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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

3 units paid off-5 years coming!

April 2nd, 2018 at 06:02 pm

Hi all

3 units paid off today. Title transfer this week. WOW! 5 years coming

For those new to my blog, I had set a crazy 5 year plan that I stuck to and I am 2-3 months from finishing it. Wow

Got some one who looks good for the 2 unit. hoping to fill the downstairs shortly and then will work on upstairs.

Rents are exactly as expected and got a 4 year inspection certificate on it.

Busy day with homework

Just sharing. WOW! It is coming together.

I will use what I will get from Dad to payoff the '2 flat fix up debt' by the way and decide the fate of the 2 flat once it is all filled. Getting a 4 year certificate is pretty big..means 4-5 years with no inspections.. and if we get good renters and this property mgmt company seems to do that with MUCH more frequency than the last one I can make some good money on this property.

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


I got a raise, though small one

December 8th, 2017 at 11:28 am

Hi all

I asked for a $5 hour raise. I got $2. That is 3.5%. That is still good considering the work at home and autonomy I have and potential for extra hours (there now may be potential next year)

Still plugging away at the 2 flat (bad topic), school (last week of school. grades should be out late next week) and winding up various goals for the year and getting organized and setting goals for 2018

Time goes by fast.

I feel positive that Patient Saver is almost at $1MM..it makes me feel encouraged. I am at about $330k investment assets so a ways to go but will be able to save more next year and onward.

I DO plan to work all next year..and may switch to a job that is work at the office. I am tired of work at home and have less social life than I would like. I may put out feelers at the end of this contract term (June 2018) and find something else to complete the year. We will see.

I need 48 hours to graduate from Moody. If I continue full time which I will I will have earned 18 of those by June next year... so over a a third of the way through. That makes me think I need a flexible job to go to school downtown. ..maybe no job change afterall.

We will see..


Asking for rate increase today and other thoughts

December 5th, 2017 at 08:06 am

Hi all

I am asking for a rate increase today. I am asking before I sign my renewal paperwork

Rate for my work has gone up (they went down in 2008-2009 but since resurged)

In 2009ish I was making $60-62 hour

I took off 5 years and returned to work at $55 (8/2012) but for a work at home job. Now I make $57/hr

Rates for my skill set are more like $65-70 but some involve going downtown or driving further than I would like. You do not get that rate with a lot of work at home. I no longer really need or want work at home but would like 'work nearby'

I am asking for $62/hr .. so a $5/hr increase. My company asked me for bullets etc so hoping to hear something in the next few days and at least they are considering it

Getting an increase even to $60 would be great but would be awesome to go to $62/hr

Fingers crossed and going to say a prayer now. I just sent out my bulletted list.

The two flat is still a bit of a downer just want it done!!!


Got renewed at work and other 2 flat news

December 1st, 2017 at 08:27 am

Hi all

Few updates

Got renewed at work.. cap of 44 hours.. renewal is through 6/28/18. I am assigned to a program where I am not in charge so significantly less stressful (but much less challenging and fun).. I am on this program through at least March. The client I was on wants me back and may be funding a small project starting next year that may involve overtime hours

I am down to owing approx $30k LEFT for 2 flat fix up.. I had to switch contractors.. more delays. .. I will see the two flat tomorrow and hopefully there is large progress. I had to terminate w the last guy in the middle of the job. I am now trying to work out payment w him for what was done. stressful. just want this 2 flat completed

I have made LOADs of progress in paying things off but paying off $30k may extend to April as I have to reinstitute my tax escrow as of February. I am currently not escrowing for rental taxes to allow me to pay off this debt. When I restart the escrow the amount will be $1300 more than it would have been had I started escrowing in September but I can still pay it based on average rents.

Estimates rents at the 2 flats are $950 each. we will be renting at a bad time though but the units will be all fixed up. Whatever I get will be helpful towards paying off the debt

I have 4 more payments to make to pay off the 3 units by the way. payoff is late March. almost there!

I will start setting new goals for next year and wrapping up this year shortly.

I am totally missing my investment goals as you can see from the side board. I have made no deposits since June which was when I got this 2 flat.

Reimbursed emergency fund, getting back on track

November 19th, 2017 at 08:04 am

Short post here. But I finally got the rental emergency fund back up to $18k. Everything from now on goes towards: 2 flat payoff (fix up and payoff) and 3 unit mortgage which is paid off in March 2018

Work has capped my hours firmly now at 40 hours a week.. I will ask for renewal the week after Thanksgiving.

Lots of drama on the 2 flat (still not done) had to switch contractors again mid way through

Learning lots but definately ready to move on from it or get it rented

Working on tightening up the rentals even further

and finishing up week 5 of school and about to enter week 6

I am taking core courses in 8 weeks 'sprints' vs full semesters. VERY challenging.. but learning which is fun.. My next two are Old Testament and Spiritual Formation and Discipleship. They start in January


I want to put more $ towards investments and do better with investments. All these people are making a killing off of bitcoin. I want to learn more about that and put my $ in the 3 fund vanguard model but then reserve some $ for higher risk investments as I go along.

Currently all focus is getting out of debt

I will put my 2 flat fix up debt on the left once it is totally fixed up and I have all #s. Currently forecasting approx $35k left to pay off (of incurred and not yet incurred costs. I am utilizing a 0% card for $6k and the rest is on the equity line of credit)

It bothers me I am not saving and putting more towards that..

and I will have to figure how I can fund the 401k next year. I was doing 40% last year to knock it off in 6 months but this year being capped at 40 hours and having all this debt it will have to be slower

I am thinking of worknig through the end of next year before considering any changes though.. not sure..

