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Interview news and loan update but no approval yet

November 8th, 2014 at 07:58 am

Hi all

been quiet here..

Loan STILl in the works

5/1 arm.. they said it was conditionally approved then found out they did not submit the rental information. This income is not included in my stated income but opens up a possible can of worms. Went back for formal approval or submit more docs Friday..so not as firm as I had hoped

Conventional loan. As you recall this had to go through manual underwrite since I had extenuating circumstances AND we are using that new rule. if you BK out of homes you later foreclose on. the date the waiting period starts is the date of the BK discharge. Anyway.. manual underwriter reviewed it and approved it however in just these past few weeks there is some new fannie mae system (an actual software system) that even these loans have to go through and the underwriter has put it through that a few times and it has NOT popped out w an approval. This is such a new system no one is sure why it is not approving it but the underwriting is trying to 'fiddle with it' to make it go through and to find out what is making it not approve.

HOPEFULLY she does not lose patience w this process..and keeps trying

I REALLY need and want this loan

Meanwhile the roof on that one house is on hold while I wait for loan approval

Either one when approved will close fast as we already have the appraisal

Job news.. my phone screen DID go well. I got called in for a face to face which is next Wednesday. I believe they only called 2-3 in so if I can hold my speech together and sound intelligent I have a very good shot.

REALLY want the job .. $65 an hour.. larger well known company.. Oakbrook. (will share name once hired) and they want contract to perm but contract can go at least 18 months.

Meanwhile where I work now... I am now program manager of this big insane program that is out of control that I am taking over from IBM. I got the ok to work more hours and am doing those extra hours mostly at home which takes some of my evenings but mostly weekends. will try to bill 50 hours as long as I am there.. that nets me almost $1600 a month more

Still believe in these homes/3 units but the financial strain this year w the house (whee I live),the missteps w the new property manager for 3 months, rehabbing 2 homes and putting 2 roofs on and other stuff feels really sstressful sometimes. I want things to calm down and I want to enjoy the journey and I want to have regular savings and I guess MORE savings.. I have only $54k savings with $18k of that retirement. Income estimate onnce the homes/3 units are paid off is approx $7k now but I am lagging behind on my savings goals.

I have 5 months 3 years to go on these homes and am feeling more comfortable/safe as i knock out these 'larger maintenance items' and have a property manager that can FILL the homes quickly..but strained. The house and job being in the air is crazy too..I am trying to do more little things for myself and loosen up a bit money wise so I can enjoy the journey..but some months I feel I am just 'making it' or surviving' and not saving.. alot of this is forced because I cut things so close trying to save/cut corners.. that is why I am trying to loosen up. I have a WAYS to go yet and need to 'make it emotionally' there too

Onward and hoping for good loan news next week!! Smile

I earned a free and clear deed!

October 29th, 2014 at 02:30 pm

HI all. I finally paid off enough to earn a free and clear deed to one of the homes in the '6 homes agreement'. I am going to choose the one I fixed up 2 months ago that rents for $1435. I will do paperwork next month or December. If I default and can not recover I still keep all deeds I pulled out so this house is MINE (soon).

I can pull my next home out 2/2016

Homes paid off 4/2018.

3 1/2 years left on the 6 homes agreement. I will breather easier once we are half way there.October 2016.. is the half way point.

No loan news yet
Job interview tomorrow in Oakbrook. Fingers crossed!!

Got overtime, job and rental updates

October 26th, 2014 at 10:04 am

HI all

On a 'high' note. I got approval to work 5 extra hours a week for the next 3 weeks. at the 2 week mark I will see if I can get it extended or increased. I think I only get paid straight time for 'overtime' so if I do 15 hours extra over 3 weeks I can expect to NET $653 more than normal.. will see if I can increase that or make it the norm

1.. Interview next week for a closer to Naperville job
2. Still waiting to hear on that work at home interview I had last weeek (interview was harder than I had thought so although I was 'strong' it was not my best interview. had a very bad cold.. speech was worse etc)...waiting to see if I get called back for a 2nd phone interview (only 3 out of 10 do)
3, and still waiting for first interview on that other work at home job I REALLY want

Praying for a work at home job. feeling swamped and stressed and rushed most of the time w a 3 hour commute each day.. crazy..and need to get more fall/winter work clothes if I keep this job much longer.

Expecting to hear on the loans by mid next week. excited.

I GOT the appraisal from the first bank that the 'bad broker' went too.. ( this is good news.. the broker was holding it 'ransom' for his fee) and had to file a criminal compliant for extortion against the broker. he was threatening to disclose personal information unless I paid him his 2 points even though he did not get the loan. Cops called him and apparently he agreed to stop and told them he would file a civil suit. he has no case. I called the bank and they also said the loan was not approved

Need to increase my rental fund back up and take care of these expenses.. fund is going down to approx $10k an still ahve 1 roof and some other stuff pending.

I DID drive out to those 2 homes that are side by side and was THRILLED w the condition of the homes...with the tenants everything. I will take one of those homes as my first fully paid off deed'.. tenant was talking about wanting to plant a garden etc.

November (how the pay checks work out ) I should be able to save or 'use towards the rental emergency fund' almost 2 full checks $3600 so that should go a long way. determined to save SOMETHNG every month towards my general investment fund.. even if only $100 or less

and have some interest in my cage bank.. will send pix to the person.. try to get $2000-2500 for it and have other stuff to sell too just been SO SWAMPED w this job. What a crazy idea it was to take this (they did say I would have more work at home) but STILL

But at least I have a paycheck and these 2 loans look like they can wrap all costs in the loan which considering the lower rate /amortization will pay that extra portion off in very short order

We shall see

Rambling note..onward. Smile

Main house refinance, turned 44 the 15th, and other misc

October 18th, 2014 at 10:04 am

HI guys.

Got home from Florida w a cold.

Here are the updates.. diarying for now.. hard to get to a plan until this loan comes through.

Main home refinance. i am pursuing two options simultaneously.

5/1 arm 5.6375, 2 points..
15 year CONVENTIONAL..3.675

News on BOTH next week and then proceed to appraisal. Both gave me the 'ok' on prequalification. now going to underwriting. Conventional has to be manually underwritten.

Old loan broker who wants his fee even though he did NOT secure me a loan is literally threatening me via email, text and phone saying he will send out a mass email to my work and contadcts (on my application) that i am not paying him and are in breach of contract. Talked to several people and we are in the process of reporting him.. seems like this guy came unhinged!! Glad did not go through him. Also notifying hte licensing entity and the bank he was trying to go through. he is forging documents etc trying to make it seem 'I was approved'. Attorney recommending calling bank Monday and we will . CRAZY!

Anyway.. PRAYING for the conventional to turn out.. payment would be approx $3100 with taxes and insurance. I pay $2970 now WITHOUT taxes and insurance. Loan would pay for itself in 2 months!! all the rest is gravy

So looks like I will get A loan (somewhre) by the end of the month.. or have it settled..

Had a phone interview last week .. went ok.. panel interview for a work at home job.. hear on if I get called back (another phone interview)next week... other than that all quiet on the job search front..and entering the job dead zone pretty soon here.

