How this Alabama couple bought a house for $8,000 cash - AL.com

Eddie and Katie Burkhalter found financial freedom, even though they live on less than $35,000 per year. How did they do it? They bought a serious fixer-upper with cash, according to a story from Reckon.

Saying the house, which the Burkhalters bought with $8,000 cash, was in need of a little TLC would be an understatement. But with some work and a lot of saving, they turned it into a home for their family.

“Obviously, we knew what we were getting into. The real estate agents had never been inside the house. It was uninhabitable,” Katie Burkhalter said.

The home needed flooring, electrical lines and gas lines replaced. Thanks to YouTube and help from family and friends, the couple restored the home without needing to take out a large construction loan.

Since 2014, they’ve spent around $25,000 on restoring the home.

“I see people now struggling because of the pandemic and how we very easily could have been in a shelter when this pandemic hit if we didn’t have this house paid for. A flat tire can send a single mom into homelessness,” Katie Burkhalter said.

For people who are looking to get out of the paycheck-to-paycheck cycle, Eddie suggested anyone willing to take on a challenge should also buy a fixer–upper.

“I know that whatever happens, even if I were to lose my job, we’d be okay. We’d make ends meet. There’s that comfort in that — and especially during this pandemic, when it was really uncertain,” Eddie said.

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How this Alabama couple bought a house for $8,000 cash - AL.com

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