It's almost do or die time...Deep breath

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
It's almost do or die time...Deep breath
8
Mon, 06-09-2003 - 2:06pm
OK...this is really rather frightening to me but I just got my July mortgage statement which I have saved back and once it is paid, my *safety net* of being able to hoard the money until the next month's is due is gone. Maybe I can get it back before August is due. It was comforting to know I at least had mortgage. Now all I feel panic that we don't have August's mortgage!

I know if DH closes a house before August 1, we will be fine and we still have a few more checks of unemployment but I'm not 100% sure that will pay mortgage, utilities, etc...

Aack!!! Just wanted to freak out where others can understand the panic feeling. I'm going on faith that it WILL work out and somehow we will magically have August mortgage but I tell you it's hard to do that without it being a scary feeling. (I think I would feel about 100 times better if I knew what the average time was for starting out Agents to make their first sale...is it 3-months? 6-months? Is expecting just 1 sale by end of July too ambitious? LOL!! Know what I mean. :) It's completely unknown waters and I like to have average timeframes, etc... Hee Hee).

Becky

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Registered: 07-26-1999
Mon, 06-09-2003 - 2:57pm
I just wanted to send hugs your way. I can't answer your questions because there are too many variables--if the market is hot in your area, then I'd say there's a chance he could close a house or two by the end of July.

I sympathize with the panic--my savings account is well under $1000 and i just charged my car insurance, my silent auction items, and I am taking my remaining four budgies to the vet on Wed. And I don't have work this week...I'm just trying to keep the panic at bay; I hope everything works out for you!

Avatar for joieprice
iVillage Member
Registered: 03-26-2003
Mon, 06-09-2003 - 4:00pm
I've sent a lot of silent prayers your way. I was pregnant with our second son the last time our finances blew up and I know how trying it can be. I know that you are very hopeful about your dh's new job and I don't want to take that away but I will tell you what I know. I have several friends who have gone into Real Estate. Three that got their license in the last year and one who has been licensed for about three years.

First off, I live in the Los Angeles area and the market is HOT. Little 900 sq ft houses in the area I work in are going for 300k minimum. The first three got their licenses for very different reasons. My boss left a construction business he had been in for 20 years to go into Real Estate. He had quite a lot of cash on hand, plenty of connections (his mother is a real estate broker, he has lived in the area all of his life and his contracting business worked in conjunction with agents quite a bit over the years). It took him about six weeks to make his first sale and he has been on a roll ever since. The last time I talked to him about it he had about 3 million in escrow. I am friends with his wife and one comment she had made was that she has barely seen him in the last year. My best friend got her license because she had been in property management for about 10 years and she knew it could help further her career. Selling houses was never the point so she is quite happy. The receptionist at my office also took and passed the test. She wanted to be able to make some quick cash. Long story but she figured if she got her kids back, the hours would work for her. She has done nothing with it and thus far, hasn't even been able to get work in a real estate office.

My last example got her license about 3 years ago. She worked her a@@ off, didn't have a lot of start up capital and she is just in the last six months beginning to make some real money.

So the wrap up is this, from my experience, yes there is money to be made in real estate. Once you get established the money is really, really good. But getting established is HARD, time consuming and it often takes a lot of up front cash. I honestly hope that your husband does really well. You both deserve it. If I were you though I would prepare for the worst. If it doesn't seem to be breaking, he might be able to find a job in a corporate property management environment even if its just temporary.

Joie

Joie

"We are what we think.  All that we are arises with our thoughts.  With our thoughts we make the world."

Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Tue, 06-10-2003 - 11:03am
Just wanted to say Thank you to you both and I can always continue to use some prayers/good thoughts because I *know* we aren't out of the woods yet. :)

I'm not niave enough to think it will all be a bed of roses now. I know we have a LONG haul for DH to get clients, etc... (wish his business cards would arrive! I feel without those it's nearly impossible to even get contacts! Although we of course have been telling everyone we know he's legal now! LOL!). I was reading his training manual and it was very enlightening (OK, so I'm nosey and couldn't stand it. He was laughing saying he was wondering how long it would be before I was checking out the notes!). ROFLMBO!!! My head was spinning though after reading a lot of it but I learned some interesting information though and am really glad it's not ME doing it. Hee Hee.