Glad I have a job and figuring switching again in the middle of a loan app is not a good idea to so ok w the fact that I have not found one yet but want one soon.

6 homes, 3 units all filled and feeling like they are in better shape now. more confident from having gone though some rough times.. units and homes rent easily and for a good price... they are small and basic so not super expensive to fix up.. will switch 3 units to 6 homes property manager next month.. they really seem like a good long term monthly income source.

Only have til April 2018 to go on the 6 homes payoff . 3 years 6 months... getting those paid off wil be a HUGE relief (and should start netting me $4k a month once paid for. but was planning to put that towards that 3 units which will get those paid off 5/2019). things are tight and risky w the 5 year contract on the 6 homes and early payoff on the 3 units.... not a lot of room for error in these first 5 years at all and I consider myself blessed and fortunate that I have a high paying job and have had no job breaks.. Thank you God.

Auto saving $250 Monday and will try to put another $1000 in there but need to rebuild the rental fund. can not have any risk w the 6 homes..

Still holding on to that missing mortgage payment for the 6 homes and will send that once the settles.

onward. Smile

Still waiting for motorcycle guys $6k which will go directly to the rental homes emergency fund which is about to be depleted by almost 3k for the fix up work on the last vacant home we turned over. But good to get these homes all up to standard shape

Turned 44 the 15th. 6 homes wil be paid off when I hit 47

Main home refinance, approval and misc updates

October 10th, 2014 at 07:14 am

HI all

Got a loan approval on that 5/1 arm, 2 points, 30 year am

Rate is 5.375 (higher than I thought.I took a hit for some things.. 3 foreclosures vs one etc)

Anyway they say they CAN use my existing appraisal and can close by month end if I can get my stuff in Monday ish next week. Broker is refusing to give me the appraisal at this point.. new lender says he has to by law I(if I paid for it which I did )and will call the bank for me if need be to get the appraisal.

Of course the final approval will happen after stuff is submitted but this is positive news

this will reduce my payment to approx $2550 (INCLUDING taxes and insurance). Now I pay $2970 NOT including tax and insurance) so big savings

However I am waiting to hear on the conventional option and expect news on that today or early next week .If conventional IS an option I likely have to wait til March, 2015 (to have a year of payments on the loan I have now)

If conventional is an option I will wait and do that. if it is not I will take this 5 year arm to get me to the time when conventional IS an option but really thinking I can do it now.


Leaving for Florida this weekend w my boyfriend..see his daughter and grandkids

No job news

6 homes going great.

3 units. looking to transfer property management to the 6 homes guy next month. .still evaluating.

I can officially pull a free and clear home out of the 6 homes deal this month.. I will work on that once the loan gets firmed up

Set up an auto savings of $250 each month. .will expand that once home, and job and rentals calm down. I am trying to save $1300 this month total.

Main home refinance-update

October 2nd, 2014 at 07:47 pm

HI all

Main home refinance update.

1. have not heard from that broker after he emailed me that he was doing no more work on my file unless I paid him his fee up front. He was at 6.75 points, 6.375 rate, 5/1 arm

*I decided not to worry about that.. got too much other stuff w Dad and getting a loan, so i have not contacted him since*

1. FHA loan..Looks like I can prove continuity of obligation (title is currently held in an LLC) to do a refinance. House is in a single member LLC w me as the sole member. Also looks 'good' for meeting extenuating circumstances. I am doing a mini-submmittal to get a real underwriters opinion. IF this loan looks good I may be able to wait for this and go straight from my hard money loan to this (need 90% certainty though to wait t hat long and cut it so close)
2. one day out of foreclosure loan (this is the SAME loan that broker #1 was trying to do and then got crazy).. Anyway new larger broker FIRM (not single guy) I submitted a mini application w credit. He is sending it in tomorrow to see if we get a pre approval (he thinks we will).. news next week Wednesday.. estiamted rate less than 5%, 2 points, 5/1 arm. this broker does VOLUME in this kind of loan. they require 12 months PITI in LIQUID funds.. that is going to be a stretch and they may be able to use the appraisal I just had (but the 1st broker is specifically refusing to help me so not sure I can get it from him.. may contct the actual lender agent he was working with. THoughts??)

No job news.. applying for one more but things REALLY slowed down

6 homes going AWESOME.. got an awesome tenant for that vacant house.. costs being contained I am working so much better w the PM. the break (switching property managers) even though it cost me was a good learning experience!

Meanwhile 3 units.. I am looking to see if 6 homes guy want those too.. we just had a tenant vacate a unit and the current PM inspected it (for $40 extra fee) and says the unit looks PERFECT but yet she wants to spend almost $1500 fixing it up for paint, recaulk tub and hang blinds. Unit is 500 sq feet 1 bedroom.. Costs seems insane. I have her for 1 more month so I got a hold of the estimate and am contacting the contractor.. I need to understand if it is so perfect why do we need to spend $1500.. repainting the whole unit seems crazy.. ceilings too.. but I do not know the exact condition... will get more info tomorrow...and the same contractor painted a whole house for $1500 (3x the size) these rent for only $585 .. but I thikn they can go for more. .just riding it out.. do not have a lot of energy to expend on this right now. will call contractor, find out condition, talk to PM, make a decision and get it filled.

I see Dad over the weekend (stroke).. been stressed and swamped

Prayers for good loan news in the next several days and ENERGY and PEACE!!

Loan update, property update, job update

September 18th, 2014 at 06:07 pm

Hi all,

Feeling a little discouraged.. probably because I am SO TIRED and waiting for all these things to finalize

1. jobs. submitted for probably 4-5 more. all in town or nearby. got one phone interview. no word yet on 2nd interview. got turned down on that one job. Job cycle is MUCH SLOWER this time of year.. 4 of the jobs I applied for went on hold.. Crazy!
2. Loan.. on pins and needles waiting for the 'clear to close'..I guess i was expecting it in a day or two after the appraisal. broker says it can take up to 2 weeks and they do purchases first. mine is a refinance.
3. 6 homes. I am looking at that vacant house we are fixing up on Saturday. supposed to be done or almost done.. looking to start showing it next week to rent. rent $1050 up from $1000 but may go down to $1000 dependent on reaction. this is a SLOW season
4. foundation guy (on that same house) appears to have found a solution for the lingering water issues... $1800. down from estimated $5k
5. looking to do at least 1 more roof this year on the '6 hommes'
7. 3 units property manager contract is up 11/1 (and it is w the lady who was managing the 6 homes who I jsut switched from) I am thinking of switching that to this other PM who manages my 6 homes now. I am acting different w him, different expectations, less anxiety and it is really working out great.. plus his contacts are thousands lower for the same or better job..also he is creative and has so many homes he has ads out all the time. he has already referred folks for the house we are fixing up so hoping to fill that asap

Basically my two biggest stressers are the job and the loan not being finalized. the loan is a big stresser as I want to settle and relax in the house and I am holding off on all sorts of things pending the exact numbers on that

Onward.. but resting tonight. Smile

October will mark a year on SA and I am going to do a wrap up time capsule of the year. I am hoping it includes closing this loan!!

