I have given notice to one tenant to vacate so that I can sell the home. It's the 2 bedroom, 1 bath near downtown. I was fine with keeping it rented until I found information that makes me think the tenant has moved out and left her adult son to live there alone. There have been a few issues with the air conditioning unit needing service and a water leak. Repair people are harder to find and replacement parts take longer to get. She was patient, her son is not. When he called me on a Friday night to yell at me to get a repairman there instantly, I suddenly wanted to sell the place. They have 7 weeks to find a new place. It will be tough since he has a dog and a project car in the backyard. I have kept rent low through the pandemic. It's $700/m and I was planning to raise it to $900 over the next couple of years. Now I like the idea of cashing out. Hopefully, they will leave without causing damage. I don't know if the housing market will still be favorable in July but I'm going to see what happens. I can always rent it out again.
Frugal Freedom
A girl, dogs, a house, and a frugal dream.
Friday, May 13, 2022
Is It Still "Early" After 50?
I have given notice to one tenant to vacate so that I can sell the home. It's the 2 bedroom, 1 bath near downtown. I was fine with keeping it rented until I found information that makes me think the tenant has moved out and left her adult son to live there alone. There have been a few issues with the air conditioning unit needing service and a water leak. Repair people are harder to find and replacement parts take longer to get. She was patient, her son is not. When he called me on a Friday night to yell at me to get a repairman there instantly, I suddenly wanted to sell the place. They have 7 weeks to find a new place. It will be tough since he has a dog and a project car in the backyard. I have kept rent low through the pandemic. It's $700/m and I was planning to raise it to $900 over the next couple of years. Now I like the idea of cashing out. Hopefully, they will leave without causing damage. I don't know if the housing market will still be favorable in July but I'm going to see what happens. I can always rent it out again.
Friday, March 4, 2022
Spring and Wind and Bills
It's a very windy day here in Arizona. Still sunny and 70's so I'm not complaining. My last tenants of the snowbird season arrived on Tuesday. Hopefully, they will have a great time and no problems. So far I have had a few issues but nothing major.
My big TV decided to only play Netflix. Luckily, the tenants were happy with Netflix. I was able to do a factory reset after the tenants left and it works fine now. Cost $0, well, it took 45 minutes on the phone with Vizio help desk so not exactly $0 if you count my time.
My dishwasher died. I bought a new one rather than try to get a used one mainly because the tenants use the dishwasher a lot and handymen and spare parts are in scarce supply. Cost: $550.
The February tenants forgot to lower the patio umbrella during one of our wind storms. It blew over taking the glass-top table with it and boom...glass shattered everywhere. They were really nice, cleaned up the mess and replaced the table before they left. Cost $0 for me.
One of the hose connections froze during our 3 days of winter. The drip system connection was rusted onto it and it couldn't be replaced but I figured out how to use part of the garden hose to replace the whole thing. Cost $25. I was proud of myself for figuring it out and my rose bushes will be very happy to have water. Wait time for an appointment with my plumber of choice is 5 weeks. My handyman got a full time job so he is not available either. I'll find a new handyman eventually.
A new HVAC system is still a priority and they do not have a wait list so I will make an appointment in April when the current tenants leave.
Another extra cost that I added was an exterminator to spray for bugs twice a year. I've never had a bug-guy before but after the great cricket invasion of 2021, I hired someone when the tenants saw a "bug" and bought cans of Raid. The bug-guy assured them that the house was not infested and it was just a harmless cricket. I didn't bother to tell them about the giant sewer roaches or Huntsman Spider that I saw on the ceiling in the Summer or the increase in Black Widow spiders up against the house. They don't need to know that. Most venomous stuff is sleeping in the winter.
I cleaned and set-up the house 4 times this season. Of course, I was the messiest person to clean up after. The tenants have all been very neat and courteous. The dirties thing has been the carpet in the back bedroom. I've had to scrub it twice. I don't know why people track stuff in there but I am very glad that the carpet is brown and that it cleans fairly easily. I'm glad that is the only room with carpet.
The one room with carpet. |
Summer |
Winter |
My little princess was having issues walking so I made her an appointment at a new vet office. 5 week wait for an appointment. 2 weeks before the appointment she starts crying and holding up her front paw. Of course I rushed her to the emergency vet. 7 hours later, all the tests were negative. She was on pain meds for a few days and was better than before. I think she sprained her shoulder when her feet slide on the polished concrete floor. She won't tell me where it hurts. Then, her brother's eye swelled up. I got him some ointment from the feed store and it was better after 5 days. I decided to take him to the long-awaited appointment. They said it might be a tooth infection but his bloodwork showed high kidney values so he is not a candidate for sedation and dental work. He's on special kidney food now. My pets like to remind me that I need to have enough money in my pet budget before I retire.
