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6 homes are being paid OFF!

August 18th, 2015 at 12:42 pm

Hi all

Gift came through

I am paying off the 6 homes this week. Already sent the $120k check in and will 'close' Saturday so I get deeds etc. I have to come up with approx $10k and am doing that by cutting into the personal emergency fund a bit (I will owe that fund $2k) next month and using some of this crazy money I am making lately.

Very thankful and excited and also feeling even more like I have to get these 6 homes under control. This is a big part of my future

Got references from new property manager and need to call them

We are right before 'Go Live' at work and yesterday I worked (non stop) from 7am to 11:30pm. did not leave the house. VERY long hours and hard to do much of anything else. all of htat is crazy tense fighting issues and trying to 'save the go live' or long executive decision calls

Anyway.. happy grateful. WOW.. sortof shocked.

Now got to continue savings (all I can) investing well and paying off other debt. If I can get up $68k I can pay off the 3 units of JUne 2018. My plan is to do so.

My refinance on the house is progressing. appraisal Wed and mortgage guy is trying to close this month. That wil not cut my payment too much but will cut the term. This will be my last refinance (thank the Lord!)

I am hoping to get a few thousand back on the 'loan swap'. The reason is my prior loan required 6 months escrow. this one requires only 2-3. all of that will go towards principle.

Onward. got to start working.. crazy.

Posted in 6 homes-rentals, Musings | 8 Comments »

8 Responses to “6 homes are being paid OFF!”

  1. AnotherReader Says:
    August 18th, 2015 at 01:04 pm 1439903059
    1439903059

    Wow, just wow! From where you were three years ago to where you are today is an amazing story. Keep doing the smart things and you will be FIRE'd at 50.

  2. CB in the City Says:
    August 18th, 2015 at 01:52 pm 1439905955
    1439905955

    Wow, that's amazing. What a generous gift, and you have used it so wisely!

  3. SecretarySaving Says:
    August 18th, 2015 at 02:34 pm 1439908443
    1439908443

    Wonderful news! Congrats!

  4. creditcardfree Says:
    August 18th, 2015 at 03:21 pm 1439911266
    1439911266

    So excited for you!! Reading initially I was thinking this was the money to pay off ALL your rentals, but this is just one of your properties I think a 6 unit rental, right?

  5. Rachael777 Says:
    August 18th, 2015 at 03:51 pm 1439913106
    1439913106

    Money went to pay off the 6 homes which were always referred to as one entity as they were bought as a package with one loan wrapped around all. So the 6 homes are being paid off SATURDAY!! and I am going to get these 6 homes under control and smoothed out. I should be getting $3500-$3600/month after they are paid off.. pretty much all of that will go towards savings. Right off the bat though I have to pay back my personal emergency fund $2-3k to make up for what I took out of it for the payoff. So excited and hoping to capitalize on this little (large) boost up.

  6. VS_ozgirl Says:
    August 19th, 2015 at 07:39 am 1439969999
    1439969999

    Really great news! Congratulations on being given this life-changing gift!

  7. livingalmostlarge Says:
    August 20th, 2015 at 01:11 am 1440033102
    1440033102

    wow congrats! Can I ask what it's from?

  8. Rachael777 Says:
    August 20th, 2015 at 07:10 pm 1440097834
    1440097834

    My Mom's twin sister. My aunt. She did very well in the stock market over the years and decided to share that. They live together in Phoenix.

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