Hi all

Dr Atkins day 1.. I did not have proper food in the house and had to run out for food ...starving. anyway I finished the day with 37 carbs.. goal is 20 for the first 2 weeks. I am doing this for 2 weeks. I will do better w proper food in the house. I also got those ketone testing strips. I lose weight pretty easily so thinking even though I am over I am off to a good start.. just starting is good!!

Interview. we are trying to coordinate for next week. 401k looks possible at the new job

Got a $550-600 water heater warning from my property manager.. for the 6 homes..(unless I have MASSIVE repairs in addition to this.. this does not exceed my monthly budget)

I am 'short' approximately $1200 (not including roofs) for bills due on or around the 1st (even with no 401k) . I will continue to sell stuff. Sold $450 so far this week! and listed some more high dollar items too..some of this shortness is because credits/refunds are not going to be in by the 1st and that rental guy has not paid me yet.

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.

Hi all,

I got news on the job. They WANT a face to face w me and will set it up next week. I have not found out if I am the only one called in but I may be.. which means i am a shoe in. We will see.

I have asked the contracting company if they have a 401k I can join right away. News soon. I assume there is some waiting period. he will see if I can join.

Roofs looks like $2000 over budget. My budget was for a layover. now doing a full tear off (much better idea!).. architectural shingles.. $8k for 2 homes. I am holding $6k. I will ahve to use my rental emergency fund for the other 2k and then build it back up again.This job would go a LONG way towards building it back up.

2 flat was reclaimed by the bank. my guess is because of the pending 'life safety violation'. Confirmation date is 5/13.. I make $1025 on rent there.. I wonder if I should ask them to delay confirmation for one more month?

If the original confirmation date is held I owe the renters some $450 on the 'settling up' . I am short because the other renters owe me $810 and have not paid yet.

Finances are feeling very tight right now.

Hi guys

Knee deep in my house clean out etc.. So I do not wnat to donate to Goodwill what I can sell

What items are sellable on Craigs list or Ebay (never used ebay.. is it hard)

1. books?
2. those sauder shelves
3. purses? clothes?
4. lawn stuff (leaf blower etc)
5. pictures
6. artificial flower arrangements
7. vacuums

I do not want to have a garage sales per se.. there is a 'New uses' store here that buys things (not big $ and they do not buy books and some things) but trying to clean up

Also heard folks buy things at garage sales or get them used and sell on ebay or Craigs List.. any money makers there.

Thanks guys

Trying to figure guidelines for throw out, donate and sell to New Uses, or on Craigs list/ebay

Hi all.. got a $50 Sharebuilder bonus and been reading all these folks selling stuff on Craigs List (my stuff has not sold for weeks).. Thinking I am too high adn I just need to suck it up and get rid of stuff.

Trying to sell a couch for $550 and sectional for $450.. just read someone got emails (I have received NO EMAILS!) and was selling a couch and something else for $150. I need this stuff gone so will lower prices and hope to get some interest..

No word on job yet.(no bad news but no good news either)

and expecting roof quotes today. getting a few more for those 6 homes.

So motivating and instructive to read others blogs on this declutter challenge and 'my organized friend'.. i struggle w organization so taking some tips and will start setting aside time every day

Anyone read Flylady (organizational lady. very good)

Have a good day.. Hope to hear good news on the job and Craigs list.

2 flat goes to foreclosure sale today!

Hi all.

Job interview (phone screen) went well... lots of 'buy signals'.. "when you are here.." etc..
others
I felt good it went well. less good w the distance. I asked some 'work at home' questions that may have given her the impression that I did not want the job. I said I did want it obviously but may ahve been less convincing .. Thsi is practice and 'what if'. If they have interest I will be told today if I get to come in for a face to face and hten basically it is mine. I should have news from the recruiter today.. Job would net me approximately $3000+ MORE a month. Drive is 43 miles one way (gas costs). If I am seriously thinking of it I will drive out there this weekend and see how far it really is.

I am already pulling traffic reports for time in the car.

Looks like work at home 1x a week..(after a while) and she wants me to work 8-5.. I am BETTING I can get flex hours. I do not want to take lunch and hten leave at 5 in the middle of rush hour.. 8-4 is fine.. eat at my desk..better yet 7:30-4. I am an early bird.

Office is in LINCOLNSHIRE but a straight shot up 294.. actually fine for 4 days a week.. 50% more pay. no hours cap and SOCIAL life at the office. I work at home now and when I do show up at work (which is rare) no one is there (really.. maybe 2 people.. very quiet.. boring etc..) that is partly why I work from home. so boring at work.

This sounded like a fun (actually easier job). I could work w people and be more involved. Contract per interview could be essentialy as long as I want it if they like me and it is a good fit.. never had someone 'not like me' or let me go so thinking this may be long term

So we shall see

2 flat sells tomorrow
Feeling frustrated w current property manager (slow response time, confused paperwork etc etc). new one is taking over as of 6/1.. hoping we get this unit turned over quickly.. tenant has found a place and is waiting for S8 to 'approve' and transfer paperwork.. So it will not be a sure thing until that happens. which means the 'move in' date for any new tenants (none found yet.. but soon) is a little fluid as we wait that out.

