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Final 6 months of 5 year goal

January 9th, 2018 at 09:00 am

Hi all

I will post 2017 #s shortly. I am 6 months from my original end goal timeframe.. end of June 2018 is the end of my 5 years.

My original goal was to pay off all original properties by then.. towards that I have the 3 units to pay off ($15k owed.. payoff end of March). I should reach that goal.I bought several other properties since and my other goal (new goal) is to have $30k left to pay on the 2 flat.. by June 2018.. Stretch challenging goal w all the overages. I have no other rental property debt

Anyway..today I asked the broker to sell all my funds in preparation of again moving to Vanguard and setting up shop there. There fees are lower and it easier to send in small amounts. I will take a tax hit to do this which is why I waited until after the new year but better now then later. I feel my decision is a good one.

2 flat painting/misc is DONE. What is left is : cabinets, carpet, counter and final city inspection. I will have final quotes on all hopefully by tomorrow.

I will order carpets, appliances today. hope to have tthem brought yet this week. I will push for cabinets Friday or first thing next week. We can start to show after the cabinets are in but I can not have occupants until the city walks through (we fix any remaining items they find. hopefully nothing) and the counter tops are installed which will be 7 days after the cabinets

Home stretch!!

I will decide to sell it or not in March

Other homes going 'well' except major cold related issues.. 3 homes w pipes that burst..2 minor.. 1 not so minor and requires a plumber (hopefully coming tommorrow). others were fixed by the property mgmt firm. People did not keep heat high enough or run water in the pipes despite being warned and advised to do so.

I am feeling better today... like I am finally seeing the end of this BIG HARD TREADMILL like existence and goal I have been under

I plan to work this high dollar job all this year and will reevaluate next year

School starts TODAY.. Taking Old Testament, Intercultural ministry and Spiritual Formation and Discipleship

Hours are still VERY LOW at work.. hoping to catch a larger project in March.. no foreseeable hope for more hours until then. I barely have 10 hours of work as it is but can bill 40.

4 Responses to “Final 6 months of 5 year goal”

  1. rob62521 Says:

    Yay on the payoff...it is getting closer!

  2. snafu Says:

    Can I presume the tax hit you will be assessed is totally capital gains? Have you already decided your allocations for Vanguard products?

  3. AnotherReader Says:

    It's too late, but transferring "in kind" and selling slowly can lessen the tax hit. Whether that would be worth it depends on what you had with the broker.

  4. rachael c resk Says:

    Thanks for the feedback on transferring the accounts. It is already done but I did talk to my accountant and Vanguard about transferring in kind. Vanguard had fees to sell (if sold through them) as they are not Vanguard funds, some were not even funds Vanguard offers.. and all funds were held more than a year. I took the 'rip the bandaid' off approach to get it over with . I think I am ok. Better to 'get it over with'. Regarding allocations for Vanguard. open for thoughts but was goign to go with a lifestage fund.. with maybe 75% stocks, 25% bonds or buy 3 funds that comprise that. not sure. but keeping it simple. I can contribute more (certainly after June). I expect funds to be at Vanguard by early next week! I feel good for making the decision and acting on it.

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