5 years to Freedom

HI all,

New job jitters. I start tomorrow.I should know 3 people there already.. none were super great friends but 'work friends' (all guys. I want some girl friends! to laugh and joke with ).. I have to dress dressy business casual for this job and drive (just looked it up).. FORTY miles each way.

REALLY wishing those work at home job worked out and wondering if I should have held out for one.. having regrets.. second thoughts based on the drive and dressing up. I have not had to do either in possibly 6 years..

So NEW change.

HOPE it is not as bad as i am working it up to be in my mind. JHearing about those (seemingly GOLDEN) work at homes jobs really changed my perspective... sortof like when a salesman shows you something you fall in love with and then find out you can not afford.

Anyway.. onward.. I will leave an hour and half early tomorrow but normal drive should take 45-50 minutes.. some guy I know lives out here too so I will ask him his route.

Hoping to start flex time asap so I can get their early and leave early.

I CAN NOT WAIT until I am not so tied into making as much money as I can .. just want these 6 homes to smooth out and then eventually get paid off and everything else to smooth out too. It did not appear difficult to make $100k or $50 hr with work at home or Naperville jobs.. just do not want to take that drop right now.

Should hear on loan tommorrow (in writing)and possibly the 2nd chance $60/work at home job..

Afraid I will ahve much less freedom and flexibility and time with this job I took.

MAJOR pre job second guessing happening over here.

I am starting either Atkins or hte Wheat Belly diet tomorrow to drop 10 lbs and resuming working out. I drop weight easily but have not been working out at all. Working out MAJORLY helps my stress and confidence.. I never did gain the weight back I lost on Atkins (4 lbs) but want to have these slacks fit looser again.

Prayers that the loan and 6 homes work out quikly this week.. TOO MUCH going on!!

I am still actively looking for work trying to mail down a work at home job.. if I suddenly fall in love w this job I have I will stay but until them seeking nearer and work at home

Will start looking at cars.. Honda, Toyota or Nissan Altima to start figuring out the car decision. (used)

6 homes update.

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

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

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


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

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

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

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

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

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

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

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

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

Hi all,

Whirlwind week (seems longer). My boyfriend took me on an impromptu 4 day trip to Gatlinburg, TN,, nice ...stayed in a cabin, did the zipline, hiking and other stuff.. We took the Genesis and it got over 30 mph.. still figuring out the cars.. now thinking to either sell Tahoe/keep Genesis or sell both and get something like a Camry or Accord (used). Figuring that out

JOBS.. NEITHER of the 100% remote jobs worked out yet. First one at $60.. I responded incorrectly to a VOIP question (saying I did not use it that much) and later found out the job was mostly project managing VOIP.. WHOOPS!. MAJOR error in prep by the recruiting house. Anyway they have other PM jobs and are considering me for those (hopefully). $65/hr job. no response but they have hired 2 people.. recruiter concerned job is filled and I got in too late. We shall see. I start my NEW job Monday.. $65/hr.. large company.. 50 minutes from home but flex time and 1 work at home day a week (after a month on the job). I WILL STILL LOOK for a 100% remote job in the 60-65/hr range. Got a few new blouses and am approx 10lb overweight for several outfits.. my incentive to lose.

MAIN HOME REFINANCE.. exhausting but we 'appear' to have good news. I say 'appear' because I do not have paperwork yet.. Approved through 'pre underwriting' at 6%, 5 year term, 30 year amortization, 1 point to the bank, 1 or 2 to the broker .. HOWEVER they will only do 60% loan to value (loan I have now is 65% LTV)..appraisal soon.. house must appraise at $495k or better. Broker is NOT concerned w the appraisal coming in based on what he looked up online etc. I AM concerned based on the fiasco last time. They asked for my title company from last time and have contacted them for a quote on a 'updated title' and hten will get me the Good faith estimate and term sheet. PRAYERS and fingers crossed. They want to close by the FIRST.. (9 days .. insane. .) This will use up much of my emergency fund to do this but will be worth while big time

Post is getting long will update 6 homes on next post..