Things are moving forward but lots in the air

boss gets back 4/28 from India and I expect news on the renewal then.

I feel 'short' this month and do not like it..

*I just looked up traffic reports and traffic is light on the route.. 40 minutes leaving at 8am..I am actually HOPING I get the call back and afraid I seemed too disintersted or concerned w the drive.. PRAYERS I get the call back.. what an income boost, more social, easier and work would be left 'at work'" and LONG term contract. (years)

Hi all,

job interview today. I make $55/hr now. interview is for 50% more... rates must have gone up! a recruiter just found me on linkedin yesterday and set this up today

I have not heard on my renewal but still feel I will be renewed

I am taking this job interview for practice, confidence and 'what if'. this is a 50% jump over what I do now and they are saying that I can work from home after the first several weeks. Initial job though is 45 minutes away.. it is a deal breaker if I can not have flexhours to minimize traffic.

Interview is via phone. I have a slight stuttter.. always prefer to keep phone interviews to a minimum but in my field this is the norm and I get through them

Here we go.. 6:30. wish me luck.

First Sharebuilder investment went in. Exciting and motivating to be investing again even in small amounts. I just did an Index and Bond ETF I think

Deciding on 2 roofs for the 6 homes today
Shoudl have news this week on showings on that one (of the 6) homes we are vacating and turning non section 8.. 2 showings last weekend. apparently both were interested and took applications.

Fingers crossed for all

I miscalculated and have ZERO $ to save from now til the end of the month. I will start over next month.

I bought new furniture from Pottery Barn this month.. to refresh the house and start over.. very nice.. cannot wait til it comes.. that is where the rest of my tax refund went.

I am not seeing large lump sums to the rental emergency fund in the near term.. still $8750 short w an expected $5-6 coming w that loan payoff (not in yet though)

2 flat renter still owes me $807 .. he says he will deposit shortly. I need it immediately so I can close that out. house sells 4/17.

Hi all

I am going through my house and 'clearing out' like many are doing w the declutter challenge.

Nothing cures wanting to buy more stuff or trinkets like going through cabinets or your WHOLE house and throwing out bags, boxes of stuff that you paid essentially thousands for and in some cases never used, never wore, 'lost' so you bought 2 or three of them.

Wow. I am trying to sell some of my stuff and getting 'pennies on the dollar'

Throwing out books too and realizing the library is a better option sometimes.

Wow.

then looking at pottery barn or other catalogues or model homes and seeing THEY actually have LESS stuff out .. less decorative items but nice well placed ones.. wow always learning

Same goes for my insanely large yard.. I just had it mulched.. 50 yards..I was originaly thinking wow I have to fill all these beds.. now thinking I will get some advice and go for a few well placed things.

Have made zero progress (actualy have not tried) towards losing my 10lbs I put on w the 'house saga'

Thinking of Dr Atkins for a week. it helps me to get the head start that gives and then I tend to be thin so can just get exercising again etc and eating normally. just need push at the start

Onward folks. good to read everyone else's stories

Dialing for dollars again and saving money.

Got a cable/internet/phone deal $130 a month LESS than what I have

and having someone look at my not for profit phone deal (currently paying over $280 for 3 phones.crazy).. looking to get that down to $130ish.. this does not directly impact my budget but will for the NFP

The savings for the cable almost pays for my Sharebuilder deposit every month. Good fun trade.

Also using mint.com and seeing decreases in fast food and grocery and more awareness of other stuff

Exciting to see progress.

Hi all

I have been meeting people through this guy I am seeing who are RETIRING at 53 etc.. He worked at a company his whole life and has a pension too and big 401k. They are still laying off there and every so offten a friend gets laid off and gets a financial package. Everyone there is apparently cashing out the pension vs taking payments. Many also have huge 401ks..He does not feel he has enough to retire but wow if I had what he has and the rentals paid off I would be GOLDEN. He is 53 I am 43..

I WANT TO RETIRE EARLY (or be in a position to do where work is a choice not a necessity or work part time) I just want to have more time and freedom. CHOICES

I have come to the conclusion that to feel free I need to add to my goals to pay off the house ASAP. Big goal.. $300k...and involves some creativity and NEW thinking but I am going to figure something out. I can not pay off the house or reach my goals with saving $500-$1500 a month.. need to step back and get a whole new paradigm

I really do not feel comfortable relying on the real estate income I will (not now but later) have with the house debt still there and not working liek I do now. I know I will want the house paid off to relax.

Someone died today.. the realtor who sold me the 6 homes died before they closed and the attorney on both just died yesterday. Makes me think of how short life is.

Life is short. I want to seize the moment and use more of it. Spring is starting and I want to feel FREE.

I am ok working super hard for a few years, taking some risks if I can get what I want later.