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..


updates on 2 flat, school, rentals and me

October 27th, 2017 at 12:08 pm

Hi all

Just a quick update

IF the rentals were paid off (they are not.. but 5 months barring no issues they will be) I can expect to pull some $7000+ a month from them. I am straining for that day

the 2 flat purchase was a mistake and I am seeing the consequences of that every day.I really just want it to end. Electric done and passed. Framing done and passed. Insulation is pending. Contractor has another death in the family. Never know if to believe him or not

Taking Tony Robbins words 'what is good about this (bad situation) that you are not seeing right now.

I certainly have learned a lot. Have gained some contractor contacts, learned about the permit process and inspections. Learned the hard way about what to look for.. just crazy

Anyway I am continuing to plod ahead. Currently forecasting a total fix up cost of $44-45000. May be more. May be less. Just want it done. My hope was to have it finished next week. Now may go into the week after with all these delays. It is what is it and I am going to try to make as much lemonade out of lemons as I can. Bad time to rent but again it is what it is.. just doing the best I an with what I have. Takes a lot of time though and stress. Most time intensive property. Most stress.

Other rentals going well.

I feel very strongly I will sell it in the Spring but we will see. Projected costs puts me at a cap rate of 10.6 right now.

I continue to put all I can towards the current mortgages on the 3 units and this 2 flat property costs

Hoping to fully restore the rental emergency fund this month.

School started last week. I started with 3 courses but dropped one. I am in Intro to Theological Research (hard!) and Hermeneutics (less hard). Both are VERY challenging and LOTS of work. I am struggling to find a routine to fit it all in

Work picked up slightly. I will be billing 50+ hours this week and last

About all for now

Health insurance is likely to go up.I pay $485 now just for me.. $6000 deductible then insurance pays 100%. It appears they may be able to sell some scaled down plans this year for less costs .I am not on meds or have any special needs.. We will see.

Onward but wanting to get off this treadmill of always having to pay something off

End of March and selling this 2 flat can not come soon enough!


Asking for quick thoughts-changing investments

October 9th, 2017 at 09:33 am

hi all

My investments are with an advisor charging 1%. I want to switch them back to save the advisor fee. I am up $19k in taxable investments and 2k in non taxable this year.

To sell everything for taxable would incur approx $4k in taxes. Anyway to avoid this that you see?

I would want to sell the funds that is in to simplify to a 3 fund or target date retirement fund model


After I get all these properties paid off I will be SAVING more. I want to have more investments... up to this point although I have managed to save a lot most of my focus has been on getting these properties paid off and up to speed.

I think I would feel real good if I had $700k... will take some time..

and I am really considering staying at this high dollar job through the end of next year... especially if I can get some hours.

We will see.


Stress testing-Scenario no job past 12/2017

October 6th, 2017 at 08:47 am

Hi all

I work on contract as most folks know. Today I am stress testing my plan if I was NOT renewed and did not find work for 6 months, had no 2 flat rent and 30% vacancy across the rest with no 'other payments' coming in.

Enlightening!! Makes me feel grateful to have a job. I encourage all of you to do a similar exercise.


2 Flat finances

October 5th, 2017 at 07:45 am


I paid $65,000 for the 2 flat
$25,000 from seller financing, 5%, amort/24 months
$40,000 I borrowed from myself from another account

In addition I am estimating incurring approx $40k for fix up.

$40,000 fix up
$4,500 already paid off
$5,500 incurred and not paid on a 0% credit card
$10,000incurred and not paid on a 2.9% equity line
$20,000 NOT incurred yet but estimated to be needed (will go on line of credit)


My plan to pay off involves the following chart and assumptions.

1. defer my $3500+ rental real estate tax escrow until January so I can use that 'escrow money' towards debt. Restart the escrow in Jan at a higher amount
2. assuming $2k/month from rental
3. assuming $1600/month savings from me
4. I get paid $300 a month from my brother
5. $8k tax refund estimate from accountant
6. birthday/christmas money
7. the 3 units pay themselves off March 2018, use that $5k mortgage money towards debt


if I can make this payoff I will have paid off all fix up costs and will only owe $30k total on the 2 flat by June 2018

Assumptions ARE aggressive and assume no further big snafus. They do assume 40 hours per week. I have been pulling regularly $2k from the rentals after costs.

See chart
Please note: chart has me bringing rental real estate fund back up to $18k by year end too

Investing question and 2 flat and other updates

October 4th, 2017 at 01:00 pm


Quick question.

I put my money with an advisor at a 1% rate . This was done last year but 'everyone' knows you can often do better than an advisor when you invest yourself in a few mutual funds. I generally use Vanguard. What mix do you guys suggest for mutual funds. I know there was a recommended 3 mutual fund mix by Bogle a while ago. What have you guys heard? thinking of closing w the advisor and sticking w a 3 fund mix and just thinking long term and leaving it. Also easier to send money in etc to invest more.

I got assigned at work so expect my hours to pick up as of next week. I am still working on the 2 flat .. inspections etc.. so will have to manage that but will be good to make more money

Speaking of inspections I had the final inspector out for his first inspection. I have had plumbing, electric and now building. Building guy was the final and his list was very short 3 easy items.

Still have not found an electrical contractor. 2 guys faded away. one guy hoping for a quote today. will make some more calls.

IF all goes well. electric will finish mid/late next week and then 'all the rest' can start.

Goal is to have it ready to rent by 10/27 or end of month.

Not a great time to rent but it is what it is .