The princess and the pea |
My retirement spreadsheet is looking pretty glum. It's doing the one step forward, two steps back dance. I suppose most people's investments are doing the same. Except for the housing market. That is still going up but it means nothing because I am not selling. Current projected retirement date is still 2 years away as it has been for the last 3 months.
Wednesday, January 12, 2022
Happy 2022!
Another year full of hope and promise. So far this year I have gotten a raise, my sister agreed to let me buy her half of my house and my neighbor, who I live with during the winter, adopted a new dog. Of those three things, the one that affects me on a daily basis, is the dog. He is young and energetic and, of course, too cute. So far the other dogs are annoyed by him.
I am thrilled to be able to own the whole house. Although the paperwork isn't complete yet, it will greatly simplify my retirement calculations. Trying to manage a hybrid rental home with partners was too complicated. I should have known better since I don't even like the property management company that I have for one of my rental homes. I like making decisions alone.
This is a good time to review my properties:
1. House near the airport - rented through a property management company.
2. House near downtown- rented out by me.
3. Nephew in mobile home on 4.5 acres in the desert - I banished him there.
4. House that I live in but rent out in the winter- rented through VRBO.
5. Tiny house next to mobile home in the desert- currently unfinished inside. This is my emergency backup housing.
So, the exciting news is that I added up my account balances and I could safely retire in two months. The bad news is that I raided both of my maintenance funds to pay for half of the house so it wouldn't be prudent to quit yet especially since the house needs a new heat/AC unit ($6k). I must focus on replenishing those accounts and keep working towards my backup funds of $1500/month. My spreadsheet says in 2 years I could do it. I bet I can do it quicker!
Friday, November 12, 2021
Autumn 2021
Hello from the downhill side of 2021! It's been a generally uneventful year, just the way I like it. I have been keeping busy with my regular job, doing eBay sales for our animal shelter and working on puzzles with the neighbor. Add in home improvement projects and dealing with rental house issues and I don't have a lot of spare time left over.
Obligatory picture of one of my dogs. I've had her for a year now and she only tries to bite me occasionally. She refuses to look at the camera but she does like to be near me.
I bought some seeds from the local Native Seed/SEARCH company and grew these lovely Mexican Sunflower bushes. Both yellow and orange grew but mostly orange. I have never had so many butterflies in my yard! It wasn't only the flowers, it was also the extra rain we got this summer which caused a boom in the butterfly population. My sister bought me a hammock chair and I hung it off the back porch and watched them frolic.
One of my house projects was to paint the enclosed porch (aka Arizona room). And since no project is ever simple, I hired a handyman to replace the bottom 6" where it had been water damaged and crickets had taken up residence under the bottom of the wood siding. Much better now and I am really tired of painting but I am not finished yet since I haven't painted the side with the white door.
The handyman also replaced the sagging porch beam so that I could hang my hammock chair, installed a gutter and added this rain chain which goes to a 50 gallon barrel. It hasn't rained since so I don't know if it will work in an actual storm. I did try it with a hose and it worked well.
Both of my rental houses are rented with good tenants who pay on time. One of them did fall behind last year when she lost her job but caught up again with the help of the eviction prevention funds. One house needed painting because the HOA said it was time. It was faded so, yes, it needed it. It took me 4 months to secure a painting company because the first guy strung me along and then got overwhelmed with the rain delays. The other company was faster and cheaper so in the end it worked out. Then the A/C started having issues and I paid a lot for those repairs. It's a good thing I have a maintenance fund for those houses.
Regarding my early retirement plan, well, I'll be 50 next May so if I keep working like this my "early" retirement plan is just going to be a regular retirement plan. According to my calculations, I am still at the 1 year 10 month mark. It never seems to get any closer. I blame lifestyle inflation which is completely within my control.
I did not do anything with my tiny house. I think about it often, designing and redesigning the interior in my head. My nephew still lives in the mobile home next to it and reported a big rattlesnake at the front door. He doesn't maintain the fence that I built to keep snakes out and isn't too concerned with keeping the gates closed. He might be a little more concerned now. I found a baby rattlesnake in my walled yard a few months ago. I hadn't blocked off the drain holes and there was also a gap under the gate. I'm glad that I saw it before the dogs did. The fire department came and took it away.
In two weeks I will move in with my neighbor again and rent my house to snowbirds from December through March. The eBay stuff and packing supplies make the move a lot more difficult. I will have another two weeks to clean the house and finish up my projects before the first tenants arrive. I hope there won't be any surprises like the leaking roof of last spring or Covid of the year before. Nice and predictable, that's what I'm hoping for.
