Hi all

I have been quiet here as I have been in major job search mode and after so many disappointments did not want to share news until I had something. I DO.

$57 hour plus INSTANT vested 3% match.. at my old company. either work at home or in Lisle (10 minutes away tops). Contract for at least 1 year but they are already talking full time. This is the largest financial services (to banks direct) company in the world so a great place to land full time if the pay is right. I am going in as a senior project manager working directly for the office of the CIO. I give notice Monday. Job is for a senior PM so have to look at payrates etc.. but either way.. GREAT NEWS! also JEANS when I go to work. all good!!

6 homes going great
3 unit transition going great. feel really good with the property manager I have and we are working so well together. this year the goal is to raise rents across all the 3 units by $4-500 a month. this will completely close the negative cash flow gap! PM has already talked with all tenants and we have 3 that look bad or iffy but it is in the plan to turn over 3 units. HE is getting better rent collection though on these 'iffy' tenants then the old PM.

He sees the apartments as I do.. very nice easy to rent and can definitely see the increased rent potential. We are looking for $630 for existing folks and $650 or more for anyone we turn over.

feeling really good. speech is coming back.. less stressed.. real nice day out. all is good..

other stuff. need a new pc.. $350-450? .. old one crashed
new job pays the 15th and lsat day of the month which means my first paycheck from them will not be until the END of February. I currently get paid every week. the last check from my existing company will be Jan 30th so I have essentially 4 weeks with no paycheck. I need to figure out how to do that and not draw from savings etc

I feel energized and alive with the new job opportunity. 401k option again with match and being on track w the 6 homes and 3 units..

April 2015 marks 2 full years of the 6 homes. only 3 left after that on the current pay schedule but looking to move that up

Goal now is to pay off the 6 homes by 2/2018 or 3/2018 vs May, 2018 or with my newly gained more free time (with the new job) exploring options to get a larger lump sum and pay them off years early

I now can make decisions on the Tahoe soon too with the lack of a 100 mile roundtrip drive every day

Life is good. onward

getting new PC today hopefully

the month of no paychecks is likely to impact my savings for this month and next month.. trying to minimize that impact

Checking in.. Clarifying goals for the 'not for profit, personal goals and financial goals tomorrow. I work at home tomorrow.

Still at that job but kicking up job search again thsi week. I am in for 2 jobs. fingers crossed. Got word on another work at home last week.. called.. submitted and then put on hold. Crazy!

6 homes property manager officially took over the 3 units on the 1st. VERY excited w him and encouraged but Very disappointed with old 3 unit manager.. apathetic towards rents, costs way overbudget, dishonesty.. etcv

Anyway.. LOOKING FORWARD.

She put in a problem tenant that she gave $20 off too (without asking) and that tenant is now not paying rent and owes $746 + late fees + this month rent. We are doing a 5 day notice tomorrow am and my guy has dropped by 3x. Upsetting but 'part of the business' and 'part of smoothing' things out. I forecasted turniing over 3 of the 6 units this year due to raising rents so this is not 'out of the budget' totally.. .though the back rent is.

I find out tomorrow which rents are inm at the 6 homes and 3 units. One thing I like w this guy is that I have certainty w rents and information.

I am also thrilled that I am managing him and the costs better.. Feeling very good.

Work is 'ok'.. my speech has taken a major hit w the stress at work. tyring to get it back. If I was not so threatened at work I could stand it a few more months. even the 2 year term (but likely only have work thru June) just every day is SUCH a nightmare right now w layoffs, and so high stress and hostility.


I will petition to work 5 extra hours a week again starting next week.

Not for profit cat rescue is coming together too.. setting goals and managing people and finances better. Tough 'health' month.. Lost 3 kittens..FIP, lost 1 adult..liver/anemia issues .. and 2 kittens have ringworm. Crazy days but nothing we have not seen before. BIG #s this year and lots of volunteer engagement. I have our annual party this Sunday with all (most) of the volunteers.

Other rescue who wants our cage bank (we have 3) says they will have the $ in 3 weeks. Fingers crossed.

Have not sold the Tahoe or really tried too. Hard for me to list the Tahoe when a snow storm (like today) could crop up any second and my job depends on driving 100+ miles a day.

I will either hold off on selling until March or see if I can figure otu another 4 wheel drive option for snow days.. I can get an older SUV for $7k.. still in good shape...and the rescue is primarily who needs it so can kick in something. I WIll be selling that Tahoe at some point soon.

My boyfriend grew up on a farm and is one of those crazy handy types and an engineer. He is also 'more practical' then warm(?) with his gifts.. He got me that snow blower for Christmas but then what was super nice. I am Christian. he got me this super nice house thing from a Christian store and (drum roll please). I had just lost that adult cat (very sad upsetting case.. I only foster the tough cases so I lose more than most) and he built me a kitchen in my 'back-back room' in the basement. I have a 3/4 finished basement and 1/4 unfinished.. The unfinished side is 30x 17 space unfinished (its own room). he carved out 10 x 17 of that. installed cabinets, sink, mini fridge, microwave, lights, counter top.. very nice. I am going to paint that tomorrow or something. This will make it much easier for the next hard case so I do not have to run up and down the steps to the fridge, microwave, blender. I can just hang the sub q fluids. Easier to clean, isolate all sorts of stuff.

Made the first payment on the new home mortgage!

Onward. I so enjoy reading everyone else's info and updates.

hi all

This is the first of probably a few posts as I go through the numbers

General results this year

1. $40,207 total savings (went to Roth, rentals, emergency fund and investment savings) .. still .. wow.. lot to save!
2. $249,882 increase in networth off of last year-mostly from primary home ownership and rentals
3. only $1099 OVER yearly budget for rentals for maintenance/repair and vacancy budget. BUT did lots of long term repair items this year.
4. $31,595 in long term improvement to rentals-includes 2 new roofs, fixing 2 roofs, water fix at that one house, and updating 2 homes and updating 2 3 units
5. $220 DECREASE in negative cash flow over last year on the rentals
6. ABOVE decrease is primarily in 6 homes. 3 units had INCREASED negative cash flow to budget

Will study some more and list accomplishments. trying to diary the journey. this was a big year..

Set some new financial goals to the left

I get my next free and clear house 2/2016

My main goals continue to be to smooth out the rentals, keep my job and have enough cash reserves. there is no leeway in 6 homes/3 units payments and the deal was signed assuming I would NOT have a primary mortgage payment until 2016 or later. That is why things are so much tighter than expected.

Need to rebuild rental emergency fund to $15k asap and considering increasing the personal (lose my job) fund to 4 months which would be $14780. 5 months is $18475

Need to sell this Tahoe

Rescue interested in the cage bank has not been in touch lately and I am thinking they are struggling to get the funds. I put in a call today.

Hi all

feeling better today.. almost Christmas too.

I have been wondering why I am so much 'shorter' this year. I took off time last year and felt good about it.. this year I need to impact savings to take off and am only taking off a few days.. but it is good for the soul to have rest and take off from thsi insanity

Anyway last year I had no mortgage and full income from the 2 flat.. so I must have been rolling in cash

I want THOSE days back. haha.

3 unit update. Talking to the NEW property manager (that has the 6 units) felt very good with our talk. he is calling people next week w transition info and sending something out

No blips in 6 homes and I PAID off the roof and gutters so I have done an insane amount of upgrade/fix up work on those 6 homes and survived (and saved some)

Next year we may have to turn over a few of the 3 units which is fine.. if we can get them turned over quickly w good tenants and HIGHER rent.

