Hi all

Continuing to feel great with my property manager. Already calling and clarifying the 2 people whose leases are up 4/31.. looks good at least 1 will stay (yay fingers crossed). I am really thinking I will have much less turnover this year and lower costs

Visited the homes we are doing the siding, roof, driveways on and met the tenants . very nice people and were excited for the improvements..

Just feeling good

So goal this year is $60k net and then next year will look to improve on whereever I end up

I am having to pay some $20k in improvements (or wanting to) so for me to hit $60k net I have to actually make $80k net. so we shall see. That is an average of $6666 a month NET.. seems a PRETTY AGGRESSIVE GOAL right now but we will see..better to shoot for the stars and hit the moon

Key is keep those repair costs down and units filled

Thrilled with it looking like things are turning around

ALSO now that I control all large repairs and get CALLED on every minor repair over $100.. I have better control and am forming sortof a team of different trades people I trust and have reasonable rates.

Loving it

Got to get this primary house paid down or something by 6/2018

I took in a 15 year loan but that makes the payments high which I will not want if I scale back. My mortgage if I do not pay extra is $2750 a month.

Dad still doing 'well' and seems stabilized. VERY glad I moved him to Silverado..

the 2 flat is a GO!! trying to close end of the month. seller contract.. almost 14.5% cap rate.. my goal will be to pay off by 9/2018

HI all

Just reading through my rental net sheets from years past. My goal is to smooth out the homes this year and next and realistically complete any lingering 'large repair/upgrade items' this year and then go to maintenance mode

The homes had a lot deferred maintenance items when they were bought. some large (roofs whatever). I got them at super reduced price but realizing I maybe could have gotten them lower (with wht I know now or have learned) .. maybe not. in either case.. I GOT the homes which is a big step in and of itself

Realize that currently all net goes to the mortgages(I am paying these off on a SUPER accelerated rate). 6 homes already paid off, 3 units will be paid off 3/2018

So, my NET if I did not have a mortgage was

2014- $20945 (w repairs/vacancy charges of $50884)
2015- $34288 (w repair/ vacancy charges of $37674)


I am going to set a goal to hit $60k NET (before mortgage for this year). Looking at spreadsheets my major factors that I can control are VACANCY and REPAIRS. I wil track those closely and can more easily do so with the new manager

I am forecasting approx $20k of large repair costs outside of normal wear and tear. which includes roof, siding, driveways. I am starting that this week. I have no other large repairs forecasted and day to day repairs are runnning WAY LESS than last year. I still want to reduce my large repair costs year to year and am coming to the end of the list. realistially this siding/roof I do not HAVE to do but thimk it makes sense long term

A learning year and probably a wild ride but got to get this smoothed out so I can depend on it more. It has been a wild 2.5 years so far.

Rachael

HI all

net rents update

Highest month so far

First 2 months this year (with 2 vacancies) was running at $5100 average (NET) before paying mortgage

This month (all units full) I am at $7387 NEt (before mortgage)

I will continue to track this but hoping for a continued upward trend from last year and with better management I should have it

My management fee is lower w this new company 7% down to 5% of rents and repairs costs are MUCH LOWER (and less frequent) and I have increased collection of rents and late fees .. so so far so good. I am hoping the BIG turn around will be in finding better tenants who stay longer. This management company has placed 3 people so far for me (and all seem good but time will tell). One was a replacement tenant (turning over a unit with 6 days downtime!!) and 2 were just to fill vacancies.. one from an eviction. one with a new property.

Last year I had extreme vacancy and legal costs and lower rents because of it.

23 months to go to pay off these 2 3 units.. so I will use what I have learned and work w this management company to continue this upward trend so reach my goals

I think I will reach my net rents goal but still stuck somewhat with owing this $300k on my primary house I do not like owing that much and am wanting to find ways to get that paid down or owe less. BY 6/2018 at current trend. I will still owe like $260k which will make me feel uneasy to leave my higher dollar job or relax. I want that paid down considering (to less than 100k) and maybe then refinnance to a lower payment?

A lot can happen in 2 years though so onword!

