Monday, August 25, 2008

Tomorrow's the day!

Jen went to the bank today and got a cashier's check for $62,328.56 to close the deal. She doesn't like walking around with that much money. This was from the HELOC on our primary residence, which we're using to finance the down payment. Although long term rates are up lately, Ben Bernanke has been nice enough to keep short term rates down. I have auto-payment via my bank so our rate on the HELOC is prime - 0.50%. So this month it's 4.49%. Not so bad. I wish I could get long term money at this rate. And, it's tax deductible since it's financed from our primary residence.

Next steps, sign the paper tomorrow (tuesday), get the keys thursday, and get the painter in there (Friday)? The head roof guy is out of town this week. he offered to send over his guys, but David suggested we wait a week and a half til he gets back, so we get it done right. Probably a good idea. So we''ll get the painting done first, get the house on the market, and then get a new roof.

It'll soon be Kevin the property manager's turn to do his stuff. We've also got the kids moving out of our first rental this month, so we need to get folks back in there ASAP, or we're gonna be waaayyyy Cash Flow negative.

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