Staying on Track

This week is going to suck. I have to get used to the fact that I will not be reaching my 10k goal. I’ll save as much money as I can regardless, as I’ll have to make up the deficit in November when I go for 12k.

Besides saving money, I also have to get back on track with Lexington Law Firm. They asked me to send them responses from the credit unions and companies, but they’ve been piling up on my desk at home. Converting them to PDF file format is a pain in the ass with the scanner I have, but I need to get that done today. Lexington Law Firm is only as good as the work I put into helping them get rid of my bad credit. Obtaining a credit score of at least 700 by the end of this year is my goal. The higher the credit score, the easier it will be to purchase a property and get a good interest rate.

The upstairs tenant of property Chi, Gary, had his court date moved so I’ll have to keep track of him. I told him to call once he heard anything, but I don’t trust him. I have everything ready to go as far as renting the apartment out: advertisements, appointment schedules, and cleaning products. I just need to know whether I’ll need them or if he can beat the felony and get a misdemeanor. I’ll probably have to take care of property Beta’s window next month. Stan’s schedule is difficult to work with, so I told him to give me a call when he figures out a time for me to come over and measure the window for replacement. I like to leave it up to the tenant to take the initiative and get the ball rolling on a repair. If it were really that important, he’d do the measurement himself or have someone there to let me in (in my leases, repairs can’t be done unless a tenant or relative of the tenant is in the apartment). I can tell that it’s not a big deal to him, so I’m in no rush to spend my money.

I’m also reading another book on commercial real estate. The REIG meeting showed me that my two biggest issues next year will be property acquisition and management, which is what the third phase is all about. Supposedly, managing commercial real estate is a little different than residential. It would be nice to get as much information as possible so that I can decrease the learning curve when I’m actually managing it. Phase 3 is two and a half months away. Staying on track now will make it all the more easier when Phase 3 begins.