Where do all these net rents go right now? My mortgage payment is $5094 for the 3 units and the rest I either pull out to add to savings or will start using to take care of these large improvements I want to do this year.. so I am not pulling from the homes yet

Rachael

Rental update

All units filled (been a long time saying that) but finally there and all rents IN and so much smoothing out. I am tracking net now each month and so exciting to see the changes year to year. Now hopefully things will just smooth out and I will jhave normal renewals and move outs not this drama and having to evict people etc.. and lost rent..hoping this year is my best year ever actually and I think it will be. Section 8 lady moved in yesterday and hoping she stays long (and works out). I will do those driveways and siding likely in April. .. got quotes and contractors lined up

Work is still going well.. my contract is up 7/7/16 but the project is going to way exceed that timeline so unless there are any slip ups I should be renewed

I should get my 3% match to my 401k (from last year) next month.. interested to see what it is

About it. Dad is still doing well in memory care.. cost approx $7150 a month. he is doing well but the decline is quick. he is now hardly able to get up from a chair on his own and talks less and less.. but a VERY good place.. less drama and homey. very nice.

About it for right now

getting warmer which is great

Hi all

Good news updates. I got the house approved (need to a few minor fixes) from Section 8 but guess what. The inspector called the manager personally on his cell and told him he only let the house back in the program because of HIM and then the manager told me that he regularly hosts a golf outing for section 8, contributes to this guys sister's campaign etc and considers it the cost of doing business.. Wow. did not know that but another reason I am happy I switched to this guy
So lease signing should be this week and them move in this weekend

Rent is going up $20 a month

New manager is also submitting my victorian for a rent increase. lady is on a smaller voucher than the size of the house so rent is real low ($1025)

when I tried for a rent increase myself and through the old manager I was turned down last year. hopefully this will work. if so it will further justify my keeping that house and switching the property manager

Did all my tax stuff and sent to the accountant. Hoping to have a rough estimate of refund this week

He is doing the not for profit and Dad's taxes too this year

My not for profit grossed $76k last year . our largest year yet

Looking at costs from last year and doing taxes really helped me see the difference year to year and easy ways to keep track of things. taxes will be easy next year w this new property managers reports

HOMES really smoothing out and will be a big income source for me

Doing siding of a house and 3 car garage this year along with a roof and 3 new driveways. These items will be my big money spend this year but I think will make the homes look nicer, rent easier and all are long term fixes.

All is good

My plan (5 year plan) is working out!!!

Rachael

HI all

Quick updates

ALMOST done w gathering all info from taxes. Hoping to get LOTs back but not sure this year as I have the '6 homes payoff' and more income and other stuff. Hopefully my accountant can give me a rough idea in a few days

I decided NOT to sell the Victorian house. at least not right now. It is rented, does well and I have done so much large fix up (new roof, soffits, gutters etc) that I do not think it makes sense right now PLUS I found a way to ask Section 8 for a rent increase even with the tenant in there

We have a potential tenant for that one vacant house.. we will hope to firm that up early this week. Fingers crossed that works out. She want to move in right away. 1 lady, 7 year old kid, very good references

My net rents are SUBSTANTIALLY higher w this new management company. hope that continues.. be interesting to compare last year to this year

exactly 2 years left on the 3 units.. payoff 3/2018

My 401k is matched 3% a year but deposited all at once. so interested to see what that deposit is for last year (I carry the expected match to the left). I should have that match in the next 2 weeks

Onward!

Rachael

Hi all

ALL rents in this month, have an application on that one vacant house (hope it turns out) and lots of showings set up. 2 of the 3 units coming up for renewals in 75 days (the point the system throws alerts) so either will turn them over or renew. I can expect to get $50 more if turned over but as I look at my list of larger things I want to do I want to spend less on general turnover. In either case, my turn over cost are MUCH less than last year.

I feel so much better controlling and reviewing the 'fix up work' between tenants. I get to know the homes more and feel in general less stressed.

I have a list of items I want to do this year (improvement type things) to the homes .. but really all improvements should last a number of years so once I get this final round done should be just repair/cosmetic

I do my big excel sheet today (on the rental costs from last year). it was supposed to be systemized and easy and it will be this year but from last year I have the old property manager who gave me no reports for the past however long and then just one long excel sheet at the end

Anyway. still on target to pay off these 3 units march, 2018. if I buy this 2 flat I will set that up to pay off by then too

Feeling better in general about my health/future ( I got sortof thrown for a loop with Dad getting sick so fast) but looking forward to doing other new things, jobs, volunteering and incorporating that into life now

Still have no concrete plan to get this main house mortgage down. I want it to be under $100k by 6/2018.. that is my only goal with no clear path

I DID hear loan rules changed and may be able to switch to a 15 year if that is the case and keep the same ppayment but just 1/2 the term which wil help quite a bit

We shall see

VERY GLAD I switched property managers. one of my better MORE IMPACTFUL decisions in a long time.

