5 years to Freedom

HI all

Another update.

New job. STRESS LEVEL is dramatically reduced. It is challenging with it being new and my stutter but looks manageable and fun. I drive to Brown Deer Wisconsin Monday to meet my bosses boss and some other folks and I go to Nashville the 17-18 to meet some clients and my project team. Meeting in person will help my speech anxiety. Excited. Boss is not who I thought it was .. they switched it at the last minute. He is in Florida. Basically i have no team mates or boss locally.. little weird but this company gives you lots of latitude IF you get the job done. I am handling a MAJOR project (the infrastructure side). little scary still but hanging in there. Last day of my first week is today (whew!)

ALSO my boss . this is crazy but possible good news. These folks work over 40 hours ALL the time so I asked him if I was capped at 40? and he said he will check the way I was set up but was not concerned so while he checks that (2-3 weeks) I am ok to bill overtime. 'just try to keep it at 10 hours over. do not want you working all night'

TEN HOURS OVER is almost $2000 extra a month!! WOW.

Anyway it is hard for me to work 10 hours over since I have to work at work these next few weeks and this week did not get on the network until yesterday, also waiting on VPN access but at home it will be easier and actually I have the work now to do the overtime so will get in some.

FIngers crossed that overtime works out long term.

3 units.

A rough patch (which I and the Property Manager knew). a little rougher than expected because I did not realize or think that my PM can not go to court for me because his name is not on the lease. it is the old property managers name. This means we have to get an attorney $$

Anyway.. person who has been continuously behind . we are filing court docs on her and the guy who 'just moved in in Dec' we are filing court docs on him. Hope and thought is that these guys will be gone way before court date comes but you never know.. And my property manager did not put these guys in there so we do not know them. Never had to go to court before (except years ago when I was like 20) so this is upsetting. I will get costs/plan today and tomorrow.

upsetting but better to take the loss and move on then have this drag on and on.

Reclaimed both their security deposits to help with cash flow.

First renewal goes out next month ( new lease) for someone else in the 3 units at $630. We will see how that goes.

6 homes still going well. that lady we moved in last year (fire insurance claim) we have no word yet on when she is moving out but it will likely be in these next 3 months. No other pending move outs.. so 6 homes are riding right along there.

and this month I paid all bills and my estimate to the 6 homes/3 units fund already(I subsidize that every month since it is on a 5 year payoff and does not cash flow on its own) and am coming out with a projected $500 short for the month. I have no more projected job income coming in this month at all. I have $1500 buffer in my account though but am going to try to come up with that $500 or cut costs so I do not ahve to use it.3 years left on the 6 homes as of March. Turning these 3 units over and cleaning that situation up should reduce my monthly pay in to $700 a month. Also taking care of these large things helps too. just getting the homes and 3 units in shape and purring along.

Only variable at this point is for the month (1) rents/costs ( I estimated HIGH COSTS and 6 homes rents are in. no word if all 3 units are in but we will be missing at least 2 which are already in my estimate) .. (2) food/misc monthly expenses.(also estimated high) .. probably can shave a lot here.

Here is to hoping I can cover this $500 shortfall with out any pulling out of funds.

Onward.

Estimatimg my tax refund as $11-13k. Hope that is the case. If so. I will fully fund the Roth (need to check with my accountant that I can ) and put the rest towards savings.

Guy with that motorcyle.. STIll in contact.. still trying to sell. HE needs to sell it now too so he is working harder and is in more contact. Remind me NEVER to loan people money again. Anyway that is $6,000 which will put the rental emergency fund back up to where it should be. $15,000

If I can average 45 hours a week at work . I can MAX out the 401k (company gives 3% instantly vested match so all I have to put in is 13%) and then use the rest to save.

Still waiting on interpretation of city inspection report .. hopefully news this week or next and then I will go out there myself to see.

Hi all

My old job asked me to bill an extra 20 hours last week so I could help with transitioning my work after hours. Total billed 61.5. that is 700 extra after taxes) WOW! That is awesome. Also got an unforeseen insurance refund of $100.

