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More property mgr updates and Loan Denial

November 10th, 2015 at 11:34 pm

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

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