Investments are WAY DOWN but just putting in more each month. and have the 401k at 25% . that is the amount I need to do to get to $18k by July1 (current contract end date). It will be fun to see the big change in investment value when things go the other way but for right now with things going down it is sortof scary.

Got some interest in that house. We have a call today. So will see on that. I will share later.

I Do still want to upgrade neighborhoods but do not want to give the house away either but sometimes it is better to cut your losses.

HI all

Still trying to make my $8000/month goal

ALL rents in and some with late fees
House we fixed up and are renting looks great.. LOTS of showings... hope it rents soon

House for sale. got 2 serious calls. hoping they turn into something

Looking into buying a 2 flat

B area, good shape, rents easily and fully occuped, rents total $1800, cost $74k. with $30k down and can do a seller financing contract for the rest $44k. NET profit if paid off now would be $900.. Payment at 5% over 4 years is $1013. Seller already agreed to a contract and 5%, inspecting it and getting more details Wednesday. House will pay for ITSELF on a 4 year term.

I am keeping track monthly this year of what my NET profit would be after all expenses and tracking that so I have true #s..

So far this has been the net

I still owe $125k on the 2 3-units which will be paid off 3/2018. NET is the true net (if 3 units paid off at current rents). Laundry $ is extra and is cash. tha t is on top of the NET figure. This reflects since the new company took over. #s are not full occupancy. November was down 2 rents and legal costs.

NET Laundry
NOV $4,603.00
DEC $6,018.00 180
JAN $5,517.00 323

Hi all

Today I am listing that Victorian house on Craigs List. I figured it was worth a whirl. It is a good solid house but not in the best area and is a HUGE victorian which has not been updated in some time.. so possible large costs to rehab it when the long term tenant moves out. She has lived there 13 years.

I will let you all know how it goes. I plan to write the ad to appeal to investors only and sell it for cash.

Other homes are going well. no major issues and working on improvements as I go along.

Work on the house that was just vacated will complete today and apparently we are getting lots of calls already

Still VERY happy I switched property managers.

Hi all

Got my w2s and talked to my accountant and really even if he works his magic it will be hard for me to get my income down to contribute to the ROTH IRA last year and likely this year. I am withdrawing my contribution/backing out my contribution from last yearr as well as the $500 I put in this year f and will put it into my taxable investment accounts

I talked to vanguard and they recommended AGAINST contributing to the regular IRA with after tax dollars as I do not get a deduction and it will be taxed again at withdrawal.

So until my income goes down I am limited to the 401k.. $18k and the HSA account

Homes still going smoother.. the guy who we were evicting moved out a few days ago so folks are busy cleaning up, throwing out, doing some quick minor fixes and getting it ready to rent. I am setting a budget of $1500 and am looking to get it listed by the end of htis upcoming week.

I talked to the neighbors (I own that house too) and they are very happy. no issues.. so felt good to hear that.

Trying to run these homes tighter.

Property manager will tell me his rent estimate tomorrow.

I am also putting together a list of 'larger improvement items'across the homes so I can knock those off as I go along but no pending large repairs needed

Hi there
I am asking my accountant this too but if I can not contribute the max in my ROTH due to income can I put the rest of the yearly limit into a regular IRA

Example If I put only $4500 into a ROTH. Can I then put $1000 in a regular IRA?

Thanks

Rachael

Hi all

I got renewed but for only 5 months!Crazy. I have a new boss though and they said that is all they thought they could do. I did check and the position is budgetted for the the year. My old boss is trying to get me a 1 year extension which they had told me they would do in the first place. Fingers crossed.

Anyway.. have not done tax info yet but i AM looking at this year NET rental income I get and big change w the new property management company. less costs.. less hassle etc.. and I have one unit not paying (eviction date 2/2 if not out by then). Hoping the upward and stabilizing trend continues

Anyway I am thinking though and the biggest (not worked on yet) barrier to financial freedom for me is my house. I owe $300k . can not get a lower loan (though my rate is ok) but I can not get ANY loan reallly or any good loan for apparently 6 more years (unless rules change which they may) which means if I sell/move I would have to go FHA or something else.

I am NOT thinking of selling but need to get that balance down! I pay $450 over a month but still not really making any huge leaps in paying it down.

House is still nice. still in a good area.. still hoping neighbors move though (on my one side) and I may extend my fence.. I am kicking myself for NOT doing it last year .. instead I used part of their 'rear garage' as wall sortof so I did not have to fence that length..