I hesitated writing because it feels like I am setting a goal that I am not sure (yet) I can meet and in a public way but I have done 'hard things' before and I am sure I can think of a new paradign/way/idea to make this happen..

Prayers for creativity, opportunity and logic to avoid too much risk .

Hi all,

I talked to my aunt yesterday and she gave me (will send) the $7000 she had pledged IF the house worked out.

WOw! wow!

Feeling like things are all going well lately.

I have $21k in the rental emergency fund (need $30k) and have $6500 for roofs (at the 6 homes.. quoted cost).Calling this guy today to see if I can still get the winter rate. That motorcycle guy still owes me $6k and is in touch every week.

Talk to old/current property manager today..and to new one (to confirm for June 1)

We give notice to the SEction 8 lady today.. 30 days and will look to rerent it immediately pending her response. I am giving her $100 move out credit for the inconvenience and if damages do not exceed her security deposit and if she cooperates w showings. I think it will go ok. Also my talk with current property manager gives me a chance to set real expectations for renting this out. was in the past 'afraid' to be too direct as I had no back up.

Onward.

It looks like BOTH renters will be cooperative w settling up through end of May now.

Renter 1 (upstairs) moves out today but broke their lease.. they owe me $805 more which is due next week (and some will go towards utilities.. $400-500) but they settled up through end of April .

Renter 2 (downstairs, w egress window issue) is settlng up through END of May tomorrow and will turn the utilities on in their name. Once all monies come in I am essentially done w this place. Sells 4/17.. confirmed 30-45 days after

This means I can ask that guy (lender option #1) if he can refinance me sooner out of this hard money 12% loan for my own house. He said he could after I owned the house for 12 months.. since I owned the house before the refinance for 8 years hopig he can use that timeframe or stretch it.. only caveat is the house is in my LLC name now and was in my and my ex's name.

We shall see. I will contact him end of May/June (after sale confirmed)

I also have court on the egress window. I was ticketted. Court is tomorrow and I was given 30 days to get her out. She is moving upstairs so hoping to just show hte new lease, pictures and move on from that too.

More news tomorrow on ticket and settling up.

Monies from settling up will just go towards savings. I am due $1800 more but $400-$500 goes towards utilities so will get approx $1400 to use and from now on I have to budget WISELY to make this hard money loan w no 2 flat rental money assistancce.

I am on contract at work too...so get NO paid vacation. was thinking I need 2 more small funds (car maintenance/repair, and vacation.. a weeks vacation is a loss of approx $1650 net.. I want to save that so vacation is an easier decision). Where would I keep small funds like that? What do you guys do? I want to keep them separate.

Hi all,

This is a big month for me. I lose the 2 flat.. and all the rental income that goes along with it. I meet w the tenants today and this weekend to settle up. I am trying to settle up through 5/31.. I have little leverage but things look good.

Without the 2 flat.. my first paycheck does not cover the payments due from the 1st through the 15th so I have to save from the 15th check or in general. Cushion I need is $1200-1500. I will build that now and leave it in my account.

Put $4000 more towards the rental emergency fund. I decided (barring major issues or uncertainty) I will keep the rental emergency fund at $30k (after I pay for 2 roofs)..so I still need to come up with $37b total but will then leave it at $30k..

Talked to old property manager (it is done!) and will follow up in writing. he is not happpy to lose the account... wanted to know what he did wrong, can improve. I said we can talk next week if you want. He wants (and per contract) gets 60 days so means new one takes over as of June 1.

I do not want to ruin the relationship w him and am checking with new PM if she has a person to refer me too should she no longer be able to property manage for me.

I am looking to turn over one of the homes from Section 8 to non s8 in the meantime for a rental increase of almost $200+ a month. Old PM wil handle that because time is so good to rent to folks.

Maybe not a good time to introduce more uncertaintly but I am doing it. S8 is guaranteed til the lady is out and we gave her til May 1. House should be easy to rent. Only caveat is if she causes problems showing but we will find that out next week and can bring S8 in to intervene if necessary (fingers crossed)

Still need to talk to Ma and aunt for $7k
No new news from guy who owes me $6000 but he is in regular contact so feel once it warms up his motorcyle will sell and I will be ok.

Does it make sense to contribute to the Roth/HSA now or wait til rental emergency fund is built? my guess is wait but wanted thoughts.

Thanks all.



Just had idea. I can offer current tenant $100 incentive as a 'sorry for short notice' and be cooperative w showings. We are basically terminating her lease suddently with 30 days notice.

thoughts??

Hi all,

Outstanding news.. Tax refund is over $13000.. Why so high? my accountant had all those loss carry forwards from the years I did not work

Wow.

$9600 came today

Plan.. put $10,000 into the real estate emergency fund.. maybe more. I lose the 2 flat in 2 weeks (4/17- and then 30-45 days to confirm sale)and am settling up w tenants so need to figure things out.

