Being bled dry...

[dixiechick]

Re: Being bled dry...

Well we did get some good weather this weekend and hopefully his crew is finished. They are doing the "walk-through" todays, so if there isn't anything left that needs to be touched up. They should be finished and we should be getting our check this week. Thankfully... we are past due on bills and vendors have start calling.

The good news is that he landed another small job for today and every little bit counts.

If the apt property mgt likes their work, they have 150 properties btw TN & NC, and there will be more work. He quoted them on refurbishing the pool at a complex down the road from where they were working. They just purchased this complex.

Our accountant is still MIA and I faxed him a letter with the late notice from the City. I still haven't heard back from him.

If I have to fill it out, I don't even have any of our first half of the year business records. I can only do June - Dec.

[dixiechick]

Re: Being bled dry...

first of all dixie, you know i wish you guys nothing but the best...seriously. i hope things turn around for you guys, but i'm affraid things are just gonna get worse...it's very possible 3million people could be un-employed pretty shortly and plenty will try there hand in construction. face it....alot of them dont have college degree's and will see the physical labor is a thing they can do. granted...most will suck and fall by the waist side, but not before reaching into the pockets of REAL contractors...it's gonna get tuffer for all of us.

I'm trying to be positive and not a doomsdayer, but I'm afraid of the same thing. It's just not looking very good. If the auto industry goes bankrupt, it's going to make matter much worse.

Btw... did you see the History channel this weekend? They did a documentary on the Great Depression and compared it to what's going on today. Very interesting... I still have hope.

[dixiechick]

Re: Being bled dry...

Sorry to hear that Dixie.
I have a suggestion for your houses.
We have 3 on the market that haven't sold. 2 have been on for 6 months, 1 for 1.5 years. We recently put up a sign that says lease to own. We have had quite a few inquiries about them.
You charge a non refundable deposit, sign a 2 year lease agreement that states that at the end of 2 you they buy the house. The rent is to pay the bank,insurance and taxes. Only a small part of the payment goes toward the purchase of the house, say about 25.00 to 75.00 per month.
It may be worth a try and help relieve some of the money flow problems.

I'm trying ALL my options at this point. At the first of the year we put a "Sale by Owner" sign with a "For Rent" sign, and I ran ads in the paper for option to lease to own. No bites. Not one. Few people looked at it to rent but no takes. Then in April I decided to give it back to the real estate agent. I was hoping the market would come back. We know how that went.

I tried renting to this lady for $750 month... 3-BR/2-Bath; 2-car garage... 1300 sf. She decided not to take it. Now my windows are busted out in the garage and I have a few more repairs to make before I can put my signs back up. I'm going to try it again.