Stil trying to get to almost $500k savings (only at $200k now) by 6/2018. it will be a stretch unless the market bounces back up and I continue my super high savings rate.

where do you guys suggest I investigage long term care insurance?

Hi all

Raised my 6/2018 savings goal to $475k from $400k

A lot depends on my job, health, emergencies and really a lot of things.

Funded my HSA for the year today. Trying to fund Roth in next 2 pay checks then rest goes towards investments and other savings. I did raise my 401k to 25% which basically for 7-8 months lowers my income (unless I work more than 90 hours) to the amount I would get if I worked full time at the company I am at. I want to get used to that salary so I can be prepared to go full time if money runs out and they cancel my contract

My contract IS being renewed but no word on how long. Hoping it is 1 year. Do not like constant uncertainty that having 6 months contracts provides

Onward.

Hi guys

I currently have my HSA with healthsavings.com

they charge $45 a year and .625 basis points per quarter

Does anyone know of a better deal? I hate to pay that high of fees

they also allow investments in Vanguard funds for free which is why I use them.

Thanks

Rachael

Hi all

New 2016 goals below and on the left. I have NO pending large repairs across the rentals. what a change. the first two years were ongoing repairs and fix ups.. no such pressure now.. of course still maintenance and I do WANT to do some long term things but they are not required..

Still setting personal goals.. looking forward to another busy wild and crazy with ups and downs year.

Need to reduce my stress, the amount of stuff I have going on and do more for ME

GOALS FOR End of Year 2016
1. Maintain emergency funds at correct levels
2. $310k total savings and investments
3. Increase rents across all units by a total of $600 month by year end
5. Fix up/raise rent or sell 411 house
6. Buy 2 more homes
7. Fully fund Roth/HSA accounts
8. Fully fund 401k account


I will try to fund the HSA and Roth by February then all the rest goes towards taxable savings.. I will try some of the methods folks are using on here to track #s etc. I do VERY little tracking of personal. adn want to do more.

If the 3 units were paid off and I was not accelerating payments on them so much (I pay over $5k for the mortgage right now) I am at about $7k net cash flow/month with a 5% vacancy rate and other escrows included (tax, repair, insurance etc).. I am still smoothing things out so NOT at that right now.. but these 2 months w the new property manager have been the best in terms of stress and money in a looonng time.. I will check my vacancy rate these past 2 years .. and then again this year and onward. I have the feeling I will have less vacancy adn faster tenant placement w these guys..

really excited to compare this years #s to last years and have some more baselines. I did have a handy dandy excel sheet for that (which I still do) but lack of management reports and accountings from the old manager for 6 months makes it more challenging..

Hi all

Year End Wrap up #s


LOTS of savings!! the hard work paid off. I saved $53012 OUTSIDE of my 401k. went to taxable investments, ROTH or HSA
Also got $200k from family.. used it to pay off 6 homes and put almost $80k towards investments

GOAL RESULTS and Networth chart attached

I will set 2016 goals tomorrow..and work on rental year end #s

Also want to track my personal costs like others are doing..

RESULTS FOR End of Year 2015
1. $15k rental EF=-DONE
2. $35k increase in savings/investments-DONE
3. 1 Roof for 6 homes-DONE
4. Decrease negative cash flow on rentals by $400/mth-$356 INCREASE
5. Stay within maintenance and vacancy budget for all rentals-OVER BUDGET
6. Make all 6 homes/3 units payments-DONE
7. Fully fund Roth account-DONE

Hi all

We got default judgments on both tenants. which means we get immediate possession

1. first tenant has already paid over $1300 to get caught up and formed a plan to pay the rest by 1/8. We still retain the right to remove her at any time up until paid in full. Mgmt company is adding legal fees to her bills too. MUCH lower legal fees w this company
2. 2nd tenant says she is moving by the end of the month. We will wait to engage the sheriff until then

struggling to put as much into savings to reach some goals by year end..

Goal (not on left yet)

200k 12/2015
300k by 12/2016
400k 12/2017
475 6/2018

Just a happy post today

I am reading through posts waiting for a call to start at work and I just wanted to say thanks. It is so nice and motivating and inspirational and educational to read the posts, learn from others and hopefully support each other along our journey. It is particularly nice to 'get to know' folks from their posts. see their ups and downs. look back to earlier years or remember them and see where people are now.

I really value this saving advice forum and am glad the 'team' is back maintaining it and we are going to be around for a long time to come. I can not wait to see what somme of you guys (me too) do towards your goals and it is SO rewarding seeing some of you (already in my short time here) REACH your goals and move on.