I discussed the issues now w the 3 unit so this new guy is prepared

We are not going to be lenient like the other PM was..

My phrase (said partly in jest) 'nothing is up but the rent' (from an eddie murphy movie) and the old PM was very bad with collections and running a tight ship.

Anyway. goal is to markedly close the gap w those 3 units so i have little to no negative cash flow

and maybe turn over 1 more section 8 house to raise the rent by $300

We shall see what makes sense and how the 3 units go

In for 3 jobs but not expecting news until after the new year

One in Naperville. One in Warrenville and one at my old company (REMOTE!! or work in local office which is 5 minutes away)

Fingers crossed.

Hope everyone is having an exciting close to the year.. can not wait to calculate results and set new goals for the new year

HI all

a NON real estate post for once!

Closed my yearly fee credit card (only had 1.5 years in it so no big impact to my credit score) and swapped it for a no fee.. low rate.. 1.5% reward card . I am charging all my food, general stuff now so I can keep track and get rewards.

Switched my retirement investments to a health care fund.. hopefully long term and getting good returns..

I will be so happy when all my 3 accounts (roth, ira and personal investment) are over $10k. One just passed the $10k mark. Definitely starting small (after the big fall) but stabilizing and accelerating

Looking forward to another possibly wild ride next year and some more increased savings. Despite the craziness this year I really felt I came out well with still managing to save through it.

Have pretty much cut costs to the bone except food and misc which this 'put all on credit card' idea will help me track and cut that as I can.

Have a good day all.

talking to 6 homes guy for roof status today (warm enough now) and the 3 unit lady to talk on that transfer and see if her renter ever moved in

Onward.

Got to get a job now.. layoffs and terminations are accelerating at work.. 5 gone last week... 2 of them on MY PROJECT TEAM.. and I was involved in the budgetting last week for my project.. main budget ends in March . I was budgetted for 45 hours but it goes to approval (I have to present it) Tuesday.

HI all

I cancelled the 3 unit property management contrct today in writing. Cancel date the end of the month. I expect to talk to her tomorrow. Contract calls for 60 days notice but betting she will not hold me to it. No word on if the new renter moved in. Last I talked to her which was Monday pm. she had the lease signed and almost all monies and he was going to move in this week

This is a REALLY long time.. to wait to turn it over and cost to turn over. $1400.. crazy!!

One of my goals for 2015 is to raise ALL rents there to at least $630..$650 each will Completely close my negative gap.

Trying to wind up the year strong .. trying to get that Tahoe sold.. and wind up some other stuff.

Roofs WILL be done this year and PAID for and I expect to be able to get the real estate emergency fund back up to at least $13k by year end (goal is $15k). I have already remmoved the roof funds from the #s to the left by the way.

IF I have to turn over multiple apartments out of the 3 units that will be a cost but I think a well worth it one with high benefits

Also may turn over one more house.. current rent $800..market $1050-1150.. section 8. That person has lived there 8-10 years and no longer qualifies for a 3 bedroom (only a 1 bedroom) so her portion went way up and she is not able to pay it long term. in fact right now.. she gets a $100 personal discount because I did not want to turn it over during the "property manager switch over-2homes vacant-esclating costs fiasco in July-August" so a few thousand there to turn that over.. but after this main updating in the homes is done (and 3 units) any future near term turnover should be less.. also will start to request 1.5 months security from now on on the 3 units. Section 8 rents are frozen due to the sequester on existing tenants so I can only get rent increases if I turn the units over.

Semi-word on that one job. they ARE going through a re-organization and the recruiter is still trying to find out info.. Meanwhile I got a phone screen for a network project manager job at a hgue Naperville company.. $56 an hour but part at home. and 5-10 minutes away when I am at work.. long term contract. I make $65/hr now.

That is Monday at 2pm. I will study up before hand.

Excited for the new year.

Have a great day everyone.

HI all

Main home refinance is proceeding as planned.. looking to get a close date in the next 48 hours and they are trying to close Monday so it funds before the end of the month.. 3 day right of rescission on the loan

payoff estimate was slightly off.. I will have to contribute approx $1050.. rate is 5.375 do you suggest I roll that in (I can) or pay it.. I am thinking roll it in as I am trying to conserve cash

Job update.. talked to headhunter. they followed up last week and were told that they should get a positive response shortly.. no word since.. they are wondering if the company is determining where the funding will come from, start date or which supervisor this position will report too or something else happened. Current job cut hours back to 40.

So job NOT in the bag yet.. still hopeful and praying..

Talking to 6 unit property manager more.. feeling satisified and in control..

Not as satisfied w 3 unit lady and may end contract after 3 months.. and switch to 6 homes guy.. she tells these little 'lies' frequently .. saying somethign just to appease me when it is not true and then having to back down from it later.. and lack of complete communication

new tenant moves in Saturday she said but this is delayed from the 17th, delayed from the 18th, unit is STILL not finished (18 days after move out.. all we were doing was touch up paint, clean carpet and clean unit).. not a huge deal but adds up and overpromising under delivering gets old.. more to share here

Feels good to learn more and grow in these rentals and be able to think ahead and be proactive, raise rents, fix up.. proactively control my net cash flow.. really feeling these are good for me long term.. just waiting for time to go by so I can get out from under this high mortgage and cash flow pressure.

I am already running $300 LESS in projected negative cash flow a month across all units then I had in year 1.. w significantly RAISED reserve amounts for vacancy and maintenenance.

Hoping to close the $450 monthly cash flow gap on the 3 units w the new property manager.

6 homes gap will be harder to close (or not as fast) .. as homes have people who have lived there for 8-10 years and if I turn them over I can expect $3-6k?? updating fix up costs each. That is based on the turnover cost of the first two. I do not want to spend that cash right now (and do not have it) so am fine w the lower than market rents and steady income

Obtaining that free and clear deed to one of the homes is in the works!

HI all

Main home refinance update.

1. have not heard from that broker after he emailed me that he was doing no more work on my file unless I paid him his fee up front. He was at 6.75 points, 6.375 rate, 5/1 arm

*I decided not to worry about that.. got too much other stuff w Dad and getting a loan, so i have not contacted him since*

1. FHA loan..Looks like I can prove continuity of obligation (title is currently held in an LLC) to do a refinance. House is in a single member LLC w me as the sole member. Also looks 'good' for meeting extenuating circumstances. I am doing a mini-submmittal to get a real underwriters opinion. IF this loan looks good I may be able to wait for this and go straight from my hard money loan to this (need 90% certainty though to wait t hat long and cut it so close)
2. one day out of foreclosure loan (this is the SAME loan that broker #1 was trying to do and then got crazy).. Anyway new larger broker FIRM (not single guy) I submitted a mini application w credit. He is sending it in tomorrow to see if we get a pre approval (he thinks we will).. news next week Wednesday.. estiamted rate less than 5%, 2 points, 5/1 arm. this broker does VOLUME in this kind of loan. they require 12 months PITI in LIQUID funds.. that is going to be a stretch and they may be able to use the appraisal I just had (but the 1st broker is specifically refusing to help me so not sure I can get it from him.. may contct the actual lender agent he was working with. THoughts??)

