Wednesday, November 2nd, 2022
It’s November 2nd and there's finally a definitive chill in the air…AMEN! Fall has always been one of my favorite times of the year, a time of transition marked by cool evenings and warm scents of the holidays. As I’m writing this, my Aera diffuser is filling the room with smells of Pumpkin Spice, and I can’t help but smile 😊.
Speaking of times of transition, I’ve got some new opportunities on my plate that excite me. They excite me because I’m witnessing first-hand how this REI venture takes a path of its own as one evolves in the industry, and I like where it’s heading for me.
I’ve officially partnered with my attorney on a flip property in Chicago that closed last week, construction starts this weekend! Furthermore, I’ve partnered with a Chicago-based WREIN sister on another flip property in an equity position as her lender. The best part about these opportunities is that they naturally fell into place due to the relationships I’ve built over the last several months. I feel like I’m finally out of the rat race and have found a bit of my own place in this new space. It’s these types of experiences that have me on Cloud 9. This is a transition worth celebrating.
Of course, these Cloud 9 moments don’t come without some really hard moments. Hard moments not only in relation to the uniqueness of these particular deals, but the other projects I’m currently managing. My two rental properties, which are currently in the renovation phase, have truly put me to the test, EVERY single day.
The property in Harvey is but 2 weeks away from being refinanced, and the final inspections and repairs are HAUNTING me nightly. Between the Point of Sale inspection, Rental Permit inspection and Appraisal inspection, I’m one tight ball of stress! It’s truly the appraisal that hangs its heaviest weight, as it ultimately determines my cash position in the property. A $10,000 difference in value equates to $7,500 in or out of my pocket. That’s a good chuck of change that plays a pretty big factor in my next steps as an investor.
Down the road, the apartment building in Calumet City has set forth its own set of issues. While I’ve successfully remodeled the vacant unit and placed a new tenant, the 4 tenants who have decided not to pay since my acquisition of the building has been irritating…cash flow negative, BLERG. Moreover, upon my contractor being given the stiff arm by the City, I learned that I had a very expensive laundry list of exterior repairs that needed to be completed before a building permit to remodel the basement would even be entertained. Woof! I feel like a dump truck just pulled up to the building and tossed my entire renovation budget down the equity drain…UGG!
All this shit really gets me bothered. It’s these events these past few weeks that have truly clouded Cloud 9. It’s in these darkest moments when I tune up my analytical and financial savvy and tell myself, “Just sell the properties and break even, get the *uck out of this mess!”
But then I take a breath and realize that this is the journey. In Melissa Horvath’s devotional “You Got This,” I was reminded today that God Provides: “Enjoy the flips and turns, the ups and downs where you are now. Enjoy the moment rather than wishing it away…Have faith!”
Yet again, her message was very poignant today in relation to what I’ve got going on in my work life. I continue to let my anxiety get the best of me; yet, what lies ahead in these two partnerships (and a few other opportunities that I’ve yet to share with you all) have me thrilled about my future!
So on this day, I’m reminding you to “believe in yourself and in Him!” He’s Got You 😊.
☕ Cheers ☕