Rachael

Hi all

Starting to think on next year. Work gets really SLOOWW after mid next week because we have what we call a 'freeze' when no infrstructure/network changes can go in and since that is sortof what we do work slows down and people leave for vacation.

As a contractor I pay for my own vacation so I typically take off less but have easier days while everyone is gone

Anyway.. I have set my 401k up as 25% of each paycheck.. my first goals will be to fund the Roth and the HSA and then any savings will go toward investments. i am currently investing in the Vanguard Admiral stock index fund.. pretty standard and low cost.I have my 401k and Roth in the same fund too. I did take a position in a health care stock fund (Vanguards too). this year I may put 20% of my portfolio into bonds too or rebalance my portfolio so 20% is in bonds and the rest stocks. I am only 45 so I may have only 10-15% in binds. We will see

Any suggestions for any good bond funds at Vanguard?

Thanks all

Hi all

I met with the new property management company face to face to sortof review 'month 1' and make sure we were on the right track. It went SUPER WELL. I feel reassured, informed and more confident in their processes, procedures and professionalism

I also think I am looking at 8-12 weeks of smoothing out tenants (we are likely removing 2) and to get through then backlog of minor repairs that have not been taken care of and then i think it will definitely smooth out and get more regular..and I can COUNT on the $$. Wow..I can already count on a certain amount but with this backlog of repairs and dealing with bad tenants it does not feel smooth

They are already doing things to improve processes at the rentals, working w tenants, doing small things to improve the properties. Cost of 'work done so far' has been reasonable and well done. Makes me feel I am can start to relax a bit with them. they pulled up the online system at the office and showed me how to access some things and how to submit requests myself. I got a little more access and understanding of their system. What is neat now is how I can login and see what rents are in, tenants notes, event history all of that.. all documented, repair orders, costs, when fixed AND they are going to start sending pictures before and after (not the super minor simmple repairs but other repairs or replacements )

We also talked alot about Section 8 and why I got so turned off on it and the issues I was having. mostly excessive repairs (which may have had a lot to do w the property manager). they say they have 45 Section 8 tenants and have no such issues (they did when they were new_)but they have learned the game and have RELATIONSHIPS w Section 8 they also said that certain houses lend themselves more towards Section 8.. not just neighborhood but type of house.. like simpler newer homes.. one storey etc

Anyway talking to them made me feel they could get GOOD Section 8 tenants and control costs and that that was an idea worth looking at again for some homes. THey also have a system of tracking repairs and 'condition of the house' so for example if a Section 8 inspection this year turns up (fix a, b and c) and then next year they have new items to fix.. they refer to those as tenant damage (as applicable) as they were obviously fine in the first inspection. That was one of the most irritating things. having items that I had to fix that were caused by the tenant and not getting reimbursement and excessive unjustified repair costs

they also talked about they DO plan to stay in this for a long time and are bringing their adult kids into it. they do not plan to fold the business anytime soon

I really like how things are systemized and have a process. I toured the new office, met everyone, they doubled their office size..

just all good. feel better and good and looking at a property for $40k and one for $60k..and I am definately listing as a goal for next year selling that big Victorian and moving on to a simpler property but with similar cash flow.

I like learning and I feel sortof surprised, amazed that it is really appearing my 5 year plan is going to work! 29 months to go.

HI all

Been swamped and struggling with what to do with a personal relationship... have not figured it out yet.

Anyway. back to finances

new property manager still going well. some bumps in terms of communication but overall much better. We have a face to face meeting today to check progress after month 1 and I will talk about communication etc expectations. I feel confident we can smooth it out.

Meanwhile they are MUCH tougher with rent and faster to serve 5 day notices and get people on track which I like.

STILL smoothing out which is upsetting but necessary and hopefully this will be the last time.. We are doing 5 day notices on 2 tenants.. both the old property manager put in.. both fairly new. one is that tenant he put in after 4 months of searching or 'not searching'.. whatever. Anyway I feel good these people will put BETTER tenants in faster.. Hopefully that is the case and I really feel it is.. very happy w new 3 unit tenant

The Victorian I was going/am going to sell next year/this year.. I just got a good comparable on it. the house across the street just listed (not sold) for MORE than I was going to list mine at and mine is larger etc.. so hopefully I can get the price I want for mine but really I do not have a lot in the property so just want to move on.