The 'ok news'.. I asked for a renewal. boss was in a bad mood.. stressed. has been for weeks (he leaves town for 4 weeks tomorrow).. anyway.. I did not get a yes but I did not get a no either. I got a vent about random things w work.. he said budgets are finalized in April and he will know when he gets back or before (he will log in from time to time) and he said they are letting go 2 people (contractors on specific non important projects. not a big deal) AND hiring 2 more people in our group. I am well liked and they have all sorts of work so I am feeling good but conversation was not 'super awesome'.. He ended with 'you are not on the list to be let go" Well.. glad I got that reassurance! I then had my major migration this weekend so have been working a lot. I coordinate all network across 15 engineers.. insane..47 banks.

And FEELING STUCK!! 3 Unit property manager is all set to go. and I have called the old PM but have not reach ed him and I feel this HUGE WEIGHT from not getting that resolved. I also have not called my aunt. So on the agenda today is calling both and reporting back

My stress will be 10 thousand times less w those 2 things resolve or at least 'done'

Thanks for the encouragement guys.

Still plugging forward.

I can pull a fully paid off deed out from the '6 homes contract' in August and the other (new one) property manager who is a realtor will help me figure out which one.

I need to make those calls today (prop mgr and aunt) so I can move forward. feel frozen!!

Next month will be my first month paying the hard money loan without the 2 flat income. Got to get thsoe 6 homes stabilized. I have $1000 worth of cushion built into the 6 homes budget but w the current PM use that almost every month.. with the new property manager I hope to save that cushion or some of it and throw it to the rental emergency fund or once that is funded somewhere else. (invest/savings)

So the rental emergency fund should be almost $21000 in the next few days (only $15k left to go to hit $36k) but seriously considered stopping at $30k especially if I do those 2 roofs shortly here and then leave it at $30k (w 2 roofs paid for and homes w new property manager). I will continue aiming for $36k in the meantime though.

Hi all

I have a high deductible insurance plan and got one because I am in fairly good health.

Any suggestions for the best HSA account?.. it seems like all have fees (unless you have a large balance). I would only put in $2000.

HSA Bank is fairly well rated.

I WISh I had more savings and am feeling I am 'still shoring' things up! Which is good but less exciting them saving and investing for growth.

I wrote down the basics of the Roth, 401k, HSA so I am clear on withdrawal rules, limits, tax deductibility.

Trying to learn!

And what are peoples views on the 401k vs Roth?

Do one (which) or both?
Thanks all.

Hi guys

I get possible news today on TAXES (hoping for a BIG refund, $10k+) and my aunt may give me $7k.. Talked to the guy who owes me $6000.., motorcycle has not sold yet but he is thinking by June. I will put most of this money towards the rental emergency fund (got $26k left to fund) and the other goals on the left.

I have a big go live this weekend (hopefully goes well) will ask for my extension (going for a year) either end of this week (if things look good and boss in a good mood) or next week .

Boss is gone the entire month of April.

It is raining here but a nice spring rain and I can smell the earth and plants.. wonderful!

Also talk to property manager today (possible new one..) to confirm we are all set for the 6 homes. She wanted to review leases etc first and then will talk to the existing PM.. and cancel his agreement

2 flat update.. Guys upstairs are leaving April 1 (they are paying through May 1_) lady downstairs who was stickered may move upstairs. If so this means she is in a legal apartment. Plan is to settle w her through the end of May, have her switch the utilities to her name and 'walk away'. House sells 4/17 and remains in my name for 30-45 days afterward util sale is confirmed. Renters can stay through term of lease or 6 months whichever is less.

Have a great day guys and keep pressing forward.

I feel I am getting things done and smoothing things out so I can move forward.

Hi guys

Added $1287 more to the personal emergency fund.., got approximately $500 left to go to reach $18000 and then that goal is REACHED!! I get paid tomorrow and per my projections will have the cash.. so finishing it up tomorrow.

(jumping up and down)

So.. if I get the ok for the job contract renewal in the next week or so..are there any higher rate options for this for 6 months or a year (will find out term of renewal too). Any ideas.

It is currently at Barclays at .9

I would not have been so motivated (and CONVICTED) without you guys. Thanks!!

Rachael

Hi all,

In serious need of a vent... feeling very stressed

My taxes are still NOT done and I do not know how much I will get back (it will be between 7-14k I believe..) Accountant is still working on it (or not. he is swamped w corporate taxes this week). My accountant is now saying next week. Crazy upsetting. I know he is swamped but I feel jerked around.

Good news.. my 3 unit property manager IS interested in all of the 6 homes. I had a great talk w her Saturday last week. I am nervous about how to talk to the existing property manager or how to engineer the change

Contract w current prop manager is dated 5/1/13 for a termn of 1 year and says I need to give 60 days notice to cancel, basically account for all disbursements, rents etc up to the time he has the properties. so figure I give notice this week?? but what do I say/I do not want issues and what if the 3 unit lady does not work out? I just let him go from the 2 flat but it is being sold 4/17.. and he had no issue. would not have wanted him on that long term either.

Any thoughts guys?