Appraisal # is good!! 6 homes updates, and jobs updates

September 10th, 2014 at 04:12 pm

HI all

Appraisal is IN.. $510k. This means I will need to pay approx $13k to close the loan.. with $5100 of that being 'starter escrow funds' so this is money will get back on the next loan or house sale since full escrow is being taken every month too

The new payment is $1111 LESS than what I pay now with the mortgage (and self escrow for taxes and insurance)

I will make up the true costs of the loan in 8 months and the full $13k in 12 months with the rest just being savings. I think it is a good deal and I am locked in for 5 years and it is an arm. In 5 years I can get a normal loan. Rate now is 6.125.

Feeling good. Closing to be set very soon.

However this eats up my ENTIRE emergency fund (need to rebuild that). I am owed $6k from that guy (his bike will sell at some point and he calls every week).. and I have the Tahoe to sell. $23k? maybe I will have money left after paying off the genesis. and have a few more things to sell.. $1000? and once things STABILIZE (w the homes) I can save $1500 a month

Got quotes on the vacant house fix up thru the new property manager.. $2500.. much less than the last fiasco.. I feel good w that.. done by next weekend and then rerent ASAP. I need rent!!

Short term insurance lady moves in tomorrow.

And i need to do that French drain system to ensure that both homes are water free.. $3-5k. dependent on how involved I need.. worth it.

JOBS.. getting more and more calls on jobs. got another interview tomorrow for an AWESOME job in Oakbrook.. 2 year contract, $65/hr and 401k with match in 3 months. FINGERS CROSSED.

No news on first interview.

Onward. This appraisal coming through is a BIG weight off my mind. Can not wait to get the closing date.. hoping for next week.

Looks good for new renter

September 8th, 2014 at 05:02 pm

Hi all.

No word on appraisal or jobs today. submitting to yet more jobs at one certain Naperville company that I will share once I get a job there!

Anyway.. short term renter is signing a 6 month lease at $1435 w it converting to month to month after that. We are hoping for 9 months. we shall see. that is a $510 increase over the last rent which will hopefully offset my costs as of late and let me start to rebuild.

Getting quotes on the now vacant house to get it moving.. goal is to have it fixed up by next weekend and ready to rent

This house needs french drains..guy who was going to do it . his voice mail has been full all day. hope he can stil do it

SUPEr swamped at work and stresed w the insane drive.. had to work 'later' today and drive was incredibly bad!

Praying for a new job (local) soon at same pay.

Onward but TIRED and STRESSED.. need a day off..or just work at home or something.


Appraisal was today, 6 homes updates

September 6th, 2014 at 04:20 pm

HI all

Appraisal was today. hope it went well. lady seems a little like that guy who low balled me before. hoping for $525k. there are not alot of ranch comps in Naperville with large lots etc.. I had my property manager pull comps for me and I gave them to her, with a list of improvements, my old BPO (showing $525) etc.. she will review them. PRAYERS!!

If thsi appraisal comes out right we should only need one and can likely close week after next.

Lady who was not paying moved out today (most of her stuff) we take the house over Monday (change locks if not totally out)... I walked through today . no real damage. we will do new carpet, touch up paint, new fixtures and lights..my property manager 'all in one' guy is on vacation this week so I am having some of the folks I know quote. I continue to need to increase my list of maintenance guys, all in one guys, etc for these homes.. will make a list of what I have (and hwat the property manager has) . Good guys get busy so need more than one.

Got an application and likely lookking to finalize w that lady whose house burned down and just needs 9 months.. will hope to finalize that Monday.. $250 premium on rent.. which makes the rent $1435 (up from $925 from the last renter)

I am also going to get it section 8 approved so we have that route for later if need be. section 8 rents went wway up too..

So nice basic house fix up is done.

Will contact the guys w that french drain idea for the 2 homes (they are side by side) to finally fix the water issues .. the house that we are renting and is ALREADY fixed up is dry w the fixes we have done so far.. the house next door (that is being vacated now) is NOT dry in a big rain (which this year seems to be full of) a French drain should solve that

Praying for the appraisal to go well, the short term renter to work out, reasonable cost to fix up the other house and more money and LESS COSTS and a new job (forgot)

I hear on the appraisal MONDAY!!

Main home refinance update, ponderings

September 4th, 2014 at 06:04 pm

HI all

Loan update. They got the paperwork wrong. rate was wrong. they sent me 5.5% but for the program I am . it should be 6.25%.. no change in any other terms. Still very good. Apparently someone at the mortgage company made several errors like this. They fired her and are submitting all new paperwork for me to sign. Makes me nervous. ON a higher note they charged me for the appraisal, $370, which means someone has to call me soon to set that up. Once that is over .(and hopefully turns out well) I am home free. Reminding folks..one of the reasons I need to get out of this loan is the payment is $2970 WITHOUT taxes and insurance (that part adds almost $1000). I can not afford to escrow that without a severe cut in any monthly savings. ANd if I escrow I need to start escrowing this month. W the new payment, I will pay the same amount or less and it will cover taxes and insurance as well. HUGE savings. Anyway, they are looking for $525k for the value to wrap in all the banks costs remaining... 525k would be awesome but a little less is fine too. Also for folks who were not tuned in up front.. part of the reasons things are tight (outside of my crazy 5 year ambitious plan) is because my 'plan' did not include having a mortgage payment AT ALL for probably 2-3 more years out. I got an opportunity to buy my OWN house from the bank (it was in foreclosure) and I did so because of the equity and peace of mind that brought.

Ponderings.. paid all personal bills for this month just now and figured out 6 homes/3 units costs for the month (standard costs) based on estimated rents/expenses. I am basically surviving now.. not putting much into savings. I put $453 in last mont, zero for July, and will try to put $1000 in this month. All my extra funds is going towards the loan costs ($1000 to date, paid out of close) and overages on the 6 homes due to lack of rent.

Trying to think positive. I am doing a good job of squeeezing things to cover my costs without dipping into emergency funds so when the homes stabilize.. I should be doing real well and when I switch jobs (if I do not take time off.. which I likely will) will have an $1800 cushion between jobs.

We shall see.. trying to SEARCH for anything positive.. too much in the air still.


Job Interview!

September 4th, 2014 at 04:35 am

Hi guys.

No word on Naperville jobs.

Got a job interview though (sortof sudden) and had it yesterday. I think it went very well. They have 2 openings and I think I am one of 5-6 so have a fairly good chance.

Oakbrook.. 30 minutes drive or less
Flex time- YES
Manager is open to 2-3 work at home days a month
this is a contrct to perm..
Contract $63/hr
perm $110-$120k

Need to investigate the permanent side more.. would like to get $120k

I will hear on this job within a week (maybe even THIS week).

they were in such a hurry they did a phone interview so I have not seen the office, done the drive yet so need to do that.

Gives me some hope to have some movement on the job front and interview went very well. gives me confidence.

Still waiting for loan appraisal

Praying that goes through. Calling broker in an hour


NEED good news on the 6 homes.


still sowing, but no seedlings yet, 6 homes, job, loan update

August 25th, 2014 at 06:31 pm

Just diarying again

VERY tired..

