5 years to Freedom

Hi guys

I need to update more. been SUPER stresed w this property manager switchover. whenever I 'procrastinate' on something it hangs over me and I get stressed and down. I need to do upsetting things right when they occur to me so I do not get so upset.

Updates

1. 2 flat, settling up w the tenants as of 6/12... then house is gone! I have the money to settle up.
2. 2 flat ex tenant.. never paid me.. I have someone calling him but considering that gone (loss of $810)
3. refi.. talked to my first best option and sent him paperwork (this is a broker) and he ran it by some folks and INITIAL thoughts are they CAN DO IT (shortly after 8/1). WOW.. still firming that up . got more docs to send and an explanation letter but WOw. that would be awesome if I could refinance out of this loan that quick.. Loan payment now is $2970 (12%interest) AND I pay taxes ON TOP of this.. new loan payment would likely be the same or LESS but WITH taxes. I will have normal fees w this loan and 1 point to the broker
4. paid all taxes (thank the Lord I escrowed!!)
5. Got an interview w that $63/hr job last Friday and did WELL.. they are in a hurry.. hoping to hear this week.fingers crossed and prayers.
6. still scrambling .. primarily because of excessive expenses to buy new furniture, and fix things up with the house but made up my 'shortfall' already but about 6 weeks ago put $3000 on a (buy now pay 0 interest if paid in full in 12 months) Pottery Barn card.. it is in my budgdet to pay it off but wish I had the money to pay cash.. and may need to pay that off 'pre-refinance'. I do not regret the furniture and house fix up. I really needed it for ME.. have not done anything w this house for years and now making it a 'home'.. real proud and excitedd and Happy
7. putting up a new website for my consulting business (in the budget.. no debt!).. should be done in a few weeks
8. roofs are still on hold through the property management transition. I have $6k (not reflected in the left column) and will need $2k more.

So exciting times.. but LOTS going on.. can not WAIT til the 2 flat 'settling up' is done.. and the property management is back on track and my job situation is firmed up and I have FURNITURE . I sold everything so have no where to sit (patio stuff came last week..so can sit outside which is nice) but no where else to sit unless I sit downstairs in the finished basement.

All rents continue to be in but costs and 'missed opportunities' are high w the current '6 homes guy'.. scary to change over but think it is for the best.

I can take a fully paid off home (out of the 6) out of the contract in August..and have that as an extra safety net (can sell at will without encumbrances)

the update. hope you all had a great weekend.

I will post once I hear on this job and with news on the REFI and property manager switchover.

HI there.

Lots of news but only a second here. been workingn on beign grateful and HANDLING this 6 hoomes project manager mess! (at least all rents continue to be in each month).. but other fun news too (share later) For now just job search update.

Been working with recruiters.. got submitted to another company at $65/hr. they expressed interest and came back with $63/hr.. we resubmitted at that and expect an interview request shortly.. either phone first then face to face or right to the face to face... 1 year contract but potential to have longer.. and consulting company has the option to do salary $110k PLUS 3 weeks vacation PLUS paid holidays from day one! $110 is what I effective make now but I have no vacation at all!

Crazy!

Getting submitted for other jobs too. ongoing process.

This is in OakBrook. I am in Naperville so not as far. Business casual. checking linked in to see if know anyone there..

Though I only followed Atkins for 4 days . I lost 3 lbs (and kept it off for 3 weeks w/o trying) so must have been real weight. I will start Dr A again after this weekend (big week at work)

Rachael

HI all,

STILL REELING and off balance and not doing well.

Probably related to a personal relationship issue here (several people have shared theirs.. I may just briefly share mine at some point). feeling like my relationship is stalled and angry, sad, and frustrated with it... wondering if I should move on. I feel like I am on a fresh start, and want to make plans etc and he is not there yet with his life and maybe w me.. we have seen each other for a year but are not talking about doing anything.. he did bring up moving in etc.. I did not respond to it as it seemed not serious. He later said he was afraid to bring it up directly for fear if I said no 'the elephant would be in the room' and figured I was not ready. He says he loves me, does all sorts of 'actions' to show it, he is not a guy who writes poems or says all these loving things all the time (or has long talks) though he says he loves me all the time, talks about future things we can do, wants to be with me etc ec, introduces me to everyone. I guess I do not feel the CONNECTION because I am planning for the future and it is WEIRD having him there and not knowing if he is a part of it or thinks of that. He is extremely involved w the house fix up/tightening up.. SUPER HANDY and loves working in the yard, inside, outside. whatever.. lots of ideas. he is an electrical engineer and grew up on a farm.