Section 8 inspection over there went well. much smoother.. lower cost.. LOWER stress.. we have another one this month on this other house

We are also going to have to turnover 1 unit in the (2) 3 units. and will look to do so for the $50 upcharge we did last time.

They moved in someone within 3 DAYS (of old tenant move out) to fill that first 3 unit vacancy!!.. so almost no downtime. minimal cost to fix up. just great

Hoping that repeats itself.

I have now determined I can NOT refinance out of this loan for some time (my main house loan). so committed to sticking around at least for a few years.. house is a nice ranch.. large lot. updated.. great area. I have my big fence up so private.. sortof like a 'compound' and house has all I need..

I AM paying $450 more a month on that mortgage.. .. started this month

Goal is to get under $130k by 6/18

I also talked to the 3 unit seller (I have a seller held mortgage) and re amortized the loan to pay it off by March/April 2018. With the payment being due on the 15th and the automated system w the new property manager only sending checks the 14th and 28th. this requires me to keep $4k in the account as overage. I am doing that this month. After that. I should be able to pull cash from the account each month and still save on the side. Overall savings goal is $5800 a month towards my investments funds or to fund ROTH IRA and HSA. I will also contribute to the 401k

I AM getting renewed at work which is HUGE (but paperwork is not in yet so not counting chickens until hatched/signed)

So counting my blessings.. still struggling getting these homes/units under control but feel I am coming out on top and feel good I am with a company (property manager) that is professional, cares about the upkeep, is finding good tenants and cares.. ie wants to do well and HAS SYSTEMS in place to do so.. I can tell tenants already respect them more.

I feel my goal of $8k a month NET passive cash flow is in reach. I am still challenged by the $400k by 6/18 but definately in reach too and still need ideas to get the mortgage (main house) under $130k by 6/18

I feel am going to reach my goals.. maybe I can even go full time sooner. I am liking my job. I work at home. and do well. full time will pay $105-110k and comes w 3-4 weeks vacation. why not? or take something else. I want to travel, do stuff.. live while I am young.

I am excited to do 'year end math' and see how I did in all areas.. I know I was way over with vacancy and repairs for the homes but tracking (and new management and learning) is the first step to improvement. I have approximately $400 to go up in rents still that did not happen this year.. (below market rents not just renewals) so if these people move out and at least 2 of them are next year.. I can raise those. this will also mean rehabbing the last 2 homes (if I do not sell one first) . It feels good to have the homes up to a baseline (the ones I did do) and just in general things more under control. By the way. I am now looking for LONG TERM tenants and to keep good tenants. this year poorly handled turnover, legal costs etc, rehab due to new tnenants was my largest expense! Here is hoping that takes a dramatic turn for next year w the new management.

Onward!!

HI all

More property manager updates.

The unit that lady is vacating at the end of the month. We already have it rented!! for $50 more at a bad time of year which means I can look to get that on the other units too as folks move out (not wishing anyone to move out)

On a another note.. 3 units and 1 house have said they had been trying to call the OLD property manager for months to get things fixed and gave the new manager lists of (mostly small) items in these past few days. I will get an estimate UPFRONT from the new property manager to get these things fixed but I do not understand how that old property manager keeps business. . I estimate around $1000 or less for all these old misc things. What was the old property manager doing for $2500+ a month in repairs?

We will never know

Moving ON!

Payments with the new property manager are fixed (system-sent) on the 14th and 28th but if the 14th comes on a weekend as it does this month, money gets deposited on the next Monday

My 3 unit payment is due the 15th so I may start to have to leave money in the account every month to cover that in case the 14th falls on a weekend.

Still seeing how this new company works but good so far!

Still want to buy 1-2 more properties and maybe adjust my mix of homes next year.. it is really feeling like my 5 year plan may just work out and it will be amazing if it does. I mean maybe in 6/2018 I can have $8k cash flow/month and $500k and then maybe work a lesser job or THIS one but without the stress of 'having' to make money or can go full time and get 3 weeks vacation..maybe I can ask for 4?? I can put all my money from my job towards savings and live a little. trips etc..have fun... volunteer.. exercise. hike.. see all the national parks.. road trips .. just wow.. sortof be a NEW LIFE. Right now though I am still working as hard as I can and my continuing focus is on achieving my 5 year goals on the left... still a tall order

OH. got turned down on the last conventional loan. so getting a refinance right now is OUT. I will pay $400 a month more on this loan and revaluate later. My loan adjusts 12/2019 so I have time and it is tied to the 1 year LIBOR (2.5 points over that) but after 5 years it adjusts every year. My goal is to get this paid off in full by sometime in 2020. Rate right now is 5.375 so actually if rates stay much the same or even go UP my mortgage rate will either stay the same or go DOWN