Hi all,

Changing news.. a little stressful.

Last day of work for me is today. I am a senior project manager for datacenter migrations at the worlds largest banking services provider basically in the world. If you have a bank we deal with it. First day at at work at new job is the 21st. I took a week off. NEW job is a 50 minute drive either way, requires business casual dress (I can wear jeans now) and my role is basically 'additional staffing'. SO they need additional project managers for random stuff (server upgrades, software rollouts, whatever.. projects are 3 months to a year and I handle a few at a time.) and they anticipate this need for some 2+ years.. It is at a large well known company

I took this job because of the ones offered it paid hte most and had flex time and one work at home day and I liked the atmosphere and drive was not too bad

I am now having second thoughts because I have 2 calls from serious recruiters and am in the works at 2 large well known NETWORK companies for datacenter migration work Datacenter migration work appears to be the 'rage' now and the new trend. These are 90% work at home. one pays $60 (had interview yesterday and went well) and one pays $65+. I talked to my network engineer friend at work and he confirmed what I was thinking. datacenter migration/network related work is only going to grow as folks move stuff around, consolidate, move stuff to the 'cloud' etc... and it is a more sought after skill set. If I go back to 'average joe projects' (especially server and software upgrades) it may be seen as a step down/backwards and my datacenter migration experience will have 'age-ed out' as more and more OTHER people start doing the work. Also 100% remote work (if these jobs only go for 2 years) allows me to search for work at the relevant time and have minimal downtime. Hard to search for work at an office setting..

Also in doing some driving this week. I really do not like driving in traffic and realistically I am adding 2 hours more to my day with the new job.

I am hoping to get the interview at the other $65 hour job and if I get an offer at either remote job datacenter migration job will seriously consider swapping jobs.

You recall I wanted to leave this job I have now also because no one was at work and I had no peers ( no girlfriends or anyone etc at work or anyone to talk too, laugh, joke, or just warm bodies). I thought about that and with these 100% remote jobs. .. I will go into the office from time to time but also these are such large projects that I will be in a TEAM of project managers doing this work so will at least have PEERS I can talk too and maybe I should just start enjoying some hobbies and make friends outside of work anyway/nearer home.

NO FINAL LOAN NEWS. sending more docs and broker is submitting me at 2 other places just in case but with likely higher costs.. little discouraging. I really want this refinance.

Updates,

Tired today. BUSY day

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

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

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

Hi all,

Diarying here.

updates.

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

JOB

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

Loan

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

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

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

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

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

About it for now.

Hopefully news on loan TOMORROW

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

HI all,

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

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

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

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

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

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

Hi all,

Documenting the journey

JOBS

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


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

6 homes

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

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

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

Hi all,

Too many updates!

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

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

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

**

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

***

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

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

HI all

I got the offer at the $65/hour contract job place.. the full time job where I asked for $125k went w someone lower.. I am ok w that. I like the $65 hour place bettter.. friendlier .. vibrant... Here I have one work at home day.. flex time.. and already know some folks there..

Contract is long term.. looking at 2 years

I get info on benefits Monday and contract (probably start date the 14th). I want their 401k to start from day 1 so hopefully it does.. apparently they match in a year (or that is what the recruiter said).. fingers crossed.

Things are moving forward.

Submit final docs for loan Monday and then news (approval contingent on docs) by mid to late next week

Hopefully things are falling into place.

Looking to sell car.. pay off car debt and make betweeen 3-5k and maybe sell Tahoe and buy a more fuel efficient SUV type car..

I can calculate take home pay and new plan once I have my contract and know about the 401k. I want to max out the 401k

Now just need to smooooth out the 6 homes and 3 units and do something w not for profit and i am smooth sailing.. but just having this is awesome

thanks for the support!

Rachael

HI all

No job news!!