Anyway I am feeling the switch will be great/awesome. I have so much more confidence in her but nervous w so much at stake and things are tighter right now as I build my emergecy fund (and still do not have taxes, money owed to me etc, just took over hard money loan, asking for renewal at work next week)

Jsut feeling stressed (in general) and it is coloring my view of everything and an extra 10-15k in the rental fund would help that.

Anyway. I am so frustrated w the taxes thing and still trying to SMOOOTH out my life by being prepared for emergencies and having a plan..

Question guys. and I know there is all sorts of advice on this on the web but that pertains mostly to saving $ for retirement and how much to save. but trying to figure if I have monthly income how much to save and I guess trying to figure out what I want too..

I was at a get together last weekend and 4-5 people were RETIRING at 53 or something. They all worked at a company their whole life and had pensions etc.

I do not have a pension. but I want to retire early..

So.. if I were to retire in 5 years (is that realistic? 7 years??) I figure I need the house paid off, emergency funds built for me and rentals, the rentals paid off and how much in the bank??

Rentals will throw off between $5500-6000/month NET.

Monthly estimated costs (w house paid off). These are estimated high and not my true costs now

$1200 real estate taxes
$450 health insurance
$400 food/household
$400 travel entertainment misc
$350 gas for car
$100 house insurance
$350 utilities
$100 phone
$220 cable/internet
$350 car allowance (to save for car or for repairs)
$300 misc??

$4220 a month.

I do not want to retire and do nothing. more want to feel I do not 'have to work' making a big time income. Always been the thought but seeing these guys retire on pensions made me think about it much stronger.

So how much do you thikn would be a fair savings amount? $500k, $750 (to add to my monthly net income)

thanks for any and all feedback

I know I have low savings right now but I will work on that once I have a #. My original goal was $300k in 5 years I think I want more than that.

Hi all,

Quick update and diary keeping so I can read later.

Added another $500 to the personal emergency fund today.. ALMOST THERE.. approx $1800 left to go to finish that

First payment to hard money loan done.. WOW

Taxes not done yet.. still working on raising refund. initial hope was $14000 (WOW..) based on a quick look and loss carry forwards.. however loss carryforwards expire or go away w the home they are for.. a more detailed look Tuesday by the accountant put me at only $7000.. he is seeing if he can revise it.. reason for MEGA decrease was because some of the loss carryforwards were on a house that went away. News soon hopefully

Still need to talk to my aunt who pledged $7000 in the past if the house came through (which it did!!)

and that loan I am owed $6000 (figure that will come in the Spring)

All rents basically in.. no issues.. still need to talk to water company on reimbursement

No new news just waiting.. working on house (fun stuff and tightening up) and hoping for warmer weather

Also trying to 'do well' at work. I am up for renewal in June but will make the request late March

Have not worked or started consulting stuff. been stressed w not for profit that I either need to give away or clarify and get control over (feels out of sorts and running a little off the rails now.. adds stress to me)

Hope everyone is doing well.. lots of good news on the posting.

Can not wait til both emergency funds are built so I can start building again.



My accountant and I talked 2 nights ago and I was all stressed about rebuilding my funds and he said to relax and enjoy the positive and said I am 'almost 80% there to my goals'.. That is true never really thought of that but my big goal was to get $8000 monthly cash flow in 5 years. if I just keep the homes and 3 units I will be at almost $6000.. I am building emergency funds now (will be done this year), the rest I can invest, I have health insurance, own my house now (w a mortgage), so I think I should give myself more credit than I do sometimes. but still keep focused and take some more time to have fun too.

HI all,

Guy who was moving out of one of the 6 homes .. moved out! AND we got someone who moved in on the 1st.. at $50 more and we still have that garage to rent. Trying to cut my losses every month. So far in 11 months. I have cut the estimates and averages by about $1680 a year. This will be the year of rent raises (fingers crossed) and renting that garage out..so trying to cut it more... expecting taxes to go up this year too.. so looking at every cost. only costs I have are maintenance/repair, management (can not reduce) and vacancy. Opportunities to get more income include that garage, raising rents and laundry at the 3 units..

Anyway.. found some old notes from 2008. with what I had then.. interesting. I tried to figure out what I would have had now if I had gotten 8% interest for 6 years with no further deposits.. (on the right side). Something to look at. I want to make up what I had and more.

News from ACCOUNTANT TOMORROW..(hoping for big money big money big money) on my tax return.



and the hard money payment has not come out yet.It was due to be withdrawn the 1st.. so should come out today.. I am feeling 'sortof on hold' as I wait for that to come out.

Have a great day all.

All,

For those that do not know I have a 2 flat ( is not listed in the side or any calculations as it was known it was going away)that I am letting go via foreclosure. It does not impact me or my credit as I filed for BK Chapter 7 years ago. I thought I had til May though .. looks like the sale date was set for 4/17.. wow..earlier than I had thought.

The other property manager.. the guy who did not return my first call etc.. said he did not want the homes (via text!! disappointing). I asked him why and it appeared he did not want stress trouble etc as they are already managed by the other property manager who he knows.

Upsetting. I sortof took it personally.. I am waiting to hear if the 3 unit property manager wants to take all or some.

