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Archive for January, 2017

Tax time, goals and sharing the 'Homes budget'

January 31st, 2017 at 04:17 pm

Hi all

Today is tax day for me. I am figuring out and gathering all my tax documents for me and the rentals

i also need to gather the not for profit tax info

I lost $28k gross income to my bottom line by closing the not for profit

This 5 year journey has been a wild one.my first 2-3 years were very tight. I had a good year last year and now I am Very tight again

I updated my financial goals to the left there for 2017. Those are highlevel goals. I will track monthly and set some mini goals to get to those larger goals

I continue to be off track (per my 5 year goal) towards my personal residence payoff with no clear ideas or plan on the horizon to make that up

I am also short with investments (primarily because I bought more homes) with no clear plan on the horizon to make that up

I want to formulate clear plans to make those gaps up and I really want to put together a plan to make $1000/month more income by March 1

I am putting in 25% my 401k now through the end of June. it makes things pretty tight but my contract only goes through the end of June.

Anyway I am sharing the homes budget for next year. Vacancy, maintenance is estimated based on #s from prior years and then rounded UP. Net assumes homes are paid off. They are not paid off yet. Payoffs start March 2018. . My payments exceed $7500 a month right now. I DO plan to use any extra net from the homes this year to build up the 'rental emergency fund' so not drawing anything from the rentals yet and hoping for no large expenses. I am not planning on any improvements this year

Budget attached. Red means rent is Section 8.

I will be posting more this next few days as I get caught up

HI all!! Year end goals and end of year net worth

January 12th, 2017 at 10:31 am

Hi all

Year end goal updates and networth at year end below

VERY busy at work but did get renewed thru 6/30 and woudl think they will renew me again after that. VERY BUSY.. Working lots of hours which of course means more $ as I am paid per hour. I am still on match.com but it is expiring 1/16 and will take a break for now. I am dating some guys. two of them. not sure if they are a match but figuring that out as we go along.. but need a break

I DID close my rescue.. bittersweet..emotional. sad.. but DRAMATIC change in stress level.. loss of $30k income on top of $1750 month loss when my ex moved out. VERY TIGHT year for 2017 and need to find additional ways to make more money to meet savings goals.

2017 is the last full year of the real estate payoff. real estate will be paid off in full 6/2018

Currently dealing with 2 vacancies and 1 unexpected turnover. Upsetting and expensive. I am not as 'on it' as normal with work stuff and also hurt my knee badly

I am dropping HSA funding this year and will not do a ROTH or regular IRA this year. Does not make sense to do so. Doing just investments and fully funding 401k and beefing up emergency funds (for rentals)

Anyway will post new goals shortly. just saying HI.. miss you guys and talk to you soon. Smile ..rachael

GOALS FOR End of Year 2016 RESULTS
1. Maintain emergency funds at correct levels-DONE
2. Increase total savings and investments to $310k-$41k short, only had $270+
3. Increase rents across all units by $600-increased $305
5. Raise rent or sell 411 house-DONE, + $50
6. Buy 2 more homes-bought 2 flat and 2 homes
7. Fully fund HSA accounts-DONE
8. Fully fund 401k account-DONE