I really want some job news.. tired of looking and want to move on.. I should have news today

Other stuff (task list for today)
1. calll on Genesis warranties.. cancel them.. ($ will go towards lien holder but will reduce loan so I get more $ from sale).. find out how refund works.. how long it takes. should I wait to cancel til car sold. looking to sell car pretty quick
2. clean out cage bank and list. price for it now if purchased new is $4500.. looking to offer it at 2k.. it is 3-4 years old but barely used.
3. submit all loan docs for loan .. they need docs BEFORE they can give me a written preapproval so not as firm as I had thought. bank statements, DL, and ss card and paystubs.. My address is currently at a friends (for llc loan). now need to switch it back for thsi loan. Hope this loan comes through
4. call on this website thing for my not for profit. potential $500 back to not for profit
5. call on website thing for me. potential $450 bacc k to me

Proud I have still retained the $1200 cushion..

I looked into car insurance if I just drop the genesis but keep the tahoe insurance will go down from $104 a month to $38 wow.. crazy. have looked a little bit at some cars online.. w possibility of selling both and getting a more gas efficent SUV .. or mid style sedan

Problem (or thing) is that I REALLY like my cars so if I can not get a nice car I basically just want a low cost car ($10k or less) to 'hold me' over for 4 years or so.. like I do not want to waste money on an average nice car that I will feel I have to hold onto for years.. we shall see..

I DID talk to loan guy about my potential new job ..he said no issue if in same field, same or higher pay and no m ore than 30 days downtime.. I will only take a week off

I WANT THIS WEEK OFF SOO BAD>. need a break

Onward.. Fingers crossed for job news today.

Hope this $65 job comes through.. 1 work at hoome day.. flex time for the rest of the days.. come early . leave early .. miss traffic.. friends and highest rate so far..

Hi all,

Interview went very well but I was not hired 'on the spot' and I am apparently now going to hear Thursday (vs today) which makes me nervous and a little disappointed (i was SO PSYCHED to hear today. .. but liked the job.. not a bad drive at all. flex time (start early leave early if I want)..one work at home day a week and FRIENDS and social contact at the office.. right now I have none.

6 homes.. good management but struggling w all this 'deferred maintenance' and fixing things not fixed right. upsetting.. ..but getting it done.. I will be happy once this is over and we have filld the home the s8 lady is moving out off.. LOTS to do.. but good properties long term.. just short term stressful

LOAN GUY CALLED. (did not talk to him. he left voice mail) that it looks like a GO.. and that he met w the bank president or senior guy.. showed him my file, my letter, my info and looks good. he is going through underwritign pre approval now to get a letter w specific things I need to produce..

Rate (and afraid to say this out loud it is so good) would be 2 points, 30 year am, 5 year term and 6.25!!

Praying right now (before my nextg work call) for this job.. $65/hr. .I REALLY WANT and need the money to reach my goals and settle down a bit and for this LOAN!!

It will be a BIG BOOST if I get the $65 job AND the loan.. wow and then fill that house and smooth things out.

Just hanging in there for now.. Thanks for the support.

Hi all,

updates.

I am on final interviews w 2 jobs.. all that I am waiting is for the job offer. to come this week (if it comes..).. I should hear on the full time job, the $60 job and the $65 job.

Main home refinance.. trying for a 6.25, 2 points, 30 year amortization, 5 year term loan.. NEWS TOMORROW.. (tentative approval, not firm)

6 homes.. lady on S8 we are trying to get rid of in order to raise the rent is CONFIRMED moving out 6/30.. we will look to rent it asap after.. may take a short while to clean it up. not sure.. current property manager out of town but left someone good in charge.. STIll happy I switched

Doing 2 roofs this month (next week).. LOTS of $ out the door but can not wait.. w the rain here (cloud bursts like everyday) need to get them done.. expecting to drop my account by $10k or more in the next few weeks..

