Good & Bad Luck all in 1 day

iVillage Member
Registered: 11-24-1997
Good & Bad Luck all in 1 day
2
Thu, 09-12-2013 - 7:19am

Let's start with the bad luck 1st.  Monday driving home from my real estate office, I take a main road where the speed limit is 40 mph as opposed to 30 mph everywhere else.   FYI on this road, most people drive 50 or 50+.  Well, stupid me forgot Monday was the 1st day of school & driving past the school, I suddenly see blue & red flashing lights behind me.  Oh geez, I have a brand new car, I'm unemployed, my husband is going to say something I don't want to hear, I'm in t-r-o-u-b-l-e.  Apparently the cop recorded me at 41 in a 20 mph school zone.  So now I have to go to court.  There goes my insurance, possible points on my license, etc.  I know I'm married to a teacher & Monday, David left at 7:00 to go to school.  By the way, I used to work at that school as a teacher's aide yrs. ago when my son was in elementary school. (the one the idiot cop stopped me at).

Next, about my new set of wheels.  On Labor Day, I traded in my 9 yr. old Toyota Camry for a 2012 Toyota Prius.  It's brand new with 50 miles on it.  I got it for $20,000. + the dealer gave me $3,000. for my Camry.  The Camry had 73,000. miles + it needed body work & there were stains on the seats.  I negotiated hard - drove the manager crazy trying to lower the price.  Anyway, here's how the financing worked.  I had a 401K from my previous job (Staples) with $26,000.  After I got laid off, I did a rollover IRA.  I can't touch the money until Jan. 2014 when I turn 59 1/2.  Since I worked in retail for years, I know the only time you buy expensive stuff is when it's on clearance or being cleared out.  So car manufacturers put all their 2013 cars on clearance in Aug. & Sept. to make way for 2014 cars.  So on Labor Day, I decided to take advantage of a great deal.  I wanted the 2013 Prius, but they said my price was too low & no deal.  So I had to take a bare bones 2012 Prius.  Couldn't afford any of the bells and whistles.  Anyway, my credit is excellent, so I put down what I expected to collect in real estate commissions my 1st yr.  I am withdrawing the $26,000. IRA in Jan. 2014 to pay off the car loan.  Yes, it's currently being financed & my dear hubby is paying the monthly payments for Oct. Nov. & Dec. which is why I don't want to tell him about my speeding ticket.  I'll tell him in Feb. after my car loan is paid off.  One month before my car insurance gets renewed.  I can imagine all of you must be laughing at this point.  Note - when I close out the IRA, it's $26,000. - taxes = approx. $20,000.  I don't know exactly the tax dollar amount, but I'm being conservative.  I didn't want to pay more for a car than what I will collect from the $26,000. IRA. 

Now can we get to some good news?  I actually had 2 couples that contacted me to look at homes.  I was so excited!  I just got licensed in June and expected nobody to contact me until Christmas.  So for somebody to contact me now is unbelievable.  I showed them homes & I now have clients - yeah!!  Whether it will work out or now who knows, I'm just excited to have somebody contact me.  And this happened the SAME DAY that stupid cop gave me a speeding ticket.  I still have a lot to learn in real estate, but having no children living at home helps a lot.  I'm able to spend a lot more time studying, learning, etc. without the added distraction of "Mommy, I need you", "can you drive to so and so's house or my afterschool activity" or remember the whining days of toddlers?    So it helps a lot not having kids at home.  By the way, most of the other agents in the office are much younger than us with kids.  So having real estate as a retirement career gives me a huge advantage.  The disadvantage I have that the younger agents have is they are able to connect with other school parents.  Unfortunately those parents I can't use as possible clients.  So I'm mostly going after businesses.

Kathy

Avatar for suzyk2118
iVillage Member
Registered: 07-30-1997
Thu, 09-12-2013 - 8:35am

Do you know any lawyers who can get the ticket 'fixed' to be a parking fine or something? DS21 had one last spring going 44 in a 35 and the ticket cost was $75 but would also add a point to his license.  We got it 'fixed' and he had to pay $175 but no point and no insurance increase...

Sue

Avatar for elc11
Community Leader
Registered: 06-16-1998
Thu, 09-12-2013 - 2:45pm

Too bad about the ticket. Is Traffic School as possibility? Here, if you're not a repeat offender, I think you can get the point removed from the insurance and the fine dropped considerably if you attend a couple of sessions of Traffic School. My dh did it once and said that the teacher (who was in law enforcement) could have been a stand-up comic, and that he learned several laws and driving tips to boot, so not a bad experience at all.

Congrats on getting some clients, I hope that you can close deals for them. Are you thinking about trying to find a particular "niche"? Since school-age families seem to be out (because younger agents get those clients) what about focusing on helping empty nesters/retirees who want to downsize? I realize that the more expensive the property the larger the commission but maybe you can do as well with a group with whom you can relate because you're in the same phase of life and thinking about what is required to "age in place". You could advertise at JCCs, Oasis, places where our age group and older go to socialize, learn, or exercise. And if you can help them get into a smaller place maybe they want you to handle the sale of their large home too. Just a thought.

Congratulations on the new car. I'm pretty sure that when I finally replace my 96 Camry it will be with a Prius.