Becky

iVillage Member
Registered: 04-04-2003
Tue, 06-10-2003 - 2:35pm
HI Becky, I had an idea and I know this might not help out alot. But, what if you had a garage sale? If you are a pack rat and have lots of things to get rid..LOL Also try calling your bank that you pay your mortgage too. Sometimes they will work with you or they might offer programs that lets you skip a month. Thats what we do every christmas on our car. I forgot what its called but, because we make timely payments with our car payments they let us skip a monthly payment once a yr..so we do it in december. Just another idea. Hope this helps. Hugs TrishAnn
iVillage Member
Registered: 05-30-2003
Tue, 06-10-2003 - 2:55pm
No, Becky, I did *NOT* put her up to this suggestion, ROLFMBO!!! Ohhh, too funny. Now poor Trishann is saying, "What? I think it's a good idea! Why is it so funny?!?!" See, lots of us do the "FLYLady thing" (as my family calls it), and Becky has steadfastly refused to FLY too. (Which is quite alright-I do understand that FLYLady's system is not for everyone)

Part of FLYlady's big thing is to get rid of the clutter/unused/unwanted items in your home, because then you don't have to spend whole gobs of time cleaning. So, there you go, Becky-a good chuckle for the day... :D

Anyway-hang in there, Becky-we're wishing you the best. You've come this far-keep having faith it will all be good in the end.

~Lisa

Avatar for beckymk
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Registered: 03-23-1998
Tue, 06-10-2003 - 3:42pm
ROFLMBO!!! Actually I *would* consider a garage sale except 90% of the stuff is baby stuff and I need it still. ROFLMBO!!

Of course, it's not *my* fault that DH offered to take a roll-top desk from some others we know that are out of work and getting rid of furniture. Along with me accepting a blow up family sized pool. ROFLMBO (can you say "more junk"...actually I was going to say No for the desk but DH wanted it).

A garage sale IS a good idea though. Just without putting the baby stuff out there, I don't think we have enough stuff to sell to make it worthwhile. Have to think about it.

(Might mean to Umm..chock, chock, gasp, wheeze...cleaning & decluttering!!!) ;)

Becky

Becky - Mom to Carolyn (17), Aaron (15), Kyle (11) & Luke (8)
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Avatar for mrslove2000
iVillage Member
Registered: 03-26-2003
Tue, 06-10-2003 - 6:59pm
Becky,

I can totally empathize with your situation. Last October, while I was out of town, my DH quit his job to become a mortgage loan officer. Mind you I knew he was *thinking* of a career change, however it still took me by surprise. Anyways, since his job is tied into the "real estate" market, his paychecks flucuate with *hot & *cold times. He started in the Beginning of November, closed his first loan in February, nothing in March then 2 in April and 3 the first of May. So far, nada, zero, zilch. He is *expecting* to close the 25th of june and wants me to *borrow* from the tax account (which I refuse to do) to get by until he gets paid. I am the type of person that doesn't count my chickens until I see them pecking at the ground. LOL So, the only thing I can offer is advice to have patience (and lots of it) these types of careers aren't for everyone. If you can roll with the flow it will make it much easier. I can't count the times my co-workers have said "I don't know how you put up with it. I'd be going balistic, telling my DH to go work somewhere else". I just reply "I have faith in him and his abilities and if it doesn't work out, he will get another job. In the mean time, I am here to support him in his efforts".

{{{HUGS}}}}

Susan

P.S. We're in central Texas area and the market is pretty flat. He is staying busy by refinancing exsisting mortgages.

P.S.S. I joined FLYLADY about a month and a half ago; and it isn't easy however it has kept me busy instead of worrying about money and bills. haha (Lisa, I just had to give my *shameless* plug for FLYLADY hehe)

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Avatar for cl_beckymk
iVillage Member
Registered: 03-19-2003
Tue, 06-10-2003 - 9:34pm
Aack!! It's the conspiracy of the FLYbabies!! ROFLMBO!!! (And I have my shoes off!!) ;)

I hear you on the "chickens pecking on the ground" LOL!! Which is why I'm nervous but right now our market is Hot...but of course that can change on a dime and well...who knows but since my DH *did* apply for a tons of other jobs and no go, I will have to live with the flow ;) and the fact that doors were opening to go into this field and no where else makes me think that in the long run this was the right thing for him to do (Remind me of this when he is having a slow period and I'm freaking out, LOL!!!!!). All he can do is the best he can.

Becky