I put $1900 towards the vacation fund (as you know) and $500 towards saving to keep me at the $500 short still for the month... actually now only $350-400 short for the month. may put more towards the rental fund. we will see.. My plan/challenge is to make that $500 shortfall happen without dipping into savings.

FIRST DAY at the new job tomorrow.. sortof nervous.. excited.. hope it goes well

14 inches of snow today. glad I got my snowblower as a gift and that I still have the Tahoe.. need to figure out SOMETHING with a 4 wheel drive or the Tahoe.

3 units .. bumpy road but not unexpected. Guy who is not paying should be moving out this week. GOOD NEWS.. need to turn it over ASAP. Will take his security and unit should be in good shape as it was just fixed up last mmonth for him

Other lady who is behind missed 2 payments . we are doing a 5 day notice tommorrow and just getting rid of her. HOPEFULLY she goes fast without a big court thing and then we have our first renewal notice going out at $630 this month to another unit.

So little rough right now but will be better long term to get rid of these bad tenants and bring it back up to market rents.

6 homes continue to chug along but had a 'city inspection on 2 of them' (happens every 4 years).. got a big list .. property manager is figuring out costs and what exactly inspectors wants.. costs/plan next week..many items are small and you never really know from looking at the list as they pick from 'pre written drop downs' to fill in the form

STIll believe in homes and the plan.

Hi all

I work on contract so get no paid vacation through work. This will change if I go full time with this new job. In any case, I decided to build a vaation fund with this extra week of work so put $1900 in this fund today. This is enough income to take off approx a week and a half of work but does not pay for travel vacation expenses. I can afford onesies twosies day offs just on watching my budget each month. Either way it is nice to have as I never had this fund before AND it really helps me see how much 'paid vacation' is worth.

Here is to hoping the new job works out,that they have full time openings and that those full time openings pay at least $110k salary so I can officially end hte job search.

If the new job works out I will discontinue the need (goal) of 4 months emergency fund and instead settle at 3 months which I have already.

Still expecting $500-700 shortfall next month (4 weeks without a paycheck). That assumes not pulling from any current funds I have listed on the side. I am going to still try to cover that by 'pulling something out of a hat'

Onward.

Hi all,

My notice date.I went to work and said I could give 2 weeks notice.. they were thrilled and said they need that etc etc..They also said that my original PO is up THIS FRIDAY but an extension was in the works and I should assume I was worknig for 2 more weeks. They were going to do the right paperwork etc.

Much back and forth and updates occurred and basically they are not able to reach the person ( the final signer) who was to sign the work order so are just going to have me leave Friday.

That was what I originally wanted but upon thinking on it was going to work the extra week and bank that towards a vacation fund. I do not have time to list all the back and forth but how this was handled is very disappointing and shocking and makes me think that had I NOT given notice I would have been dropped anyway with no notice due to lack of the final signature.

Shocking .. demotivating and upsetting

I work at home today and will wrap things up for an end date of Friday.

The project sponsor is all upset and is trying to see if they can override the decision and keep me for a week but not feeling too confident.

tight month next month but onward!

Hi all

Quick note here. I got the PC.. $477 (with data transfer and they were able to recover all my data) I feel good. and WOW.. fast.. more efficient all of that.

3 unit status

goal- raise rents this year across the board at the 3 units so my negative cash flow is reduced by $400 a month
goal-raise laundry income or pull out laundry coin op

1. 4 rents are in in full
2. 1 rent is $10 short and is on a payment plan for $766 back rent
3. one guy has not paid at all. coincidently it is that guy the old property manager put in last month with the long delay to move in, upset, angry calls etc. I am contacting her about breach of duty. this guy denies filling out the application (which means SHE filled it out which I suspected) and his financial situation has not changed yet he has not paid the rent and is unable too. Clearly no due diligence was done and just lies and lies. I called to confront her on other stuff last Friday the conversation got heated and she eventually hung up. I will contact her again today. she is refusing to provide receipts and I believe stole supplies. This lady is like 65 year old.. crazy!!very upsetting. In addition the lease is in the name of the old property manager so it is hard for my new property manager to do the court paperwork for me. I like to avoid court though anyway.
5. currently late fees are not being charged at all
6. rents average around $570
7. all units are the same, large light and bright one bedrooms


