Hi all,

Using this as a diary to laugh or cry at later.

Update on house short settlement (where I live now) trying to buy out existing mortgage at a discount and take ownership of property singally without my ex. Settlement $297,500.. Value $450,000. I can not get a bank loan due to pending foreclosure on a rental and there is a year waiting period from the END of that. I had my attorney withdraw and will no longer fight that.

Made 36 calls (had a friend help) !!! Crazy insane.. talked to several folks.,and have 4 applications in the works and expect news on at least 1 of them today. Waiting on several more calls back too.

Points and rates are likely to be higher than I want. These are true hard money folks. I have one (non hard money guy) but he does not seem as strong .. I will hear from him mid next week. Still hoping for 8% rate and 20k down but folks are wanting 5+ points but can wrap them in the loan .., but not if loan to value goes over 65%

We will see.. news soon..

I want to settle this so I can RELAX and start my financial plan and move on. These last 2 homes represent the last ties to the past 'downfall'

good month w 6 homes and 3 units... low costs.. all rents in and cut insurance (yearly costs) by over $2,000. Will make efforts to raise rents across 3 units this year.

also started 401k this month.. 8% from me.. 3% from work.. (vested from day one) and $125 auto savings into emergency fund..

Making progress just need to settle house.

Hi All.

Today I start 'looking for the money' for my house deal.. fingers crossed for 'not crazy rates'.. 6-8 would be IDEAL!! Prayers..

I am also going to start investing some of my cash reserves vs parking them at Barclays (still a good choice but only pays .09% )but I have only 4 years left of my 5 year goal and need some extra 'umph' to reach my $300k cash goal. Any cash I have now will likely be consumed this month with the house downpayment/fees or whatever..so will again be starting from almost zero.

I have $64k parked at Barclays. (some of which is my security deposits/tax escrow so not reflected in networth).. the rest are various emergency funds and savings.

I think I can take $10k of the security deposit escrow and invest it.. also will start investing with my ROTH IRA.. everything else will remain parked

Investing strategy is the Dogs of the Dow approach.. http://dogsofthedow.com.. hoping for 20% and up returns!

Really excited.. and once the house works out will start investing more but now need to conserve as much cash as I can for that big (HUGE) unknown.

Essentially if this approach works and I can get an average of 20% returns.. once I have $150k in the market I am just 4 years off from my $300k.. so need to get cracking on saving (of course once the house clarifies). I am also 10 years away from $929k without further contributions once I have $150k working for me.

What a wild crazy year it has been! I know some of you think my methods are a little crazy and certainly risky . but I set my goal and AM going to reach it.

Hi all,

I have decided to hang on to the car until I hear on the short payoff w my house. I am now at $285k. hoping to hear Friday or Monday (fingers and toes crossed) if the bank accepts the offer. If not,. I am hoping for a counter.. Just want to STABILIZE!!

I am letting go of the 2 flat .. it is in foreclosure (I have never mentioned this one before.. was owned by me and ex.. house worth less than what is owed and rents will not pay for it) and I was having an attorney delay the foreclosure. I decided to let it go.. partly because the city wants me to install an egress window ($2k) and partly because I am just sortof 'done' and want to move on and partly because if my house works out. I can only refinance out of whatever hard money loan I get a year AFTER my last foreclosure (2 flat) so need to start that clock ticking. Letting it go means discontinueing attorney involvement.. telling city I am not doing the egress window (giving renter 60 days + to move out) and giving bank the deed back (est 4-6 months process dependent on if I get My house worked out.I can speed it up then if need be)

Started contributing to the 401k today.. 8% scary but only $250 per paychedck reduction (still seems HUGE). I can always change it. Work gives 3%

Reading the 'automatic millionaire' and doing the 'latte challenge".. categorizing all those small things you buy.I spend at least $1.08 a day for diet soda at McDonalds every day and at least $3 for lunch every day (except weekends). need to get food and soda in the house or eliminate that or reduce my costs that is crazy and not super healthy.

upped monthly contribution to emergency fund to $46 a month

and closing my not for profit down (transferring it to another not for profit). VERY sad. mixed feelings but definately the thing to do.

All the updates for right now.

Finishing Christmas today/tomorrow..sending stuff.. buying stuff etc.. wrapping..


Onward guys!

HI All.

Quick question.

I have two cars ..2011 Hyundai Genesis 4.6 (26k miles), 2008 Chevy Tahoe (85k miles)..Both have full warranties up to 100k+ miles.

