Looks like I will get approx $80-$83k from Dad's estate. Funds should disburse in these next 2 weeks. All will go into Vanguard
2 flat is renting and we are getting applications.. QUICK!
If I sell the 2 flat I will pull out approx $73k
If I do not sell I have to pay off approx $23k in'fix up debt' and then the rest of the mortgage ($17k) and will still own a property that I have sortof 'bad feelings' about
I will decide the plan once it is fully rented.
Nice to have options
Selling it puts me at approx $500k investments..
I am thinking of working w a life coach. feeling a little lost and directionless lately
I will pay off the 3 units next week.. we are settling up water bills which we need to do to get the tax stamps. Some tenants are late w their water bill. We are giving htem until Monday and then I will pay them and seek reimbursement.
I did not do my monthly tax escrow for real estate taxes until this month so with owing approx $33k in expected taxes across all properties (including the 2 flat which I may sell) I need to significantly up my escrow to make the June 1 first payment date and 2nd payment date of September.I have $4572 saved now.
My plan is to put an additional $4k in escrow this week and then $7k once I get the rents for April and then probably do that again next month.. and then reduce it to something like $4500 a month for future months.
I will have true numbers for cash flow after September (right now I have to subtract all these costs that would not normally happen)..I will track cash flowfor 6 months to get accurate numbers and continue to work this high dollar job and sock away whatever I can in that time period.
Happy Easter everyone!
Archive for March, 2018
I have completed my first full week at work. I think I like work and it will work out. I am making friends and just SOCIAL contacts and am out of the house. I am so much more focused working out of the house. more exercise more energy .. lots of good benefits. have not received a full check yet but I will be making a much more. over $1200 a month more on 40 hours
I will start the 401k in July and prob do my first test of the rents then (3 units will be paid off by then).. with doing 100% in 401k for 2 months to get that maxed out and just relying on rents for normal expenses.
2 flat is up for rent and being shown. Hoping to get it fully filled by mid next month. Shows well
My current plan (unless something changes) is to sell it.. it just has bad vibes for me.. feels bad. everything I did with it turned to bills and nightmares. . I do not need the income but I can use the cash. It is like 90 years old. I just want to move on.
I do not expect to make much if at all on it.. maybe $5k . but I can expect to have approx $50k cash back from the sale due to the accelerated payoff on it..
That will go towards investments.
I can expect to receive $73 k ish from Dad's estate. I was planning to invest that all. all in Vanguard
So total $125k ish to Vanguard which dependent on the market may bring me up to $475k.. contribute $18k to the 401k this year and then other savings. Hoping to break $500k this year. I have $350k now.
I will be happy when all the work of Dad's estate and everything is done so I can relax, enjoy the memories and grieve.
3 unit payoff will happen whenever I get rents this month. I just talked to the property manager and I should have those rents mid next week.
Paying that off is the major item in my 5 year goal.
I am breaking off all 'entanglements' .. ie guys I have been dating for a while and am not serious about so I can be open to finding someone else.It is scary to do so.. and upsetting and lonely.
I am working on making more girlfriends. everyone is busy and has their own lives. I will join some groups etc.. hobbies whatever. I DO have more people to call which is nice and associate with
Working out more. and trying things out at the church.. different volunteer assignments and meeting more people
I do want a long term relationship
School started .. New Testament. Love it!
I may take off from school for the summer. I prefer not too but may have to due to scheduling of classes
I am picking up information this weekend to be certified as a chaplain too. exciting stuff
Those who have been following a while may remember that I stutter. The national stuttering association annual convention is in Chicago this year. I will be presenting a job search workshop. neat stuff! Lots of people do not know that but inside I carry it and it comes out when I am tired or down
I will start escrowing a full months expenses starting in May and then tracking my net from the rentals. This way I will have a more accurate idea of what is really coming in that I can depend on. I expect that to average to a net between 7-9k a month
so far I feel I am winding up my 5 year goals and getting ready for something (not sure what) but just continuing to wind things up and move forward
If I ever get sick of the rentals I can sell them now that they are (will be next week) paid off.
Still want to build my investment positions. only have $350k and less w the market going down probably..
I want that up to $500k by end of the year.. we will see.
Hope everyone is doing good. I could not have gotten this far without the support of this group.
I feel this is a season of change for me.
Dad died.. new job (not sure if I like it or it was the right idea).. take two of my first day is tomorrow. I am doing school work today. I have several assignments. Will work til maybe 1 and then call it a day (it is 9:30 now). For assignments not done by then I may choose to take reduced grades. Someone told me once "no one checks graduate school grades" but I would like to complete.