PLAN
1. notify everyone late fees start Feb 1
2. have new PM evaluate laundry usage thru March to either raise prices or close and sell equipment (does not pay for itself now)
3. get person with a rent backlog on a written payment plan-encourage her to move out
4. make contact with non paying guy. get whatever we can from him and encourage him to move out
5. let everyone else know all rent renewals will be at $630 and new move-ins at $650. Advise if they want to move out early before lease end date there will be no penalty if we get 30 days notice and can show while they are in there.. otherwise we take full security

new tenants will put down 1.5 months security.. $975 so we are better protected or maybe $800

A little rough sailing ahead but onward

Hi all

I have mixed feelings. I give notice tomorrow.

I can either give notice for 1 week or 2 or a week and some days. I start the new job 2/2.

If I give notice of one week I was going to take off one week for just ME.. no specific plans. just low stress.. have fun

or I can give notice to end sometime the week of 1/26-30.. taking either part of that week off or working for he entire week (which means I start my new job with no break between)

I work contract so have not really had a break as of late. I did take some days off for the holidays but I was doing family/holiday stuff so it was not necessarily a relaxing break

Can I afford it?

I am $500 short for February if I give 1 week notice and take off a week (I( can probably find $500 somewhere and not use up savings). remember I will not have a check until the end of February w the paycheck cycle.. so Feb will be very tight either way. But for some reason I seem to do well with 'making due in a crunch'. I will have very little savings this month with the job transition or next month with no paychecks coming in at all.

If I work the extra week I will save that towards a time off fund so will still be $500 short for next month but I still think I can find this $500 somewhere. I can also just use it towards costs and not be short. this $500 short assumes no savings at all in Jan or Feb and a certain amount from the not for profit.

Just mixed.. I so much want some time off to RELAX. Maybe I work til the 28th or 29th? I will not have an opportunity to have time off for at least a few months with a new job.

I am currently thinking of workig til the 1/28 so get 3 days in

thoughts?

Hi all

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

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

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

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

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

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

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

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

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

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

Life is good. onward

getting new PC today hopefully

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

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

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

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

Anyway.. LOOKING FORWARD.

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

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

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

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


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

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

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

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

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

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

Made the first payment on the new home mortgage!

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

hi all

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

General results this year

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

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

Set some new financial goals to the left

I get my next free and clear house 2/2016

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

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

Need to sell this Tahoe

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

Hi all

feeling better today.. almost Christmas too.

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

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

I want THOSE days back. haha.

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

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

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

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

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

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

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

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

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

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

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

Fingers crossed.

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

HI all

I did NOT get the job.. they went with an engineer turned project manager instead (the mgr had sortof hinted at that BUT they said I am welcome to apply elsewhere in teh company and they will recommend me. I will! Large bank. lots of job always popping up) AND I heard on that other job (that was on hold) .. they are closing the role due to layoffs.

Crazy!

ON a high note. I am going for another job at a prior company.. Downers Grove location.. pays the same and 6 month contract to hire AND also going for a job at my last company (the one I left a few months ago). Job is based in Brown Deer Wisconsin (head of their network operations center) but it is routine for folks to w work at home. so I will explore that. I now have VERY good written references from my co workers to use too and their contacts.. Making calls today.

I am already in for job #1.. Downers Grove.. $65/hr contract to hire. would love to work there again. worked there for 4 years. got merged out then was called back to run their outsourcing contract. so from an IT perspective I know their technology AND the technology and staff where they outsourced.,I reached out to a coworker who just so happens to be a VP now and this role in in his organization. He says he will make sure I get 'due consideration'

They are not looking at resumes til after xmas though

For the other job. Brown Deer job at the comapny I just left. I am going to talk to the headhunter now and see if I can get a phone screen and sell myself for the work at home. . I have no problem driving out there every so often though.

that is contract to hire with a hire salary of $115-120k

Jobs will open up in the new year too but I am only looking super local right now. at home or near Naperville

Fingers crossed.

Got dealt a bad blow there yesterday but still fighting

I REALLY want to settle somewhere so I can stop this crazy job search every year or two so contract to hire is optimal.

Feeling I have until at least March at my job now.. it DOES pay well.. and I ccan get some overtime.. just the drive.. politics and lack of stability.