I have considerd selling this but will see how fix up goes. may be 'all fixed up' so why sell? On the other hand I am putting extreme pressure on myself to essentially pay off all 'fix up costs' and the mortgage down to $30k by June 2018 which is essentially $70k at this point. If I sell. even if I only make $20k from my total cost assuming a April/May sale and renting it in the meantime I will have already paid off quite a bit so the sale will give me cash in hand that I can invest.

Current payoff 'plan' has me only owing approx $40k by May which would mean with a NET payoff of let's say $120k I have $80k to stick in investments.

We shall see.

School starts 10/17, I am trying to get syllabuses ahead so I can start early

Intro to Theological research
Old testament

I am back, been living the life of Job lately

September 28th, 2017 at 09:15 am

Hi all

I have wanted to write and update for a while now.

Anyway I am 9 months off from my 5 year goal and I was on relatively easy street w the goal in mind.. clear sailing and them made an ill advised decision, took my eye WAY off the ball, and suddenly it appears everything that can go wrong in several areas of "the plan" is going wrong

Please constructive feedback only. The situation is painful enough as it is and I see no way out but through.

K.. neutral news first

1. I applied for and was accepted to Moody Bible for a Masters in Ministry Leadership.I start in 2 weeks!! scary, exciting.I am getting more involved w the church and that is neat..I sometimes doubt this is what I want to do but then I get excited. I am trying out various jobs at the church and exploring outside of church to see what I want to do.

2. I decided to REFINANCE the house again. I know I just did and it does not appear to be a year that goes by without some crazy restructuring of the loan. Anyway I got a 15 year no cost loan before, against some people advice including some on this forum (Another Reader for one! Smile ).. and on thinking of it and getting closer to the 5 year goal I am thinking there is NO WAY I am going to feel comfortable paying so much for the mortgage and lowering my income. I have a 3.15/15 year loan now.I am approved for a 3.8725 30 loan with NO COSTS at all... even refunding the appraisal cost. This will lower my payment over $800 which I can put towards investing and savings. The rate goes up but I am no longer think of this as a long term house so would prefer to put the $ towards saving and investing. If anyone has thoughts on this I welcome them before I finalize it.

3. Got renewed at work through December but currently waiting for our big account to sign a big contract so have very little work.. and can only bill 40 hours per week..but maybe have 5 hours worth of actual work to do (I am used to 50+ and want to make more $ now. will explain lower). The longer they wait to sign the more at risk I feel.

4. No change in Dad who has Alzheimers.. just slowing down. sleeps most of the time...I see him every week, we will wake him for lunch, eat and then he goes back to sleep.. talks some, smiles some.. we have 4.5 years worth of funds left where he is at which is a great place. He no longer goes out at all. I am POA over everything

5. been dating and met some great guys just not the one. I have been wondering if now is not 'my time' or if I stop looking he will just appear Smile

6. all real estate taxes paid across all homes. rental homes going well.

k. the bad stuff.

I bought that 2 flat.. on contract, $65k. Comps were $115k for a 2 flat next door with tenants in it. Estimate was $20k to fix up including new windows throughout. My post is getting waaay too long. I will sum it up and share more later. Project went WAY SOUTH. My $20k estimate has turned into $40k and is at serious risk of going to $45k. When water was turned on it was discovered a main drain pipe had cracked prior. The resulting water leak caved in the kitchen ceiling and then ripping out the rest of the ceilings and 'built on the wall cabinets' exposed out of date piping and electrical. The city is now involved w permits. Had to do a full repipe of the whole house and now electric may have to be updated through out ( we were just going to update the kitchen. I see inspector at 3pm today). Even at $45k to fix up we are still at 11% cap rate with expected rents but project is WAY MORE than I expected. though I make much less right I am grateful for the time the reduced hours and no work gives me as I have had to meet inspectors, make phone calls, source contractors, vet them etc.

I got a equity line of credit for this (not expecting $45k) but just something to have. It will come in handy.

This puts my goal at risk and to meet my goal I want to have paid off ALL fix up and $25k of the $40k I borrowed from myself to buy this by June 2018. In addition to getting my rental emergency fund back up to $18k. This obviously adversely impacts my savings rate and also puts the completion of the 2 flat in a bad 'rental season' which may impact rents or length of time it takes to rent. Also I want to have the management of all homes crisp and clear.. I am still fine tuning things there but definately going in the right direction with good tenants etc, rents paid etc.

You can see where extra hours would come in handy.

This week and weekend I hope to clarify the last remaining costs.. electric, cabinets and counter top and get an electrical guy and clarify my timeline. My electrical guy who was going to do this walked off TODAY.. this am... at 8am saying he was pulling his name off the permit.



Updates, buying a 2 flat and the 5 year plan.. almost there

June 23rd, 2017 at 07:34 am

Hi all

Some updates

I paid my real estate taxes (first payment) and paid off the 2 flat ($22750). This 2 flat payoff was a $5k discount. To do that I had to cut into my rental emergency fund and that is now down to under $3k. SCARY!

I got renewed at work by the way through 12/29. Good news. It is easier to get renewed at year end or year start so I anticipate being renewed again.

I am working some 78-80 hours a week almost every week due to a rocky implementation. Reminder.. I work for a large financial services company that has 'the banks' as its customer. I help lead the largest account for that company. Crazy hours lately. not the norm.. but these hours will subside but for now are good as I need the money to catch up quickly. I chose to work on contract so I can get paid for every hour of work.

