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First entry

October 3rd, 2013 at 01:10 pm

HI All. This is my first entry. I have been lurking for a while here but thought writing may help me. I have a serious 5 year goal and am striving as hard as I can towards it.

I lost almost everything about 5 years ago and am basically rebuilding from scratch (scary!!!). I went into a 'slight' depression during that. (haha). Also got divorced, lost 2 homes to foreclosure, lost restaurant, closed other business...I sortof was on the mountain peak and tumbled all.. the... way .. down (very loooong fall) .. on and on. We will just call that period 'the dark years'. Smile I am now up and out and reaching towards my goals.

I work in IT Project Management and have been back to work for a little over a year. I filed for bankruptcy in 2010 to stop the continual bad reporting from the homes and start rebuilding my credit. I do not regret it. All that was discharged were the homes. 2 rental homes were lost. 1 is still hanging in there and I may 'short refinance' my own home. Will know this in the next week or two. My credit score is now 713.

I am concentrating on real estate as my avenue to freedom.. looking at 'monthly income' vs savings. I want to have enough monthly income in 5 years (see my goals) to feel 'safe' and like I have choices. I am in good shape and health so do not feel I will quit working but will certainly enjoy any job I do more knowing I do not 'have to' work.

More tomorrow. First entry. Smile

9 Responses to “First entry”

  1. Petunia 100 Says:

    Welcome to SA, Rachel. Best of luck to you with your goals. Smile

  2. creditcardfree Says:

    Welcome! Just having your goals makes you more likely to reach them. I look forward to reading about your progress.

  3. TashaC. Says:

    good luck! It sounds like you are planning for an aggressive 5 years! I am in rentals as well. We bring in about $5500 most months but net about $4200 after taxes and insurance and 1 mortgage across 4 rentals. So your $8k goal interests me. I will be reading your posts.

  4. PNW Mom Says:

    Welcome!

  5. rob62521 Says:

    Welcome! You will be busy the next 5 years working for your goals, but don't give up!

  6. momcents Says:


    I'm a resident of the Chicago suburbs, as well. And I'm an owner of rental property as well. Though I am not loving it too much and with a largish family and striving for a simpler existence, I may be free of mine soon. Anyhow, welcome!

  7. CB in the City Says:

    Hello and welcome! I'm another Chicago suburbanite -- and I had some dark years as well!

  8. Looking Forward Says:

    Welcome!
    I am very interested in rental information, so keep it coming. Smile

  9. LivingAlmostLarge Says:

    How are houses in Chicago so cheap?

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