No job news.. applying for one more but things REALLY slowed down

6 homes going AWESOME.. got an awesome tenant for that vacant house.. costs being contained I am working so much better w the PM. the break (switching property managers) even though it cost me was a good learning experience!

Meanwhile 3 units.. I am looking to see if 6 homes guy want those too.. we just had a tenant vacate a unit and the current PM inspected it (for $40 extra fee) and says the unit looks PERFECT but yet she wants to spend almost $1500 fixing it up for paint, recaulk tub and hang blinds. Unit is 500 sq feet 1 bedroom.. Costs seems insane. I have her for 1 more month so I got a hold of the estimate and am contacting the contractor.. I need to understand if it is so perfect why do we need to spend $1500.. repainting the whole unit seems crazy.. ceilings too.. but I do not know the exact condition... will get more info tomorrow...and the same contractor painted a whole house for $1500 (3x the size) these rent for only $585 .. but I thikn they can go for more. .just riding it out.. do not have a lot of energy to expend on this right now. will call contractor, find out condition, talk to PM, make a decision and get it filled.

I see Dad over the weekend (stroke).. been stressed and swamped

Prayers for good loan news in the next several days and ENERGY and PEACE!!

Hi all,

Feeling a little discouraged.. probably because I am SO TIRED and waiting for all these things to finalize

1. jobs. submitted for probably 4-5 more. all in town or nearby. got one phone interview. no word yet on 2nd interview. got turned down on that one job. Job cycle is MUCH SLOWER this time of year.. 4 of the jobs I applied for went on hold.. Crazy!
2. Loan.. on pins and needles waiting for the 'clear to close'..I guess i was expecting it in a day or two after the appraisal. broker says it can take up to 2 weeks and they do purchases first. mine is a refinance.
3. 6 homes. I am looking at that vacant house we are fixing up on Saturday. supposed to be done or almost done.. looking to start showing it next week to rent. rent $1050 up from $1000 but may go down to $1000 dependent on reaction. this is a SLOW season
4. foundation guy (on that same house) appears to have found a solution for the lingering water issues... $1800. down from estimated $5k
5. looking to do at least 1 more roof this year on the '6 hommes'
7. 3 units property manager contract is up 11/1 (and it is w the lady who was managing the 6 homes who I jsut switched from) I am thinking of switching that to this other PM who manages my 6 homes now. I am acting different w him, different expectations, less anxiety and it is really working out great.. plus his contacts are thousands lower for the same or better job..also he is creative and has so many homes he has ads out all the time. he has already referred folks for the house we are fixing up so hoping to fill that asap

Basically my two biggest stressers are the job and the loan not being finalized. the loan is a big stresser as I want to settle and relax in the house and I am holding off on all sorts of things pending the exact numbers on that

Onward.. but resting tonight.

October will mark a year on SA and I am going to do a wrap up time capsule of the year. I am hoping it includes closing this loan!!

HI all

Appraisal is IN.. $510k. This means I will need to pay approx $13k to close the loan.. with $5100 of that being 'starter escrow funds' so this is money will get back on the next loan or house sale since full escrow is being taken every month too

The new payment is $1111 LESS than what I pay now with the mortgage (and self escrow for taxes and insurance)

I will make up the true costs of the loan in 8 months and the full $13k in 12 months with the rest just being savings. I think it is a good deal and I am locked in for 5 years and it is an arm. In 5 years I can get a normal loan. Rate now is 6.125.

Feeling good. Closing to be set very soon.

However this eats up my ENTIRE emergency fund (need to rebuild that). I am owed $6k from that guy (his bike will sell at some point and he calls every week).. and I have the Tahoe to sell. $23k? maybe I will have money left after paying off the genesis. and have a few more things to sell.. $1000? and once things STABILIZE (w the homes) I can save $1500 a month

Got quotes on the vacant house fix up thru the new property manager.. $2500.. much less than the last fiasco.. I feel good w that.. done by next weekend and then rerent ASAP. I need rent!!

Short term insurance lady moves in tomorrow.

And i need to do that French drain system to ensure that both homes are water free.. $3-5k. dependent on how involved I need.. worth it.

JOBS.. getting more and more calls on jobs. got another interview tomorrow for an AWESOME job in Oakbrook.. 2 year contract, $65/hr and 401k with match in 3 months. FINGERS CROSSED.

No news on first interview.

Onward. This appraisal coming through is a BIG weight off my mind. Can not wait to get the closing date.. hoping for next week.

Hi all.

No word on appraisal or jobs today. submitting to yet more jobs at one certain Naperville company that I will share once I get a job there!

Anyway.. short term renter is signing a 6 month lease at $1435 w it converting to month to month after that. We are hoping for 9 months. we shall see. that is a $510 increase over the last rent which will hopefully offset my costs as of late and let me start to rebuild.

Getting quotes on the now vacant house to get it moving.. goal is to have it fixed up by next weekend and ready to rent

This house needs french drains..guy who was going to do it . his voice mail has been full all day. hope he can stil do it

SUPEr swamped at work and stresed w the insane drive.. had to work 'later' today and drive was incredibly bad!

Praying for a new job (local) soon at same pay.

Onward but TIRED and STRESSED.. need a day off..or just work at home or something.

Rachael

HI all

Appraisal was today. hope it went well. lady seems a little like that guy who low balled me before. hoping for $525k. there are not alot of ranch comps in Naperville with large lots etc.. I had my property manager pull comps for me and I gave them to her, with a list of improvements, my old BPO (showing $525) etc.. she will review them. PRAYERS!!

If thsi appraisal comes out right we should only need one and can likely close week after next.

Lady who was not paying moved out today (most of her stuff) we take the house over Monday (change locks if not totally out)... I walked through today . no real damage. we will do new carpet, touch up paint, new fixtures and lights..my property manager 'all in one' guy is on vacation this week so I am having some of the folks I know quote. I continue to need to increase my list of maintenance guys, all in one guys, etc for these homes.. will make a list of what I have (and hwat the property manager has) . Good guys get busy so need more than one.

Got an application and likely lookking to finalize w that lady whose house burned down and just needs 9 months.. will hope to finalize that Monday.. $250 premium on rent.. which makes the rent $1435 (up from $925 from the last renter)

I am also going to get it section 8 approved so we have that route for later if need be. section 8 rents went wway up too..

So nice basic house fix up is done.

Will contact the guys w that french drain idea for the 2 homes (they are side by side) to finally fix the water issues .. the house that we are renting and is ALREADY fixed up is dry w the fixes we have done so far.. the house next door (that is being vacated now) is NOT dry in a big rain (which this year seems to be full of) a French drain should solve that

Praying for the appraisal to go well, the short term renter to work out, reasonable cost to fix up the other house and more money and LESS COSTS and a new job (forgot)

I hear on the appraisal MONDAY!!

HI all

NO LOAN news.. NO job news.. holiday week?? a little discouraged/

Anyway.. rents have gone way up in town.. had Property manager (PM) do a rent survey.. 4 bedrooms, of which I have one are going for $1300+.. 3 bedrooms.. $11-1200.. for the most part my renters (except for these 2 homes I am turning over) are long term folks who I do not want to get rid of right now. but they are paying $900-975 for a 3 bedroom and $1025 for a 4 bedroom. S8 says they pay $1248 for a 3 bedroom!