Onward.

HI all

No interview results yet. Tomorrow am they say. Got a lead on what looks like an awesome job. infrastructure project manager at a company I used to work full time for in 2004. Pays more than the 'interview job'.. I know people .. fun atmosphere, close to home and contrct to HIRE! I am being submitted for it

3 units news. been quiet about that as I am getting so frustrated. 3 units turn over at the end of this month. That vacant unit. STILL NOT filled.. well sortof filled.. Property manager said it was filled and move in date was 12/1..that date came and went.. Pm says he can not come in due to work . then each week he was going to pay something.. and move in 'that weekend'.. today I call PM (he was going to pay thsi weekend and move in). did NOT pay in full..I told her the unit should not have been taken off the market if rent was not inn hand and security deposit.. she says she knows this guy etc.. and this is a one time case.. a large expense last month...child support mix up.. I asked her to send me his application in the am, lease and proof of income. She gets huffy and asks if I want to rerent it > I said I would let her know in the am and if so I will transition immediately. I said I do not care what issues he has or that she knows him I care that he is going to pay the rent on time on the first for the next year. She says she knows what is going on and that is why she feels comfortable. I said I do not and it is your job to convey what is going on so I do understand and feel comfortable if it makes sense to do so. Someone else is paying $100 late too and I asked when that was coming in and she says 'it was either that or the electric bill.. it will be in next week'


I said I wish I could solve everyone issues but I can not .. I have bills too and I need the rent.

Crazy..

The issues with her if you recall have been RENT COLLECTION and filling of units quickly! I can not stress how easy these should be to rent.. and to thikn she held it without a dime after saying it was filled. lease signeed.

Only possible good thing is the she SAYS (we will see what she sends) but she SAYS lease is signed for Dec 1 and so he is paying in full for this month. (or so she says)

Hopefully job news tomorrow..and get this 3 unit straightened out.

I am expecting some turnover at the 3 units next year.

Onward.

HI all.

Thanks for the well wishes..

interview update..mixed.

I was supposed to meet with 3 people.. 2 semi-peers and the director of the group.

One peer was not there. his Mom had some emergency

Met with the first guy for an HOUR.. crazy.. speech held up (remember I stutter.. its get worse if I am tired, stressed or sick and unfortunately I focus on it when nervous and focusing makes it worse).. Anyway interview went WELL.

30 minutes left or so I though.. Boss comes in and we talk for an HOUR (this is 'hard speech situation so to talk for 2 hours straight in a stressful situation really wiped me out).. anyway not the friendly expressive type.. (at all). shot me some rapid fire questions..said he lets the other two screen people so he said he 'was sure I can do the job'.. he said he more interviews for personality and FIT.. Said 3 times that folks from an 'engineering background' do best in this role.. I am not from an engineering background. He gave no 'buy signals' and wished me well.. said 'if I talk to you next it will be in that room (where the group sits) .. if not. have a Happy Holiday'

So.. I do not have the super positive/sure thing feeling I had with the last job but I do not feel negative. I DO think the peers have the MOST influence and my sense was they really liked me.

My written references from their client partner were a HUGE HIT and hoping the rest was.. 3 people were interviewed. I was last. They talk Monday or Tuesday (whenever that guy with his sick Mom gets back) and will make a decision. I am the ONLY one who did not meet with all 3 . though I did talk to that 3rd guy on the phone and he seemed impressed them obviously.

I was LESS interested in the job after meeting w the boss.. (did not click with him) but after thinking about it .. talking to my references friends whoever. I still want it and REALLY want it and this is a MEGA bank that is GROWING so I can get in.. work 12-18 months on contract and switch groups or get hired or whatrever and EVEN if I do not like it .. .I can find a job MUCH easier with a part work at home job then this insane 3 hour a day commute job I have now.

So FINGERS crossed but more Scared Nervous than normal as the boss interview was not overtly positive (though it was not overtly negative either)

I DID call on the Oak Brook job. I am still first in line.. they laid off 100 people last week but say that role is still funded, open and needed.. Maybe that will turn out.

Just need OUT of this crazy job I am at before I get let go.

