Monday, September 18, 2006

A Little Of This, A Little Of That

Not too much has been going on with me and real estate lately. I've made the decision to invest some money in my own house - finally. We've been living there for three years now and still have temporary paper blinds on some windows! So we're in the process of getting in-ceiling speakers installed (the house is pre-wired for surround sound and the cables are sticking out of the ceiling on big nails), having an entertainment center built, and a new fireplace mantle installed. Much of this won't happen until after the first of the year, but we have to set things in motion now. The good news is that we no longer have a car payment (got that paid off last month), so the money that was going towards that will be put towards these improvements and / or savings. I'm also still getting passive cashflow from my commercial investment and I got word on Friday that this month's payment has been mailed. I'm also due for two payments this month from some other foreclosure investment LLCs I'm in, so September is looking good from a cashflow perspective. And, of course, I'm still putting 15% of our paychecks in savings for future investment opportunities.

I got word from my investors that they'd like to talk with me before I start working on another property. They have no problems with my performance, but I think they are a bit worried about the housing market and don't want to get caught in a collapse. It's probably just a case of getting worked up from the doom and gloom media reports that you see almost daily about the collapse of the housing market. As I've always said, as long as you buy correctly, you should be safe. Hopefully, I'll talk with them in a week or two.

I'm still getting calls occasionally from people who want to sell their house. Since I haven't met with my investors yet, I can't help them, so I've been referring them to another investor I know. I got an email from him the other day saying thanks for the referrals and if any of them work out, he'd pay me a referral fee. That's nice, especially since I didn't ask for one!

I also ordered my free annual credit report from Equifax to make sure there were no errors. I was pleasantly surprised to find there were none! I think this is the first time I have gotten a credit report with no errors! Of course, Equifax had some errors in the past that I had to have them correct, but at least those corrections were made and no new ones were introduced. Still waiting to receive my wife's credit report. Hopefully, it will be as error free as mine.

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