I put an offer in on a 2 flat owned by the head of my property management company. He does not have time to fix it up so is selling to me at discount. However the 2 flat next door just sold for $124k in a few days. He was offering it to me at $65k. Hoping he does not back out. It needs $20k of work .. much of that due to paint, drywall and then all new windows throughout (currently stickered for boarded up windows). I will have news today as to if this deal will go through. Hope it does. Deal is $40k down and seller holds a contract for $25k over 3 years at 5%

Numbers below.

My plan is to get the money from a equity line of credit on a rental property. I have initial approval on this loan but need to submit docs. I will do so thsi weekend. Line is 2.9% for 6 months then 5%.. and starts with only a $50 fee. Crazy good deal!

My 5 year goal ends 6/2018

My plan is to buy this 2 flat (fingers crossed), set a reasonable time frame (4-5 years from now) to get it paid off, keep working this high dollar job through 6/2018. saving as much as I can....My large payments end 3/2018 (3 units payoff). After that pay off happens I will divert funds to investments not house payoff. I also plan to increase the rental fund to $25k by the end of the year.

Any ideas from the group

Have not made a decision on school. but need to make a decision on if I enroll in the Fall or not with in 2 weeks. I will NOT quality for aid.. Moody Bible. Masters in Spiritual Formation and Discipleship. For fun and to get a job in a more helping helping training field in social service or with the church

Paying off the 2 flat

May 11th, 2017 at 03:00 pm

today I pulled out $22750 from the rental emergency fund and tax escrow fund to pay off the 2 flat.

payoff is Monday

First 1/2 of taxes are due 5/31

I will be working next week figuring out how to balance things off and pay this borrowed money back and get taxes paid

Still I got a $5k discount on payoff so worth while

this is also my last check with 40% 401k deduction so future checks will be higher

My goal is to repay back the tax escrow and rental emergency fund this year.. and keep on saving as much as I can and meet all the other obligations

If I just put what I would have paid to the monthly 2 flat payments to paying myself back that is already $9770 approx from now through the end of the year... so my realistic shortfall is approx $12980 that I need to put new cash too.

Just cash short right now especially w taxes due.

I will update after I get rents. Rents have been more and more stable which is wonderful


real estate updates

May 9th, 2017 at 07:18 am

Hi all

Real estate updates

2 flat seller and I agreed on a payoff due 5/15 of $22750. This is a $5k discount and means EVERYTHING is paid off by March 2018. I am taking this money from the emergency fund and will pay it back to that. also scraping it up from other sources

The house I put a bid on.. the bid was not accepted and it was sold to someone else. Frown

My last 401k contribution comes out this paycheck on the 15th. after that I should have a big bump in take home pay.. especially with extra hours

My contract is up 6/30 and I am trying to get it renewed. talks are in the works. nothign guaranteed. I expect to have word in 2 weeks. a little nervous but I think I will be renewed.


More news! crazy month

May 3rd, 2017 at 06:57 am

More news

The 2 flat owner is looking to see if I can pay off now at a discount. I currently owe her $26k and am scheduled to pay it off per the contract April 2019 but was going to pay it off early in June 2018 (she does not know that)

Hoping she comes back with a good figure and if so and I can raise the money I will pay her off early and then my total payoff ends 3/2018!! (with only the 3 units left)

It would be exciting to start 'winding up' my 5 year goals.

How much do you think the discount has to be to make sense for me to pay her off early?

No news on my offer yet! Hoping for good news today.


May be buying another house

April 30th, 2017 at 07:10 pm

HI all

My manager found a potential deal of a house he used to manage for past 5 years. Already rented for $950. Sold for tax deeds. Tax buyer is trying to get $30k just to get rid of it. House is solid may need new roof on back 'overhang' and can update the bath after tenant moves out as needed. Hardwood, 8 year old roof, newer water heater and furnace. 960 square feet. He figures it is worth more like $60-65k. He was just in it last week.

I am putting an offer on it tomorrow am

Below is my sheet where I figured out potential costs and put the price at $40k to accomodate any fix up and if price goes up. The .1671 represents a cap rate of 16.71. $900 represents rent. $567 represents potential net profit per month.


Updates, rentals, job, 401k, savings, school, and Dad

April 27th, 2017 at 01:29 pm

Hi all

Quick update. Been busy. Still have not done my tax speadsheet. It WILL be done this weekned and then I should have a refund in a few weeks. I have my taxes done by an accountant

This year he is doing Dad, the last year of the not for profit and ME.


As you recall my work contract is up 6/30. I am already making inquiries at work and pushing to get that extended another 6 months. There IS work but I was transferred under another VP and the work is under the VP I was with before. Things are in the works. I DO feel I will be extended but not certain. I need to be extended or find a job asap to not risk the 5 year plan. I average 60 hour weeks now but it is not as hard as it sounds as I can work at home 3 days a week. Every hour is paid which is great

I will be finished w contributing for the year after the 5/15 paycheck. I had a 80 hour week and put in 50% of that check. I am currently putting in 40% of my salary. After the 401k deduction drops off I will continue to live on this '60% amount and put the rest in savings/investments. I rushed the 401k contribution so I got it all in before my contract was up


Homes are plugging along. No big issues. I do have 2 long term homes turning over . one should be ready in a week. The other will vacate the end of May. I think they will rent fast. Others doing well. I DO have city inspections this year on the 2 flat and 3 units which will cost a few thousand each and may put in new windows on the 3 units.I am at $18k for the rental emergency fund (have not paid for windows if I do them). My goal is to have that at $25k by year end


Still at Silverado. 77 now. We have approx $400k left which is 5 years worth of funds. Dad is doing 'well' but Silverado predicts less than 2 years left. Hard to tell..Dad is not talking to much nowadays and needs help dressing, showering etc.