1. no loan news.. hopoing to hear soon
2. no news on jobs but got wind of a PERFECT fit (project manager liaison between a major bank and my old company) only issue is it is downtown but looking at it anyway.. maybe it is only 1 day downtown .. they say I may travel between 3 offices. one of which is in Naperville. i am redoing my resume right now to fit this perfectly but this would be a dream job, fun, have contacts, and I know I can be a success and pays the same or more than where I am at $65/hr. I iwll not make the same mistake though of taking it if it is too far.. there are jobs out here in or near Naperville or work at home.
3. 6 homes.. positive feelings and news but no results yet. I want results and to REST.. having all this in the air makes me tired, hard to sleep etc and constantly doing job search/loan stuff at night..Talked to property manager.. he is setting up a few showings for this week (showings this weekned did not turn out.. ) also he got a call from someone who wants a short term rental.. some insurance case (fire at his house) and is looking at 6 months.. maybe more. He can pay a premium and since living in a hotel can move in right away.. a 6-9 month lease would put me in a MUCH BETTER time of year to rerent so we are considering it..PM is following up for details..ALSO got news on the non paying renter.. she is moving out this weekend, plans to pay a few hundred on move out day and we will try to sign her up for a payment plan. these are all words right but sound good. PM already has folks lined up for next week to do a quick fix up of that house and then will immediately look to rent it. As house next door is vacant now too we really want to fill that so the two do not compete against each other.

About it.

Praying for good news and closure on something.. (good closure)..

Customizing my resume for thsi job and then off to bed to read to relax.

Main home refinance, jobs, homes updates

August 23rd, 2014 at 08:41 am

Hi all

Just diarying at this point.

Paid the bills for this month (down 2 rents) but paid. I am saving my $3900 for now (the $ required to catch up on the 6 homes loan from last months non payment of principal). I will send it to him once the homes are filled or I know costs.. I did one roof so far this year.. trying to do 1 more.. jsut need things CALMED DOWN.

May put another $500 towards savings or more likely save it for the rental emergency fund. We are a week from the 1st w no renters on tap yet and one renter not paying. Just hanging in . Got some showings thsi weekend but overall response has been slower than normal w kids going back to school. Hoping to get the homes smoothed out soon. still very much believe in them long term and knew this would be an uphill battle upfront.. all in all not so bad.. I am only down $1000+ (rents) across both homes but what was difficult was the HIGH fix up bills etc... most necessary or immprovements (which I want) but think I could have shved a few thousand off maybe? I did not anticipate them taking so long or having another home not paying rent. Really thinking about it, I would not be stressed at all. if we had rent coming in..never had it take so long to turn over a house.. wish I did not have those weeks of playing around w the old PM and nothing getting done w renting the place, the non paying renter and my having to basically run the rehab. New property manager though has done more in this one week then old PM had in weeks so feeling positive but tough right now. I sooth myself by writing up the worst case scenario (short term and long term potential costs, issues etc) and being ok w that and thinking the deal is still good and thinking about the prize. basically 5/2018. I will have $3600 a month coming in and 5/2019 $5900 a month (more if I can raise these rents).. from the rentals.. and w flex jobs (see below) I am confident i can find a work at home job then or even now..

Anyway..onward.. figuring worst case for NOW another tough month and then filling both w good people. and RENT and stabilizing for the winter.

heard on the main home refinance. They are now down to 5.5% WOW!! 30 year term, 5 year arm (not term). which means if need be I can keep the loan long term. first change not until 5 years.Depends on lots of things.. maybe I will just sell this house before then.. not sure. House still in very good shape. No approval yet. hoping for approval next week and then appraisal. they went down to only doing 1 appraisal (good sign) and loan papers were targeting the 10th to close. rthat will be a HUGE weight off my mind. Not approved.. still need prayers.

No movement on cars .. waiting ..

No movement on jobs. got in for one more local one. no news on the first 3 local ones. .and joined FLEXJOBS.com (100% remote jobs and some highpaying)

I applied to one job thru flex jobs and will work this weekend to do more

Commute is still bad but more tolerable as I am used to it and know what to expect and have the bluetooth set up so my phone goes thru the speakers.. (neat feature). gas costs averaging $88 a week!!

Good to read everyone else's post. Keep it up guys.


Decision on car and 6 homes updates.

August 19th, 2014 at 04:45 am

Hi guys.. still feeling good w Matt the property manager.. showings today.

Anyway. I think I made a decision on the car. I will sell the tahoe.. keep the genesis and get winter performance tires ($1300 for tire wheel package). I expect to hear on the loan so will hold off to sell and payoff Genesis until then.

I DID drive the 2011 Camry and though it was very nice the saving was not enough for me to want to switch. $17500 for a Camry Le.. without sunroof, bluetooth, heated seats.. all the stuff I like and my car works, is in good shape and is large.. so staying. I did not like the leather look in the XLE and really alot of the things I wanted were extra or not avail.I think I got spoiled w this Genesis.

I will find out this week what I owe on the Genesis but likely also selling back the warranties etc.. so if I do that it may be $15k..

talked to a performance driving instructor I know and he said winter tires will be fine and that actually rear wheel drive cars steer and brake better.. so he says weight in back and winter tires on all 4. He will show me when there is snow out how to drive (so months away)

Good to MAKE a decision.

Praying for continued movement from the 6 homes.

Matt, Pm, said his maintenance guy saw 2 of the tenants 2-3 weeks ago and they were out LOOKING for another place to live because they did not like the property manager I just switched from. (would have been nice if he told me then!) Wow. Crazy. They were his first call telling tenants about the transition and apparently are not looking anymore. My homes are sortof in 'groups' except for 1 outlyer. so these two people represents TWO homes.. really maybe dodged a bullet there..

REALLY need to get these 6 homes back under control and rented.. If we save everyone else from leaving (not sure anyone is thinking of leaving!).. fill this vacant house (expect to soon) get rid of this non paying person and fill that. I should at least be getting major increase in rent but at this point i just need ANY RENT and to stop the hemorrhaging.

I meet with Matt , property manager, tomorrow to go over things, givve him keys to the rest of the homes, set NEW expectations etc..

Excited to move it forward.

My accountant says I should think of switching the 3 units at some point....3 units run smoothly now.. I will not transfer..too much volatility already.

"nothing is up but the rent' at this point. Smile

Onward..praying for calmer seas soon.

3 years 9 months of this accelerated payoff left for the 6 homes..

Property Manager transition (back)-update

August 16th, 2014 at 06:40 am

HI all

Today I meet w the other property manager.. the one I switched from and now switching back. His name is Matt.

The good thing w the previous switch . I am better organized.. have some goals. knowledge and confidence.

He has ALREADY been out to the non paying renter house and apparenlty found out she is leaving. I will get more details and we can form a plan today.

Also will want him to list the vacant house today..e tc etc.

I feel good positive and looking forward.

So much so I put $453 into savings.

Have not contributed to savings since June! w all the stress.