ANYWAY..
1. 2 flat gone.. will settle up with tenants based on what court docs say
2. 6 homes.. still have not turned over that one house.. tenant still stuck in s8 limbo moving out. still frustrated with current prop manager. I am feeling like I have to extend him to July 1 as he put in all sorts of costs/time to show the place etc.. original cut off date was June 1...THOUGHTS?
3. talked to the first refinance option (the best option) for my hard money loan. he thinks he can get me out as soon as Aug 1 (soonest date) with rates between 6-8% . I am at 12%v now. I was hoping for 5 or 6 but even at 7%.. my payment WITH TAXES will be the same as my hard money payment now (which is WITHOUT taxes)
4. speaking of which taxes are DUE.. Thank the LORD I keep them escrowed in my account for the house I live in!!
5. Job.. changes at the company.. changes in our group.. likely layoffs.. which means my contract may not get extended after 11/28. I will knwo in June but am looking NOW. I make $55/hr.. hoping to raise that to $65/hr to a DRIVEABLE location. .. no train rides.
6. had someone call that 2 flat tenant who owes me $807.. he told them he does not feel he needs to pay me and filed for BK chapter 7 but left me off because he feels he should pay me something. i am like 'just pay me something and get it over with!'. he still does not return my calls. I do not need the stress.

Trying all sorts of stuff to get out of this brief downfall.. making to do lists.. checking things off. taking care of ME..etc

Have a great day folks.

HI all

I continue to be dragging the bottom here and need to focus and get back on track.. spend some time gettign 'defrazzled'..

Interview. went well but did NOT get it.. they went w someone who took $10 less an hour.

Renewal. I got renewed at work but only for 5 months (11/28) which happens to be right when we have our 'change freeze' and basically there is no work to do from 11/28 thru 1/15/15. I need to know now/soon if it is likekly I will be extended past that because if it does not look likely I will look for work now (good time of year to look).If I wait to look after 11/28.. basically hiring shuts down til 1/15 so I will not be talking to hiring folks until at least 6 weeks of joblessness. Not good.. I have 4 months of savings in case of job loss. includes enough for rentals). NOt an ideal situation to be let go in 11/28. Disappointing

2 flat. Talked to the bank attorney. They do not get the deed or record it for 3 weeks after the sale confirmation. I asked because I have utilities in my name and can not change them over until then. With that in mind, tenants paid 1 more month. I iwll settle w tenants as of 5/31 unless confirmation does not go through or my understanding is wrong.

2 flat tenant (who moved). no news on $807. Contacting him at work today but upset and I have no recourse unless I sue.. upsetting. maybe a loss.

Painters finishing today. hoping it looks good but way overbudget.. $400+

My 401k cancellation (just for this month) did NOT go through..I was trying to make up some of that shortage for this month w that . So full contribution went through and I am $1800 short of where i want to be for the month unless I pull out of savings.. postponing that as long as I can (trying to sell stuff, switch things around, recover what is oweed from 2 flat tenant and start consulting etc etc)

Calling property manager today on 6 homes. Section 8 tenant is still there.. (but looking . applications sstuck in approval process). Upseetting. I want her out and this turned over before June 1..

Also calling motorcycle guy who owes me $6000

Work continues to be insanely stressful and lonely (no one at the office). I was excited about hte new job 'sortof' to meet people and have more of a fun atmosphere and will start looking now for higher paying jobs. Since the first inquiry from a recruiter.. 2 more have surfaced w the same $75 hour rate. I am willing to take $65 if it is not so far I just went in at $75 at this first job to 'throw something at hte wall, see what stuck'.. but still disappointed and motivated now to look.

6 homes and 3 units taxes went DOWN (still getting exact figures but some good news)

Put $138 towards rental emergency fund and $630 more in 401k. and cut cable starting next month by $130.

The Rachael update.

HI all

Good news first.

Interview went very well. News tomorrow. Drive was not as bad as I had thought.. it is off of 355.. vs 294. 50 minute drive there (3pm) and back (5pm).. not a lot of bad traffic and it was raining

Met with two directors... did not meet w hiring manager so was not able to ask about flex time..

Other news. frustrated with current property manager of the 6 homes. again left in the dark... called him today. it is 7:30 and no response yet... pissed. worried as that tenant turn over is not done yet. so that is up in the air..