I want to go back to school for a masters. never mentioned this before. I want to go into more of a social services, healing teaching training or church field when I am 'financially free'. I have been looking at a Masters in something Christian related. I have looked at a few schools etc and currently thinking I am leaning towards Moody Bible. Masters in Spiritual Formation and Discipleship. If I get renewed I will start this in the Fall. They have a Timothy scholarship which works that if your church pays 1/3,. Moody kicks in 1/3 and you only have to pay 1/3. They also have limited merit based scholarships. Still working out money and switched churches so have not been that involved yet to ask them to put in 1/3

I am almost at the end of my 5 year plan
I am at risk of falling short on my home payoff and on the $475k total investments but doing all I can do to get there and have slightly over a year left

In terms of the property payoff... I will owe less than $40k across ALL by 1/2018. 3 units payoff will be done 3/2018 and the 2 unit pays off 6/2018


Tiring road but I think I see the end coming

I had a 'post apocolyptic dream' last night and looked up what it meant. apparently it means the end of a something and beginning of somethign new. it is seen as a GOOD sign

Maybe I will pay off these crazy properties, start in a new field, get my masters and meet someone and fall in love!!

thanks everyone for the support

Quick notes-health insurance, savings, rentals

February 23rd, 2017 at 08:06 am

Hi all

Quick notes

Not sure about others but I am single 46 and in good health and pay $498 a month for health insurance thru the exchange. that comes with a $6000 deductible which this year I have to pay for a knee injury. That is A LOT of money. I am hoping and betting insurance will improve and costs will go down

Many friends are in the same boat or worse

Anyway.. I put $1800 towards my rental emergency fund this month. My goal is to have that built up to $25k. The rentals if no big unforeseen expenses should give me approx $2k extra each month or more which will go the the rental emergency fund for these next few months to get that to $25k and then will go towards accelerating even further the payoff

I also am saving 25% towards the 401k and $1200 outside of that per month from salary etc

Really trying to beef up savings

I am looking at cutting costs and adding whatever I cut to savings

I have 12 months until my 3 unit (over $5000) monthly payment drops off.. so just hanging in there. 3 months after that the 2 flat payment drops off.

Work still going well. and feeling better and 'looser' and mmore positive

I will set aside time today to get the final #s on the rentals from last year but this months Net was better than ever.. so despite the tight situation now I think I am on the right track with this new property manager and with the properties as a whole. Things are artificially tight as I am insisting on the 25% 401k and I 'pay myself first' the $1200+ to savings every month and then 'make do' on the rest..

I will update true rental net from last year after I have final figures. For the past 4 years I have put quite a bit into acquiring and fixing up the rentals to a solid state.. hoping that dramatically drops off and I think it will

Tax time, goals and sharing the 'Homes budget'

January 31st, 2017 at 04:17 pm

Hi all

Today is tax day for me. I am figuring out and gathering all my tax documents for me and the rentals

i also need to gather the not for profit tax info

I lost $28k gross income to my bottom line by closing the not for profit

This 5 year journey has been a wild one.my first 2-3 years were very tight. I had a good year last year and now I am Very tight again

I updated my financial goals to the left there for 2017. Those are highlevel goals. I will track monthly and set some mini goals to get to those larger goals

I continue to be off track (per my 5 year goal) towards my personal residence payoff with no clear ideas or plan on the horizon to make that up

I am also short with investments (primarily because I bought more homes) with no clear plan on the horizon to make that up

I want to formulate clear plans to make those gaps up and I really want to put together a plan to make $1000/month more income by March 1

I am putting in 25% my 401k now through the end of June. it makes things pretty tight but my contract only goes through the end of June.

Anyway I am sharing the homes budget for next year. Vacancy, maintenance is estimated based on #s from prior years and then rounded UP. Net assumes homes are paid off. They are not paid off yet. Payoffs start March 2018. . My payments exceed $7500 a month right now. I DO plan to use any extra net from the homes this year to build up the 'rental emergency fund' so not drawing anything from the rentals yet and hoping for no large expenses. I am not planning on any improvements this year

Budget attached. Red means rent is Section 8.

I will be posting more this next few days as I get caught up

Updates, homes, Me, Dad, finances, LIFE

November 11th, 2016 at 05:39 am

HI all

Still struggling a bit here as I am sure my absence shows.. but even struggling I have been keeping busy which is good and helpful

I just turned 46 (october 15). Happy Birthday to me. Feeling a bit like I am going through a midlife crisis, learning curve with this break up and feeling I should have just broken things off YEARS ago. feel sortof bad about that but actually I decided to go to counseling and fix whatever it was that let me let it go on so long (look at prior posts obviously to catch up) but I was looking for a long term committed relationship and basically glommed (is that a word?) to someone who did not fit my criteria, was somewhat abusive and just not a good match and then sortof road it down to its death vs just leaving myself with my head held high

Worse than that I went to church last week and guess who is there?! this ex! I am church shopping (pastor left our church and a # of people left ) but was just going back to try it out again. I am thinking I will talk to the few remaining friends who are there. sit with them and see if I want to go back there or other churches I am looking into

I need a church home!

Anyway (onward)

I stayed busy which was good

Still believe Dr Amen visit and brain scan was the one of the best thing I ever did. very well worth it

Bought 2 homes, fixed them up and they both rent this week.. Minimal savings these past few months.