CEO stepped down last week .. to give the job to someone on the merging company..reorgs and layoffs are rampant.

Prayers.

HI all

interview day.. 1pm to 2:30.. got my suit.. studied.. a little nervous.. going in with 2 written references (from the similar company that is a partner of this company) and already sent call references.

I am one of 3 ..

Fingers crossed and prayers. I will apparently find out right away like Monday/Tuesday next week.

HI all

I got the face to face interview at that place.. Friday at 1pm.. 1 1/2 hours long.

I am calling all my references tomorrow.. studying.. RELAXING and praying

I will work at home that day and then do the interview. 3 were called back and this job is pretty competitive

Prayers. This might just work out.

To make what I make now I have to work 46 hours a week at this other job (equivalent to 40 at my old job but does not take into cost savings of working so close to home and less time per day)... overtime is frequent at this other job and since it is either at home or 5 minutes a way that is not a big deal.

when I work 40 hours a week at this job I have now .. I am actually gone 55+ hours with the 3 hour commute each day.

Gas savings potential $350 a month!

Clothing savings.. eating out for lunch savings and general lower stress and MORE time to explore other income opportunities or whatever.. just live life!

Fingers crossed.

HI all

Job interview. phone interview.. hour and a half..crazy but WENT WELL!!

$56/ hr (I make $65/hr now).. but THREE (count them.. THREE OR MORE) work at home days.. and the rest is LOCAL Naperville.. similar job to my last job (not the one I have the one BEFORE it).. network project manager for banks.

18 month contract or contract to hire. apparently LOTS of work.. and overtime (at straight rate). average 45-50 hrs a week .

Really want it..

I hear on if they want me in for a face to face in the next few days or by early nexxt week.

FINGERS crossed.. This is with a BIG BANK.. (people in Naperville must know which one) but super excited and hopeful..

Fingers doubly crossed.

I have to have 2 things happen now.. (1) asked back for face to face (2) I will be 1 of 3 if asked back and then get through that and get an offer.

So mch want anohter job

The other Oakbrook job is NOT dead yet (pays $65/hr but in Oakbrook) so I may hear on that in a week or so but they are going through a reorg.

Prayers!

HI all

a NON real estate post for once!

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

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

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

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

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

Have a good day all.

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

Onward.

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

Hi all

Diarying.. got into a crazy car situation today. hit something in the road . got an instant flat in the LEFT lane on 290.. where there is no shoulder.. had to cross 4 lanes with one tire flat and cars whizzing by to get to the right shoulder. Anyway. I am ok (working at home) and new tire and tire fix are free.

Projections. Diarying this so I can see how they change.

5 year goals are to the left.. I am looking LOW for savings and main house payoff. NOt sure if I will push to pay the house off but I think I WIll push the payoff on the 3 units early by 5/2019 . then all rentals are paid for.Savings will be hard to increase from my rate now unless I make more somehow. Estimates in the below are high for savings but like to set goals high vs low.

HI all

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

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

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

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

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

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

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

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

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

Excited for the new year.

Have a great day everyone.

Just diarying

Having great luck on Craigs List.

Elliptical gone.. $75
*decided to keep the bike)
and got a $1750 offer on the cage bank. from a rescue. they need a few weeks to get the cash up but feels good..

I will take pictures and list the Tahoe shortly.. with my recent good luck will list at $23500 and see waht happens.

Back to work Monday. HOPING that job in Oak Brook revives itself and comes back to life. I expect to hear either way this week.

Hi all

Loan update. Loan IS funding today .. YAY!!!

Got my deed! Cost me $198.. and I now know the process for the other 2 homes that I can pull out early

JOb update.. (this is the 3rd time this has happened).. I was the top candidate but now job on temporary hold. they are going through a re-org.. recruiter says if no news next week I should move on.



Cars.. Carmax was at $20k for the Tahoe.. seems like I can sell it online for $22k. Cashed in the warranty.. $2000.. Genesis worth $18-19k.. (not good resale value).. still figuring out if I should sell the Genesis or the Tahoe or both and get a smaller SUV. Listing Tahoe on Craigs List while I figure that out. Owe $171l1 on the Genesis but if I sell the Genesis I owe actually less because I had a full warranty on it and thzt will be refunded.