I HAVE the $3900 principal payment (that I delayed last month on the 6 homes).. I have that now but am going to hold that until I speak w Matt, get a plan and start seeing movement towards filling these homes. I need rent and certainty.

not looking forward to turning over YET another house (non paying renter) but determined to do it right this time..

LOAN UPDATE.. loan was NOT submitted yet.. gets submitted Monday.. apparently it was a larger package than expected so some assistant had to spend a day or two clarifying it etc to type into their computer or forms or whatever

and the job in Naperville.. they are 'making a short list' of folks to call in by Wednesday next week.. so hopeful.. I met a guy at work who used to consult w/ them so as soon as I have the interviewer name or contact. I will ask if he knows anyone and can put in a good word

looking at Camry's 2011 today.. or later.to evaluate costs/features/etc vs the Genesis.. then will see how much Genesis is really worth.

My genesis has blue tooth (phone comes through speakers) which I JUST set up and it makes the drive a lot easier.. and funner.. if I swap cars I want to see if they have this feature too.. Hyundai just came out a w anew Genesis which looks really nice (not looking at it just commenting)

Onward. hoping property manager transition w my new focus and knowledge will go well.

My plan hinges on these homes and I need to get a SYSTEM in place so they run smoothly. I also need to smooth things down so I can stsrt saving again. not saving recently... .just struggling w this insanity..

Old property manager is getting snippy with me (she still runs the 3 units) and it is unclear if she told 'her contractors' who have done work on the 6 homes not to call me or something. I called one yesterday and NO call back. That is so immature if she did that and makes me concerned w leaving her the 3 units.. Maybe she will get over it and the 3 units run fine so far. I will call the guy again today.

Movement! for better or worse, hopefully BETTER

August 14th, 2014 at 05:41 pm

HI guys.

Been really struggling as of late.. but finally getting some progress and movement.

1. Loan submittal IN.. now we wait 72 hours for approval (hopefully).. 6% rate, 30 year am, 5 year term. PERFECT.. any approval will be contingent on the appraisal.. final loan package was over 120 pages long of forms and documents.. insane!!! SO thankful I had my accountant help and he is savvy. Lot of my stress went away w just "sending this off'. Please send prayers..

2. Job.. I am submmitted for 2 jobs in Naperville and going to be in for one in Westchester.. getting lots of clls for jobs downtown and far North burbs (where I am at) .. turning them all down..my current job is crazy.. 85% of the workforce are contractors and they let people go at 2 years (no matter whwat they are in the middle of) ... my boss is a contractor and he is 'outahere' in 3 months... hard to listen to him. Folks talk about this all the time.. 'oh how much time do you have left?" Still looking full force.. gas costs insane and driving WAS better but today was an hour forty comnig home..the head of the program I am on is at the end of her 2 years and leaves next week (in the middle of the program)... it then gets passed to my boss who leaves 3 months after. hey maybe then I will run the program.. (insane)... how do they run things like that.. morale is not super high..

3. 6 homes.. I will write a longer post on this but I switched the 6 homes back to the old Property Manager today. new one was ineffective in renting, slow, ddi not want to go out to the homes and was not able to deal creatively w non paying tenants. This guy is going to make filling that house and getting that non rent payign situation clarified. Old Pm had no showings set for this weekend, nothing in the works and I just found out this week that all the time she said she had ads in the paper/craigs list .. she did not..

very bad

Anyway the rest of my stress went away w the 6 homes transition (back)

It reminds me of Eddie Murphy Raw (I think that is the movie) w that real funny line.. he asked his girlfriend what is up and she says in an angry voice 'Ain't nothing up but the rent.."

That is the truth!! I can fix and work w a lot of things but I can not work with anything without rent coming in

Whether the old pm is my lifelong PM. I do not know. but guaranteed he will get the rent flowing again. he said he just rented another 3 bedroom and had folks left out who wanted to rent..

I will work w him on higher standards for the homes, follow up receipts.. all of which we talked about tday... my involvement in evaluating homes for rehab will help too and my contractors I trust.

these homes need someone who can Be there, has an interest and is down to earth enough to work w tenants or cut your losses and has more tools in their tool box then court (with an attorney she insists). Old PM was and is good w the 2 3 units but those are side by side.. smaller. simpler and take much less time..

Stay tuned

I am SUPER tired lately (all the stress.) but feel good with getting this loan stuff and 6 homes switch (I left her the 3 units) and job stuff in the works

thanks for the support

Car update, 6 homes, job, and main home refinance

August 9th, 2014 at 12:49 pm

Hi all,

Car update. I can get a 2013 Camry Le (30-40k miles) for $15500 OR LESS (plus tax etc) and can get a 2009 (80k miles) for approx 11k. can do a 2007-2008b w near 100 miles for $8-10k

I owe $18k on the Genesis (2011) front wheel drive.. that has $33k miles now..

Next step is to actually drive a Camry. I drove one before and liked it but want to drive again.

expecting 20-25k from Tahoe and genesis should be worth $21k..


Main home refinance. Slogging away.. SO glad I have an accountant friend. I would; not get through these loans without. We hit a possible snag.. lender is wanting all info on 6 homes, 2 3 units.. submitting on Monday then news in 72 hours

I have to assemble all leases, and taxes to submit. Tiring. stressful but this loan is good.

The 8% I saw was the QUALIFYING rate. the loan is still being offered at 6% which would be awesome.

Just hanging in there and trying to stay on task. Will be so happy once it is submitted (though they may have more questions) the bulk w ill be done by Monday.

Stressed by 6 homes transition. not going super well. speaking to new PM and giving her a chance etc but researching others in the meantime. including the last guy I was with.

New property manager has some good points. but 'If I do not get rent, nothing else really matters' and she has been real ineffectual w that and does not like to go out to the homes. which is anohter thing I need.. upsettting. but working through it. I understand that there will be issues w rent from time to time which is fine but they need to be handled.. and they are not being handled..and disappointed w her method to rent out the vacant house out .. sign out front is cheap/home made and her 'Craiglist' add has pulled noone so far.

Still believe in homes but upset and stressed w this insanity..

I want t hings to smooth out so I can be moving forward again.

I have $1800 of the $3913 I need to catch up on the 6 homes from last month.. should; ahve the rest in a week or so.. that means I get a home next month.

I have NEVER had such an issue w these homes and so much stress as w this new PM

talked to my accountant I can NOt raise my exemptions any more than I have.. estimated tax return next year between $5-10k based on his forecast..

JOb update, 6 homes, main home refinance

July 26th, 2014 at 08:19 am

Hi all.,
THANKS for the feedback and ideas for the commute. I will try to leave later next week (leave 7:45am and come home at 4:30 pm .. (get home at 6).. that way I can work out in the am and get stuff done and feel normal and not be so sleep deprived. Going to library today for books on tape.

Boss gets back Tuesday will ask him if I can work at home 2 days a week.. Friday's drive was EASY by the way and coincidentally that is the day I did both my interviews so that is why my estimates were so screwed up. Turns out FRiday everyone works at home. If I get 2 work at home days (and I will push for them.. others have them) I will take Mon, Wed work at home, Tues/Thurs office and Fridays drive was easy so office there too.

