Time for an update
As you’ve no doubt already noticed, I haven’t written many entries. Who can say when this will change, but I will return. I intend renewing my account with Squarespace, as well as keeping this domain registered.
I have been working towards my goals steadily since last I posted. I read my old posts after 2 - years. This gives me a better context of learning to base my decision to keep or remove entries. I will refine this blog at some point in the future,…..later. Point I’m making badly is that I have no idea what I originally wrote 1 - year ago, because it hasn’t yet been 2 - years yet. If something were so critical that I had to reference last years writing, I have the copy to thumb through, because it’s probably already on my mind. More likely I will repeat it again in a later post like it’s a fresh idea. I accept my faults and limitations, and you should too.
I have stalled all spending on my planned remodel conversion of a 4 bedroom home into a 4 unit building. It does not provide the quick cash needed to support its own expansion. The costs are currently prohibitive in light of current financing requirements from most lenders. I can’t currently access enough borrowed cash to finance a large enough project to solve for even one of my rental units. The first stage of renovation is going to have to cost $60,000, or more in today’s dollars, I emphasize costs don’t rise predictably. So in 2 years it might even be $80,000.
ok, I’ll be able to get $80,000 from the bank in 2 years, and I can afford to wait. Meantime I can employ the cash I’m saving now to purchase a rental with a friend of mine, in early 2022. And that’s where I am currently, in terms of investment.
Otherwise Iv’e been paying off all remaining personal debt, and I have about $12,800 remaining. But I also have savings to balance against this. I’m mostly riding out some low interest debt, and focusing on paying off high interest debt first. I have about 2k at 6.5% to payoff over the next 2 months. 0% for 2 more months. Then 4K all at once at the end of May. But then I’m done with personal debt forever.
So that leaves a mortgage with 216K to payoff and worth an estimated 390K, currently. Should be worth approximately 450k In 2 years I’m projecting. I’m entitled to an opinion and I’m entitled to be wrong also. In 2 years when I see what assumptions were made, I will know the right of it. Until then I follow my instincts and hope I’m more right then wrong.
And this at last leads us to my current plan. To save up 20K this year to purchase a rental with a work friend. I can’t say anything else about it until it does or does not materialize. Until then I leave you with this tantalizing nugget of information.
But wait there’s more…I’ve had an entire hour In my car to write this, so I’m not done yet. My art has been progressing nicely, ti the degree that I now have to use lower resolution pictures with watermark to avoid ruining future sales. I’m not quite that good yet, but I will get there. So I have to start being more serious and adult about protecting the value of my intellectual property. It feels weird calling something I’ve written property, but there it is. I still want to share new photos and I will. And I hope you enjoy them more than ever. I have to clock In to my 9-5 job now, so have a pleasant day.