Goal-- have no car debt and a car that I can use and will do well in snow. Also feeling I need an SUV for the not for profit but not a higher end one..not for profit can kick in for that in some way if needed. thinking and doing up a excel sheet that I am filling in

I am assuming this job w the LOOONG commute is short term (few weeks/months) but I still have it so need to plan for the commute.. 50 miles each way.. crazy... I currently spend $350 a month in gas for the car.. thinking that will go up to $450 w the Tahoe..

If I am not planning on the car long term I shoudl sell it now because resale value is really dropping. Tahoe is really holding its value in a big way.

Happy Thanksgiving all!!

HI all

Talked to 6 homes property manager. He was about to refer someone for my vacant 3 unit (that the current pm says is filled and moving in) for $650 rent.. bodes well for higher rents.

With each at $650 I fully close the negative cash flow gap at the 3 units. that is the goal for next year.

I will switch from the current 3 unit property manager as soon as verify this unit is filled etc..

Main home refinance CLOSED tonight!

I am officially out of my hard money loan! thanks all for the support. it has been a large (curvy) road.

HI all

Got the clear to close. I close tomorrow on the main home refinance. I have to bring $294 which is fine.. rate 5.375%, 5/1 arm. Savings of $1200 a month. This frees me up from the risky high rate hard money loan and buys me 5 years but hoping to refinance to a 15 year conventional in August.

I was not escrowing taxes yet for next year so my 'real reflected savings' over what I was paying is only $261.. that will go to savings

Paying off the roof this weekend.. and other stuff.

Putting $750 more towards savings

Interest in the ellipitical at $75
NO interest in exercise bank or cage bank.I will call animal control and that low cost spay neuter clinic to see if I can get some interest even if I go down in price

Vacuuming my Tahoe this weekend and will get estimates from carmax and this local place

Work is insane.. 90 minute drive home.. and layoffs in 3 weeks.. boss was talking today about losing his job.. VERY high pressure and stress.. but on a high note.. got overtime approval again.. 5 hours. unfortunately they want 3 hours of that TONIGHT.. (tired from long crazy day w work and loan and drive home)

Have not heard on that job I interviewed for .. still hoping for good news soon

Onward.

Hi all

I am setting financial goals to end the year strong. I always do so much better when I set goals

1. sell exercise bike. goal $60-put into savings
2. sell elliptical..goal $75-put into savings
3. sell cage bank.. goal $2000-put into personal savings
4. sell car.. goal $21k-payoff Hyundai, put rest into savings
5. sell excessive xmas stuff at this resale shop-goal $60-put into savings
6. payoff all bills related to roof/gutters on that house
7. have $14000 left (after above roof etc payments) in real estate emergency fund
8. close this refinance loan!!
9. obtain free and clear deed to that one house

I am excited to set goals for next year. I will be setting goals for savings for Me and then setting goals related to decreasing that negative cash flow w the rentals.. I will share the rental goals w the property managers.

Onward.. expecting more loan news today and maybe the closing date.. (they may wait for the updated payoff to set the date,, payoff expected tomorrow).. and hoping for news on that one job.. still no word.. but recruiter says they have not hired someone else and it seems pretty positive for me.. last week at least.

I am praying and working hard. They have another job out there they will submit me too if this one does not go through

HI all

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

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

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

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

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

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

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

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

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

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

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

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

All

Quick updates

Called seller on the deed.. no issues.. he wants me to fax him a note and he will call his attorney to get that working.. YAY

no word on job yet.. hoping to hear GOOD NEWS today.

My job now is very political..stressful and w this high profile program risky.. IBM guy said last 2 people who tried to turn it around by resolving highlighting issues were let go. I am already feeling the heat.. not good at all

hope to have a closing date on that loan today

$3200 more to savings (went to real estate emergency fund and will immediately go towards roof)

Boyfriend bought me $900 snowblower this weekend. NICE.. savings and a quality unit.

