Sunday, August 28, 2011

This Too Shall Pass

Things are happening so fast and when something gets fixed something else goes wrong. What is the problem? The house on Fisk has a terrible problem. It is not that bad because it can be fixed, just now it's going to cost more than I anticipated. The life of a property owner.


Issues on Fisk
The entire wall has to be replaced in the bathroom
Plus some of the floor
The water pipes are leaking in the bathroom which is connected to the kitchen need to be replaced
Floor in kitchen has dropped has to be replaced

Ontop of all that, the next door neighbor has been complaining about the trees in the backyard. I removed limbs that were on this shed. There are still some hanging over the shed, but not on the house.

Not worried about anything. Tomorrow is my birthday, I will be 36. Looking toward making my life better, making the right decisions and bettering myself. There is truly nothing wrong. I may have bit off more than I can chew, but one thing I realized. Will this matter this time next year? No, because if not in Septemember the house will get rented out.

Last night, I sorted out my plans to see how much money I actually spend out every month. I am not doing the things that I need to to ensure that Financial Success will be mine. That is all changing! Taking my time to sort out the important things. I have goals and in order to achieve them there have to be some drastic changes to be made. I will make them and keep it moving. I will look back and so I have achieve the goals I have set for myself. No need to be upset and angry for the mistakes that were made in the past. Correct them and move on.

Also, looking to form a LLC for the properties, must seperate the finances and move from being a landlord to a business owner. The LLC will be WJJ properties.

Sunday, August 21, 2011

Blessings Come in Disguise

Yesterday, a friend invited me to her house.  I didn't know why and to be honest, I wasn't going to go because I was tired and needed some me time.  Of course, I went anyway!  The purpose of her inviting me is that her son and his family was in town and she didn't want to be there with people she wasn't that familiar with.  She invited me and another one of her friends.  I have seen her before, but never engaged in conversation.  Yesterday was different.  We talked and come to find out she has properties too.  She older then I and didn't get her first property until she was 40.  To be able to talk with someone that has the same interests and more knowledge is a blessing.  We talked for hours, and she gave me insight on things that I need to do to better my game.  She told me that at this point, I am just a landlord and now I need to move toward being a business woman.  I am so thankful for this advice!  That truly was a blessing that I didn't see coming.  I receive it and will make the changes she suggested. 

Suggestions
Find the best free checking account with the banks I am affilliated with
Get one checking account for real estate and see if I can get a credit card
Get an LLC
It may be cheaper to put all properties under one insurance company
Get title insurance for properties that are being owner financed

She gave me her number to call.  Not going to be overbearing, so excited about what I learned!

The other day when I posted, I was not in a good place.  I was uptight and nervous about my financial obligations and decisions.  In my mind, I have sorted out what are the best options for me at this time.  For instance, I have Ike coming to redo the entire house on Fisk.  There is a for rent sign up in the front.  I went over there yesterday and sprayed while Wilfred put the deadbolt on the door.  That is something I need to do daily, spray until the house is clean of roaches.  Overall, the house isn't messed up.  She smoked so it has to be painted, the tile in the bathroom needs cleaning or replaced, the is a running spot on the carpet, and just cleaned to make it liveable.  This should be done by the end of August.

My house on Colorado, I gave him an option of allowing me to pay him a monthly payment since he was losing money on the house and take it off of the asking price.  He said he would have to think about it and probably redo the contract.  In my mind, why redo the contract when we just change these things later.  Then I had time to think with a clear mind and decided that that wasn't a good choice.  The reason being is that there are many things that need to be repaired on the house on his end.  I am purchasing the home owner finance and he hasn't checked my credit score or anything and my monthly payments will only be $500 a month.  Plus, the property in the back rent will come to me.  Then the house under the hill once I get that up and running that money will come to me as well.  Back to what I was saying, I am not living in the home.  My stuff is there and I am moving things around, putting stuff up, finding out what works and doesn't.  The reason I changed my mind is that many things that he said worked doesn't.  I don't want to close on a house that isn't totally functioning the way is should.  Be it that he doesn't live in the city, he hasn't had time to fix the things he said he would fix.  With me plugging things up, I found out that the dryer electrical plug doesn't work.  I had the cable installed and where the line is coming in that electrical doesn't work.  The front door lock needs to be changed and overall all the outlets need to be working before we actually close.  I am aware of the things on my end that need to be repaired.  Another thing, the hot water heater doesn't work, it is missing a key component.  I scheduled an appointment for the gas to be turned on, but it couldn't because something is missing from the unit. 
Tomorrow, there are many things that I need to do to make things better.  Thanks to the advice that was given.  Really needed and appreciated!  Changes are coming and they are for the better.  I will take my time to get things done and not beat myself up for the mistakes I have made in the past.  It is gone now and I will do better with what I have. 