Excting to think that rents in general have gone up but still nose to the grindstone renting out this vacant house I have and SETTLING THINGS DOWN.. current PM has had it now for 10 days??..the showing today blew off PM and we went down on rent from $1225 to $1185.. the response to ads/signs continues to be slower (due to season).. the house next door should take a week to fix up . hopefully she is still leaving at the end of this week and then we will look to put it up for $1050-$1100..but realistically I am more than willing to deal to get someone IN there this time of year.. each week that goes by it gets harder to rent until Marchish.

We DID reach the short term insurance lady (house burned down) she needs 9 months and will pay a premium.. this puts us in a super sweet spot to rent..PM is tryig to show her the house tomorrow

And we are also going to have s8 value the house too..

Need to really screen renters for LONGETIVITY etc and ability to weeather a personal storm. do not want this excessive turnover.

Just diarying again

VERY tired..

1. no loan news.. hopoing to hear soon
2. no news on jobs but got wind of a PERFECT fit (project manager liaison between a major bank and my old company) only issue is it is downtown but looking at it anyway.. maybe it is only 1 day downtown .. they say I may travel between 3 offices. one of which is in Naperville. i am redoing my resume right now to fit this perfectly but this would be a dream job, fun, have contacts, and I know I can be a success and pays the same or more than where I am at $65/hr. I iwll not make the same mistake though of taking it if it is too far.. there are jobs out here in or near Naperville or work at home.
3. 6 homes.. positive feelings and news but no results yet. I want results and to REST.. having all this in the air makes me tired, hard to sleep etc and constantly doing job search/loan stuff at night..Talked to property manager.. he is setting up a few showings for this week (showings this weekned did not turn out.. ) also he got a call from someone who wants a short term rental.. some insurance case (fire at his house) and is looking at 6 months.. maybe more. He can pay a premium and since living in a hotel can move in right away.. a 6-9 month lease would put me in a MUCH BETTER time of year to rerent so we are considering it..PM is following up for details..ALSO got news on the non paying renter.. she is moving out this weekend, plans to pay a few hundred on move out day and we will try to sign her up for a payment plan. these are all words right but sound good. PM already has folks lined up for next week to do a quick fix up of that house and then will immediately look to rent it. As house next door is vacant now too we really want to fill that so the two do not compete against each other.

About it.

Praying for good news and closure on something.. (good closure)..

Customizing my resume for thsi job and then off to bed to read to relax.

Hi all

Just diarying at this point.

Paid the bills for this month (down 2 rents) but paid. I am saving my $3900 for now (the $ required to catch up on the 6 homes loan from last months non payment of principal). I will send it to him once the homes are filled or I know costs.. I did one roof so far this year.. trying to do 1 more.. jsut need things CALMED DOWN.

May put another $500 towards savings or more likely save it for the rental emergency fund. We are a week from the 1st w no renters on tap yet and one renter not paying. Just hanging in . Got some showings thsi weekend but overall response has been slower than normal w kids going back to school. Hoping to get the homes smoothed out soon. still very much believe in them long term and knew this would be an uphill battle upfront.. all in all not so bad.. I am only down $1000+ (rents) across both homes but what was difficult was the HIGH fix up bills etc... most necessary or immprovements (which I want) but think I could have shved a few thousand off maybe? I did not anticipate them taking so long or having another home not paying rent. Really thinking about it, I would not be stressed at all. if we had rent coming in..never had it take so long to turn over a house.. wish I did not have those weeks of playing around w the old PM and nothing getting done w renting the place, the non paying renter and my having to basically run the rehab. New property manager though has done more in this one week then old PM had in weeks so feeling positive but tough right now. I sooth myself by writing up the worst case scenario (short term and long term potential costs, issues etc) and being ok w that and thinking the deal is still good and thinking about the prize. basically 5/2018. I will have $3600 a month coming in and 5/2019 $5900 a month (more if I can raise these rents).. from the rentals.. and w flex jobs (see below) I am confident i can find a work at home job then or even now..

Anyway..onward.. figuring worst case for NOW another tough month and then filling both w good people. and RENT and stabilizing for the winter.

heard on the main home refinance. They are now down to 5.5% WOW!! 30 year term, 5 year arm (not term). which means if need be I can keep the loan long term. first change not until 5 years.Depends on lots of things.. maybe I will just sell this house before then.. not sure. House still in very good shape. No approval yet. hoping for approval next week and then appraisal. they went down to only doing 1 appraisal (good sign) and loan papers were targeting the 10th to close. rthat will be a HUGE weight off my mind. Not approved.. still need prayers.

No movement on cars .. waiting ..

No movement on jobs. got in for one more local one. no news on the first 3 local ones. .and joined FLEXJOBS.com (100% remote jobs and some highpaying)

I applied to one job thru flex jobs and will work this weekend to do more

Commute is still bad but more tolerable as I am used to it and know what to expect and have the bluetooth set up so my phone goes thru the speakers.. (neat feature). gas costs averaging $88 a week!!

Good to read everyone else's post. Keep it up guys.

Rachael

Hi guys.. still feeling good w Matt the property manager.. showings today.

Anyway. I think I made a decision on the car. I will sell the tahoe.. keep the genesis and get winter performance tires ($1300 for tire wheel package). I expect to hear on the loan so will hold off to sell and payoff Genesis until then.

I DID drive the 2011 Camry and though it was very nice the saving was not enough for me to want to switch. $17500 for a Camry Le.. without sunroof, bluetooth, heated seats.. all the stuff I like and my car works, is in good shape and is large.. so staying. I did not like the leather look in the XLE and really alot of the things I wanted were extra or not avail.I think I got spoiled w this Genesis.

I will find out this week what I owe on the Genesis but likely also selling back the warranties etc.. so if I do that it may be $15k..

talked to a performance driving instructor I know and he said winter tires will be fine and that actually rear wheel drive cars steer and brake better.. so he says weight in back and winter tires on all 4. He will show me when there is snow out how to drive (so months away)

Good to MAKE a decision.

Praying for continued movement from the 6 homes.

Matt, Pm, said his maintenance guy saw 2 of the tenants 2-3 weeks ago and they were out LOOKING for another place to live because they did not like the property manager I just switched from. (would have been nice if he told me then!) Wow. Crazy. They were his first call telling tenants about the transition and apparently are not looking anymore. My homes are sortof in 'groups' except for 1 outlyer. so these two people represents TWO homes.. really maybe dodged a bullet there..

REALLY need to get these 6 homes back under control and rented.. If we save everyone else from leaving (not sure anyone is thinking of leaving!).. fill this vacant house (expect to soon) get rid of this non paying person and fill that. I should at least be getting major increase in rent but at this point i just need ANY RENT and to stop the hemorrhaging.

I meet with Matt , property manager, tomorrow to go over things, givve him keys to the rest of the homes, set NEW expectations etc..

Excited to move it forward.

My accountant says I should think of switching the 3 units at some point....3 units run smoothly now.. I will not transfer..too much volatility already.

"nothing is up but the rent' at this point.

Onward..praying for calmer seas soon.

3 years 9 months of this accelerated payoff left for the 6 homes..

HI all

Today I meet w the other property manager.. the one I switched from and now switching back. His name is Matt.

The good thing w the previous switch . I am better organized.. have some goals. knowledge and confidence.

He has ALREADY been out to the non paying renter house and apparenlty found out she is leaving. I will get more details and we can form a plan today.

Also will want him to list the vacant house today..e tc etc.

I feel good positive and looking forward.

So much so I put $453 into savings.

Have not contributed to savings since June! w all the stress.

