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Monday, May 18, 2009

Everything Stinks

Man time goes by fast. The World is crazy these days; swine flu, high unemployment, a democrat President that spends money on every thing under the sun. Strange times to be alive that is for sure!
I have Oak Meadows in escrow and we are supposed to close on Wednesday. The buyer’s agent emails me and asks for an extension. Not good. We have already given him 1 extension and now he wants another 2 weeks. I think he is going to have to start paying per diem. My partner and I have $100,000 of private money in that deal plus $100K+ of our own. I don’t like being in this situation and can’t believe I am back here again. Now I have to minimum pay my dang credit card so I have money to pay my mortgage and bills. I hate doing that because I don’t like to pay interest.

My Wallace court property had some serious issues. The septic system failed and sewage started flowing down the street. The city has pulled my water meter because of the mouthy gangster tenants. Now they won’t have water until Wednesday (about 2 days). I could probably get it turned back on if I call which I will do later today. I have a company hooking me up to the public sewage system. The total cost will come in somewhere around $8,000. The permits are about $3,500 and I got a check in the mail today from the state for $3,200 (tax refund). Looks like the state is covering the cost to connect to the system! I have a few other deals going, but nothing amazing. I have a house in Anaheim that I hope to get under contract. Needs about $40K in work and the owner owes about $180K. It should sell somewhere in the range of $300-$320K.

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