These are videos of the houses.  Like I stated, they need work and I will make it happen. 

As I stated, I was in a bad place the other day, but now things are better.  My mind is clearer and there is focus on doing bigger and better things.  I can and will be successful!

Thursday, August 18, 2011

Continue to Make the Same Mistakes, but Keep Moving Forward

For the past few days I have been in a kind of odd place.  My emotions are under control, but I can't seem to focus on the things that are important.  I have made many changes and paid off many of the debts I owe.  There is another issue at hand.  Many of the habits that I had have ceased and that is a wonderful thing.  Don't really like talking on the phone anymore.  I would rather text or send a message on Facebook or Twitter.  Overall, I guess, I have downsized my surroundings. 

I moved into the new house, but I am not living there.  There are some things that need to be fixed before I can actually live there.  Well, to be honest, we haven't closed and I don't want to be living there without having completed our contractual agreement.  As I stated in a previous post, I finally realize that I have money so that means that I go to the ATM and withdraw money for no reason. 

On a good note, these are the good things that I have done
Paid off all utilities from Parkchester
Paid for speeding ticket
Paid car note for Marybelle
Bought paint for my new residence
Got front of Fisk organized

Things that I need to do
Get new house fixed to move in
Get Fisk straight for someone to move in
Get heater taken out of Oneal Street
Squirrels in house on Parkchester, get hole fixed
Save $5,000 so that I can close
Pay rent for Fisk and Parkchester
Get tenant for Parkchester

Frustration was my friend the yesterday, I felt like I have taken on to much.  Like everything in my life I am my worst enemy.  Had the money spent the money or wasted it.  No need to worry, because tomorrows coming regardless.  This moment will pass and everything is going to work itself out. 

These are just my thoughts and me venting.  On my journey to owning 10 houses before I'm forty.  There are many good things that I have accomplished, but there has to be more and it will.

Monday, August 1, 2011

I'm Moving On UP

Things are looking up for me at the moment.  Life is great and I am finally making progress toward the things that I want to do.  I am so proud of myself and I have been smiling now for the last couple of days.  Who would have thought?  To be honest, this entire summer has been filled with many mixed emotions.  Crying, not working on my PhD, eating, and doing other things in excess.  I forgot to remember that all things need to be done in moderation.  To account for the excess, I have a cold nodule growing on my thyroid.  I have an appointment tomorrow to find out if or when I will have surgery to have it removed.  One way or another, it has to be removed.  There is no worry in my pertaining to this situation.  All things happen for a reason and I do believe this is the outcome of all the worrying I have been doing over these past two months. 

In the process of purchasing the three houses for $48,000 with $5,000 down owner financing.  The main house I will be living in that.  Never have I lived in a house that I have owned.  This is a big step for mankind!  The house in the back is already rented out.  With my other home and the one in the back, I will not have to pay my own mortgage.  So very excited, really not trying to pay a mortgage out of my own pocket since I haven't paid one since 2000.  That wasn't a mortgage, that was my rent. 

Once this purchase is complete, I will have a total of 5 homes not to include the one I manage for my mom.  There is a for rent sign out here now, I do think I have someone to move in for $450 a month.  The move in cost will be $900.  I can use this money to pay my mortgages, fix up the houses, or use toward my $5,000 deposit.  Trying to decide which of these is a better option.

On the downside of things.  I made a big purchase last month.  I bought the Mini Cooper, the car of my dreams.  Why?  Because I was bored and felt like many things were missing from my life.  I know that financial purchases don't satisfy that emotions, but it felt good to step out and do something that I wanted to do.  Now, I am feeling it.  I ran into a few financial issues. 

Speeding Ticket
Tag for Marybelle
Marybelle's car note (mini cooper)
Power bill
water bill
ADT
First Premier
TMobile
Closing on the houses

Did I mention the bills from the other house?  Now the only other thing to do is organize my next steps.  Haven't worked on anything pertaining to my PhD and time keeps on moving. 

Next steps

Prepare to move
Pay the bills

I am working toward being a better person and achieving all of my goals. 

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