Got feelers out for jobs... per recruiters we are in a job lull right but expecting it to pick up in Aug/Sept w budgets. I want a work at home job.. even part work at home..
Loan appraisal ordered.. should happen early next week (will have to work at home or take day off).. need $525k value

6 homes.. fix up on that one house is done.. looking at it in 30 minutes...it shoudl rerent fast (guy said he had people stopping by during rehab). House next door (rent situation) Lady asked for rent help for one month from the county and if she gets that she can catch up in full within a month. She wants to stay she says. I feel I do not have a handle on that at all. I am the ONLY ONE talkking to her. THe new PM is saying 'well I called her and left messages' and then she sends a letter. I need someone who can aggressively get a handle on things. I told her this last week I need her to go out there and figure out what is going on and 'assess' the situation and give me her opinion. Basically I feel I am running these homes myself and I do not have time for that. Some other miscommunications occurred too. I talk to new PM today but she does not appear to 'have the time' to get out to the homes and does not appear to want too (has complained several times about the time she is putting in). .Doing what???. You can not run these homes entirely from your office and phone. Sometimes you have to earn your money. Anyway frustarted in her unwilingness to 'get things done'.

That is a WHOLE POST which I will post later today.

Frustrated and strained w the 6 homes situation. I did a pros/cons of each property manager and went over it w some people and w the 'cons' I listed if they were 'fixable' or 'able to be mitigated;

I will share later for thoughts and I want thoughts.

Not giving up on mew Pm and she has some good points which I have learned from and can take elsewhere but her inability or unwillingness to jump in or lack of time is a BIG ISSUE. I can not run these homes by myself. Even w the 'rehab'. I am running it all on my own.. w Matt (other guy) he could meet contractors etc.. remind me of stuff I forget and 'get it done'

W this lady not paying.. (course I do not know the following) but I am fairly certain based on past experiences. He would have called until he reached her or stopped by until he reached her.. assessed the situation (yes she is going to pay. no she is not.. lets rerent it) and coordinated the move out or clearly established guidelines for the payments..I would not be sitting here in the dark.. calling her myself.. Crazy!

W this house (rehabbing) he woudl have had it up on the market by now (probably w it in such good shape had folks lined up to rent it or be investigating backgrounds already etc) and reminded me of stuff the contractor just did today and taken care of it. I do not ahve time to be hands on w these homes. I need someone who can be actively involved.. I told the new PM that I can make calls.. (and I have made calls and gotten through) I pay her to do more.

Frustrated and needs these homes smoothed out so I can move on to other stuff..

Too much energy spent being frustrated and less total energy available w this insane job.

I do not want to get off track and am off track now so need to get back ON. I am happier that way.

Updates,. job, main home refinance

July 24th, 2014 at 04:05 pm

HI all

At this point just diarying..

Not my usual (hopefully) upbeat self.

REALLY REALLY down and discouraged.

Both work at home jobs fell throough.. no word from my old boss but do not have super hope w that. Each day at work is worse and worse. It is unbelievable to me that I have to go back there tomorrow and next week and whatever

I hate it. Rush hour back.. no matter what time I leave is at least an hour and a half.

I am exhausted after work (not from work.. work is easy) from the drive.. feet hurt.. back hurts.. stressed out of my mind. ANGRY (at who. I do not know.. LIFE .. ME!!??)


I jhave moments of calm where I am tryign to think of ways to immprove things/not focus on it/be positive/get productive.. whatever.. whatever.... today I listened to 'Oprah' on xm (get my mind off it) but really that can only last so long.. I am in the carfor an hour and half stop and go.. Friday is coming up.I can not imagine what that traffic will be like..and there is NO WAY OUT. I have to drive home and no matter when I do.. it is the same rush hour trafic..leaving at 3pm is just as bad..

I am feeeling sortof like the life and enjoyoment is being sucked out of me. I am so tired all the time.

Main home refinance.. still ongoing. my frustration w that is probably because I am so angry and stressed and TIRED all the time

Anyway.. they raised the points to 2.. so 4 points total.. 2 to broker, 2 to bank, 6%, 30 years, 5 year arm. they raised hte loan to $315k to cover all costs. I do not want to add debt w this so was trying to pay it all myself. (I did not know they need taxes paid in full thsi uyear. was hoping to use that towards costs).. SSTILL FAXING in endless docs.. They think house will appraise at $525k. I am SO DISCOURAGED AND UPSET..can not think anymore.

Just VERY DISCOURAGED and impacting everything

Loan payment would be over $1100 less than what it is now..

I was thinking of selling my car today (truck) just so I could take some time off and search for a job that way. I seriously can NOT imagine showing up again day after day after day. I need to maintain working w a paychedck while this loan goes through..

I am also thinking (and you can think I am insane and post comments ) of getting a doctors note that I injured my foot, broke my leg whatever, totalled my car.. ANYTHING so I can work at home for a week or two to get my head on straight and get hopefully a good start on job searching. Absent htat I will ask my boss if I can work at home starting next week for 2 days (norm is 1 day after 3 months) I can not last that long.

In the contracct world.. jobs come fast. so really from the time I get contacted to 'hearing if hired or not' is generally 2- 3 weeks and just having that RESOLVED will lower my stress and discouragemnet 10 million fold. .. even if I start 2 weeks after that

That and having this loan CLOSE and the 6 homes smoothed out

I do not have energy to deal w 6 homes right now.

Updates -6 homes (positive)

July 19th, 2014 at 03:16 pm

6 homes update.

The house section 8 lady vacated and we are turning non section 8 for a big rent increase.. -Clean up and fix up in the works!! (new paint, light fixtures, faucets, appliances.. *she took hers*, carpet and general fix up and clean out). will increase rent at least $300. trying for $400. To be done Thursday and then start showing immediately!! THIS will be the house I take deed too first (September)

Other house (next door) where lady was late w rent. I talked to her myself and her reduced income situation appears short term. She wants to stay, wants to pay, house is clean inside. I got some $ from her today and expecting the rest next week. She is aware if she does not come up with it we need her to leave asap. I think that will smooth out. I said I want to do some fix up there too.. this will be the 2nd home I take deed too.

Excited to see how these homes turn out and to SMOOTH things out.

Doing a LOT of fix up in the 6 homes.. in past 3 months (3 water heaters, 4 sump pumps, 1 roof and now this whole house fix up, several leaks, lingering issues fixed too). Also completing an outdoor drain system for these 2 homes next to each other (above) and fixed the foundations on them.. (last years posts)

So ALOT.. THANKFUL you guys encouraged me to get a larger emergency fund. thankful I found some good people to do the work (still finding people) and potentially thankful for this new property manager (still evaluating her) and thankful for my accountants support and encouragement

IF (when this works out) I will have 6 fully paid off easy to rent homes in 3 years 10 month time. I am not kidding myself I need to do 2 more roofs (in the near future) and probably will uncover some more mid-large fixes next month (property manager going through each house and making a punch list per house) but if I can survive this year I think it will drastically reduce and improve. I will likely reduce my savings this year to do this.. Budget though with FULL RENT is $750 a month for repairs.. so basically once the large things are taken care of I have $ to nip away at these punch list and rebuild my funds.

