Saying Goodbye to July

So... July 29th. Two more days until this godforsaken month is over. Between having to start over from scratch, my dreams of acquiring another property by the end of this year ripped to shreds, and wasting almost 9k on property Chi and credit improvement, I am very eager to put this month behind me. July, of course, decided to give me one more kick in the ass before it left.

I got a letter from Bank of America (BofA) last night, telling me that my application for a secured credit card was denied. I couldn't believe it. What kind of loser am I to be denied for a card specifically designed to help those building credit?? I was more angry at the fact that Empower, a bank that has never heard of me, approved me for a secured card while BofA, a bank that I had a credit card AND currently holds property Alpha's mortgage, denied me. Being denied for a secured credit card is about as low as you can go in the credit world. It's a bank saying that they don't even trust you with YOUR  OWN  MONEY!

I went to BofA this morning and told them I wanted to close all the new accounts I opened last week. When the manager asked why, I remember planning out every insult that I was going to say last night. But, when she asked the question, I no longer felt like going on a tirade. My ego wouldn't allow it and the action felt beneath me. So I told her that my only reason for opening an account with BofA was that it's required in order to apply for a secured credit card. But that wasn't enough for her. She continued to try and get me to stay and, in the end, I sat there silent and non-responsive. When she asked me whether there was any way I would consider re-applying in four weeks, I had to tell her in a calm voice: "No. Give me my fucking money." She got up, got me my money, and closed all three bank accounts. Tomorrow morning, I'll apply for the Orchard Bank Card from HSBC.

BofA did give me some good news. I had a meeting with their mortgage advisor, Andy Merks, where I explained in detail my plan for the next 12 months. Andy said that my plan works perfectly. He even gave me some suggestions, including buying my third property in May or June, then buying the fourth in October or November. By buying them separately, I increase my chances for approval any eliminate quite a few variables that would have come up if I bought them together. He went into detail about many things that will help me in the future. It was a great meeting, and I'm glad I spoke with Andy before I closed my accounts with Bank of America.

So I'm all set. With my goal of 2k in my account and the stamp of approval from Andy Merks, I'm ready for August. My goal is to have at least $4,500 in my account by the end of August. That will set me up for $7,500 in September, then 10k by the end of October. I go into the month of August as a more aware and smarter businessman. Goodbye July, and thanks.