Wednesday, August 11, 2010

The 'Sarah Situation'

With Sarah, there always seems to be a 'situation'.

Today, I learned that Sarah's boyfriend has bought her a car and she's afraid to call me to tell me the car I bought for her is broken...for good this time. So, for all practical purposes, she has abandoned the Ford Taurus. This makes me feel sad on so many levels.

Tuesday, August 10, 2010

Is that my car?

I can't believe it! Ed and I found the 2005 Ford Taurus that I bought for Sarah Nicole Rinehart sitting in the parking lot of Long John Silver's ... 2 blocks from our house. I asked the Long John Silver's employees if they were aware of this car and they said yes "...it had been sitting there for about 2 weeks...with the window down'. They were getting ready to call the police to check and see if was stolen. Another Sarah situation!!!

Of course, the car would barely run. It sounded like the engine was going to shake out of the hood and it probably would have if you left it running very long. We were able to drive it home with the spare key (that I spent $100 to make before giving it over to her) and parked it in the garage. I'm waiting for that phone call when she actually does go check on it again (who knows, maybe she never will) and it's gone. Not sure if she'll call the police or me!!!

Anyway, Mitch took a look at it and said it had thrown a rod, and the back window was busted out. Thanks to Sarah, in less than 1 year (8 months to be exact) the car is ready for the trash can. I've already had to replace the head gasket back in May. I remember it well, I gave it back to her, directly from the mechanics, on her 20th birthday, May 7th.

The poor poor Ford Taurus is now going to the auction and hopefully will find a nice person to take car of it.

As for Sarah...who knows how she'll get around? She's got something going now as I haven't heard a peep from her.

And me...I'll never buy Sarah another car...possibly nothing ever again! She seems to believe in disposables. If it doesn't work or she doesn't need it any longer...throw it away!

Very sad. Hurts my heart.

Wednesday, August 4, 2010

The Bridlewood house passed inspection

Good news again today! The Bridlewood house passed the home inspection today without any big surprises. Just a lot of cosmetic and handyman type things.

Laura has a walk-through scheduled with a property management company tomorrow for the Carrollton home. After that, we'll start on the North Richland Hills (NRH) home.

Things are moving along!!!

Securing financing is next.

Tuesday, August 3, 2010

We're not selling the Carrollton house after all!

Today we spoke with Lee Heffley, our accountant. Ed told him the whole story and Lee told Ed all the benefits there is to owning rental property. After a long conversation with many questions, Ed and Lee hung up and Ed decided we needed to keep the Carrollton house and rent it out.

My sister Laura, our real estate agent, is going to be so confused. We've had two offers to lease the house while it was on the market (135 days) with no buyers and now that we have a buyer, we want to lease it. Crazy!!!

Anyway, so the new plan is to hire a management company and let them rent it out and manage it for us. Neither Ed nor I have the time or patience to do that...AND we can write off the cost of the management company - win/win!

So here's we stand today.
1. Both houses will be rented by utilizing a management company
2. Bridlewood has contract is at the underwriters
3. Ed and Lisa need to secure financing

More to come!