CARS. I have 2 cars.. 2011 Hyundai genesis (owe $18k) and 2008 Tahoe. worth probably $22k still. paid off. I was seriously looking into selling the Genesis (should get $23kish) and keeping the Tahoe or selling BOTH and getting just a 'reasonable' car (camry or some lesser Hyundai) that will last these next 5 years and pocket (and invest) the difference.

Final interview tomorrow am at the Z$65/hr job... wish me well!!

HI all

Still looking at refinance offers for the main house.

the 8.99& program for 3 years got pulled
Now working on some 6-7% programs for 5 years

I anticipate a lot of back and forth to clarify and nail these guys down..like I had to do with the first loan... but at least trending in the right direction

Had an interview for a full time job today. should have news next week. I have a fairly good chance at this.. also waiting for a an interview at another $65 hour job and SUPER wanting that $60 remote job.. I should hear on interest on the remote job next week.

Hi all

Exciting news. .feelign good today.

Section 8 tenant looks like she is leaving by 6/30.. hoping for a huge rent increase there and low turnover costs.. just hanging on for the ride now..

and looking like possible 2 offers next week and one remote opportunity (SUPER long term .. larger company) for $60hr working at home 100% (no clothes costs, car gas costs, can eat at home.. healthier..) 401k from day one.... this remote job will may take a short while to work out (if it does) but sounds exciting and larger company. I REALLY thikn I want the remote job!!!!! I anticipate I will be busier than I am here and meeting folks from time to time locally so will not be as bad as my current 40% work at home job wheree I have very little to do and no employee contact ..

We shall see.. onward..

I am trying to use my work at home opportunities as much as I can because likely returning to a 'work at work' and further than I like job.. so biking and walking at lunch etc right now. working on house. but we shall see. Remote job sounds super exciting and all I need to pass is a phone screen and need to submit 2 references.. got one lined up but the other jobs.. will have to refer them to the recruiter vs employer.. hope it works out.

HI all,

Thought I would post a quick networth here... it is fun to look back and see the progress.. October 1 marks 1 year on SA.. wil recap progress then.. 6 homes and 3 units are not in my name yet. they are on a contract for deed but still listed here. Values are the price I paid. I did a lot of figuring yesterday and basically things look positive for the 5 year goal. ..I am not on target to reach it but on target I think for 'year 1'..where I am short is this: pay off the house goal (no plans yet but still stabilizing) and $300k cash (only projecting as of now $170k need to increase this) and 3 units and 6 homes will likely only give me $6000/month. and 3 units will likely not payoff til 5/2019... I have a little under 4 years m more to meet my stated goals so I think off to a good start. but SUPER IMPORTANT I stabilize and have lots of extra cash on hand for emergency. I will be 47 6/2018.. birthday is October.

Trying to stabilize here and get on a routine..

Settled 2 flat yesterday.. lots of drama.. tenants were upset and threatening to sue me... not sure for what. I advised them about the foreclosure months ago..and set them up w a lower rent.. lots of landlords just walk off. I maintained the place to the end and returned security deposit. Anyway hopefully that chapter is closed. They will rent from bank and then new owner now.

Hope to hear on refinance Monday.

JOb interview tomorrow and one next week. all for large companies. one contract at $65/hr. one is salary .. likedly $120-130k.. unsure.

I wish I had word on a job nearer . I am concerned I am going to get offers next week and still not have heard or gotten any leads on local jobs. so far I have been submitted for 4 local jobs.. have no word at all on 3 yet and did an interview on one and got beaten out.

The contract job at $65/hr (likely at least 2 years) appears NOT to offer 401k for the first year.. crazy. I will ask for that exception if I get it. I work at home today and will try to incorporate some job search. I used to just wait for a job to end before looking for another. I will be more vigilant now. it is VERY NICE to have the luxury of looking for a job while working one so i have minimal downtime and I need that.