Tahoe is paid off.
Genesis I owe $18786 which I am paying off at 3.15 interest at $1008 a month (actual payment due is half that. I am making doublepayments..payoff 7/15)

KBB says Genesis is worth $25600 if I sell it myself. instant offer (same website) gave me an offer of $18,900.

I have two cars because one was bought in part for the snow (Tahoe) and because I ran a not for profit which I am closing next month (Tahoe was paid for in part by the not for profit).. I need the Tahoe (4x4) but the Genesis gets better gas mileage.

So.. been kicking myself for a while here having this big expensive non 4 x 4 car.. and these loan payments are high... wanting out of them. I have mixed feelings w selling the Genesis as the Tahoe is older and the Genesis gets so much better gas mileage. I had to use the 4x4 function last week due to snow though. I have been tossing around selling the Genesis for a while and have been hanging out to it in my indecision.

Any thoughts?

I owe $18k on the Genesis. if the house offer goes through I will have more incentive to let it go .. esp if I need cash... jusst wish I did not owe so much on the Genesis!

I plan to keep both long term and keep them well maintained.

House rented.. $25 less rent but uppped the utility allowance so made up for it in full and have room to increase rents every year. Looks long term (hopeful look).. I am now putting together a repair/proactive maintenance plan across the 6 homes so I can budget it in. Only 52 months to go to fully paid off.. just hanging in there.

Reading 'the power of intent' and will post here more.... but has to do with directing your thought to what you want vs what you have.. interesting and I think true..

I shoudl hear on the house this week (my own.. my offer w the bank)..

Gettting excited for the new year

closing my not for profit down too. which is where MOST of my stress comes from.. looking to close/turn over to 2 other not for profits in next 2-3 weeks.. sad.. exciting . relieving.

Hi all,

updates.

We think we have a good renter for the house (remember the insane-foundation-work house).. fingers crossed.. will finalize and likely know tomorrow. they live somewhre else now and have asked to move in Jan 1 . We are saying we have someone else that wants to move in now (which we do) but she is w Section 8 and will likely take a few days etc and will pay less rent and rent is fixed at the low rate for a few years and we have these insane 'inspections' every year so better to take this house out of s8.. Goal was to take 3 of the 6 out of Section 8 anyway. . Anyway I need RENT NOW...

3 units calming down. no new news.. just large expenses last month w tree falling

Put $25 savings from car insurance switch to Allstate into an auto withdrawal into my emergency savings

No news on my house yet (trying to see if bank will take $260k) should know late next week then havve to get money. Zillow says it is worth $433k..PRAYERS

Also I have my security deposits and tax escrow in a essentially zero interest account right now. I am switching over $10k of that into Barclays (.9 interest) to make some money off that large amount.

I do NOT show that on the left as it is technically just money I am holding for taxes or renters... not mine.

Hoping to have SUPER AWESOME news soon on the renter and my own house.

take care guys. Onward!

Hi guys.

Thanks to a tip by 'Jenn' (and check out her blog.. very neat stuff). I went to networth.iq and WOW.. what a wealth of information. advice and tips.

I suggest you look at it your self.. you can see others networth by age, income, all sorts of stuff .. see 'where' their net worth is.. VERY INTERESTING STUFF

What popped out at me (Miss making real estate income my main goal) is that I was more impressed w folks who had the bulk of their networth in saviings and investments vs equity in homes or rentals. I feel the same way even though my net worth is lopsided that way right now.

What was motivating was some people who had $375k net worth (again these were primarily stock/investment/retirement plan based networth folks) kicked it up to OVER a million in 5-6 years..so the time frame does not have to be long.. just keep learning and chipping away

After this house (my own) settles in some way I will focus primarily on stock based investing. already have a strategy.. so building up ROTH/IRA and general cash and investments is the goal once the house settles in some way.. either I buy or whatever... still $12k short on my emergency fund but feeling in general good today. Need to kick my side job into gear hear at some point.

This forum has HELPED SO MUCH keep me accountable and moving forward. Hope it has helped you guys as much as me. I have increased my savings, cut costs, started 401k, and roth just this year (after the 'downfall'.. haha)

About to save $1600/year on insurance costs among the 6 homes, 3 units by switching to Allstate. WOW!

I feel I am on the UP hill swing again.

Have a good day guys.. keep saving.. whittling away debt but invest too..

I am 43 and make $110k

per

http://cgi.money.cnn.com/tools/networth_ageincome/index.html

Median net worth for my age $53k