shereadyllc

SheReadyLLC

Selling and Buying at the same time!

I purchased my current home in 2017 using my VA loan benefit. It was a smooth and happy experience.

Fast forward to 2023, my life has drastically changed and it’s time to MOVE. In preparing for this move, I have done 2 main things.

  • I decluttered.
    • I threw away, sold and gave stuff away that was no longer useful to me or taking up space.
  • I set a goal to have a specific amount of money that I’m going to need.
    • This money is to be used for moving costs, purchasing new furniture, and any small updates like paint, flooring and gadgets (nest thermostat, ring doorbell, and alarm system)

On April 5th I met with a realtor that I decided to work with based upon his knowledge of the area (he lives down the street) and I looked at his closing stats. Out of all the realtors who have listings, the properties listed with him seem to not stay in the market longer than a month. He was also the previous seller agent for my current house.

Juggling A Lot

We discussed a lot of things. Here is a list of the things we discussed:

  • What updates and upgrades have I done?
  • What contingencies do I have?
    • Closing cannot be done quickly as I need to look for a home out of state.
    • I also mentioned renting back to the seller as an option.
  • We discussed the steps to getting HOA approval to put a sign in the yard.
  • I’ll be leaving some furniture in the house that I’m not taking with me .
  • We talked about having a photographer taking pics and drone footage.
  • We talked about listing the home as Coming Soon prior to it being Active and ready for showings.

We discussed a few more things, but you get the idea of what goes on besides just talking about the price.

The house was listed on April 7th and after what felt like a never ending time frame of showings, I received an offer on April 30th.

SheReadyLLC

No Rent For 3 Months

For the first time, I experienced one of the things that most landlords dread.

A tenant did not submit a rent payment!

It’s dreaded because some landlords have a mortgage and may not have enough reserve funds to cover bills like insurance or property taxes without receiving the monthly payment.

Yes, I have a tenant who is using the Housing Choice Voucher Program (HCHV) and I didn’t receive payment for 3 months. Yes, from July through September, I didn’t receive rent money. My first thought was to panic, but I know I have a great property manager and a responsible tenant so the panic didn’t last long.

The tenant did what she was supposed to do in a timely manner.  I called myself and spoke to several employees at the HUD office responsible for the area.  During my calls, I found out they were experiencing a lot of turn over and my tenant’s case worker changed about 3 times before the issue got resolved which is what caused the tenant to be behind in rent.

When it was all said and done, I received back pay and I’m glad I didn’t go through the process to evict the tenant because it wasn’t the tenant’s fault. I’m also glad that I had a reserve fund to cover cost when things like this happen.

Bottom line, just because you have rental properties that are cash flowing doesn’t mean that you won’t experience difficult times and you must prepare for them.

SheReadyLLC

The Neighbor Paid For Damage To My Porch

A couple of months ago, I wrote a blog post about receiving a message from my Property Manager.  The neighbor’s dog had come upon my porch and tore up the carpet. 

That was in August, it’s now October and my Property Manager sent me a text of what the porch looks like now.

It is decorated beautifully for the fall weather. It looks like a porch you would see on HGTV. It has a dark brown carpet now. The tenant decorated a couple of end tables with orange and white pumpkins on them. She also has a scarecrow and fall welcome signs.

It’s all so tasteful and I couldn’t be more pleased to have someone taking care of my property. It has a special place in my heart since it was the first home my mom bought and paid off. As long as I own it, it will always remain part of our family.

If you read the first part of this story, check out the blog post.

Look What The Neighbor’s Dog Did To My #Property

If you find my blog interesting, please consider following my journey. I greatly appreciate it.

SheReadyLLC

Ending The 2022 MS Tax Lien Auction On A High Note

For the past 2 years, I had 2 goals when it comes to winning tax lien auction bids.

  • Win at least 3 bids per year
  • Don’t lose money

Starting this year, those goals have changed.

  • I am now 2Xing my winning bids. This means instead of winning 3, I’m winning 6 bids per year.
    • The long term goal is to try to get one tax lien redeemed check in the mail every month.
  • Don’t lose money.
    • By this I mean, I will be sticking with my plan to not bid more than a specific percentage of dollar amount so that I set the company up to make money.

During my research, this year, I put a lot of focus on properties where the owners didn’t live in the county or state.

I WON 6 BIDS THIS YEAR!

The properties include land in an existing developed sub-division and single family homes. I stayed within the range of not bidding more than 15% and I hope it pays off.