Marching forward. settling a lot of stuff this next 3 months then things smooth out.. (wiping my brow)

I did open a taxable investment account at Vanguard I am really liking Vanguard. put $1300 in it. I will merge Sharebuilder into that. less fees.

Hi all,

6 HOMES

Breathing a semi sigh of relief.. that renter called and is planning to drop off rent to new property manager Friday. that will complete the rent for the month and I feel things will run smooth after that... course we are still fixing issues etc.. but smoothing out over time. she is also meeting w the old property manager at 5 to do knowledge transfer.. get keys etc. We still have the outstanding issue of the tenant we want out and that is in the works (getting her out). S8 is thinking of 'violating' her and threatening to take away s8 ifd she is not out by month end..

Praying the PM transition goes well and was the right decision. 6 homes are a major retirement component

MAIN HOUSE REFi

Current best offer is 3 pts, 8.99 3 years ..starting Aug/Sept. I verified I have the credit for it. Total savings over 3 years $18000 INCLUDING the offset for the points.

I have called my current lender and am trying to get them to lower the rate and extend the loan (likely less points/fees). I talked to them today and will hear tommorrrow (her time estimate)

NEED SUPER PRAYERS FOR THAT>

Maybe they can do it for just costs.. or 1 point or even 2.. every point is $3k

I know some of you think I am crazy out there for this refinance loan but I do not think hard money loans are coming down.. I think they will be going up (certainly not less than 8.9) and this is an opportunity I need to grab. I need to exit my current loan in a year anyway..Escrowing taxes w the current loan payment will be super hard. I will find it very hard to get a longer loan and why would I want it at hard money rates..

No job yet but 2 interviews this week. I am thinking of taking FULL TIME vs contract (stability, vacation and I think I can get $125k).. I only make $55/hr now so $125k is a big increase.. also I need and WANT stability for these last few years. less stress!!

Thanks for the support.

HI all,

3 goals reached

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

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

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

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

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

HI all

I am attacking food/monthly household costs (toilet paper, soap and FOOD etc)

Any ideas.. and am I doing poorly now?

Per mint.com, I spend an average of $330-350 per month on food and household.. and have (this is bad) an average of a $100 of that eating out. primarily fast food (sodas and lunch)

Trying to cut back and be healthy

I never had a role model at home as to how to shop or cook or anything like that and I am not a big cooker but still thinking there has to be ways to reduce.. even if I just attack the fast food budget (primarily fountain sodas and lunch)

I had thought of doing the cash envelope route.. taking out $150 every 2 weeks .. does that seem low/average/high?

Thanks

HI all,

Refinance offer

8.99/30 year amortization and 3 year term
3 points total
and normal closing cost of estimated less than $3000
2 year prepayment. I can not pay it off prior to 2 years.

This Rate is more than I was hoping. Hoping for 8.25, but points are less. I will pay off the costs of this loan with the savings in 12 months.. and after that save approx $700+ a month.

My plan
1. send a note to the current lender .. see if they can match or exceed the deal. If I go w the current lender my cost will likely be less. The Broker is getting 1 of those 3 points above. Also current lender should have less closing costs (**thsi is done, waiting to hear from them**.. be a dream if current lender coudl do it**)
2. research some other lenders.

HR call at 3pm for another job.

Rachael

HI all,

Refinance update. My 'failsafe' loan option officially fell through. No way to get the FHA Back to Work Loan in 1 year. that is out so I have to get a 'softer' loan than my current 12% loan but w longer term.

I need a bridge loan for 3 years to hold me until I can get an FHA loan under normal guidelines

Broker called.. he thinks he can get 8.25, 3-4 points, 3 year term, 30 year amortization. He will get more detail tomorrow.

4 points is $12000, loan costs unclear at this point but a few thousand.

My payment would go down $739 a month and I would be putting $200 (average) a month towards the principal.

Let's say total costs of loan are $15k. I would make that up in approx 16 months.

My current loan ends in 1 year 6 months so have to get out of it at some point.