In the meantime I need to work on a way of how to get the original PM for the 6 homes to be tighter . He is (hopefully_) getting this one house rented super quick which is nice. Maybe more written communication vs verbal.. guidelines for when I am involved.. will think on it and ask some folks to help me draft some stuff up.

Maybe I need to be more involved. give him more guidance.

I do not know. upsetting. feeling down. I hopefully talk to my accountant today and he is always 'logical' and 'black and white' which helps me. I can be more emotional at times and forget the positive.

Quick update

I have been working w this Mint.com site and it is helping me see sortof hidden areas (fastfood, misc stuff, auto withdrawels) etc.. Very good for that

Having a hard time getting my transfers to show up correctly in an easy way(I do all sorts of transfers from account to account to savings and the LLC for the real estate..) but working on it. I may just drop them from the budget.. do not to waste time and I am using mint to get a handle on my unfixed costs.. food, misc etc..

Good idea to do.. and will definately help me track things in the future. Overall food costs (w fast food) probably will end at $390 for the month (includes grocery misc). I think this is super high.. $28 a month for more auto withdrawals I need to cancel.

New renter for that one home is looking positive. Income proved out. Hoping to sign a lease tomorrow or Sat. I will keep all security for current tenant (current property manager says we may need to do some misc cleaning but overall looks good)..I am going to suggest we give the renter a break of some amount and have them clean.. I will use this extra windfall (security deposit) to build back up the repair escrow (that the prop manager holds) which suffered that large expense last month of $2000 for water.

Asked good property manager which homes she is intersted in..

Still waiting to hear from other guy. Maybe he did not get message? not good sign.

Water company is 'waffling' on reimbursement. Talking to president tomorrow. This is the EXACT reason I do not like the current property manager. I may be stuck with this $2000 bill because things were not run tightly. Upsetting. Bill he gave me was not detailed. I will ask him for a detailed bill and then call water company president. VP said 'you know we are just a small company. we do not have a lot of money.."

Will set up consulting work this weekend (start getting that organized)

Doing taxes MONDAY!! (or sooner)... fingers crossed .. hoping I get a LOT back. total Fed tax paid was $14k. so I will get some percentage of that back.

and my FIRST hard money mortgage payment comes SATURDAY. $2970. Everything is on hold til I see how that works... so thinking I will end the month w $2800 to go to the personal emergency fund but holding that in my account into this big withdrawal goes through.

About it for now. I want to hear back from these other property managers. Upsetting that I have not.

HI all

Busy time and INSANE at work. Been feeling scattered and a bit stressed.. up and down...

Updates

DENIED for Chase Freedom (big mistake to apply. hellooo.. what was I thinking)

3 unit lady (who I love) drove by the homes, likes them, had several questions and will let me know by end of week which she can take (if if I go that route)

In the meantime she showed her prowess by getting the 3 unit guy who was late to pay FULL rent and $210 late fees and March rent. awesome! He is back on track now and looks good for the future

6 homes. another story. No good news on water issue (not resolved, but water company is working on it, digging, trying to find well, insane, saying it is too cold for a backhoe) .. they almost got it in last week w the warm up but did not.. I am asking them to put in writing they are reimbursing me for my costs.. $ TWO THOUSAND!! (yes big costs.. that was to dig up to the street and prove the water issue was not with us). I want this reimbursement!!

Also that guy who moved in 2 months ago and lost his job. He is moving out at the end of this week. Packing up as we speak. BUT we had 4 showings so far and have a tenant who looks good on the line (and she wants to move in on the 1st) AND it is good this 'lost job guy' is voluntarily moving out. I will keep at least 50% of his security to pay to fill it.. Hoping to come out ok here and rent was raised $100 and STILL getting showings. awesome.

The other potential property manager. i have asked for refernces, rates and costs.

Accountant is swamped (he is super good) and have not done taxes yet.. want this $ and to know how much it is. calling him today again..

Should end the month w $2500 to go towarrds emergency fund. would put me at $16000 so $2k to go for normal emergency fund

AND guy who owes me $6000 may have it 'soon'.. he is sellng his motorcycle and has a showing today. And HE called.. fingers crossed.. all goes towards rental emergency fund.. he will give $5k after motorcyle sells and the rest later. Thsi will go to the rental emergency fund.

$4-8k tax refund will go to rental emergency fund as well

and may have $5000 from another source

Have not sold car yet but am definately warming to the idea.

Been doing odds and ends on the house.. tightening things up. have a SUPER handy boyfriend (engineer and grew up on a farm.. good combo).. put in new lights in laundry, and back room, fixed shower faucet and other random things, helped me move and throw out things, set TV in exercise room.. overall house looks 'neater/ cleaner' and definately more tightened up.

Can not wait til Summer to tighten up the outside..