I HAVE the $3900 principal payment (that I delayed last month on the 6 homes).. I have that now but am going to hold that until I speak w Matt, get a plan and start seeing movement towards filling these homes. I need rent and certainty.

not looking forward to turning over YET another house (non paying renter) but determined to do it right this time..

LOAN UPDATE.. loan was NOT submitted yet.. gets submitted Monday.. apparently it was a larger package than expected so some assistant had to spend a day or two clarifying it etc to type into their computer or forms or whatever

and the job in Naperville.. they are 'making a short list' of folks to call in by Wednesday next week.. so hopeful.. I met a guy at work who used to consult w/ them so as soon as I have the interviewer name or contact. I will ask if he knows anyone and can put in a good word

looking at Camry's 2011 today.. or later.to evaluate costs/features/etc vs the Genesis.. then will see how much Genesis is really worth.

My genesis has blue tooth (phone comes through speakers) which I JUST set up and it makes the drive a lot easier.. and funner.. if I swap cars I want to see if they have this feature too.. Hyundai just came out a w anew Genesis which looks really nice (not looking at it just commenting)


Onward. hoping property manager transition w my new focus and knowledge will go well.

My plan hinges on these homes and I need to get a SYSTEM in place so they run smoothly. I also need to smooth things down so I can stsrt saving again. not saving recently... .just struggling w this insanity..

Old property manager is getting snippy with me (she still runs the 3 units) and it is unclear if she told 'her contractors' who have done work on the 6 homes not to call me or something. I called one yesterday and NO call back. That is so immature if she did that and makes me concerned w leaving her the 3 units.. Maybe she will get over it and the 3 units run fine so far. I will call the guy again today.

HI guys.

Been really struggling as of late.. but finally getting some progress and movement.

1. Loan submittal IN.. now we wait 72 hours for approval (hopefully).. 6% rate, 30 year am, 5 year term. PERFECT.. any approval will be contingent on the appraisal.. final loan package was over 120 pages long of forms and documents.. insane!!! SO thankful I had my accountant help and he is savvy. Lot of my stress went away w just "sending this off'. Please send prayers..

2. Job.. I am submmitted for 2 jobs in Naperville and going to be in for one in Westchester.. getting lots of clls for jobs downtown and far North burbs (where I am at) .. turning them all down..my current job is crazy.. 85% of the workforce are contractors and they let people go at 2 years (no matter whwat they are in the middle of) ... my boss is a contractor and he is 'outahere' in 3 months... hard to listen to him. Folks talk about this all the time.. 'oh how much time do you have left?" Still looking full force.. gas costs insane and driving WAS better but today was an hour forty comnig home..the head of the program I am on is at the end of her 2 years and leaves next week (in the middle of the program)... it then gets passed to my boss who leaves 3 months after. hey maybe then I will run the program.. (insane)... how do they run things like that.. morale is not super high..

3. 6 homes.. I will write a longer post on this but I switched the 6 homes back to the old Property Manager today. new one was ineffective in renting, slow, ddi not want to go out to the homes and was not able to deal creatively w non paying tenants. This guy is going to make filling that house and getting that non rent payign situation clarified. Old Pm had no showings set for this weekend, nothing in the works and I just found out this week that all the time she said she had ads in the paper/craigs list .. she did not..

very bad

Anyway the rest of my stress went away w the 6 homes transition (back)

It reminds me of Eddie Murphy Raw (I think that is the movie) w that real funny line.. he asked his girlfriend what is up and she says in an angry voice 'Ain't nothing up but the rent.."

That is the truth!! I can fix and work w a lot of things but I can not work with anything without rent coming in

Whether the old pm is my lifelong PM. I do not know. but guaranteed he will get the rent flowing again. he said he just rented another 3 bedroom and had folks left out who wanted to rent..

I will work w him on higher standards for the homes, follow up receipts.. all of which we talked about tday... my involvement in evaluating homes for rehab will help too and my contractors I trust.

these homes need someone who can Be there, has an interest and is down to earth enough to work w tenants or cut your losses and has more tools in their tool box then court (with an attorney she insists). Old PM was and is good w the 2 3 units but those are side by side.. smaller. simpler and take much less time..

Stay tuned

I am SUPER tired lately (all the stress.) but feel good with getting this loan stuff and 6 homes switch (I left her the 3 units) and job stuff in the works

thanks for the support

Hi all,

Updates..

I ,in general, (although trying very hard) have been doing very bad, crying, hard to sleep, ANGRY, just bad... out of control.

Updates... just the facts..

1. Main house refinance.. no real news... several more back and forth faxing documents episodes.. board did approve the loan and we are waiting for the appraisal to be ordered.. nailbiting times waiting for it.. broker says he has 2 more possibles if this one falls through but both higher rate and higher fees. Until the appraisal comes through I will not know for sure IF they can do the loan and how much my fees/contribution is. Hard to wait. Should hear from the appraiser this week.
2. Job.. Nightmare. New policy. NO WORK AT HOME for 3 months! I cried in the car after that conversation. Job is not hard. In fact I have little to do. How do I find these jobs where I have nothing to do? Days drag. I will ask for more work next week. Speech has taken a MAJOR HIt w the stress I am under. Drive continues to be an hour and half stop and go each way. With my deductions changed and no 401k I am bringing home almost the same making $65/hr as making $55/hr (last job). Thsi is with putting $1100 a month in savings. the amount I was putting w the 401k. Accountant will check deductions this week. Gas costs are SUPER INCREASED. I am actively searching for jobs but none yet locally.. LOTS downtown and out where my current job is.
3. 6 homes/house I am turning over--.. the house I was so excited to see last week? I got there and it felt like nothing was done. I was so upset, stressed and disappointed. and UPSET. Current update. House is commplete (except for fridge, washer/dryer. I will buy if I have to but renter may have his/her own). House for rent at $1250 (old rent under s8 was $925). It just went up YESTERDAY!!!!!!! a month to get it fixed up and on the market. INSANE! Anyway.. 6 calls the first day and showings today. Neighbor next door has a nephew she wants to recommend. This is the 3 bedroom w the MASSIVE garage (3 car w office/workshop). A section 8 person called w a voucher for $1300 who wants to see it. I want it filled iwht someone LONG TERM who is going to treat this and maintain it like their home. I am proud of how it turned out and the response (from neighbors even!)
4. 6 homes/house not paying rent--I am still very frustrated w this and how the new PM is handling this. We had a very clear conversation last week that I do not feel she is handling it and I need to have her get a handle on things. I said I feel I am running things and I do not havve the time to do so. She said she is used to being in control and I need to step OUT. I said I would not feel the need to step IN if there was not such a void of leaving voice mail messages and never actually getting in touch w the tenant. Either she can pay or not.. not 'well I left voice mails'. ANyway...$$ summary .. with this month.. she owes over $2000. I gave new PM until Wednesday and then will either handle it myself or turn this house over to someone else. We got $520 last week and she said she applied for help and is trying to make up the rent (she said that to ME. when I stopped by ) but the new PM has no new updates. I do not want her sitting there while she is trying to find a place not paying rent. Renter seems sincere when I talked to her but I have no money in hand... so words do not really matter. I reclaimed her security deposit already to help w cash flow and can pay it back if she pays. This house (based on the reaction next door) looks like we could fix it up and get rent increase too. currently charging $1000.
5. Other section 8 house. havving s8 adminstrative issues.. new PM says she will straighten out but another thing hanging over me and may make the tenant lose her section8. I can not afford another turn over right now.
6. 3 units continue to flow easily along. nothing to report. These are the ones the new PM has run for years.
7. new Property Manager. Mixed feelings. Higher priced help but things are getting fixed right. But realistically if I was more involved w the homes w the old PM (and I see the need to be upfront to learn the homes etc) wouldn't that be happening anyway? VERY VERY UPSET w lack of urgency, slow turnover of homes, and this passive 'I called, left voice mails' stance and NOT stopping by the house and lack of progress on the s8 issue above and the house not paying rent. Whatever deficiencies the old PM had.. I sincerely doubt I would have this situation going on. New PM is a 'by the book' manager and her solution to the renter not paying is to 'send her a letter, serve her now w a 30 day notice and then wait for court'... NEVER actually speaking to her face to face or dropping by to ' work something out' or get the scoop. I can not do that.


