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Wrapping up items for the year

December 18th, 2017 at 10:33 am

HI all

Hoping to wrap up 2 flat work this year and get it listed first thing next.. and then either keep or sell it.. stressful!!

Got a house vacating at the end of the year but rents have gone up dramatically so hoping to get $100 more for it. Last tenant was Section 8 and she is moving to non Section 8 (good news for her!).. We are listing it now at $1350

Doing Dad's finances.. he has 3 years 9 months left of funds at the current run rate.. July 2021.. scary to have so little left.. net cost per month is a little over $8000

No other expected vacancies and last year we moved lease ends (as much as we could) to not end in the winter time but folks appear to be happy and staying in the majority of the units anyway as things have smoothed out quite a bit these past few years

I still believe in real estate income as a good monthly income source. Still streamlining things more and more but feel very good w how things are going.

Still NOT approved for the refinance to the 30 year (on a 15 year now). hoping to hear this year

Next year my goals will include paying off the 2 flat and the 2 flat debt then just saving/investing. no more purchases in mind.. also enjoying some.. have not jsut enjoyed for some time

My current monthly cost (w a 15 year mortgage) require me to make at least $80k a year and that is with out savings!! I want to get that down quite a bit to needing a $50k income to pay just normal bills.

FOUR more payments due on the 3 units. approx $20k.. I have already escrowed one of those payments in advance and ready to pay on the 1st

Rachael

4 Responses to “Wrapping up items for the year”

  1. LivingAlmostLarge Says:

    Good luck. I don't want to write this but the average length of nursing home care is 3-5 years. So it might okay. I hope your dad outlasts the average but something to think about.

  2. Rachael777 Says:

    That is fine and appreciate the info and support. Dad is already on year 3 and we are really hoping not to have to move him!

  3. rob62521 Says:

    Hope you can get the refinance.

  4. VS_ozgirl Says:

    Good luck for 2018!

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