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Archive for September, 2018

Setting a new goal, friend died suddenly

September 13th, 2018 at 05:36 am

HI all

This is more a journal entry.. My friend Lisa died suddenly this week. She was 59, had a heart attack Sunday PM, CPR for 40 minutes, went to the ICU. They cooled her down so her brain could 'recover'. It apparently never did or was too damaged. She had a 2nd heart attack, never woke up, they removed life support and died yesterday. Very sad. She was one of those people who was the light of the room. Makes you realize how short life is or can be and we never know when our time is. Reminds me of a quote from a movie .. goes something like this "Remember this moment this moment is your life" and 'don't waste my time I am dying"

Anyway.. I will help coordinate services and hope to speak but up to the kids who I do not know well (they always lived out of state. never met)

Anyway it is time to set NEW GOALS. Those who know me know I set a 5 year goal just about 5 years ago. I met and exceeded that goal. financially at least. I did not really set 'non financial goals'. This time around I want to set financial and non financial goals. I will use this group and others as sounding boards. I will change my headline too. Current headline is '5 years to freedom'. I am thinking I achieved monetary freedom but do not feel comfortable using it and really I just paid taxes this month so want to 'test it'.

Currently thinking to include the following categories: financial, health, personal relationship, family, spiritual, career too. We will see how it breaks down when I actually set them.I will set 5 year goals at a high level then break them down to maybe 3-6 months.. easier to achieve and see progress

I have gotten a lot of support, feedback and motivation from this group and for that I am grateful

oh.I GOT APPROVED FOR THE LOAN and can hold both my current and new house short term!! Unless something major happens.. (the house not selling at all ever??) my new house is a GO. Israel.. Sept 28-Oct 12.. Close on new house Oct 17.I will hold both for 2 months (hopefully through mid Dec to allow for fix up) and then move in. Holding both loans is NET less then moving stuff into storage and finding someplace to live and less stressful.

Excited to set new goals.

Rachael

2 flat cash flow analysis-prior to poss sale

September 8th, 2018 at 08:27 am

Hi all

Lookings like I can list the 2 flat around $134900.. sell between $125-130. I owe $11800 on it.

These are the #s (attached)

It will need a new roof at some point and it was a nightmare to fix up. I do not think I want it anymore and would prefer to invest the cash.



Below is my rental budget WITHOUT the 2 flat. With the 2 flat it goes up approx $1000



Back with lots of updates

September 3rd, 2018 at 10:00 am

Hi all

Some updates over the past few months. overall things are up and down.. still stressful.

1. Work. I am still at that company that wants me to work downtown. Since my last post they have been saying. "we will just work downtown through June", then thru July, then August and now it appears never ending. I am required to be onsite Tues-Wed and stay overnight. I really dislike 'traveling every week, packing up, staying over, working late'. I was only passively looking but I did apply for and interview somewhere else. I did really well but did not get the job. My Israel trip is Sept 28 so will stop really looking until after that. Company hired 12 other full timers since last post and I am the only contractor. I continue to have nothing to do, no official role, and feel my job is not stable and is at risk. The word is that the company is going back to the full timer model (vs contractor). I did switch to W2 so I could maybe find another house
2. I signed a contract on a house.. $433k. My house is expected to sell around $530k and is on the market as of Saturday. Close date Oct 17. I should find out this week if I can hold both homes at the same time (short term). The new house is in downtown Naperville (which I prefer better than my outside of downtown subdivision). It is older and needs some work but is selling at a price point of $182/sq foot. Average is $238/sw foot and based on my estimates and quotes I can raise the value easily to $238 or more like $250k. the improvements I have in mind are likely to bring it to $600k+ based on comps.

I am nervous about this house as I do not have the loan locked down yet (expect approval Tuesday though) and those who have read me a while knwo that my last loan attempt fell through at the last minute. I have until Sept 25 to secure loan approval and expect news Tuesday. If I can not hold both loans for a short while I may be in trouble trying to sell fast enough to do a dual close and may back out of the contract.

Really need prayers.

The reason I signed a contract on a house was because I really do not want to live here anymore, I have nothing in common w anyone, for some reason I live by all sorts of dogs who bark all the time and I want to lower my monthly payment and get unstuck. I have wanted to sell and move for a while.. a LOOONG while but never got the courage up and homes were too expensive. To find a $433k house in the heart of downtown Naperville with almost 2500 sq feet, large kitchen, good floor plan,basement w high ceilings that can be finished, and large rooms is an amazing find. AND the ability to get my money out immediately if need be.

I did not sign up for school as I can not really concentrate on school w the work situation and will be out of town part of the quarter w Israel.

I will likely restart school after the new year.

Rentals. I am thinking of sellign that new 2 flat. I will talk to realtors and my property manager Tuesday. I should net $100k

I pay all taxes today. This is my last big milestone. I have not really pulled much from the rentals as I have been 'catching up' on the tax escrow.

I put down $10k on the new house (from my personal emergency fund). I was able to pay that back in full from the rental proceeds this month which to me is huge.

After I close on this new house, do the 'bulk' of the work I want to do on it I want to re-evaluate jobs and what I want to do. Right now I need to keep this high dollar job for the loan.

I will update on the loan and house situation as it develops

I reached the end of my 5 year plan and need to set NEW goals..and a new plan