Hi guys

I invest in a ROTH IRA right now (to the max I can) but there is a ROTH 401k option at work (have $ withdrawn AFTER tax). What do you guys think on that

General question is what are everyones thoughts of investing pre vs post tax.. I know it has to do with taxes in retirement . if we expect them to be high or low

If you invest POST tax can you withdraw at any time (like in a ROTH 401k) or still have to wait for the age limits

Thanks

Rachael

I can not be MORE THRILLED with the new property management company. GREAT COMMMUNICATION.. All rents in (except one which they have already followed up on) and just intelligent plans to rent, great ads, just wonderful

Doing major ad cammpaigns, nice office, met all tenants already except one (sending out new leases next week).. .

I can finally GROW my holdings and have options.. or can just stabilize. Someone is moving from the 3 units Nov 31. they already have it listed and are getting calls.and they think those can support $650/month .. $50 more than what I get now

Hoping for smoother waters and more growth ahead!!!

I mean just maybe my plan is going to work..currently on target to get $6,400 monthly NET cash flow a month startting 6/2018 (assumes I prepay 3 units to pay off then too) and rents will likely go up by then.

I will work on stabilizing repairs costs

SO EXCITED!

Hi all

You know I sold my 2008 Tahoe this year because it was too expensive just to let sit all the time. I think I sold it for $22k. At that time I worked an hour away and could not justify drving it except in snowy times . I loved the car and it was sad selling it.

We also used it as the primary for my non for profit for events, donations etc and without it (and the death of a volunteer we used often for transport) we have been kinda stuck and I have been missing an SUV

Anyway a few weeks ago I posted for my not for profit that we were looking for an SUV.. 4x4 .. used over 100k miles... trying to get something for around $5k. Someone responded who owned a dealership down in Ohio and said he had a 2008 (that was his) Suburban white LTZ with all options (and more) and in awesomme shape that he was selling. 128k miles.. He would sell it to us at $13500.. value is over $20k and he could finance. I had someone check it out and it was in great shape, dealer maintained, new high end tires even

Anyway I took it and it arrived over the weekned. I LOVE it.. I will pay likely 8-9k and taxes and let the rescue pick up the rest.

Do not like going into debt but love the car and the deciding factor was the price. Even if I drive it through the winter or for several months I can still sell it for more than I paid.

I am not lowering my savings goals so just need to pick up the pace to get this paid off asap!!

Hi all

FANTASTIC job news today. I got renewed for at least a year 'maybe two'.. 'as long as there is work (in this certain unit) you have a job" my boss said.

Wow. hard to beat that

and now I am attached to the largest client they have that we renewing for another 5 years.. this is a client I am trying to be the main liaison for and might have a good job at that especially since they are based in Naperville too.

Thsi means I keep my $57 hour... keep getting paid for every hour I work and keep the 3% INSTANT VEST on the 401k and can work overtime as needed. Currently we are waiting for this big client to sign the renewal but once that starts I should be seeing some extra hours again

I currently only work 42-45 hours and actually even if they sign this week. we are heading into the 'freeze period' (information technology freeze on changes and a lot of work) so likely will not see a bump in hours until next year but WOW!!

HI all

This is day 2 of the new property manager but will share on that later

REFINANCE BLUES

1. went to 3 lenders so far and we seem to be stuck on the Fannie Mae rule that states if you filed for BK (which I did ) AND had homes that were later foreclosed on that were discharged in the BK then your waiting period starts from the BK not the foreclosure. BK was 8/11.. last foreclosure (the date the deed actually transferred) was believe it or not last year!

This rule was to aid people who filed for BK and moved on from homes and the bank took years to actually foreclose (or the courts were clogged)

I FIT that rule but it needs to be manually underwritten and I am having hard time finding an underwriter who understands the rule much less wants to apply it

So 3 strikes and it is with one FINAL lender. a friend of my CPA.. if he says 'no' i am out. I will not refinance this year and will wait.. my loan is a 5.375 arm right now and does not adjust until 1/2010.. Maybe I will have the house paid off by then!! I may look at FHA next year but may not as I do not want to pay the FHA premium

I am also going to contct the current bank and see if they can refinance me .

anyway that has been 'the refinance update'

I maxed my 401k for the year!!