Saturday, January 16, 2021
New Year Update
Hello to my friends in internet-land!
Wednesday, February 5, 2020
I'm Still Around
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Ok, time just sped up and I have moved to my unfinished tiny house for 6 weeks, at least, and a couple more weeks if my tenants find a golf course to sell them a two month membership. I just want to show you pictures of my patio furniture though. One of the things people asked about when they looked at my house was if there was patio furniture available. I saw this patio set, minus the cushions and umbrella, for $60. I asked the lady if she could wait for me to pick it up on the weekend when I had the U-haul truck and she said yes. That was a great deal. I had the umbrella and I bought the cushions for $20 for 6 at the thrift store that I volunteer at on Saturdays.
So, here is a picture of the tiny house with the new deck before I dragged everything out from inside and put it on the deck so that I could move my stuff in. Mostly wood boards, trim, metal gutters, things for future projects.
This is the kitchen area. Again, a temporary set-up. My handyman build the wall that separates the kitchen from the bedroom and added two outlets. I have two induction cooktops but I haven't done much cooking yet besides microwaving.
So, that's what I am doing. The endless list of projects have shifted from the house to the tiny house. Lots to do. I don't have water or drains yet. My nephew is still in the mobile home and his bathroom is available. On sunny days, I put the camping shower in the sun to heat up. I have an aquarium pump for hand and dish washing which goes to a bucket and I dump it outside. It's really quite nice on warm sunny days. I'm glad that I am finally living out here after so much planning. So much to do but I'm having fun.
Friday, August 23, 2019
Making Hybrid Plans
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This cart was a Christmas present to myself. I finally put it together. |
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I bleached and painted the floor of the storage room before I put the carpet back. It doesn't smell now. |
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A very long gopher snake visited my yard for a week. He always startled me but I was glad to have him visit. |
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I repurposed the fiddle-muff that I had bought for my mom when she was in the assisted living home. My dog appreciates it. |
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In my search for the water leak, I made a hole in the ceiling. I think I know where the leak is coming in now. The repairman will be here in a couple of weeks. |
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I have been having fun buying southwestern decor from the thrift stores around here. I need a few more things. |
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I decided on "Italian chicken" as my theme for the kitchen. Haha. I don't think that is a "thing". Maybe I will be a trend-setter. |
Friday, May 31, 2019
Budgets and Plans
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Let's take a look at my financial freedom/semi-retire early plan again. I admit it, I am a total scaredy-cat when it comes to quitting my stable, good-paying job. I'm going to be updating my spreadsheets into my 60's if I don't get up some courage to just jump. Or die at my desk. That alone should make me want to quit. What am I afraid of? Running out of money and being too old or ill do make any more. So, with that in mind. Here is my current plan.
I have re-adjusted my minimum budget and removed health insurance. My previous plan was to get insurance through Medicaid because that is what the ACA site told me I would qualified for. Now, in Arizona, they have changed the requirements and any able-bodied person will need to work or volunteer 20 hours a week in order to qualify. That is fine but if I am working part time, then I am just going to use that money to buy my own insurance. When I looked up available plans, the cost was between $300 and $600/m. I did not look up plans through the ACA exchange because the site won't let me see plans without putting in a lot of personal information and I don't need to do that now. Maybe I will qualify for a subsidy but I am going to assume that I won't and just go with the highest price of $600 as my goal. I can pay for that with a part time job, or selling on Ebay, or maybe some sort of small home business.
So, what will I do about that? Here is my income plan:
Rental 1- $1,050
Rental 2- $700
Subtract property management, taxes, insurance, maintenance. Let's call my net profit $1,100 for both. Since my rental income is not stable, as you know from previous posts, I am saving an additional amount, I call it the freedom fund. I figured out how much I would need starting back in July of last year until I am 59 1/2 and can take money from my 401K. That is 161 months or 13 years and 5 months. I am adding $2K each month to my fund and subtracting $700 each month from the total needed since I'm getting older. Where the two columns meet is where my freedom point is. May 2020. 48 years old. You might notice that my freedom fund did not start at $0. I put $52,000 from the sale of my home into the fund to start, then I came up with this plan later.
Rentals: $1,100/m
Freedom Fund: $700/m
Total= $1,800/m
Budget: (-$700)
Health insurance: (-$600) part time job or business
Hooray for wiggle room and hopefully enough to get me through a rental income drought.
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Now it is almost June. 12 more months until I've saved up enough for this plan. A few expenses have gone up. My cell phone plan went from $15 to $20. I put my mother's car in my name. The registration is $60 and the insurance is more although I plan to go back to liability coverage only once I move out to my property. My portion of the inheritance will go to savings for rental house maintenance and making my tiny house and property livable. But the house has to be sold first.