No more buying homes after this . I feel very out of money and short

I also made the momentous long time coming decision to turn over my rescue (largest cat rescue in Dupage!) to another larger rescue/shelter. They will keep the name, the paid staff, the cats and want to LEARN From us, our systems, policies etc.. and they will take any returns. Thsi is a large dog group trying to expand into cats. All volunteers are saying they will stay. Sad, scary, exciting I am SO HAPPY they will keep the name even short term so I can see what I built live on. Transition date is 11/20. I use the word transition the rescue vs Close as they are keeping it open as is but I will close down my 501c3 etc.. turnover all assets etc

I actually got income from this and it paid for some items so financially that $ is going away..e

I am actually feeling very short lately losing the rescue, obviously buying these homes and losing other income..

My goals I want to reach are building my personal emergency fund to $15k and building my rental fund to $30k

Can not be more impressed with my rental management company.. another one of my great decisions.. lower csts, homes rented faster, increased rents each year, lower stress

Lost 10-12# and look great..been working out and eating well (except these last 2 weeks when I was thrown for a loop by seeing the ex at church)..wearing size 6-8 and feels good to do so..

Also making friends, girlfriends.. ( I was isolating w this guy).. anyway making friends having my own interests is nice and also on match.com and meeting people. no matches yet but helping me crystallize what I want and determined never again to invest in time wasters! I am worth more and need to act like it.

Oh refinanced the house to a 15 year loan, 3.15 rate
My payment went down slightly from what it was before and truly no cost which was nice.

Work is 'ok.. just got removed from my lead role.. new administration sortof came in, took over ownership of this big program I was running and wanted their guy put in .I am still very involved just am not as responsible for its success. sortof a deflation but talking to people it is less stress. people still respect me turn to me and I am paid the same and can still work extra hours.

Working 50 hours a week still but not hard (esp now) and it is good income. Contract goes through end of year, project goes through June. (as of now) I expect to be extended thru June and will look for other projects after that. I am pretty valuable there so I am sure I can find something. still wanting to work at this company for 1.5 more years..

I will set up my 401k again next year to fully fund in 6 months

I may look into other FUN income opportunities (dog, cat behavior consulting. I used to do that. still get calls) to make up some loss from the rescue to keep my momentum going..trying to make up $2k but my main goal is to have FUN and get balance back in my life. no more treadmill of work.

Also investigating and having fun with thinking about what I will do AFTER June 2018 when the homes etc are paid off. I CAN take a lower paying job, do what I want and I want to explore that now. been looking at maybe going back to school for a Masters in Theology or Biblical Studies. not sure. just looking at stuff

I will have options if I run this right

Dad is still hanging in there but the best metaphor I can give is like when a top is spun it gets erratic towards the end before it falls down. that is sortof how Dad is.. signficant issues with balance, uncontrolled movements, sleeps ALOT, just feels he is winding down. SO HAPPY he is at Silverado and I see him every week. He does recognize me etc but does not talk much, more responds and watches. still walking well (very fast erratic walk)

I am happy for the blessings I have and hope to continue to be blessed.

have fun guys!

Bank holiday today which is why I can write a big post (I work for the worlds largest banking services and solutions provider so when banks are off we sloooow down at work!)


Got featured in a nationwide blog (link) and other updates!

August 30th, 2016 at 11:20 am

Hi all

Got featured in a nationwide blog. link here..


The blog owner editted somewhat. I am not a MULTI millionaire but probably sounded better in the blog..

I am doing ok. the guy who moved out never called me. sad, hurt, upsetting but moving on. Making new friends, joined hte Y doing aqua aerobics. LOVE it.. being more active. doing redecorating w the house. and extending my fence. I am doing some feng shui changes. house looks fantastic.. lost 10 pounds without really trying. MUCH less stressed.. stil doing my Dr Amen supplmements and just signed up on match.com but definately have a clearer idea of what I want and boundaries and not letting my life shrink when I meet the next guy. I still think this guy will call. very sad shocking the entire situation but it did force me to look at the negative aspects and I was not really happy and it was not going anywhere on the current trajectory..just sad..I have grown alot maybe he has too but MOVING FORWARD and not waiting.. no luck on Match yet but on 'day 2' so not been on that long.

refinancing the house to a 15 year term. slightly lower payment even with NO COSTS.. rate is 3.625 with this no cost option...I pay almost 6 now on a 5/1 arm.. so sortof win win. appraisal next week then we submit. mortgage guy has initial approvals so hopefully it passes the underwriter. he feels confident.

We are getting rid of the last of the tenants my old Property manager put in. she is currently not paying rent (so no rent for August from her but took her security) and she is hiding from service. but next door neighbor says she talked to her and she is moving by the first.. so we will check the 1st and change locks if moved out. hoping that is the case

She lived there for about a year and place looked awesome when she moved in.. hoping for minimal work

outside of that the homes, units are plugging along. Basically after I make Sept payments I have 18 months left until the 3 units are paid off. that is my highest payment of almost $6k a month. what a relief and then 2 months after that the 2 flat will be paid off.. currently tracking to an average of $8k a month once paid off.

work still going well . very well . adding more resources. I am setting boundaries. having more ME time and fun time and it feels great..

and a MILESTONE. I have made the SAME AMOUNT (actually slightly more)as of TODAY as I did ALL YEAR last year from the rentals. so now all net profit from this day forward is MORE than I did last year. So trying to beat last year by $30k plus even with repairs

Fingers crossed

Things are coming together. jsut miss the male companionship and still feel hurt, sad, upset from the crazy situation with the last guy..