My plan
1. clarify details, see what the barebones offer is and ALL costs
2. compare that to the costs of keeping the loan
3.evaluate if it is likely I can get anything better
4. talk to current lender.. and see if THEY will do a similar loan for 2-3 points (saving points and closing costs)

Hi all,

As you recall I bought my house back from the bank for a deep discount but had to get a hard money loan. Loan is 12% interest for 1 year 10 months. I had a fail safe loan in a year at normal rates and was going to try something sooner..

Status.. my fail safe may not work as it mmay not be deemed an arms length transaction. I was able to get around this arms length issue w the current loan on the house (had same issue w lenders) and will need to figure a way to get around it w new loan.I am actively talking to FHA guys to see what can be done.

The other loans are likely to come in at 8-9% w terms of 2-5 years. but are likely to have VERY high points again.. I can not keep paying all these points but may have too. Need to weigh pros and cons.

I CAN for sure get a normal FHA loan in 3 years.. so 2018 but did not want to wait that long .. wanted to start paying off house and hard to do so with such high rates and who knows what rates will be like in 2018

I expect to hear on more loans by next week and will look at costs etc and also should have ideas on how to work around FHA or if I can

I can only apply for hte FHA 6/2015.. so if hte FHA looks likely ( it carries normal mortgage rates).. I will wait a year, apply and see if that loan comes through before seeking out a higher rate loan.

A 3rd option is to find a big lump sum of money to pay it off or pay off a big chunk of it

I have lost essentially almost $3000 monthly in income as of late.. HUGE LOSS...(loss of rental house, reducing not for profit) in the past 2 months am am still adjusting (that is why my finances have been struggling lately as I 'settle up' w folks and smooth out) but w this $3000 loss I realistically without getting more income (new job, side job) can not afford the taxes on this house unless every year I use my tax return (which I can do)

So there we have the update.. onward.

Obviously I can always sell the house if at some point it does not make sense. but not too that point yet. I have quite a bit of equity in the house (and just bought it 5 months ago).

I have done the impossible before.. just got to do it again.

All,

Update. not super awesome. Rough transition but expectedd. (this is on the 6 homes. 3 units are fine)

1. rents-approx 50% in (note I have 70% of the TOTAL rents but 50% of the tenant portion is not in). I was at first told they were all in by the old property manager-PM. Confusion about who is collecting. 2 tenants called and were told to send it to the other person and never sent it. New PM is collecting from 2 homes today. These people did call old PM and attempted to pay last week (so should have money) but were told to wait for new PM contact
2. finding some delayed maintenance items (leaks not fixed etc)..$$ but at least fixing right
3. tenant in that one house not out yet. expecting word from S8 this week on what they are doing.. I will feel SO MUCH more at ease once that is turned over.

Just hanging in there and making my payments.

Section 8 inspection on one home next week. (another test for new PM)

HOPING this turns out well in general.

I do feel we will get someone good in tehre once we move this lady out just upsetting... but no rent loss so far. I am concerned about cost to prepare house for new tenant but new PM is going over there next week to check things out and I feel I can trust her to get things done right for a fair price and to make sure tenant is aware of hte costs to her if she leaves the house in disarray. I did NOT have confidence in old PM w that.

Once tenant situation (move out) clarifies itself I will schedule the 2 roofs (I have money)

Hoping in the long term that things smooth out and costs are less and homes better run/maintained with none of these insane costly situations popping up.

Property manager transition update #2.

WOw.. So glad I switched. already feeling better and more powerful and tenants are listening. including the tenant we are getting rid of. I can feel my life smoothing out as we speak (stil got some work to do but feels I am going in the right direction)

Tenant 1 already switched over her garabge. Tenant 2 (who we are getting rid of) was told we are charging her for xtra costs for garbage (due to her extra people in the unit) and if County comes by next week and issues a complaint or fine we will charge her for it. Also told her Section 8 was being notified of extra people in unit and we expect her out by month end.