So in general.. very rough and I am stressed. I am coping by doing my treadmill before and after work and trying to tire myself out so I do not think about this stuff (or throw stuff at the wall). I am trying to be clear w new PM and set timelimits, boundaries and investigate other options before moving on. I am trying to give her a fair chance and be reasonable. I need someone though who can go out to the homes as needed and help me w contractors etc and can deal w non paying tenants in creative ways.

For now I am hanging in there money wise but have used up $15k of my rental emergency fund (have $1300 of that $15k left) and that is WITHOUT paying the 6 homes principal payment last month. I need to come up w $3900 to be on track w the loan. Seller is ok if I come up w that in payments next year. I want to come up w it THIS month so I am on track so take full deeded ownership of hte house I fixed up next month.

I need this lack of rent situation resolved, this house filled and this s8 issue figured out ASAP.

I know she does a great job w the 3 units. but those are simpler, smaller etc.. She says she came into alot of issues which is true but this wanting to handle it all via phone just does not work and lack of urgency does not work.

Gave her til Wednesday to update me on the 'lack of rent lady'

Side effect of all this treadmill walking and getting my anger out is I am toning up nicely. This week I am cooking all my food for the week today so I can eat well. I thankfully lose weight easily so if I keep this up I can lose some quick weight and fit into my size 8 clothes easily. They are tight now and I got some new slacks in size 10 at Goodwill so I do not have that added stress (of tight pants) but it would be nice to lose 5-10 lbs and have them fit again. 10 are loose but more comfortable than tight size 8's.. so right between.

About it for now. I need to check in more often.. it helps me to vent too.

So for this month. I am NOT adding to savings. I am instead trying to pay taht $3900 payment from last month to the 6 homes seller (provided I feel secure Wednesday that the s8 issue and the non paying tenants are under control)

Coincidentally the house w the s8 tenant (admin issue) has very low rent too (but has not been updated) do not want to turn it over now.

THANKS to all here on this board who suggested I increase my rental emergency fund and encourage me. I would NOT be surviving without your suggestions and support.

Onward.

Continuing to believe in these homes and just focusing on 'SURVIVING' right now.. even if it means holding off on savings in the short term. They are small, incredibly easy to rent, solid, and should be good long term and allow me lots of options once paid off (3 years 8 months) to keep/save/invest the cash flow.. or swap the homes out for other/differnt/better ones. I would not be stressed at all. if the non paying renter was 'stabilized or w a plan, move out or pay" and I did not have this vague s8 issue AND I did n ot have this main home refinance where I do not know how much money I need to come up with hanging over me


Thanks for reading

Hi all.,
THANKS for the feedback and ideas for the commute. I will try to leave later next week (leave 7:45am and come home at 4:30 pm .. (get home at 6).. that way I can work out in the am and get stuff done and feel normal and not be so sleep deprived. Going to library today for books on tape.

Boss gets back Tuesday will ask him if I can work at home 2 days a week.. Friday's drive was EASY by the way and coincidentally that is the day I did both my interviews so that is why my estimates were so screwed up. Turns out FRiday everyone works at home. If I get 2 work at home days (and I will push for them.. others have them) I will take Mon, Wed work at home, Tues/Thurs office and Fridays drive was easy so office there too.

Got feelers out for jobs... per recruiters we are in a job lull right but expecting it to pick up in Aug/Sept w budgets. I want a work at home job.. even part work at home..
.
Loan appraisal ordered.. should happen early next week (will have to work at home or take day off).. need $525k value

6 homes.. fix up on that one house is done.. looking at it in 30 minutes...it shoudl rerent fast (guy said he had people stopping by during rehab). House next door (rent situation) Lady asked for rent help for one month from the county and if she gets that she can catch up in full within a month. She wants to stay she says. I feel I do not have a handle on that at all. I am the ONLY ONE talkking to her. THe new PM is saying 'well I called her and left messages' and then she sends a letter. I need someone who can aggressively get a handle on things. I told her this last week I need her to go out there and figure out what is going on and 'assess' the situation and give me her opinion. Basically I feel I am running these homes myself and I do not have time for that. Some other miscommunications occurred too. I talk to new PM today but she does not appear to 'have the time' to get out to the homes and does not appear to want too (has complained several times about the time she is putting in). .Doing what???. You can not run these homes entirely from your office and phone. Sometimes you have to earn your money. Anyway frustarted in her unwilingness to 'get things done'.

That is a WHOLE POST which I will post later today.

Frustrated and strained w the 6 homes situation. I did a pros/cons of each property manager and went over it w some people and w the 'cons' I listed if they were 'fixable' or 'able to be mitigated;

I will share later for thoughts and I want thoughts.

Not giving up on mew Pm and she has some good points which I have learned from and can take elsewhere but her inability or unwillingness to jump in or lack of time is a BIG ISSUE. I can not run these homes by myself. Even w the 'rehab'. I am running it all on my own.. w Matt (other guy) he could meet contractors etc.. remind me of stuff I forget and 'get it done'

W this lady not paying.. (course I do not know the following) but I am fairly certain based on past experiences. He would have called until he reached her or stopped by until he reached her.. assessed the situation (yes she is going to pay. no she is not.. lets rerent it) and coordinated the move out or clearly established guidelines for the payments..I would not be sitting here in the dark.. calling her myself.. Crazy!

W this house (rehabbing) he woudl have had it up on the market by now (probably w it in such good shape had folks lined up to rent it or be investigating backgrounds already etc) and reminded me of stuff the contractor just did today and taken care of it. I do not ahve time to be hands on w these homes. I need someone who can be actively involved.. I told the new PM that I can make calls.. (and I have made calls and gotten through) I pay her to do more.

Frustrated and needs these homes smoothed out so I can move on to other stuff..

Too much energy spent being frustrated and less total energy available w this insane job.

I do not want to get off track and am off track now so need to get back ON. I am happier that way.

6 homes update.

The house section 8 lady vacated and we are turning non section 8 for a big rent increase.. -Clean up and fix up in the works!! (new paint, light fixtures, faucets, appliances.. *she took hers*, carpet and general fix up and clean out). will increase rent at least $300. trying for $400. To be done Thursday and then start showing immediately!! THIS will be the house I take deed too first (September)

Other house (next door) where lady was late w rent. I talked to her myself and her reduced income situation appears short term. She wants to stay, wants to pay, house is clean inside. I got some $ from her today and expecting the rest next week. She is aware if she does not come up with it we need her to leave asap. I think that will smooth out. I said I want to do some fix up there too.. this will be the 2nd home I take deed too.