This week has not been as fun as I had hoped. Working from home comes with its own set of challenges. Mostly I don't like being isolated from my coworkers even though I only have one regular coworker in the office. Maybe I just don't like that she is on vacation and everyone is asking me for answers that I don't know. I would also need my computer and two large screens for my home office because working on a small laptop is frustrating. Next week I will be back in the office. The following week, my coworker will be traveling and I will be working from home again but she will still be working so I shouldn't get the questions that I can't answer. The week after that, my sister will visit and we will sort through the contents of the house. Then the week after that I'm traveling to our corporate office for a few days. That pretty much takes care of June. I hope it is a productive month.
Monday, May 27, 2019
Which Direction to Go
New windows! The new windows are in and look great. I hope it lowers the electric bill this summer. I also dug out the old barrel cactus and planted some Lantana flowering shrubs. The cactus are too heavy for me to move or cut up so I will ask the landscaper to haul them away.
My own tiny garden in the backyard is loving our abnormally cool weather. This sunflower decided to bloom all at once. I also have some grapes, Moringa, and alfalfa growing. Last week was really windy and the grapefruit tree has been dropping the fruit that was out of my reach. How convenient. The wind also blew over my mailbox. It appears the post rusted at ground level. I still haven't decided how to fix it but it is propped up with rocks and a bungee cord attached to a screwdriver pounded into the ground until I think of something.
My co-workers all chipped in and bought me a tree for my mother. They bought one for my father three years ago. That was very nice of them. This tree needs about an 18 inch deep hole. I'll probably wait until the fall to plant it on my property when it is cooler and I won't have to worry about watering it.
My dove couple is back sitting on their third batch of eggs. I wonder how long they will keep laying them. It is fun to see the babies hatch and grow.
So, that's what is happening. I'm also continuing to sort through boxes and plan a trip to New Mexico and Texas, probably in the fall since traveling with dogs during the summer seems too complicated. I'm leaning toward renting a minivan and turning it into a stealth camper with a 12V cooler, porta-potty, fan, and bed. I'll have to actually look at minivans to see if my plan will work.
Thursday, April 18, 2019
The Journey's End
It's been a long, terrible journey with vascular dementia, a type of dementia I didn't know had a name a year ago. I am glad she is finally free of pain. I took the week off to get things organized and just take a break. The funeral won't be until next month when everyone is available. I'm trying to decide how long I want to stay in this house. My sister will transfer the title into both of our names in order for me to stay if I want to since she is over 55, as this community requires one person to be over 55. I have some time to decide.
Monday, March 25, 2019
Spring Projects
I'm also sorting stuff for another community garage sale this weekend. A co-worker brought some items over too so I have lots of stuff to sell. He brought Pyrex bakeware, I have cheap Anchor Hocking. I think I'll swap them and sell mine. He also brought some nice pans. I might swap those out too. No fair keeping stuff if I don't get rid of something else though. I'm not a hoarder...well, ok, a little bit.
Besides that, I've been spending a lot of time chopping up branches to fit in trash bags. I miss the giant dumpsters from my old house. My trash service here only picks up what is in bags. That means thorny bushes have to be chopped up into small sticks. I finished the small Palo Verde tree last weekend and will continue with the thorny lemon tree branches until they are gone. I also tried some ground clear weed killer yesterday. I hate weed killer but the weeds in the river rock were getting out of hand and I had a bottle of this stuff from my last tenant. I had bought it for him to use on thBermuda grass around the mailbox but he never used it. It's one of those bottles that hook to the hose. I think it was working, hard to tell. I suppose I will know when the weeds die or look healthier. Hopefully, I didn't get the stuff too close to my cactus. The homeowner's association is coming around to check on weeds at the end of the month and issue violation notices.
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Still green. Guess it didn't work. |
And in other news: My mother is doing ok. Not good, just ok. She is a tiny skeleton of her former self but she still eats enthusiastically. Some days she seems to recognize me and other days not.
The dogs are doing well. The new old guy, Baloo, fits in nicely. The little dogs still bark at him when he comes near but not as much as they did when he first got here. When we go for a walk he only walks two houses away before he wants to go back home. His back legs are weak and sometimes he trips and just lays on the ground for a while. But he enjoys his many dog beds, the plethora of squeaky toys, and treat time. It is cute the way he enthusiastically greets me when I get home along with the other two.
And there are two baby doves growing up on my front patio. Momma dove built her nest on a shelf near the front door. I hope the babies never fall out of the nest because the dogs walk by them unaware everyday. I wonder if Momma bird is regretting her choice of nesting site.