This week should be a good one. I'm working overtime at the bank job with Sandra gone for the week. If Carver holds up his end of the payment agreement, I should have over $4500 in my account at the end of this month. Also, rents come in this week and I can start focusing on the $7000 quota for September.
As far as research goes, I'm dedicating this week to researching short sales and foreclosures. I'm looking for as many different ways to buy properties next year as possible so that I have multiple options when the time comes. This option will allow me to buy an undervalued property with cash for 30k or so, then another $5,000 to $10,000 to fix it up and get it rental ready. From what I can gather so far, short sales are a safer bet and more beneficial than foreclosures for the lender, the buyer, and the property owner. I'll write more as I learn more.
As far as repairing costs go, property Chi might need a plumber for the upstairs unit. The bathtub drains very slowly, and I've tried liquid drain cleaner and snakes (which don't fit for some reason). I want to be there to see how the plumber fixes this, so I'll try to schedule something for the afternoon. If I can't, I'll ask the tenants to look at what he does and let me know. Other than that, it looks like a relatively easy week for me.
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