THANKFUl I am have a good job too and a fairly easily marketable skill set.

I can not afford a job loss or job break right now so closely watching contract end dates etc from now on..

The 2 3 units continue to plod along (they have no delayed maintenance items) and we will raise rents in the fall. they are paid off in 2019.

I anticipate reducing my rental emergency fund by $5k more in the next month or so to pay for all this and potentialy another roof and the drains (not in yet) but hoping for the motorcycle guy (owes me $6 k.. talked to him Friday) to come through soon and just saving as much as I can each month.. also have the possible sale of car(s) and got $1500 more stuff to sell on Craigs list... ALso next year should be getting a $10k tax refund.

Surviving (crunching numbers right now big time) and looking forward.

Prayers for main home refinance and 6 homes to settle down.

Updates (positive), new job, main home refinance, 6 homes

July 19th, 2014 at 02:59 pm

Hi all,

Whirlwind week (seems longer). My boyfriend took me on an impromptu 4 day trip to Gatlinburg, TN,, nice ...stayed in a cabin, did the zipline, hiking and other stuff.. We took the Genesis and it got over 30 mph.. still figuring out the cars.. now thinking to either sell Tahoe/keep Genesis or sell both and get something like a Camry or Accord (used). Figuring that out

JOBS.. NEITHER of the 100% remote jobs worked out yet. First one at $60.. I responded incorrectly to a VOIP question (saying I did not use it that much) and later found out the job was mostly project managing VOIP.. WHOOPS!. MAJOR error in prep by the recruiting house. Anyway they have other PM jobs and are considering me for those (hopefully). $65/hr job. no response but they have hired 2 people.. recruiter concerned job is filled and I got in too late. We shall see. I start my NEW job Monday.. $65/hr.. large company.. 50 minutes from home but flex time and 1 work at home day a week (after a month on the job). I WILL STILL LOOK for a 100% remote job in the 60-65/hr range. Got a few new blouses and am approx 10lb overweight for several outfits.. my incentive to lose.

MAIN HOME REFINANCE.. exhausting but we 'appear' to have good news. I say 'appear' because I do not have paperwork yet.. Approved through 'pre underwriting' at 6%, 5 year term, 30 year amortization, 1 point to the bank, 1 or 2 to the broker .. HOWEVER they will only do 60% loan to value (loan I have now is 65% LTV)..appraisal soon.. house must appraise at $495k or better. Broker is NOT concerned w the appraisal coming in based on what he looked up online etc. I AM concerned based on the fiasco last time. They asked for my title company from last time and have contacted them for a quote on a 'updated title' and hten will get me the Good faith estimate and term sheet. PRAYERS and fingers crossed. They want to close by the FIRST.. (9 days .. insane. .) This will use up much of my emergency fund to do this but will be worth while big time

Post is getting long will update 6 homes on next post..

Updates, gave notice, 6 homes, main home refinance

July 7th, 2014 at 04:48 pm

Hi all,

Diarying here.


LOTS of people reporting mid year net worth and LOTS of leaps in investment account value. I WISH I had more $ in my accounts so I could reap some of that benefit.


Gave notice today. start date 7/21.. current boss wanted to see if he could make it worth my while to stay. he is going to see if he can get me enough work (contract) for 2 years and raise me to $62/hr. news tomorrow


Loan guy called and said the bank called HIM and he should have 'paperwork tomorrow' and said 'not to worry'.. 'things look positive'. I am praying. My worry and anxious nature must show though

6 homes. lady moved out. current Property manager did the walk through.. not that bad (in terms of repairs due to her or cleanliness issues) but some updating needed etc. getting cost estimates. hoping to fix it up in a week and fill it by the first

House next door (you recall tenants Dad got sick blah blah and she now may want to move downtown to be nearer to him) no rent yet . she owes 50% of last month and this month. she HAS called though. Property manager is tracking her down tomorrow... if she is going to move I want her out now so I can turn that over.. I will ask for $100 more rent over there. Again that house will need updating.

At least I am feeling like my $ dollars are being used to update/improve or fix things correctly and for the long term vs wasted w the old property manager.

Anyway.. even with all the above... I am feeling things are smoothing out w the 6 homes and should be fairly well smoothed out in the next 2 months. fingers crossed. I NEED them smoothed out asap. too much uncertainty right now.

About it for now.

Hopefully news on loan TOMORROW

I will be so happy if this job works out, the 6 homes smooth out and I get the loan!!

New job, 6 homes

July 3rd, 2014 at 11:44 am

HI all,

I just heard I get paid WEEKLY on my new job. I will have almost a $2000 overlap between between jobs.wow..nice...maybe can go towards rental emer fund, the points for this new loan, investing. exciting to have an 'extra' possible #2k

selling sharebuilder. putting into Vanguard.. whatever you guys do . do not buy Sharebulder unless you plan to hold it a longer time. I am wasting money on fees to buy and sell. it was a good thought at the time.

6 homes. I am stressing on this house turnover way too much I am going to give my new property manager a list of what I expect and let her do it before stressing anymore. in fact off for a walk now (this is my work at home day)

Everyone have a great 4th. I am doing a parade and then some fest thing.. with a band.. and then Friday I want to lay out in the sun. have not done that in a while..and going out to a celebration dinner Friday pm. and then just whatever.. want to rest and relax.. stress eats you up!

Early release today at work. 3 pm.. trying to get stuff done.

PRAYING for this main home refinance to come thruogh and good news on the 6 homes turnover. still a good time to rent.. just want it done (NOW) haha

6 homes transition update (not good), and other misc updates

July 1st, 2014 at 08:31 am

Hi all,

Too many updates!

$65/hr job proposed start date is 7/21.. will give notice once I have the contract.. today?? but no 401k for a year!! will have to save in taxable accounts

Got a call for a $65 contract to perm job in NAPERVILLE.. put in for it.

Also I have an interview for $60 work at home job..


Loan submittal sent today.. hoping for good news by Thursday (prayers).6.25%.. 2 points.. need to exit this loan asap.


6 homes transition..rocky .. I am pulling out $10k from the emergency fund today for roofs etc.. s8 lady has not moved yet.. but still getting rent but upsetting.. have a call into s8 and property manager is going over there today to see what is up.. house next door did NOT pay second half of last months rent 565 missing and concerned for this month.. property manager is going over there today.. when it rains it pours. putting in new sump pumps in both homes and a french drain.. $$$$$$$...I have never seen so much rain in a year!! but all fixes from now on are long term..and done well. just lots of MONEY and rental uncertainty which I do not like... just feels very up in the air right now and a rough transition. upsetting. news hopefully today on rents and status. Property manager is meeting w ALL tenants in this next week or two.. walk thru homes. form a list of things needed.. money out the door but it will be good to get these back in order and running smoothly..