We will see how it goes but I LIKE the stronger stance and no nonsense attitude. Some tenant (another house) called the new pm today and already said she likes the new property manager vs the new one.

A letter goes out today to the offending tenant (we are getting rid of) and Section 8.

And all rents appear to be in!!

I feel excited for the future. thsi was such a weight on me.

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

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

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

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

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

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

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

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

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

HI all,

Bad news on refinnace. Broker got mixed up and thought I could go FHA or conventional. I CAN NOT as my last foreclosure just ended last monht (year waiting period to buy, 2 year waiting period or 3 to refinance). I need to get out of this loan ASAP (this year). Anyway broker has some private money too (7%) but he is not sure if they will do this far (Illinois.. he is in NY). Fingers crossed

Savings. Svaings has slowed down considerably last month and this month as my 'house fix up/enhance the house/new beginning budget' has gone up and I had several extra costs (RE taxes on my house were higher than expected etc )then missed some income (not paid to me). Anyway I missed the 401k once last month but am back on track with that. I cut my cell bill in half (that was the only expenses left to cut outside of FOOD) and I also have an auto withdrawl of $325 a month to savings. $125 goes towards the rental emergency fund and $200 towards sharebuilder.

with increasing the rent at one of the 6 homes and getting everything back on track. I hope to have in additional $300-500 a month avail to fill up that rental emergency fund and then start saving more. And that guy sstill owes me $6000.. all of which will go towards the rental emergency fund

I am still holding $6000 for roofs (outside of #s on the left) and will do roofs once 6 homes smooth out (ie this tenant leaves and it is filled)

Also any job I get will likely be at $63-65 an hour which should net me $1000 more a month but still TIGHT and need to reduce costs and more likely increase income and get this refinance done and get rid of other hanging things (2 flat, new job and decide on what to do w my car).

I must decide on the car by end of year or start payments again or just pay it off.

Onward..

HI all,

Property manager transition update ...Old PM JUST sent info to new property manager today at 4pm. He sent phone numbers etc.. still need maintenance records, leases, keys. I am reconstructing my files (PC crashed) so do not have that handy until files rebuild. (I have a violation notice from the county I need to rectify by Friday. regarding having separate garbage., they currently share a dumpster which I pay for and they reimburse, dumpster was fine until one house moved in all sorts of folks, now garbage is spiling out etc, and caused a complaint). ANYWAY. old property manager knew this for weeks and told me one house was getting their own garbage and it was being fixed and there was no issue there... turns out nothing was done. Old PM also sent out an incorrect transition letter (wrong info, confusing) without checking w me first and is not returning my calls. I can not afford missed rent so hoping it does not impact that.

VERY upsetting but supporting my decision to leave. New property manager was pretty shocked too.

I will call old PM tomorrow about the transition and rents etc

Looking forward to a smoother '6 homes' future!

I mentioned before I stutter. with all this stress hanging over me these last few weeks my speech 'crashed'.. feels bad to be having a hard time again. normally the 'fix' is to take some time and relax and have fun again. regain my bounce.

If you have been reading my posts you have seen me sortof slowly descend moodwise.... got to get back up and happy again.

No word on new job applications yet.

Onward.

Hi guys.. tried to get out of my funk today and got some stuff done.

Refreshed resume online and applied for 2 more jobs. one in NAPERVILLE!! $60/hr w remote work and possible for more than 40 hours a week.. one downtown (we went in asking for partial remote) at $65/hr. I will continue to look EVEN after interviewing for these if we get an interview..and will apply for more tomorrow.

FINGERS crossed!

Property manager transition. Old PM a bit cranky, less cooperative. New one a little stressed trying to get her arms around things (she is still waiting on phone #s and info on tenants from old PM). They did talk via phone and decided to let old PM collect rents (he already has some) and send them to me minus repairs etc. I will then pay new PM monthly fee (she may kick some back to old pm). Crazy but hopefully it works. I meet w NEW PM Saturday just to go over stuff, current issues, plan for homes etc. Feeling tentatively good things are in the works.

