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Archive for October, 2015

Real estate tax dispute update

October 21st, 2015 at 04:05 pm

HI all

got some preliminary tax dispute results. I disputed taxes across all my rentals. 6 homes and 2 3-units. i currently pay approx $18,500 a year in taxes. I have no experience in this but was hoping for a $3600 decrease. Got an email from the attorney (she only gave me the NEW assessed value) but appears based on the new assessed value I got a savings of approx $1250 across all (she sent a letter with full details and the translation from assessed value to amount saved). Anyway she gets 1/3 of the first year savings so if my calculations are right (had to get current assessed value and tax rate of the city website) then I owe her approx $400.

My personal residence is up next month (court) so hoping for a big decrease on that.I currently pay almost $10k

I think it was worth it. but looking forward to actual numnbers she calculated in case mine were incorrect.

This tax decrease on the rentals raises my profits approximately $100 a month for this year and on.


general money updates, almost the end of the year

October 18th, 2015 at 03:48 pm

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

A post for Mandy, non financial news

October 16th, 2015 at 08:22 pm

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.


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

6 homes and refinance updates

October 14th, 2015 at 04:34 pm

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..

Rental updates, Dad, not for profit

October 1st, 2015 at 10:19 pm

HI all

rental updates. All units filled. (thankfully)

Existing project manager has taken price gouging it appears to a new level after my giving notice. I had to speak to an attorney and really just out of control. I finally got him to stop (I think) just removing whetever he wants from the rents. We are supposed to meet this week on over $2000 (OVER TWO THOUSAND DOLARRS) of unauthorized, unapproved, repairs that I had no knowledge of. Attorney says to just settle, not worth it to sue and hard to prevent him taking the money on such short notice without disrupting rents. Crazy.

Anyway. swapping homes on hold. too much going on. person who runs my not for profit has been in the hospital this week and may need an angioplasty! and be out for a a few weeks. REAL bad news. not set up to run this in her absence very well

Dad doing well but steady decline. now it is hard to hold his fork so he eats sandwiches, he thinks he works still and gets $9000 a month. We normally go along w him and do not contradict just 'redirect'. however this time (as he asked me to go over his finances) it was awkward and sortof accusatory as the $9000/month was not in his accounts. Stressful. Facility says to keep conversations short on finances, do not bring it up, if he asks reassure funds are safe etc etc.. and redirect. They said accusations, suspicions are common. Uncomfortable.

Anyway. I am grateful I am able to contribute $2k a month to the 3 unit fund (payoff w $69k in June 2018 and I already have $4k saved) and save even more after that. Still paying back various funds for the 6 homes but feeling better

REALLY praying the new property manager is better and he should be. main issue is renting these harder to rent ones (which we just did and this new manager is definately going to be better at I think) and stopping unnecessary or made up or just 'unknown' costly repairs all the time. New PM notifies me w costs of ALL repairs up front and takes photos as his NORM. He also logs all tenant calls

New tenants both look good . both have family and friends in the area and both want to stay a long time

Hopefully that is the case.

Existing manager still has not renewed those leases. What is he doing.

Just his quality of service has gone way down

I only have 2 section 8 homes now.. vs 6 originally. this should cut some of my repair costs too as I was having to have yearly inspections on all before