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Feeling a little down this am

October 22nd, 2013 at 12:49 pm

Hi everyone.

Feeling a little down this am. I get this way when I am overwhelmed or 'stuck'. I found the Dave Ramsey book (good easy reading and sound advice) made me feel I am not doing enough. On top of that one of my 6 homes has a vacancy that we are trying to fill for the first but have not 'nailed someone down yet'. Feeling stressed. I do have 3 months 'vacancy built in' across the 6 homes but feels bad to 'use it'. In either case.. also $1200 costs across the 6 homes last month and the fix up on this one (we sortof threw this lady out.. good move though.. just wish it had not happened this time of year).. .. anyway the fix up on this house is probably near $1000 too.. but I am keeping her whole security. Just upsetting.. lots of costs this month.

Anyway.. Dave Ramsey (and folks here) have given me lots of motivation to Track my Money which I am still not doing and to get 'gazelle intense'. I have basically 2 debts .. the car $20k and a warranty on this other car.. proobably less than a $1000. Also building the emergency fund to $16,000 (only have $2k).. and feeling stresed that I still can not log on to that Obamacare website (has anyone been able too.. insane!)

Anyway .. thanks for listening to my rant here a bit. I need to focus on the positive and will see if I can write down some positive things each day or when I am on a 'high'.. so I remember them for later.,

I am wondering if I can pay off the 6 homes, 3 units and a HOME (my house 'short refinance' has not gone thorugh yet though. no definitive word).. in 5 years.. maybe extend the house to 10.. but want to build up more cash. Feel my income is tapped out. I do well but when I worked before (5 years ago). I made $20k more. I work in network project management. Contracts are less now a days and this job I can work at home..

I think I need to destress and relax(have this not for profit that I need to close and it has been weighing up me for literally years (95% of my stress comes from that) and work has been crazy this past month)

Have a great day everyone.

6 Responses to “Feeling a little down this am”

  1. CB in the City Says:

    Wow. If I'm reading this right, you have nine rental properties, a job, and run a nonprofit? No wonder you're stressed! Definitely take some time for you!

  2. Rachael777 Says:

    Thanks. It does sound like a lot when you mention it.. Got to SIMPLIFY (homes are managed but I need to develop a systemized way of handling them. with work being swamped and all .. got off track there)// And yes got to get rid of that not for profit... talking to other groups to take it over

  3. momcents Says:

    As someone with rental properties and a husband who has managed rental properties, from what I read, you are feeling insecure about your situation given the vacancies and costs associated with the rentals. I would suggest building up your funds to bring you the security you want. It sounds to me as though you need more capital and be willing to part with operating expenses.

    Hang in there. I would imagine having smaller goals that you can achieve is more of a motivator than anything. I'd be depressed to if I saw that I needed $16K and only have $2K.

    Also I would start tracking your expenses. The small things can add up.

    And BTW, I've been a bit bipolar about my own money in the past. Getting my husband on board helped a lot. Then I had to figure out what made me feel the most nervous (DH, sole breadwinner, unemployed scares me the most). And with unemployment soon a real reality, I took comfort in running the numbers and having a plan. We're now on a cash-only basis and while I realize that I need to spend money, the choices on how I spend are given thought and consideration. (Like having winter weather coming, and three boys in need of clothing - outside of their uniforms - is a bit overwhelming, and we have a wedding and the holidays coming up, that adds more stress. But, I'm scouring the adds and have an Old Navy coupon. It all gets done.

    Hang in there, hope that today is ends up better.

  4. SecretarySaving Says:

    Ever thought about selling the houses and be out of debt?

  5. Rachael777 Says:

    I just got the homes and they are for rental income. The reason I got them is because I am 42 and not able to save millions of dollars at this point so for 'freedom' felt the way to go was to create monthly income. When the homes are paid off (4.5 years from now) they will give me between $3500-4000 monthly income (with current rents). The 3 unit (not bought yet) will bring between $2300-2500. My goal is creating $8000 monthly income. It will be hard and it is stressful (trying to systemize so it is not) but I believe this is the way to go.. and I 'hope and pray it is'. THANKS. Smile

  6. pretty cheap jewelry Says:

    Honey, you are SO ahead of the game - big CONGRATULATIONS on big investments. Keep that big dream in mind, put a picture of your beautiful dream retirement house on the bathroom mirror. We have one rental house, also vacant for the past few months, also screening people through a fine seive here!! Holding on too!!

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