New Testament starts today
My cabinets are getting painting this week. They came by yesterday for the doors to paint in the paint booth and will come back to paint the rest this week. Also was going to get new vanity tops.. upgrades that will add value to the house or help it sell faster WHEN I sell. not selling now. Total cost for all that probably $2800
Dad's estate is approx $300k so I can expect $90k.. and probably keep $80k of that after taxes. All will pretty much go towards Vanguard investments. I am the trustee of the trust so expect to disburse after I have clarified taxes and final medical bills (for ambulance, ER, silverado). I have $5k in a local account for Dad that should pay those.
I also pretty much decided to sell the 2 flat.. comps may be lower than thought. not sure. I expect to make less than $5k or be slightly negative. All the payoffs I have done though will give me a net of almost $40k at close which will go to Vanguard investments.
I have $201k in Vanguard now so expecting to tack on another $120k.. which will put me at $320k taxable money (the rest is tax deferred).. Doing this (selling 2 flat) also alleviates my self imposed pressure to pay the bulk of that 2 flat off in the next 6 months which means my rental funds each month can go towards savings and investments. We are putting a for rent sign up today at the 2 flat.
I have been dating but have not found "the one" .. I still have the bad habit of not cutting things off right away when someone is not a good match. I have to break things off w this guy here shortly but have "delayed" it due to guilt or whatever but really just need to move on. Life is short. I have kept myself off the market needlessly. I need to be quicker w my evaluations. I think a better support system will help with more friends
Looking forward to meeting more girlfriends or in general being out of the house w this new job or whatever.. just stressed the job was a bad move..
We will see.
Feeling very much in flux and stressed.
Starting final homework now!
Also need to get back on track w eating.. gained 8 lbs since July and never lost it or got back on track
Dad died of hardening of the arteries and I want to live long and vigorously.
I am making the 2nd to last 3 unit payment TODAY.. after this I will make the last payment whenever rents are sent to me. generally last day of the month.
At this point I will own:9 homes, 1 2 flat and 2 3 units outright. The 2nd 2 flat referenced above still has loans on it.
Catching everyone up.
Dad passed away suddenly Monday. Atheroschelerosis.. hardening of the arteries.. believe it was a heart attack. Good way to go as it was quick and sudden. He was done eating lunch at Silverado, walked to his room and collapsed
Very sad shocking stressful.
I got the call at work and left immediately. It was my first day and I left at 1pm. That felt stressful too but folks understood. I left shaking and crying.
I am the power of attorney, trustee of the trust and executor of the will and only local relative. There are 3 total kids though. I am the youngest and only girl. LOTS of work getting everything ready and taking care of arrangements for Dad and coordinating everyone else.
Service and viewing is Sunday 1:30. Dad wanted to be cremated. We will have a 3 hour service, have a Deacon say prayers mid way through and visit and then go out to eat. A candle was lit at the Notre Dame grotto for Dad too which was nice and someone is setting up 'perpetual prayers'. Mostly family is coming and some of my friends will drop in and out. Dad's long time girlfriend, Rogene, wants it small and intimate
Having someone die and returning to work in an office setting (even for 4 hours) really crystalizes that I am burnt out w the office setting program management role and want to enjoy life more. I only did an hour formal intro of policies at work and then got my laptop working so did not do anything substantial or meet many people. I suspect when I have something to do and make friends and have a permanent desk (they are going through a reorg of the seating chart so I am "squatting") I will like it more but I was stressed and not sure I liked it.. and then Silverado called so not a super awesome 'test' of my first day.
It crystalizes that life is short too and precious. Some of the staff where Dad was may come too which is very nice. Sortof emotional and stressful.
I 'met' several people this week with the Catholic Church, hospital, funeral home and others and there are so many other jobs I can do and still do well. I am really burned out and stressed.
I have been scattered the last 4 weeks w school too. Last quarter ended last week Monday but I asked for an extension and was granted one til Friday (today) but realistically folks are flying in today (now) and I do not think I can complete all papers by tonight. I feel I have been working 24 hours a day on the arrangements and have not had time to grieve either. I took off this week from work but folks are not leaving til Monday and again I have had no time. I am thinkinkg of asking if I can return Tuesday or preferably Wednesday.
Also thinking of getting Spiritual Formation done and then asking if I can have til Monday to do Old Testament and Intercultural Ministry.
I am VERY STRESSED and do not want to be.
We are having everyone fly in that I have not seen for years I want to grieve, be sad, relax and enjoy the 'reunion' and hopefully get the family off on a different foot so we stay in contact.
What do you guys think? Do you think it is too much to ask for school extensions til Monday and Work til Tuesday or Wednesday.
We have to spread the ashes too when folks are in town.
2 flat passed today.