PRAYERS for money and some resolution (good resolution on the above)

Mixed news, jobs, main home refinance, 6 homes

June 24th, 2014 at 12:55 pm

Hi all,

Interview went very well but I was not hired 'on the spot' and I am apparently now going to hear Thursday (vs today) which makes me nervous and a little disappointed (i was SO PSYCHED to hear today. .. but liked the job.. not a bad drive at all. flex time (start early leave early if I want)..one work at home day a week and FRIENDS and social contact at the office.. right now I have none.

6 homes.. good management but struggling w all this 'deferred maintenance' and fixing things not fixed right. upsetting.. ..but getting it done.. I will be happy once this is over and we have filld the home the s8 lady is moving out off.. LOTS to do.. but good properties long term.. just short term stressful

LOAN GUY CALLED. (did not talk to him. he left voice mail) that it looks like a GO.. and that he met w the bank president or senior guy.. showed him my file, my letter, my info and looks good. he is going through underwritign pre approval now to get a letter w specific things I need to produce..

Rate (and afraid to say this out loud it is so good) would be 2 points, 30 year am, 5 year term and 6.25!!

Praying right now (before my nextg work call) for this job.. $65/hr. .I REALLY WANT and need the money to reach my goals and settle down a bit and for this LOAN!!

It will be a BIG BOOST if I get the $65 job AND the loan.. wow and then fill that house and smooth things out.

Just hanging in there for now.. Thanks for the support.

updates, 6 homes, job offers this week, main home refinance

June 23rd, 2014 at 05:48 pm

Hi all,


I am on final interviews w 2 jobs.. all that I am waiting is for the job offer. to come this week (if it comes..).. I should hear on the full time job, the $60 job and the $65 job.

Main home refinance.. trying for a 6.25, 2 points, 30 year amortization, 5 year term loan.. NEWS TOMORROW.. (tentative approval, not firm)

6 homes.. lady on S8 we are trying to get rid of in order to raise the rent is CONFIRMED moving out 6/30.. we will look to rent it asap after.. may take a short while to clean it up. not sure.. current property manager out of town but left someone good in charge.. STIll happy I switched

Doing 2 roofs this month (next week).. LOTS of $ out the door but can not wait.. w the rain here (cloud bursts like everyday) need to get them done.. expecting to drop my account by $10k or more in the next few weeks..

CARS. I have 2 cars.. 2011 Hyundai genesis (owe $18k) and 2008 Tahoe. worth probably $22k still. paid off. I was seriously looking into selling the Genesis (should get $23kish) and keeping the Tahoe or selling BOTH and getting just a 'reasonable' car (camry or some lesser Hyundai) that will last these next 5 years and pocket (and invest) the difference.

Final interview tomorrow am at the Z$65/hr job... wish me well!!

6 homes transition update and main home refi updates (good news)

June 17th, 2014 at 12:39 pm

Hi all,


Breathing a semi sigh of relief.. that renter called and is planning to drop off rent to new property manager Friday. that will complete the rent for the month and I feel things will run smooth after that... course we are still fixing issues etc.. but smoothing out over time. she is also meeting w the old property manager at 5 to do knowledge transfer.. get keys etc. We still have the outstanding issue of the tenant we want out and that is in the works (getting her out). S8 is thinking of 'violating' her and threatening to take away s8 ifd she is not out by month end..

Praying the PM transition goes well and was the right decision. 6 homes are a major retirement component


Current best offer is 3 pts, 8.99 3 years ..starting Aug/Sept. I verified I have the credit for it. Total savings over 3 years $18000 INCLUDING the offset for the points.

I have called my current lender and am trying to get them to lower the rate and extend the loan (likely less points/fees). I talked to them today and will hear tommorrrow (her time estimate)


Maybe they can do it for just costs.. or 1 point or even 2.. every point is $3k

I know some of you think I am crazy out there for this refinance loan but I do not think hard money loans are coming down.. I think they will be going up (certainly not less than 8.9) and this is an opportunity I need to grab. I need to exit my current loan in a year anyway..Escrowing taxes w the current loan payment will be super hard. I will find it very hard to get a longer loan and why would I want it at hard money rates..

No job yet but 2 interviews this week. I am thinking of taking FULL TIME vs contract (stability, vacation and I think I can get $125k).. I only make $55/hr now so $125k is a big increase.. also I need and WANT stability for these last few years. less stress!!

Thanks for the support. Smile

RENTAL EMERG FUND COMPLETE! and 6 homes transition update

June 16th, 2014 at 05:08 pm

HI all,

3 goals reached

1. Saved $1200 to keep in my bank account at all times for emergencies. Contingency money
2. Finished the ROTH for this year.. added $2000 for a total of $5500

That motorcycle guy still owes me $6000.. hoping to see it this month... that will go towards the rental emergency fund so when I pay for the roofs it gets built back up.

Still struggling to settle up and get back on my feet.. settling up w 2 flat tenants this week and then have to settle up utilities for that then all costs go9ne (and income). BIG income hit these last few months. I shoudl be settled by mid next month and can start a routine again.

6 homes transition. still rocky.. biggest concern is the one lady who had rent last week and called old property manager with it.. he told her to hold it and NOT pay him.. now new property manager is calling and she is not returning calls. She is the one who just signed up for new garbage though.. so hoping that works out. new property manager is going over there shortly too. If you recall new property manager is going out of town this next week (Alaska) and is swamped and a little frazzled. I am hoping I made the right decisoin to switch. would feel much better if rent was in. not sure if she is being aggressive enough.. upsetting...She has said it would have been easier some other month to start .. I am wondering if she is doing all she can.. impressed on one hand but nervous w this rent situation. Hope to have news tomorrow.. I do not want to have a non paying tenant but this tenant has been paying ever since she omoved in.. crazy! If no progress tomorrow we will give a 5 day notice .

I will be doing two roofs next month (across the 6 homes).

Property Manager transition update #3`

June 10th, 2014 at 01:09 pm


Update. not super awesome. Rough transition but expectedd. (this is on the 6 homes. 3 units are fine)

1. rents-approx 50% in (note I have 70% of the TOTAL rents but 50% of the tenant portion is not in). I was at first told they were all in by the old property manager-PM. Confusion about who is collecting. 2 tenants called and were told to send it to the other person and never sent it. New PM is collecting from 2 homes today. These people did call old PM and attempted to pay last week (so should have money) but were told to wait for new PM contact
2. finding some delayed maintenance items (leaks not fixed etc)..$$ but at least fixing right
3. tenant in that one house not out yet. expecting word from S8 this week on what they are doing.. I will feel SO MUCH more at ease once that is turned over.

Just hanging in there and making my payments.

Section 8 inspection on one home next week. (another test for new PM)

HOPING this turns out well in general.

I do feel we will get someone good in tehre once we move this lady out just upsetting... but no rent loss so far. I am concerned about cost to prepare house for new tenant but new PM is going over there next week to check things out and I feel I can trust her to get things done right for a fair price and to make sure tenant is aware of hte costs to her if she leaves the house in disarray. I did NOT have confidence in old PM w that.

Once tenant situation (move out) clarifies itself I will schedule the 2 roofs (I have money)

Hoping in the long term that things smooth out and costs are less and homes better run/maintained with none of these insane costly situations popping up.

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