When I first moved to Chicago, I started obsessing over saving money for a down payment on a condo which I intended to purchase during the summer of 2008. Reality (not realty) set in gradually over the next few months: I have no idea where I will be living and working in three years. I don't want to make an investment on something I will have to turn around and sell so quickly. I also don't want to deal with the property management of renting to someone remotely.
Around the same time, Matthew started continuously asking me if I would like to go in on a down payment on property in Colorado. His intention was for me to front the down payment on a foreclosure that he would then fix up. However, we wouldn't flip the house, but rent it instead.
Less than lukewarm about the idea of making such an investment my own brother, I flew off for Denver the Monday before Thanksgiving. After midnight, Matthew asked me if I could be up at 7:00 in the morning, so that we could drive around and look at foreclosed properties in the greater Denver area.
Obviously, he was serious about this. But I was serious about my vacation and sleeping in. A fight quickly ensued. "You think I am a bank; you didn't even warn me that we were looking at properties in advance." In the long run, and without any tears shed, I realized that I am not so much worried about losing money as I am potentially ruining my relationship with my only sibling.
As the week went on, and we hiked around the NCAR grounds and the Rocky Mountain National Park, the altitude and scenery got to me, and I am once again considering saving up for a down payment for next summer, but this time in Colorado.
I returned to Chicago, wondering if development is somehow in my family's blood. The men on my father's side have either built their own house or build houses for others. My father is an architect, and my brother is now obsessed with property management after having earned his appraiser's license and in the process of acquiring a brokerage license. With this thought still in mind, I opened my email only to find out that my cousins just purchased a home in Croatia.
I guess you can't deny who you are. Just as much as it may be my brother's inclination to renovate and manage a house, it has always been my inclination to save money for the purpose of investing. On my mom's side of the family are those with an inclination for legal matters, so I guess we'll be sitting down with them soon.
*If Matthew ever sends me pictures from my trip, I will post those soon.*
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