Chapter 2

As Roger pulled up in front of their house he saw that although the house was showing some signs of wear it had basically been well maintained over the years. He knew that many of the younger generation looked for these older homes and a quick glance at the newer cars and minivans parked in the driveways of the houses in the neighborhood convinced him that the neighborhood had it's share of younger couples. He saw that several of the houses had recently had additions added.

"Do you have time to stop in for a cup of coffee before you head out?" Aaron asked, "Ethyl baked a batch of cookies this morning. It's the least we can do for you buying our dinner."

Roger looked at Ethyl and saw that her eyes were pleading with him to stay a while. Roger was sure that with their ages and lack of money their circle of friends was probably small and company was a welcome treat for them so he nodded his head.

As they walked into the house he noticed the there was a chill to the rooms because the wood stove had died down. Aaron told him that he would get it going as soon as he got some wood inside. Roger went outside with him and found out where the firewood was stacked and then insisted that Aaron go back inside and let Roger carry the wood inside. He made several trips in with the wood, stacking it next to the fireplace. Aaron soon had the fire going and, since the stove hadn't cooled completely, the wood stove insert began to give off its warmth.

Ethyl busied herself with the coffee and Roger could hear her bustling about the kitchen. Aaron made small talk for a while with his rear backed up close to the wood stove to chase the chill from his bones.

"Aaron, how about showing me the furnace. I'm a bit handy. Maybe I can think of some way to get it going so that you can at least use it for a while."

Aaron laughed and remarked the furnace was older than Roger but he motioned for Roger to follow him and headed for the stairs that would take them to the basement. As soon as Roger saw the furnace he knew that there was no way that the furnace could be made safe. The furnace had to be fifty years old or more. When he looked at the basement windows he could see daylight around the window frame. He had noticed before that there were no storm windows on the windows on the rest of the house.

As they walked back upstairs he could smell the fresh brewed coffee. Ethyl had brought the pot into the living room and had a dish piled high with several kinds of cookies on it placed on the coffee table. She smiled as they walked into the room and poured all of them a cup of coffee.

Roger took his coffee and two of the cookies that Ethyl pushed at him and began to think. Aaron was talking but Roger was only half paying attention to what the older man was saying. He began to formulate a plan in his mind.

Roger looked at Aaron and then Ethyl, "Mr. and Mrs. Hamm, as you know for our conversation at dinner, I'm an investor. I like to structure all of my deals so that everybody wins. That way we don't have any hard feelings. Have you ever heard of a life estate?"

"Basically," Ethyl said, "But I don't really know the ins and outs of it."

Aaron had a puzzled look on his face and Roger continued, "A life estate is where you sell me the house but I give you the right to live here as if it was your own home for as long as either of you or both of you live."

Aaron still had a puzzled look on his face, "I'm going to make you a proposal. As you know, a life estate has value. If you're agreeable we can have the house appraised by an appraiser of your choice. After you have a chance to go over the appraisal I'll buy your house for seventy-five percent of the appraised price. I'll have the new furnace installed and have replacement windows installed so that your home will be comfortable again. I'll pay all of the taxes and all major repairs in the future including any major appliances that it becomes necessary to have replaced. All you'll have to do is live here like it was still your house for the rest of your life. You do the normal painting and lawn care and I'll take care of everything else."

Ethyl was the first to speak, "That doesn't sound right. What do you get out of it? Everything is in our favor."

Roger laughed, "No Ethyl, you have to start thinking as an investor. I am buying a sound home in an area that should remain fairly stable. We can expect that the houses in this area will increase in value over the years and when you two are gone I'll have a nice property in at least as good condition as it is now and I'll only have paid seventy -five percent of what it is worth today. Look at what has happened to property values the past couple of years. If the situation stays the same I stand to make a healthy profit on this property one day."

Roger knew that he was stretching the truth quite a bit but these people needed some help. As drafty as this old house was he was sure that they would have to move out for health reasons. Maybe in the future he would be able to at least recoup his investment.

Ethyl looked long at Aaron and finally they both began to smile as the deal became clear to them. They knew that they would have had to sell the house soon and they really loved this house; it held many memories for them.

Roger saw them smiling, "Do you have a lawyer that you use?"