Friday, May 30, 2008

5/30 Expressions

I have been an "ostrich with my head in the sand" when it comes to checking our stocks, mutual funds, and retirement 401K equivalents for probably the last 3 months. We are "buy and hold" kind of people - so, I didn't want to send us into a panic, depress ourselves over things we don't plan to change in the near future. Well, yesterday, I summed up the courage. Yup, we have suffered a paper loss - but no where near as bad as I thought. Of course it helps that the last 3 days have helped us regain some of the loss.

On the rental property front, one of our long term tenants moved out today. She declared bankruptcy about 7 years ago, but did pay her rent. I believe she ran into some medical problems? In any case, she has purchased a place of her own. So, we are happy for her. We have kept her rent lower than "market" because she was such a good tenant. So, the rental agency said we should be able to re-rent for a good bit more. However, it appears quite of bit of work will need to be done to get the place rent ready. The tenant has agreed to forfeit her entire deposit. Of course, some of it will be chaulked up to "wear and tear". So, I have started calling for estimates - although the rental management company will be providing us with estimates too - I want something to compare them with.

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