Boss returned to work but I called in sick yesterday because I was so frazzled with the paint job abnd interview. so no news on renewal. upsetting

paint job gone bad.. guys started.. color in main rooms I do not like so having to choose another color which may impact other room colors (already bought) and just found out they left out a room in their quote.

Work stopped and they are coming by to requote tomorrow and set a time to start again. (this week I hope). meanwhile I am painting paint samples on the wll. .I can be indecisive and it is frustrating! and expensive

and 'hail mary' to the bank for the 2 flat failed. it will confirm on the 13th. no extra month rent.. and the tenant called today because of a water leak. water is in my name there so that is a concern. will fix tomorrow... just a tub handle washer but more $$

I want this 2 flat gone and that tenant (who moved out) . I called him at work. still no word on money and I am not feeling positive.. upsetting

I will continue to call him at work until he responds

Bad news day. tomorrow will be better.

Feeling short of money and bad... and stressed w work and a lot of stuff up in the air. thanks for listening.

and not for profit is not going well and I am feeling like I have no time to look at that. want to close it and just be free.

Hi all

I have the face to face interview for that much higher paying job MONDAY 4pm. Interview is at 4pm so I can see the drive time aftewards

AND the bank may move back to the 2 flat confirmation date which, if they do, results in an extra month of rent for me.

Prayers on both!

and selling one more Craigs list thing (they will be here in 40 minutes)

after that. have a $500+ item trying to sell

Have a good weekend all

Hi all

Day 4 here and weighed myself yesterday

LOTS of new energy..diet is not hard. I am averaging 30 carbs vs 20 but weight today was only 3 lbs down which means i am still in the 'possible' water weight category.

Getting consulting website and charging up and running. charged 2 craigslist things for folks to help facciliate the sale to practice running cards again.

Been swamped at work.. testing days.. and boss comes back next week... hoping for renewal so I feel strong going into my interview.. which recruiter is trying to set for next week

No new $ news. it is so much funner to 'save/invest' something even small amounts eery day or every few days to see the #s change. sortof addictive.. I need to get this consulting up and running and that will help with that.. right now only paid 2x a month

Been a tough month financially but only down $800 now (for bills due around the first) and have plans to get that.. so will likely only need to take out $2500 for roofs (or less) from rental emergency fund

Will call property manager today for updates on turning over the house. I WISH he was like the other property manager who gives me updates vs my having to track him down all the time

Onward and spring is here.

No $ from that ex tenant yet and no word from bank on delaying the confirmation

Have a great day guys.

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 opened a Sharebuilder account so I can start investing w small amounts. I am just trying not to lose momentum here but my main goal is to STABILIZE these rentals, get 2 roofs and save up $30k for the rental emergency fund. I only am $8650 away from my $30k fund.

I figure my part time consulting income will offset the investmnet and force me to get that going.

Got recruited for a $115/hr job .. WOW..

Far.. 60 minute drive but maybe work at home. I sent my resume. you never know. That would represent DOUBLING my income and where I work now I have an hours cap.. (40 hours).. no hours cap at this job.

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.

Hi all

ALL RENTS in across 6 homes and 3 units.

This month I will owe less than $200k across the 6 homes.. getting more roof quotes now (want to do 2 roofs this month) and working on my own house which is fun.. and a nice break. Not doing any repairs.. more tightening up.. and redecorating some.. FUN.. exciting. The house is MINE now.. wow..

Love spring.

New property manager takes over 6/1. can not wait. These homes are a major part of my early retirement plan and I need them running like clockwork. I have $1050 of monthly allowance for repair/vacancy each month across the 6 homes and 2 3 units. would love to save some of this.. vs shelling it out.

My current property manager will start marketing that one home (of the 6) thsi week at a $250-300 rental increase and look to coordinate a move IN at a similar time to the lady we gave 30 days notice too move OUT

Lots of things in play.. Stay tuned but would LOVE a $200-300 rent increase each month and 100% of the 3 unit folks are ALSO due for an increase this year too. looking to raise $10-25 each.

Egress window court update.

Fined $200. Supervision for 90 days (all offenses)
Had the lady move upstairs (out of the unit without proper egress)..city is fine w that

Both tenants are in the process of settling up
One utility bill switched over to the tenant (Nicor)
City of Naper wants $400 deposit from tenant to switch the other one over so I will hold it and 'bill her/take credit' up til house sells and is confirmed

Sale 4/17.. confirmation 30-45 days thereafter

Should hear on RENEWAl in 3 more weeks

PRAYERS and onward.

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.