I paid an average of $45k for each of the 6 homes and pulled comps nearby for a friend and my two homes on 1 street should sell for near $100k each or one over that price..

and lastly.. 'the 2 flat'.. told tenant she had 30 days to leave.. (based on not doing egress window.. city says apartment is not legal etc).. I am concerned I am going to get some push back from her(already have). City can fine me if she is not out on time.. (April 1).. I will follow up w her every week. Told her if I get any sense of an issue I will have the city 'sticker' her unit at which point she must leave immediately.

have not started consulting work and need too.. $120 hour..I want to get over this emergency fund hump asap!! I will be more relaxed then.

Hi all

That 3 unit guy is paying and getting caught up in full next week. Love my property manager on this one!

Testing day at work went well (I run datacenter migrations for this company for banks.... crazy insane job!)..I will ask for my extension in mid March though. Boss is gone ALL APRIl so I can likely work at home more then.I currently work at home 2x a week.. but lots of people work at home there. normal for company..

and talked to my accountant. he thinks I can get between 4-8k back on my taxes. Hopeful look!! that would be awesome. News next week. We will meet then.

I want a cash cushion... used up all available cash w that short refinance. After the 2 flat drops... unless I pick up some consulting jobs (which are fun and have 3 possibles in the works) I am going to have a BIG drop in savings and my plan is to fund BOTH emergency funds this year and breathe a little easier.

Happy Valentines Day all. The sun is shining .. feels good and fun to see it through the windows...and I got a free coupon to wash my truck (filthy!).. and am then going to dinner.



Rachael

Updates

Chase Sapphire . did not apply for.. afraid I would get denied

Did apply for Chase Freedom

Going to Costco Sunday to check it out

Having a good rental month. all mortgages paid and costs were low.. putting this monies toward my emergency funds once I get paid tomorrow and have final accounting on rentals.. (early next week) and setting up a better routine and filing system.. feels good .. more in control..

6 homes person (who lost his job). looks good to find another one and stay on.. (not sure yet though of course, til rent is paid)

and news on 3 unit person tomorrrow

I want to work on extra income here (that side work I do) .. get my 2 funds funded faster.Be So happy when I have these emergency funds funded!

hi all,

Back to tracking things so I can review this later and learn some stuff and maybe you can learn from watching.



k.. starting Dr Atkins for a week. get a jump start on things.. I am working out which feels good but got to lose those 8 lbs I picked up w the short refinance 6 month saga

GOALS.. (still firming these up) but for sure $18k to personal emergency and $36k to rental emergency fund

Should be able to complete personal emergency fund by April 1

I will be so much more secure these funds built.. hello??!!.., why did I not think of this before

I DID contribute $3500 to Roth this January and for now keeping 401k at 10% (get 3% over that from work too) will likely decrease once 2 flat drops off (3 months??)

'6 homes'.. one renter lost his job.. paid his rent but represents a risk.. property manager is talking to him today to see how we look for next month or if we need to take aggressive action. I talk to Prop Mgr at 6

'3 units'.. one renter did not pay rent this month. these are the buildings I have that super old timer prop mgr on. nice older lady. straight as a whip.. she says she will have it worked out by Friday. she knows this guy and his Mom and he has lived there for 6 years already. 5 day notice given...so hoping for resolution in some way. also discussed raising rent strategy. we will start raising w the first renewal in April and have many in the Fall. also going to get the Fall ones to renew on a year and 1/2 or something so they are stagggered. right now 4 people have leases ending in November. not good.

My house is a ranch so lower angle roof.. had to install gutter roof heaters last week ($290) to prevent water dams etc.. VERY bad winter

one of the 6 homes (they pay rent). the water companies lines froze (theirs not mine) and they have been out there trying to fix it for the past 2 weeks but bringing water in the meantme.. they are digging up all sorts of holes in the yard but the city attorney is involved (I called) and they will be fixing the landscape, giving this lady 1 year free water and reimbursing my costs to prove it was not my pipes that froze. Why don't I get 1 year free costs!!

So.. some excitement and risk but to be expected w 6 homes and 2 3 units and being managed but would be AWESOME if I had those funds built and of course had these paid off, had thousands in investmnts etc etc.. but I am where I am at

May sell Genesis.. still thinking but can not even get it down the driveway right now or on the street w the snow... so on hold.

MONEY

Goal this week
1. visit costco. see if worth it
2. look into Chase Freedom/Sapphire, see if worth it
3. form a plan to start my consulting again /$120/hr.
4. pay all rental bills.. and GET ORGANIZED w a routine.. way disorganized this month.. crazy w the house and work
5. figure out an easy plan to track unfixed costs.. tried Mint. not liking it. may do Excel.

Hi guys.