Best rental month so far

July 19th, 2016 at 06:19 pm


These are the much anticipated #s (at least by me)

MY NET this month (after taxes, insurance, repairs, utilities, lawn care) is..$10274.45!!!

It is really true. told you it was unbelievable. Crazy numbers

Again i do not pull from the homes at all right now. All that went towards mortgages, repaying back the emergency fund (done!! and adding to it towards my goal of a $25k emergency fund.

I do not have any renewals until I think October and everyone seems pretty happy so hoping to stay at similar heights the next 3 months.. 3 months at least.. more if we have no turn over and just renter renewals.

Also this month was a LOW repair month but WOW

My budgetted forecast is $8000 (taking into account a 5% vacancy forecast and approx $800 per month in repairs).. obviously this month I did not have any of those costs

Still working excessive hours and just got back from Wisconsin (work day trip) so going to walk on my treadmill and go to bed.. but WOW!!!

No word at ALL from that guy.. crazy. hard to understand just sortof walking out.. no communication at all.It still makes me feel very sad and often down. i am still investigating groups, activities and looking to make new friends. Last weekend did not go to church (had a delivery) this week will go to church and hopefully get back involved w that

feel SO MUCH healthier and alive w these Dr Amen supplments.

AMAZING change

I got a coupon for a reduced cost dental exam and xrays..$65.. I have always had good teeth so never really went to the dentist (I am 45, had not been since I was a kid). i went and the person said I had 'moderate bone loss' so recommended some 'deep cleaning' where they numb your mouth and do a scrape and polish or something,. I do not have dental insurance . their cash charge was $800 for all. Crazy. I thought about calling around for prices before having it done (my friend works at a dental office) but I was THERE and motivated to get it over with so I put the entire thing on my card (to be paid off next month no interest)N but had NO IDEA dental work cost so much. apparently though (they did the entire mouth in one sitting, apparently the norm is a few sittings.. I asked to just get it over with) but apparently if I take care of my teeth which I will I will not have to have that serious cleaning done again.. just maintenance cleanings

I am trying to get a hold of my friend to get her opinion on the cost of the procedure and good dental practices.. etc

it feels good to take care of myself!

Lots of updates, me and personal and financial doings

July 14th, 2016 at 05:35 pm

Hi all

I will do a separate post on Dr Amen and my brain scan but in short I was VERY IMPRESSED< AMAZED, SHOCKED and I think doing that test will be life changing. you can actually peer into the brain and figure out why you are the eway you are in some respects, personality wise, mental agility wise, very informative. I got some supplements from the clinic.. and immediately (like THAT DAY felt much better.. shockingly so).. more on that later. I did NOT have early signs or any signs of alzheimers. Whew!

Other news. I still have not heard from that guy. very sad.. lonely .. downer. angry. sad.. upset.. stressed.. (less so w taking care of me and my brain) but really a downer. I want to find and have a good relationship.

In the meantime it really brings up how little social activity I have. I had said that before.. but with him goone. wow! I am joining back up in church, went out to the movies w girlfriends (first in a long time) last weekend, joined some meetups and am considering taking some classes. I also want to go to work and see if I can work there and if people are there. Currently I work at home all the time which adds stress to home and makes me feel stir crazy.. I left working at work in part because EVVERYONE worked at home so I would come in but turn on and off the lights and sit in a huge room alone. Hopefuly more people work there now I miss work friends. church friends etc.. My boyfriend and I did not attend church regularly. Conflict w that.. or disinterest on his part and I let it slide. another thing

I REALLY like going to church.. leading small groups. being involved etc.

Anyway..my main goal right now is to work on ME, my health , my brain health, stress level and level of social engagement.. ie build my own life before I find someone else and then not drop it.

I DO feel stronger with my personal situation but shocking that to have no contact at all. makes me feel stupid and undesirable

Anyway.. I am swamped at work so I asked for HELP to lower my stress level. I do not need 60 hours a week I want a LIFE too.

On the financial side

$450 left to fund the 401k in full for the year. It will fund tomorrow
Renewal at work for next year seems very likely
19 months to go to pay off the 3 units and and then 2 months after that the 2 flat will be paid off which will be everything! (except my personal house)
Networth OVER $1MM but w only $253k in investments. the rest in real estate
Biggest month so far in real estate coming up (or so I think) #s come out this weekend and I will report.. too good to share ahead of time

I looked into Mutual Fund Store adviser services, spoke w someone for a free report etc etc, then decided to go w them then half way through filling out forms I had doubts. so 1-2 weeks go by and I thought I had to fill out ALL the forms for this to start but turns out only key forms are needed so $50k was withdrawn from Vanguard and put w the Mutual Fund store at Schwab. Withdrawal happened to come at a high point and then was invested back at a low point so I made a quick $3k. Fee is 1.5%. I decided since it was already moved I will leave it there for 3-6 months and evaluate. I do like the Bogle Heads model so will do the rest like that.

I am busy cleaning up and doing deferred items around the house. This guy was ultra handy so intimidating to have to do things myself but so far doing and proud of it. and some items like 'yard work' are fun for me

I want to lose 20lbs and was going to go on a dating site..dating site in a few weeks . I want to build my independent life first

Considering taking courses.. yoga or something fun. .not sure if that is fun but just trying things out

If all works well (STILL have not worked out how to get out from under this personal home mortgage) but if all other stuff works well I will have replaced my income (actaully with MORE than I net now) at this high paying job in full by 4/2018 and will have options for what I want to do

I am raising my personal emergency fund to 5 months costs this month
I am raising my rental emergency fund to $25k by year end (that is my goal)

I really want a social physical job. giving tours outside or something or teaching stuff I enjoy sounds really exciting

We shall see.