Saw 3 units today and took pictures.. made a list of long term items (sealcoat parking lot, trim trees back and either siding or repaint current siding).. I will get quotes and budget for next year

FEELS good to get involved and KNOW my worst case and costs

I DID sign up for 6 months w that lady (existing property manager) with a list of concerns I want her to address etc.. I will cut it down to 3 months if possible..caught her again fudging costs and she is simply not set up to turn these units over fast..I saw it on the 15th.. it was vacated on the 1st and NO WORK was done.. her goal is to have someone move in (already approved and waiting) on the 18th

Units were LARGE, well lit, updated, front and rear door first floor units, nice area of town.. rents are only $565-585.. she does not want to raise rents and is conservative in that way but the research I and Matt (other property manager) has done shows those could go for at least $50 more maybe a $100 more each and they are so small (500-600 sq feet) that turnover costs should be low. I have a $500 loss on those every month (on 5 year payoff).. It appears I can close that gap maybe in full in a yearish w raising rents.. lower costs. thatt would be a HUGE WIN.. this means more savings or more breathing room..

Onward to work!

HI all

Final main home refinance outcome.

Conventional was denied for now. Everything approved (income, credit, extenuating circumstances) but the fact that I converted by chapter 13 bankruptcy to a chapter 7 counts as 2 bankruptcies and (even w extenuating circumstances) I need to wait 3 years from the BK discharge so August next year. Broker will keep all info on file and has a diary note to contact me 8/15 to just resubmit income and assets to get the final approval. 3.6 or less rate if rates do not change too much

Meanwhile.. 5/1 arm APPROVED and they are trying to close next week. rate 5.375%, amortization 30 years, 2 points

MY PLAN.. do the 5/1 arm then switch to conventional in August, 2015. Why not stay w the hard money loan until August next year? (1) even w the points/and cost rolled in the loan (balance increase) .. it is $6600 less to do the 5/1 arm for 9 months then keep my current loan (2) my current loan is being called 11/15 no extension. I do not want to get up to September and find out I can not go conventional. This loan gives me some breathing room.

All costs rolled in loan. Payment $368 LESS than what I pay now AND includes taxes and insurance. I will auto save the $368.

That last roof on that house (of the 6) is being done this weekend
Looking to sell the Tahoe next week.. pay off the Genesis and save the rest
Looking to wrap things up for year end and end strong..trying to pull as much savings out of the hat as I can
Finally calling seller to get that first deed. Asked realtor what he would estimate the SELLING price of that house would be so I have a value. he is researching

Goal w rental emergency fund is to finish this last roof and then build fund back up to $15k and leave it there..

Interview went well. I should have news tomorrow or early next week on the new job.Same rate I am at now.. Oakbrook (much closer), can wear JEANS!!, flex time and they are open to some work at home.. and contract to HIRE if I want to be hired... SOLID household name (on every corner company)

Fingers crossed.

Relieved loan decision is DONE for now

Rachael

Hi all

Over $2000 in savings this month so far with a forecasted $3500 more (which will go right to the roof on that last house)..trying to tie up things and end the year strong and then set strong goals for next year.. need to get this LOAN STRAIGHTENED out.. hard to plan with that outstanding

Loan news

1. conventional guy sent me a text (a text, what an idiot) ..saying they were not able to get it through the system etc and he is basically giving up. upsetting. I called him immediately and will continue to call until I reach him.. loan was approved manually they were just trying to figure out the new system. I need info on details of loan etc.. any error codes so HE can either keep trying or I can try someone else.. very upsetting like he gave up.also called Fannie Mae directly and they need that info to look into it.. they say this occurs w new programs but hte manual underwrite approval is a good sign. I mean maybe we can show more assets, go for a 30 year not 15, or whatever. I need to know the reason it is not getting through to solve it and if for some reason it does not work not I need to know when it will so I can plan.. VERY upsetting this no call back

2. 5/1 arm still pending

Interview today 2pm.. feeling good..prayers!

getting lots of overtime opportunity at work (at straight rate).. maybe can make up to $4-500 a week extra.. crazy but nice..

First full rent month in what seems like a LONG time (July!).. crazy.. finances are much better w full rent.. with the property manager switchover I had 4 months of not full rent and high costs.

