Things are going on in my life right now that frustrate me and bring me down. In the last seven years we have been working steadily in Real Estate. We understand that there are ups and downs in all markets. We set up good cash-flowing properties that we work very hard to maintain. We found areas that there was need and worked to fill them. But things don’t always turn out how you expect. We’ve dealt with tenants who are dirty, who don’t pay, and are down right disrespectful.
But a new bully has appeared to us in our Real Estate. The Banks. When the market was good they offered us mortgages galore, and we got them, realizing that markets could change, but feeling that if the property paid for itself, then there would be no issues. Then the market changed, Real Estate prices have dropped and everyone has seen this across the world it seems. Quite often, depending on when people purchased, values have declined enough that they are near or even below what the original mortgages value. Again we understand this, it’s part of the cycle and we have a couple properties like this, but the difference is that the property still pays for itself.
What we didn’t realize is that in their panic some of the banks are now calling many of their loans due. This leaves the owners of the property in a position where they must now sell the property, and pay back the bank the difference between what it is sold for and what they owe. If this is a personal residence then it leaves the owners with only a couple options, to file for Bankruptcy or use whatever savings they have. In an investors situation it creates a domino effect where they must now sell any properties with equity in them to pay out the banks. This is the situation we are currently caught in.
In between being angry and feeling like I’m on a sinking ship with only a bucket to bail, I turn my head to the light, to the positive things, to the reasons why I won’t let this new setback drag me too far down.
I have a husband who adores me and is my strength
I have two beautiful girls that I love so much
My husband makes me laugh even when we are down
I have family around me who love me
I have friends who support me when I’m sad
My daughter got 100% on her math test
I love the Jazzercise classes I’m running
I get to explore the passion of painting
I have and have had great mentors in my life
There is a little stash of chocolate bars just for me
I have a clear vision of where I want to be
I understand I have the power to change my life
∞∞∞ Karen Biko is Jazzed About This … sort of ∞∞∞
K – that seriously sucks. I’m glad you’ve found things to be jazzed about, even with the almighty bummer the Banks are.
shell
You have lots to be grateful and its just beautiful that you know that