Section 8 tenant who we gave 30 day notice too and who old PM said was not moving out any time soon but had more than her alloted # of people in the house and therefore costing me money and stress.. I called S8 on her and in one phne call got S8 to tell her to leave by the end of the month so hopefuly turning that over shortlyy (first test for new PM.. ) Potential rent increase almost $300/month w a new tenant! I also got written guidelines for infractions that can cause someone to lose Section 8. I have 4 other homes w S8 folks (good people though) but want these guidelines for future boundary setting.

REFINANCE.. Guy called and thinks he can do it.. bank is calling me tomorrow to verify things and get details.. final details and RATE maybe as soon as this week or next. he submitted at 5%%!!!!

Wow.

Also got 'increase rent forms' from Section 8 so will see if I can get a rent increase (we were told no rent increases mid contract but the person who heads the program sent me the form so maybe she can make an exception). I will see if I can apply for rent increases across all the rest of the homes. It is worth the few hours it will take

HI all

I did not get the job... I did well but just got 'beat out' by a guy w more specific experience. I was REALLY looking forward to leaving. having some time off and finding some SOCIAL contact or friends. I will start looking at church or activity groups to get out there..meet up. biking etc..my church recently moved and I am involved but not the extent I would like

Continue to be bothered daily by 'the guy I am seeing'.. just feeling stalled in LIFE.. sortof like I wake up with out any goals.. as you can see I am REALLY STRUGGLING right now.

I lost the ability to search my email (yahoo..known bug) so am rebuilding my email account from scratch (takes days) and as old notes come up I sometimes read them and see how I was years ago.. happy and sad.. interesting. little melancholy. gets me thinking..I read a note from 2006 when I was just starting the downhill slide and WOW.. the stress radiated right out of the email.


Finally reached old and new property managers.. everything is a go and we start today on the transition. Stressed w how that is goign to go with this late transition and new property manager asked if I wanted to wait a month. I told her I am going to change over anyhow so lets get it over with. Not sure how much cooperation I will get from the old PM

I put my job search on hold short term whille I waited for this job.,. will start again. Last job interview was $63.. first one was $65..I make $55/hr now. I will continue to target $63/65 an hour.

Onward but SERIOUSLY need to get some motivation and drive.. just 'slogging along' here.

HI all,

Quick update.

Property manager transition is NOT going smoothly primarily because I can not reach the old property manager (more reason to get rid of him) and my cell phone died so am off the grid except email and fax.. crazy and using other folks phones . (cell is my main phone)> I get a new phone today (woohoo) and I DID switch my plan.. saved $100!!

Being more responsible with my not for profit and hopefully getting us back on track.

NO JOB NEWS. I REALLY want that job.

Praying every day and praying for news next week (good news!)

COntinuing to love the house .. and work on that refinance. After this refinance.. I should be in the clear.. submitting letters and more info.

Hopefully tentative approval NEXT WEEK (with rate info) be a big load off my shoulders

For those not caught up. I bought my house back from bank (out of foreclosure) at the end of January at a steep discount but had to get a hard money loan (12%) and pay 6 points to do it.. worth it if I can exit it properly and asap. Loan has a 6 month prepayment penalty so can leave soonest August 1. I NEED to get out of this because I can not afford loan payment and tax escrow in year two (or it will be very hard). Year one I escrowed taxes in one big lump sum up front so am only paying the mortgage which is $2970 a month.

THINGS ARE TIGHT and the house purchase was not really in the 5 year plan or at least not now. so I ended up doing year 1 w the 6 homes (still unstable but should; stabilize fast under the new property manager) and funding this loan at the time

Enjoy this day guys. Ending w Deacons Wife's comment to me 'I suspect we will both emerge at the end of this fit and fine'

I am counting on that.. pretty rough right now.