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Archive for May, 2017

Paying off the 2 flat

May 11th, 2017 at 10:00 pm

today I pulled out $22750 from the rental emergency fund and tax escrow fund to pay off the 2 flat.

payoff is Monday

First 1/2 of taxes are due 5/31

I will be working next week figuring out how to balance things off and pay this borrowed money back and get taxes paid

Still I got a $5k discount on payoff so worth while

this is also my last check with 40% 401k deduction so future checks will be higher

My goal is to repay back the tax escrow and rental emergency fund this year.. and keep on saving as much as I can and meet all the other obligations

If I just put what I would have paid to the monthly 2 flat payments to paying myself back that is already $9770 approx from now through the end of the year... so my realistic shortfall is approx $12980 that I need to put new cash too.

Just cash short right now especially w taxes due.

I will update after I get rents. Rents have been more and more stable which is wonderful

Rachael

real estate updates

May 9th, 2017 at 02:18 pm

Hi all

Real estate updates

2 flat seller and I agreed on a payoff due 5/15 of $22750. This is a $5k discount and means EVERYTHING is paid off by March 2018. I am taking this money from the emergency fund and will pay it back to that. also scraping it up from other sources

The house I put a bid on.. the bid was not accepted and it was sold to someone else. Frown

My last 401k contribution comes out this paycheck on the 15th. after that I should have a big bump in take home pay.. especially with extra hours

My contract is up 6/30 and I am trying to get it renewed. talks are in the works. nothign guaranteed. I expect to have word in 2 weeks. a little nervous but I think I will be renewed.

Rachael

More news! crazy month

May 3rd, 2017 at 01:57 pm

More news

The 2 flat owner is looking to see if I can pay off now at a discount. I currently owe her $26k and am scheduled to pay it off per the contract April 2019 but was going to pay it off early in June 2018 (she does not know that)

Hoping she comes back with a good figure and if so and I can raise the money I will pay her off early and then my total payoff ends 3/2018!! (with only the 3 units left)

It would be exciting to start 'winding up' my 5 year goals.

How much do you think the discount has to be to make sense for me to pay her off early?

No news on my offer yet! Hoping for good news today.

Rachael