Kicking it up a notch! (47.02%. 3.86m)
May 2, 2012 the moment I got frustrated enough with carrying a huge debt load that I made a critical decision....
ITS TIME TO SELL!
My taxes came due ,you see, and while I had done so well to manage and plan ahead and not take on new debt, somehow I over looked/chose not to see the freight train of a bill I was about to receive. Faced with losing all the gains in my debt fight thus far it was time to do something drastic. It was time to sell my home.
I tried not to. I really didn't want to. I liked my little pad and have spent the past 6 years that I owned it refinishing it completely to be exactly as I liked it and it was finally to a point that it felt finished. And so I avoided it, tried to refinance and get rid of my consumer debt and tax bill by sliding it into my mortgage. DIDNT WORK. Turns out there's a rule against using your house to pay your taxes. GRRRR! It was possible to work around it but I just didn't have any peace about it and so I listed my place. I listed it half thinking that it would never sell for what I wanted for it, wrong again 36 hours later it was a done deal and I was set to be homeless. Debt free but homeless. lol
Decision time buy/rent/travel.
What do I do? The next week or so was nerve racking as I waited for my sale to firm up and make a decision as to what my next move would be. Prayer prayer prayer, I am so thankful to have a Father in Heaven that I can look to for guidance because this was beyond my comfort zone and the decisions made would have huge impacts. But I trust His plan and know that it is good. So after a week of prayer and a failed opportunity I feel like God opened a door for me.
So I bought a new place.
It was in pretty rough shape, but the location and price just could not be beat. I got a quick possession and so I've spent the last week or so fixing, painting, and demoing getting it into shape as much as possible before I move in. I swore I would never live in a reno again, but I am running low on time so that got tossed out the window and I moved mostly in yesterday. Last night was my first night there and it already feels like home. It really is growing on me now that its clean and painted (ok somewhat painted).
I still have a lot of decisions to make. I want to use the basement as a suite but its already looking like it could be a lot more costly than originally planned. But the added income would be totally welcomed. At first I also thought that I would have more than enough to pay every last one of my debts but as I get closer to the end I am realizing that there were some miscalculations along the way, so now while I could repay everything, I would have almost no reserve fund in the end and with the ups and downs of real estate I am not sure of the wisdom in that. So please pray for wisdom and for my business (a couple good sales and this problem solves itself)
What I do know is that I have a great new place. My credit cards are ALL paid off. My taxes are going to be paid this week. I am headed on mission next month. And life is good!
Thanks for listening. Hope life is going super well for you too!
David
ITS TIME TO SELL!
My taxes came due ,you see, and while I had done so well to manage and plan ahead and not take on new debt, somehow I over looked/chose not to see the freight train of a bill I was about to receive. Faced with losing all the gains in my debt fight thus far it was time to do something drastic. It was time to sell my home.
I tried not to. I really didn't want to. I liked my little pad and have spent the past 6 years that I owned it refinishing it completely to be exactly as I liked it and it was finally to a point that it felt finished. And so I avoided it, tried to refinance and get rid of my consumer debt and tax bill by sliding it into my mortgage. DIDNT WORK. Turns out there's a rule against using your house to pay your taxes. GRRRR! It was possible to work around it but I just didn't have any peace about it and so I listed my place. I listed it half thinking that it would never sell for what I wanted for it, wrong again 36 hours later it was a done deal and I was set to be homeless. Debt free but homeless. lol
Decision time buy/rent/travel.
What do I do? The next week or so was nerve racking as I waited for my sale to firm up and make a decision as to what my next move would be. Prayer prayer prayer, I am so thankful to have a Father in Heaven that I can look to for guidance because this was beyond my comfort zone and the decisions made would have huge impacts. But I trust His plan and know that it is good. So after a week of prayer and a failed opportunity I feel like God opened a door for me.
So I bought a new place.
It was in pretty rough shape, but the location and price just could not be beat. I got a quick possession and so I've spent the last week or so fixing, painting, and demoing getting it into shape as much as possible before I move in. I swore I would never live in a reno again, but I am running low on time so that got tossed out the window and I moved mostly in yesterday. Last night was my first night there and it already feels like home. It really is growing on me now that its clean and painted (ok somewhat painted).
I still have a lot of decisions to make. I want to use the basement as a suite but its already looking like it could be a lot more costly than originally planned. But the added income would be totally welcomed. At first I also thought that I would have more than enough to pay every last one of my debts but as I get closer to the end I am realizing that there were some miscalculations along the way, so now while I could repay everything, I would have almost no reserve fund in the end and with the ups and downs of real estate I am not sure of the wisdom in that. So please pray for wisdom and for my business (a couple good sales and this problem solves itself)
What I do know is that I have a great new place. My credit cards are ALL paid off. My taxes are going to be paid this week. I am headed on mission next month. And life is good!
Thanks for listening. Hope life is going super well for you too!
David
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