A GOOD DAY

[Jerry W.]

Just thought I would share one of my good days to help balance out one of my earlier posts of "Had a Bad Day".  In that post I told how on January 1, 2016 I borrowed a friend's brand new trailer and went and bought 50 squares of shingles that were on sale.  On the way back the ball broke off the trailer and in the resulting crash I lost many of the shingles and totaled the trailer for total damages of about $16,000.  Well two days ago I sold a property that I had only owned for about 2 months.  I originally went to help someone else buy it and they backed out.  They had no problem with me buying the property so I closed on the same deal that was previously made.  I strongly believed it would make a great rental for me, but needed cash and was worried about our local market crashing.  The end result is a net profit of $20,000.  To make things even better I am positive my buyer will also make money after fixing it up,  I did nothing but some clean up and yard work.  I also sold a small piece of farmland I had owned for about 20 years for about a $50K profit.  We have had a bad drought and I simply did not have the time to plant and irrigate it to get back into good condition.  A wonderful young couple bought it and will enjoy it immensely.  Last but not least I also sold off one of my big problem properties.  Someone had tried to join 2 mobile homes together and it was a mess.  It has a nice garage and nice shop.  After 2 people tried to buy it and defaulted, and same with renters, I finally sold it.  The profit was only about $10K but it has paid for itself over the last 15 years so it had no mortgage.  All in all while the start of the year was horrible, I have used the extra money to pay off a small mortgage increasing my cash flow, and I have paid off some big ticket repair items like replacing a sewer line and putting new roofs on 4 properties.  I have great cash reserves for looking for new properties.  Things ebb and flow in this business.  It is good to be able to post good and bad.  Have a great day all.

[Steve Vaughan]

Thanks for sharing your good, day @Jerry W.!  We need more of these posts!

I remember your shingles on sale transport debacle.  Sometimes us DIYers get in a pinch doing our thing.  All we can do is learn from those and we will earn more of the 'good days' when we learn enough.

You're right.  Things ebb and flow in this business.  Glad things are going your way again. You have been weathering a cyclical oil price and employment storm in your area for a while now.

You deserve many more good days!