Feeling like progress is starting to speed up-Exciting

June 17th, 2016 at 06:38 am

HI all

Really amazing.. highest net income month so far!
Filled that one vacant house
The other unit is filled (with guy moving in the 1st). we decided to wait for this guy as he is real good vs filling it sooner with other folks.. it is only 2 more weeks.

My total repairs (per the management company) so far for this year are approximately $5000 across EVERTHING!!

however I paid for $24500 in long term improvements and then that one house turnover. so 'repair, improvement' costs I paid for are approximately $27000

But I definately feel and SEE I got something for my $27k and the homes are improved because of it

In contract (cringing) with the old management company I was charged $27k (for the whole year) but for various misc repairs that never seemed to add up and if I were to look at the homes at the end of last year they did not look like they had that money spent on them at all

Feeling VERY good with this new management company. LOVE the reports.. love how tenants respect them and fall into line. love how things are handled

I am still on track to NET $60k this year even with my $27k improvements..This NET is assuming the homes were paid off with no mortgage... I have 21 months to go .. but tracking now gives me an idea of where I will be. AND that $24k improvement stuff I did this year. I do not have to do that again for a LONG LONG TIME.. if at all really..

Other good news..

I am renewed through year end..

I am also at $998,500 net worth. I will announce when I cross that $1mm mark.. most is still home value but savings/investments up to $247k and climbing.. still trying to hit $310k by year end

I will have completed the 401k contributions after my next two checks. that was taking 25% of my check. After that I will put that money towards savings . investments

Feeling I am starting to turn the corner!

Thanks all for the support and gentle feedback (haha) during the earlier times.


Filled the house and more updates

June 10th, 2016 at 07:59 am

hi there

I filled that house w the Section 8 lady.. she moves in today. other homes are stable. I still have not filled that apartment.., we are on the 3rd app though. First two did not screen well. Hoping for good news today. We are still showing and getting lots of action

40 days of vacancy from that house (over half of that spent fixing up the house though)
10 days of vacancy on this apartment so far

I saw someone else tracking DAYS of vacancy per units so I wil do that myself. good way to track and you can only improve what you track.

Last year under the other property manager it seems like I had months of vacancy (well I did at least on that one house) . I will look back through leases etc to figure out last years days of vacancy..

I still owe $5k back to my emergency fund so hoping to get htat paid off in these next 2 months.. and then I need to build that I think to $25k so I feel more secure having money flow in and out of it.. This time i had to use almost all of it to pay for some items but did not feel comfortable doing so so put in cash of my own

I can do that while I work and makes so much. in the future I do not want to do that

My goal is to save $4500 this month and put that into investments and then starting August to save $6k plus into investments each month

My net worth now is $991k ($9k down from 1MM) but most of that is real estate. I want more investment and cash net worth

Goal this year was $310k total investment/cash net worth (not including rental emergency and other funds). I am at $239k so an incredible $70k to go into essentially 6 months.. a stretch goal..

Investing questions and 'financial freedom date' thoughts

June 2nd, 2016 at 08:27 am

hi all

I was thinking of doing the 3 stock portfolio plan from Bogleheads with my money and just sticking to that with the majority of investing and then using a 'smaller amount' which is undefined yet to try other investments out or pursue other (Stock) investments. What do you guys do?

and thinking on 'financial freedom'.If no big hiccups I should have all these properties paid off by June 2018.. but realistically w this big house mortgage (currently $300k) I will not feel 'financially free'.. even if I reach my goal of $450k investing too. I need to do something about this mortgage. I also am thinking I need a year w this new property management company to feel good too. I also need to have a 'passionate goal or plan' and really do not have that (yet). My goal is to pay off all these properties and get the cash flow but then what

Working on all the above.. just posting..

Currently no plans to move from where I live now but just doing a quick check reveals several homes which are on the bike path (in other neighboring towns) with large lots, older homes with hardwood floors etc.. which I like and are less $$ than the house I live in now.. One even had a coach house which would be sortof fun and I would love to be on the bike path or nearer to downtown. The hsoue I have now ... though near the downtown of our town is NOT in the downtown and again the people are less friendly..

Got that unit approved for Section 8

May 31st, 2016 at 03:29 pm

Hi all

Turned out I got that house approved for Section 8 after having been previously pulled from the program. There were some very minor fixes (new screen door, screw on circuit breaker covers) to be done per the inspector and then the lease will be signed and she will move in. This will likely be another very long term renter which would be great.Target move in is Friday.

No takers on the vacant apartment but that lady is moving out today and it will be truly vacant tomorrow. We have an application pending and several more showings set up so it should rent soon. Hoping the existing application works out. Apparently the unit is in very good shape and should need no major or minor fix up . just a little cleaning.

We have one other guy in the 3 units whose lease ended 4/30 but he said he wanted to stay and sign a 6 month lease. We said either sign a year or move out and gave him 2 months to decide and during that 2 months he can pay $50 more. We will force the issue this month and either get him on a 9 month or longer lease or get him moved out so we can rent to someone else. I do not want to sign a 6 month lease that ends in December.

and then no other renewals until September and no large work needed.. so hoping to pile on the cash flow. I suspect that many of the 'later lease endings' will renew too.

All real estate tax 1st payments made

I have about $4k more to 'pay back' the rental emergency fund. I will let the rents pay the rest of that back and estimate that happening in 3 months so my savings will continue in earnest starting next paycheck. My savings comes from my W2 income. All rental monies stay in the LLC at this point.


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