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updates on school, refinance, 2 flat and me

November 6th, 2017 at 04:22 pm

Hi all

few updates

Just finished the 3rd week of school for these courses.Intro to Theological Research and Hermeneutics. VERY challenging.. lots of writing, lots of research, lots of citations. I signed up for my 2nd 8 week series next year..I am taking Old Testament and Spiritual Formation..

So far all costs are on loans.. 6% rate..

2 flt passed framing, passed insulation inspection. target for cabinets end of next week. We will rent for at least a few months then see if I want to sell.I do not have final costs yet as we are still doing work but estimating ending up at 45000 (crazy!). Target to complete end of next week after cabinets. I want it done and am so tired of working in it. we had to rebuild the stairs too.

No news on the refinance. hoping for news soon but in the meantime really cranking on the mortgage. only owe $283k and paying off over $1500 a month towards principle.

Rentals continue to fine tune and crank out an incredible amount of cash and are getting better controlled. last month I pulled over $8000 out of them (all went towards the 2 flat) and backfilling that rental emergency fund. I will have completely rebuilt the rental emergency fund by the end of this month then every extra amount goes towards paying off these crazy 2 flat costs.. So glad I got the home equity loan (2.9% for 6 months)

I am still planning to pay off as much of hte 2 flat as I can by June 2018 and am on track to do that

Work has increased again. I can likely average at least 45 a week .. likely more like 50 hours a week. that brings me an extra 2k a month and next year will allow me to contribute to the 401k easier.

Payoff of the 3 units (payment over $5k a month) still on target for end of March but then I immediately divert that to the 2 flat payoff and fix up costs.

Been thinking more flexible. so either work this high dollar high stress job until end of 2018 or convert to some other "funner' job after.. Many people have 'retired' or became financially free and then returned to work in a NEW capacity. I do not want to sit at home. I am young and am good health. I jsut want to be free of this crazy job (and the 2 flat. haha) and have more free time and do what I want to do. I have deferred that for almost 5 years.

Health insurance will go up approx $50 for WORSE coverage.. $6500 deductible.. 50% copay. what is the point of having insurance??

I am going to make it a priority to get all my doctors appointments in the next few weeks as I already paid the deductible for this year.

Taxes done. only getting about $7400. way below my hopes.. my accountant says I am trouble for next year. We will work on tax strategies next week..I do not have the expenses anymore to offset all the rental income

Still have not found a long term relationship..

Rachael



2 Responses to “updates on school, refinance, 2 flat and me”

  1. laura Says:


    Not sure if I am missing the obvious, but you've just started your time at MBI and I am sure that is in preparation for some type of career change once you've graduated. Are you able to work a "lesser" contract and concentrate more on the academics so you can get to the new "phase" faster? And maybe something fruiftul will come from spiritual formation? (As a teaching assistant, I worked with the professor in charge of spiritual formation and clinical pastoral education - seemed a very interesting process of discovery and planning.)

  2. Rachael777 Says:

    I can dial it back after June but right now have too many balls in the air to dial it back comfortably. I am still paying over $7500k in mortgages per month on the rentals and have not rebuilt my emergency funds back and have all this 2 flat debt. Program is targetted to complete if you go full time in 2-2.5 years. I should meet that on the track I am at. I can also probably start exploring other opportunities next year. I am committed though (in my head) to work this higher dollar job through June.. Thanks for the note. Moody is awesome and I love learning!! realistically when I look at my 'stress test' I still have some risk still to mitigate. I will ask for renewal (again) in about 2-3 weeks .. contract ends the end of this year

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