Excited to see how these homes turn out and to SMOOTH things out.


Doing a LOT of fix up in the 6 homes.. in past 3 months (3 water heaters, 4 sump pumps, 1 roof and now this whole house fix up, several leaks, lingering issues fixed too). Also completing an outdoor drain system for these 2 homes next to each other (above) and fixed the foundations on them.. (last years posts)

So ALOT.. THANKFUL you guys encouraged me to get a larger emergency fund. thankful I found some good people to do the work (still finding people) and potentially thankful for this new property manager (still evaluating her) and thankful for my accountants support and encouragement

IF (when this works out) I will have 6 fully paid off easy to rent homes in 3 years 10 month time. I am not kidding myself I need to do 2 more roofs (in the near future) and probably will uncover some more mid-large fixes next month (property manager going through each house and making a punch list per house) but if I can survive this year I think it will drastically reduce and improve. I will likely reduce my savings this year to do this.. Budget though with FULL RENT is $750 a month for repairs.. so basically once the large things are taken care of I have $ to nip away at these punch list and rebuild my funds.

THANKFUl I am have a good job too and a fairly easily marketable skill set.

I can not afford a job loss or job break right now so closely watching contract end dates etc from now on..

The 2 3 units continue to plod along (they have no delayed maintenance items) and we will raise rents in the fall. they are paid off in 2019.

I anticipate reducing my rental emergency fund by $5k more in the next month or so to pay for all this and potentialy another roof and the drains (not in yet) but hoping for the motorcycle guy (owes me $6 k.. talked to him Friday) to come through soon and just saving as much as I can each month.. also have the possible sale of car(s) and got $1500 more stuff to sell on Craigs list... ALso next year should be getting a $10k tax refund.

Surviving (crunching numbers right now big time) and looking forward.

Prayers for main home refinance and 6 homes to settle down.

Updates,

Tired today. BUSY day

1. boss can not match salary or extend me. last day Friday. I got calls though from another work at home job ..100% work at home... supposedly paying $65+.. crazy!! this datacenter project management is all the rage now.. makes me think that joining this job I accepted. 45 minutes drive.. may put me at a disadvantage for later as the job is just 'regular project management, applications, infrastructure' but not dataqcenter migrations per se ...putting in for the $65 hour work at home job just in case..And I have the phone screen for the $60 work at home job Thursday. (jobs are at competing companies.. interesting.)
2. bank called broker again... now no news til Thursday. bank did not havve all forms. we resent ... prayers
3. 6 homes.. woke up at 5 and went out to that house (that was vacated) to look at it myself. i want to be more involved as we turn these over.. do it right. lower cost. I was IMPRESSED and felt renewed in my confidence that this deal (6 homes deal) was a good one. house did need fix up but will look really nice when done.. nice neighborhood.. just felt good. and money spent now will go towards improvements or long term fixes.. STILL afraid new project manager will be slow to rent this out/clean it up. I am communicating more and will get some quotes myself. Talked to my accountant. he suggestd an idea I thought of last week. that I find some contractors for common things (either hers .. after interviewed or mine) and just use them so I have folks *I* can communicate with and trust and know their rates . VERY good idea and will do. I told her I want it fixed up by the 15th and we start to market for a hopeful move in day of the 1st.

All rents in except that one house .. owes 50% due from last month and this month. Pm going over there tomorrow. upsetting. We will take aggressive action if not out or paid soon. Lots of costs w the transition but all good .. getting things fixed.. taken care of.. just stressful

3 years 9 months left to pay this 6 homes deal off
2 months to my first fully paid off house deed

Hi all,

Diarying here.

updates.

LOTS of people reporting mid year net worth and LOTS of leaps in investment account value. I WISH I had more $ in my accounts so I could reap some of that benefit.

JOB

Gave notice today. start date 7/21.. current boss wanted to see if he could make it worth my while to stay. he is going to see if he can get me enough work (contract) for 2 years and raise me to $62/hr. news tomorrow

Loan

Loan guy called and said the bank called HIM and he should have 'paperwork tomorrow' and said 'not to worry'.. 'things look positive'. I am praying. My worry and anxious nature must show though

6 homes. lady moved out. current Property manager did the walk through.. not that bad (in terms of repairs due to her or cleanliness issues) but some updating needed etc. getting cost estimates. hoping to fix it up in a week and fill it by the first

House next door (you recall tenants Dad got sick blah blah and she now may want to move downtown to be nearer to him) no rent yet . she owes 50% of last month and this month. she HAS called though. Property manager is tracking her down tomorrow... if she is going to move I want her out now so I can turn that over.. I will ask for $100 more rent over there. Again that house will need updating.

At least I am feeling like my $ dollars are being used to update/improve or fix things correctly and for the long term vs wasted w the old property manager.

Anyway.. even with all the above... I am feeling things are smoothing out w the 6 homes and should be fairly well smoothed out in the next 2 months. fingers crossed. I NEED them smoothed out asap. too much uncertainty right now.

About it for now.

Hopefully news on loan TOMORROW

I will be so happy if this job works out, the 6 homes smooth out and I get the loan!!

HI all,

I just heard I get paid WEEKLY on my new job. I will have almost a $2000 overlap between between jobs.wow..nice...maybe can go towards rental emer fund, the points for this new loan, investing. exciting to have an 'extra' possible #2k

selling sharebuilder. putting into Vanguard.. whatever you guys do . do not buy Sharebulder unless you plan to hold it a longer time. I am wasting money on fees to buy and sell. it was a good thought at the time.

6 homes. I am stressing on this house turnover way too much I am going to give my new property manager a list of what I expect and let her do it before stressing anymore. in fact off for a walk now (this is my work at home day)

Everyone have a great 4th. I am doing a parade and then some fest thing.. with a band.. and then Friday I want to lay out in the sun. have not done that in a while..and going out to a celebration dinner Friday pm. and then just whatever.. want to rest and relax.. stress eats you up!

Early release today at work. 3 pm.. trying to get stuff done.

PRAYING for this main home refinance to come thruogh and good news on the 6 homes turnover. still a good time to rent.. just want it done (NOW) haha

Hi all,

Documenting the journey

JOBS

1. accepted the $65 hour job.. NO 401k for first year confirmed. I mapped out what I should be getting and should be able to save $3k a month.. already funded Roth so that will be all taxable accounts
2. Naperville job did NOt turn out. not enough E commerce experience.. oh well. this however helps me see that when I stop chasing money so hard I can get a good paying job near home without too much of an issue at $100-110k
2. still in for 100% remote job but wondering if I want it. I want to be out and social. the job (I accepted) has flex time and one day a week at home and 4 days at the office (social) so best of both worlds?


LOAN
1. no news this week. now I should news mid next week. PRAYERS!! this is for the main house refinance. if this job, the lloan and the 6 homes smooth out ... WOW!!