Been quiet a while as I am SWAMPED at work (from doing very little the past 4 weeks) and getting over the shock of this house I bought.. also was getting a little down and started losing my confidence a bit w my plan. I want the advice but can not lose my confidence so took a break there and learning.. growing on my own too.lots of good resources folks have referred me too.I would not have started the 401k, Roth and some other stuff without the support of this blog or accountability

I strongly believe in the power of intent (the book by Esther and Jerry Hicks) and the phrase 'if you beleive you can you can'.. can not really get super far when you are afraid you are going to fail or focusing on negative.. so acknowledging the challenges but shifting my focus towards 'I can do it' and solving them

This years goals are in flux.. but I am starting to think about the following
1. Finish personal emergency fund by April 1
2. Build rental fund to $36k AND THEN start saving/investing

so until then.. pretty much all savings goes there

I feel comfortable w that... actually having a $36k rental emergency fund would feel SUPER AWESOME!! WOw!! Very good ideas (thanks to the readers who suggestd it)

Also will ask for extension in March (boss is gone all month April) feel good I will get it but will know then so can start looking if need be

Other than that.. gained (cringe).. probably 8 pounds these past 4-5 months ( I tend to stress eat .. shhh! )of the 'house saga' but on a good note I tend to be fit and trim and already got my work out room set up.. and been starting again so feel it dropping already. I am so excited about my workout room and that I can settle in the house. already having folks over.feels good

Feel like calling my ex (I will) and say I got the house. We are on good terms and he knows how hard/insane the road . So excited!

Life is good.. getting 'settled'.. and figuring out 'the plan'.. need to get that emergency fund built and work on tightening up the rentals.. being proactve... learning and getting ORGANIZED.. Lot to do but also want to enjoy life a little.. Wow I did it (w the house)..

All rents in though so feeling good..and winter is almost over (feels great!)

Here is to living and learning and moving on.

Good to read everyones posts and blogs.. lots of success out there. immpressed w Petunia100 and her month budget and actuals. I need to post that!!

Guys,.

First off THANKS for the advice.. thoughts.. sometimes hard to hear . special thanks to 'Another Reader' for great points

Ok.. for those who have not been following me. I have a 5 year plan... started approx 6 months ago.. goals for that plan are to the left. As part of the plan I bought 6 homes and 2 3 units on aggressive payoff terms (5 years-6 homes, 7 years-(2) 3 units). I can not now change these payoff terms and they were based on the fact that I would have no big expenses (house)on the first 3 years. I DID NOT expect to be able to settle on my house or buy a house for at least 2 years. I just closed on my house (bought out the mortgage at a discount.. all good but leaves me VERY cash poor and in a risky position). Doing a short settlement w the bank for the house (I live in) was at 12% and I can not refinance out to normal rates for between 12-18 months. I used up all my liquid savings for the points (6) and fees for this loan and tax escrow. I Retained my emergency funds (rental and personal). House I live in is in very good shape. 3 units in very good shape. '6 homes' are in 'ok;' shape and more volatile right now until we 'smooth them out'. All are run by a manager. I have full taxes escrowed for this year for MY house ($10k) and escrow for the 6 homes/3 units in the payments.

Other background. I founded a not for profit years ago that I get paid approx $1500 a month for (I was going to turn that over to another NFP this year but with the house payment. thinking maybe I should wait a year). I also have a 2 flat (in foreclsoure being sold in next 3-4 months).

ok. Income and expenses attached

Note: salary is NET (including 10% 401k)
Huffman is the 2 flat (dropping in 3-4 months)
Utility reimbursement will drop w Huffman
Not for profit I can control when I drop that
I DID drop the Genesis car payment for a year

Please let me know your thoughts

I want to SAVE (if poss) build cash reserves and build portfolio so I have more cash (not almost all real estate). I also need to be SAFE because if I miss a payment the entire house of cards may fall down.

Dropping Huffman subtracts 2093 from my income
Dropping the NFP subtracts $1558 (1000 less income, pick up $558 costs)
Dropping both subtracts $3651 from my income and I AM NEGATIVE (I can decrease 401k and can take side consulting jobs. have not pursued that at all but have 2 people wanting help now.. $250 for both..estimate can make at least $500 a month w that.. cash )

Full salary/no 401k is $6776

Contract (for work) up 6/2104 but looks good (tho not guaranteed for renewal). Estimate 3 months to find a job if I lose this one. I will know on renewal in Aprl and can start to look then if necessary. This is right in the middle of a big Migration.. so possibly unlikely they will want to give me bad news then.

Networth is correct ('left' next to reserves meant what was left to meet the max reserve I need)

Attached net worth, income/expenses, paycheck distribution. yoou will see costs for paycheck 1 exceed my paycheck so I must save part of paycheck 2 to meet paycheck 1's costs

Quick question to all.

No closing time yet

Other stuff.

I pay doublepayments on my car. I am so far ahead I do not have to pay anything at all until 6/2015. Interest rate 3.15. Left to pay .. around $17800. Months left at doublepayments -17.

With the new payment for the house.. I will have a very difficult time saving .. especially once I lose the 2 flat.

I was considerinng stopping payments on the car (total cost of this for a year is a $600 interest charge that will accrue) and instead use the doublepayment amount ($1008) each month to quickly build up my rental emergency fund to $15k and my other emergency fund. With the house payments I want to be as safe as possible.

Thoughts?

For those that do not know.. my house payment will be very high (12% hard money lender) for a yearish and then I can refinance out with a normal rate/cost loan.

Rachael