today we went to a German version of a big box store for some necessities and spent quiet a bit of money. Between what I have ordered online and what we bought today, I think we are good to go till the end of the month. We may need some small stuff but, not much.
In any case, everything is so darn expensive. Eating out is getting to be real expenive so, I am glad we are cooking and eating at home mostly.
We bought quiet a bit of vegetables and some chopped meat and turkey drumsticks. Here is what mom and I will be making:
- Stuffed tomatoes and peppers cooked in tomato sauce.
- String beans cooked with chopped meat
- Stuffed eggplants
- Turkey drumsticks cooked in pressure cooker. The meat will be used for salads and sandwiches. The broth for soup.
- Pumpkin. I will use half of it in a soup, the rest baked in the oven with sweet potatoes and regular potatoes.
Meals will be divided in portion sizes and frozen so that we will not have to cook every day. I am tired of cooking almost every day lately, so, this will be a nice break.
In any case, everything is so darn expensive. Eating out is getting to be real expenive so, I am glad we are cooking and eating at home mostly.
We bought quiet a bit of vegetables and some chopped meat and turkey drumsticks. Here is what mom and I will be making:
- Stuffed tomatoes and peppers cooked in tomato sauce.
- String beans cooked with chopped meat
- Stuffed eggplants
- Turkey drumsticks cooked in pressure cooker. The meat will be used for salads and sandwiches. The broth for soup.
- Pumpkin. I will use half of it in a soup, the rest baked in the oven with sweet potatoes and regular potatoes.
Meals will be divided in portion sizes and frozen so that we will not have to cook every day. I am tired of cooking almost every day lately, so, this will be a nice break.
Monday, November 19, 2018
Change of Plans
We were supposed to go grocery shopping today but, mom is not feeling so great. I ordered most of the stuff online. For fresh produce and meat products, we will go tomorrow.
It is cold and rainy these days. Makes me want to sleep all day (if mom lets me to of course).
I want to go see the Bohemian Rhapsody this week. I have read and heard mixed reviews. I love Queen.
Today's business goal is to list the topics to include in the training set. I have ordered a Reference Book. Also, my lawyer friend will be sharing some material for me to use.
Off to work now.
It is cold and rainy these days. Makes me want to sleep all day (if mom lets me to of course).
I want to go see the Bohemian Rhapsody this week. I have read and heard mixed reviews. I love Queen.
Today's business goal is to list the topics to include in the training set. I have ordered a Reference Book. Also, my lawyer friend will be sharing some material for me to use.
Off to work now.
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