Hi all

Just posting some updates

1. maxed out HSA (this is my first year. will use that as a retirement savings vehicle)
2. maxed ROTH and will have finished the 401k max on hte next check

Big items for next week

1. figure out health insurance for next year.. I am w Blue Cross Blue Shield on a high deductible plan but apparently plans have changed and pricing as gone up. crazy!
2. I will hear on the refinance next week.. hoping for good news or 'easily resolvable news'. I DO NOT expect a full approval but hoping for conditions I can meet or explain/. rate locked at 3.125 w all costs met and they may be able to use my appraisal from last month (savings there).. h ope to close this month. and then will be done w the refinancing

* I am still bothered by the dog next door (barking).. but it has faded and still hoping these people will move. it is no longer an all day thing I just do not like it at all.. and do not like them..I need to turn my focus elsewhere as I am not moving anytime soon. if I had good relations with them I would likely not be bothered but just have a general negative feeling and sense.

3. I will do the final settle up with the property manager and the new one will start contacting tenants. VERY nervous w the switch.. really need to find a good stable management company.. who can find good tenants and provde good management repair services

I am working on a this life balance sheet I got off a lifecoach website. want to be more balanced. healthier and not just be working for an end. I want to enjoy the journey too

Love the fall and plan to be outside today.

Rest of the year finances wise. my only goal is to save as much as I can and work w the new property manager to get a sense of control and stability.

In 2-3 weeks I will request my renewal at work so these next 2 weeks will continue my strategy of being as entrenched in my current projects as possible.. getting this reenewal will be a HUGE weight off my shoulders. HUGE!

Investments are down along with probably everyone else's but just continuing to do the same thing and feel good that buying more at low prices now will add up when the market does turn

Hi all

Some of you may know I founded a cat rescue.. largest in the county. Anyway. I only personally foster or take the hardest cats. We often take special needs cats in because we hve the funds and expertise to do so.

one of the things that has kept me busy these past 4-5 months is rehabilitating a 13 yr old kitty (abuse/neglect case) that had her neck broken at c6 2.5 years ago and then was just let lie there in her bed in the same position for 2.5 years being turned 1x a day. no xrays ever taken. no paid meds.

Anyway I was able to reclaim her in I think April May and have been getting her in shape w help from a neuro, chiro, rehab person. I had another similar cat so had a quad cart and had this retrofitted for this cat.. also made a bowl attachment for the cart... and had someone make a 9-10 foot chute with 1.5 foot high sides so she could walk and learn to balance. Last week she was walking that chute without help 15+ times a day and doing other exercises... gained 3 lbs, got her on a schedule w her box, looked great, purred, able to situp, stand for short periods etc

Unfortunately she had skin mites and the dips etc were not working so we did ivermectin Wednesday... not an overdose.. correct dose and then clindamycin for her skin infections.. immediate reaction of bad diarrhea then 3 days later started having shaking, uncontrolled movements, stopped eating, drinking.. and wailing in pain 24 hours a day. We took her off meds, gave her pain meds and antiinflammatorys and force fed and put her on fluids. Been on the phone to vet or seeingn vets for help ever since. Vets have never seen such a reaction before to these meds and said it did not strictly look like an Ivermectin reaction as other factors showed up too. holistic vet had never seen it either but felt it was a reaction to the combination of medicines and her stress level. Lat night the holistic vet gave her something to help her calm down and said it was up to her (Mandy) to pull through . This morning at 3am she passed. I was with her. Ivermectin has risk factors online wihch is why the dose is watched so closely. vet dosed 2 cats that day. The other one had no negative impact.

VERY SAD.

This post is for Mandy.. my sweet little girl.



*picture not showing up, if someone can tell me how to get it to show up you can see Mandy. picture is .jpg and less than 100 x 100

HI all

Few updates

Found someone else to do the refinance with. the file is w the underwriter. fingers crossed. I can get either the same rate 3.25 with OUT many closing costs cover or a slightly lower rate. I SO MUCH want to be out of the refinance.. having to get a new loan every year business!!

Settling w my old property manager. his paperwork and reporting is not very good. even he was not able to justify numbers..he came to our meeting with a stack of papers and we both used calculators for 2 hours.. but we are working it out. VERY high expense numbers again this month ..but that should smooth down

November 1 starts the new property manager. Hoping and thinking that works out but scary leaving and having a change in that area..

about it for now

DID look at homes in high B areas and still lots of REO or foreclosures (some in good shape) so I CAN swap out my homes in C areas for high B areas with less differntial than I had hoped. and may be better long term..

My birthday is TOMORROW!! 45..