Answering questions from Another Reader made me realize I will only owe $119k across the 6 homes at the end of nexxt year.. why not formulate a plan to gather that $119k (or as much of it as I can) and pay them off early a the end of next year

WHAT A AWESOME thing that would be. Can you imagine? even I only got $75k gathered.. be great to speed up the process considerably. I would rather work really hard, think creatively and just get it done.

$119k is not big in the scheme of things but need to think outside of the box if I am in to get there (and need to get this loan settled)

Hi all

been quiet here..

Loan STILl in the works

5/1 arm.. they said it was conditionally approved then found out they did not submit the rental information. This income is not included in my stated income but opens up a possible can of worms. Went back for formal approval or submit more docs Friday..so not as firm as I had hoped

Conventional loan. As you recall this had to go through manual underwrite since I had extenuating circumstances AND we are using that new rule. if you BK out of homes you later foreclose on. the date the waiting period starts is the date of the BK discharge. Anyway.. manual underwriter reviewed it and approved it however in just these past few weeks there is some new fannie mae system (an actual software system) that even these loans have to go through and the underwriter has put it through that a few times and it has NOT popped out w an approval. This is such a new system no one is sure why it is not approving it but the underwriting is trying to 'fiddle with it' to make it go through and to find out what is making it not approve.

HOPEFULLY she does not lose patience w this process..and keeps trying

I REALLY need and want this loan

Meanwhile the roof on that one house is on hold while I wait for loan approval

Either one when approved will close fast as we already have the appraisal

Job news.. my phone screen DID go well. I got called in for a face to face which is next Wednesday. I believe they only called 2-3 in so if I can hold my speech together and sound intelligent I have a very good shot.

REALLY want the job .. $65 an hour.. larger well known company.. Oakbrook. (will share name once hired) and they want contract to perm but contract can go at least 18 months.

Meanwhile where I work now... I am now program manager of this big insane program that is out of control that I am taking over from IBM. I got the ok to work more hours and am doing those extra hours mostly at home which takes some of my evenings but mostly weekends. will try to bill 50 hours as long as I am there.. that nets me almost $1600 a month more

Still believe in these homes/3 units but the financial strain this year w the house (whee I live),the missteps w the new property manager for 3 months, rehabbing 2 homes and putting 2 roofs on and other stuff feels really sstressful sometimes. I want things to calm down and I want to enjoy the journey and I want to have regular savings and I guess MORE savings.. I have only $54k savings with $18k of that retirement. Income estimate onnce the homes/3 units are paid off is approx $7k now but I am lagging behind on my savings goals.

I have 5 months 3 years to go on these homes and am feeling more comfortable/safe as i knock out these 'larger maintenance items' and have a property manager that can FILL the homes quickly..but strained. The house and job being in the air is crazy too..I am trying to do more little things for myself and loosen up a bit money wise so I can enjoy the journey..but some months I feel I am just 'making it' or surviving' and not saving.. alot of this is forced because I cut things so close trying to save/cut corners.. that is why I am trying to loosen up. I have a WAYS to go yet and need to 'make it emotionally' there too

Onward and hoping for good loan news next week!!

HI all

Main home refihance update.

1. 5/1 arm 5.375%.. 2 points. they accepted my old appraisal and are submitting to underwriter now news late next week on approval . if approved should be able to close SUPER FAST

*that is my 2nd choice**

2. 3.625 15 year conventional loan, has been with underwriter a week.. still with underwriter.. they are currently pending for some official documents from the DuPage recorder of deeds that lists the actual date the transfer of the foreclosed homes happened.. when they got out of my name. I assume they need thsi to verify the foreclosure occurred AFTER my BK which it did. Fingers crossed. also shouold have news on this next week. If this goes through I will leap up and down and be done. The loan up top requires me to refinance again in a few years. I want to be done w that. I have a chance of qualifiying for conventional as a new rule came out that if you bankrupted out of homes that were later foreclosed you use the BK date to start your waiting period not the foreclosure date. With extentuating circumstances I fit this.

5/1 arm payment is $2500 w taxes and insurance
15 year arm is $3100 w taxes and insurance

These #s are rounded UP and are a little higher than quoted

I pay now $2970 withOUT taxes and insurance.

Onward. Praying for a loan soon!! (and a closer or work at home job)

SNOW today.