6 homes

1. s8 lady is moving TOMORROW.. Property manager is going over there tomorrow to do a walk through and see what we need to do.. will let me know after.. plan is to fix it up asap and rerent it for $2-300 more a month.
2. roof on one of the homes goes in this weekend... also did 2 sump pumps and water heater (replacements).. going to do a french drain and one more roof likely this year.. comprising hopefully MOST or all of the larger fix up areas w the rest of work being minor repairs etc..or small improvements tothe hoomes .. particularly the ones we are turning over..also will look at tree trimming etc away from the roof.. I can hold off on the 2nd roof if I want too..
3. most important thing is to get these new renters in and stabilize..I have 1.5 months of vacancy built into my budget #s
4. hoping new PM is aggressive and good with rerenting and turning things over fast..

s8 must not have known about the move out ... they paid for the whole month. after we have confirmed move out I will see if they want me to refund that or take it out of my next check

About it..hopefully good updates to follow. I wish I did not have so much up in the air.. loan and turning over this house.

Hi all,

Too many updates!

$65/hr job proposed start date is 7/21.. will give notice once I have the contract.. today?? but no 401k for a year!! will have to save in taxable accounts

Got a call for a $65 contract to perm job in NAPERVILLE.. put in for it.

Also I have an interview for $60 work at home job..

**

Loan submittal sent today.. hoping for good news by Thursday (prayers).6.25%.. 2 points.. need to exit this loan asap.

***

6 homes transition..rocky .. I am pulling out $10k from the emergency fund today for roofs etc.. s8 lady has not moved yet.. but still getting rent but upsetting.. have a call into s8 and property manager is going over there today to see what is up.. house next door did NOT pay second half of last months rent 565 missing and concerned for this month.. property manager is going over there today.. when it rains it pours. putting in new sump pumps in both homes and a french drain.. $$$$$$$...I have never seen so much rain in a year!! but all fixes from now on are long term..and done well. just lots of MONEY and rental uncertainty which I do not like... just feels very up in the air right now and a rough transition. upsetting. news hopefully today on rents and status. Property manager is meeting w ALL tenants in this next week or two.. walk thru homes. form a list of things needed.. money out the door but it will be good to get these back in order and running smoothly..

PRAYERS for money and some resolution (good resolution on the above)

HI all,

3 goals reached

1. Saved $1200 to keep in my bank account at all times for emergencies. Contingency money
2. Finished the ROTH for this year.. added $2000 for a total of $5500
3. FINISHED RENTAL EMERGENCY FUND!! $30k

That motorcycle guy still owes me $6000.. hoping to see it this month... that will go towards the rental emergency fund so when I pay for the roofs it gets built back up.

Still struggling to settle up and get back on my feet.. settling up w 2 flat tenants this week and then have to settle up utilities for that then all costs go9ne (and income). BIG income hit these last few months. I shoudl be settled by mid next month and can start a routine again.

6 homes transition. still rocky.. biggest concern is the one lady who had rent last week and called old property manager with it.. he told her to hold it and NOT pay him.. now new property manager is calling and she is not returning calls. She is the one who just signed up for new garbage though.. so hoping that works out. new property manager is going over there shortly too. If you recall new property manager is going out of town this next week (Alaska) and is swamped and a little frazzled. I am hoping I made the right decisoin to switch. would feel much better if rent was in. not sure if she is being aggressive enough.. upsetting...She has said it would have been easier some other month to start .. I am wondering if she is doing all she can.. impressed on one hand but nervous w this rent situation. Hope to have news tomorrow.. I do not want to have a non paying tenant but this tenant has been paying ever since she omoved in.. crazy! If no progress tomorrow we will give a 5 day notice .

I will be doing two roofs next month (across the 6 homes).

Just did a quck look at my 6 homes/3 units costs and I guess MY PROGRESS (need to feel good)

I have owned the 6 homes since 4/2013 and the (2) 3 units since 11/2013

My plan was to switch 3 (of the 6) homes out of Section 8. I have one switched over and one on the way to switching. This shoudl result in higher rents and cost savings. I cut insurance costs by $2000 a year and increased my vacancy allowance.

Total repair vacancy allowance per month is $970 a month. This is budgetted but NOT saved to the rental emergency fund each month if not spent. If not spent . I simply save more in the NON real estate fund. I still have the $21k emergency fund for the rentals. After the 6 homes feels smoother...if I do not need that $970 in a month. I will throw it towards the rental emergency fund.

I have gone through one property manager (learned a lot) and am on the way to a new one and more learning

My net across all (if paid off) has gone up $220 so far a month (and I increased repair/vacancy allowances).. so if these were paid off (and they are not but the 6 homes will be in 3 years and 10 months and the (2) 3 units in 6 years 3 months unless I ramp it up after the 6 homes are paid off or refinance jsut to increase cash flow) ..I would have $5666 a month net income. I expect a $2-300 a month increase after we turn this next one over and OUT of section 8 and expect a DECREASE in misc repairs/costly errors with an increase in long term fixes/improvements (which may cost more up front but will minimize issues/costs long term and makes homes more attractive to buyers and renters)

I SURVIVED the first year and get one home pulled out free and clear in September (3 months away).

i have 5 more rents to raise this year at the 3 units (but likely only $10-15 each)

Thanks for listening. counting my blessings but lots of hard work left to do and the most important I thikn is just making the payments on these homes/3 units and getting my house refinanced ASAP and KEEPING employed with no breaks.

HI all

bad news but using this as a diary too

Bad news

I 'assumed too much and too positively."" on items that were out of my control

Assumed tenant (who moved out of the 2 flat early) would pay me $810 on time.. it is late and may be a week or more out or I may have to fight for it. I have to pay utilities on that the 2 flat til it sells and this would have gone towards it. potential $2-400 utility bill outstanding??

and assumed 2 flat would not confirm til the end of May. it is confirming on the 13th

also roofs will likely be $2000+ more than I budgeted (low budget!)

Thsi means I have an $800-1200 hole for this month (plus roofs) and owe the other 2 flat people $400 out of their security (which I already reclaimed)

I already used the security..so this represents $400 i have to come up

BAD assuming..

Here is my plan

1. sell my stuff (sold $310 worth so far.. got more to sell and appointments this week).. potential of $300+ more and may list other stuff ($300 more.. but not this week likely)
2. stop 401k for next check. potential $730 more $ to me
3. stop unnecessary costs (getting refund on 'just answer' website subscription and stopped that, stopping my fico.com, getti8ng refund of $120 on something else (potential $175 but refunds not coming instntly)
4. see if I can delay confirmation one more month (got a call into the bank).. worth $1025
5. start consulting ASAP (now).. probably can do $200-300 by end of the month
6, take $2000 out of rental emergency fund to pay for roofs AND maybe delay unti that one house is turned over
7. call that guy who owes me $6000.. see where that is at.. that will go towards the rental emergency fund by the way
8. stop auto savings plan for this month or next check

and lastly DO BETTER next time.. stop cutting things so close with stuff out of my control in the air

Onward.. hoping to update with good news.

tenant who owes $810 contcted me today but says they are short and do not have it.. trying to come up with when they will

also my not for profit is in a cash crisis.. which is stressing me and I have very little time to deal with it.. want to close that thing.

with the money shortage..'Necessity is the mother of invention!". I do not want to reduce my emergency fund accounts.. trying to make up as much as I can with adjustments etc.

Positive news.. renter that we are letting go in the '6 homes' house IS in fact on her way out and MAY have found a place. We got the reference check yesterday.

We will start showing the place this weekend and will clarify her move out date as well. She is w Section 8 so all has to be approved through them (this is why the dates etc are a little influx) but I am feeling encouraged.

Hoping to raise rent $250/month

Meanwhile holding a garage sale the 26th-27th... trying to sell and get rid of stuff. Any tips on a better garage sale? I can take charge cards.. hopefully that will help.