Last post I promised to write about the status of our finances regards to our credit card debts. And I am REALLY sorry if it takes a little while (almost a week!) because tons of going on lately. I have a progress report to be submitted on time and some stuffs came up on my other job. Now it’s time to blog again. Yay!
If you’ve been around reading my blog,you know that we have one goal. A very important goal for our family, to be able to say someday that we are debt-free! That’s why I started this challenge months ago. I stopped it after updating my readers about our financial progression;sometimes with a little agony of disappointment if nothing positive happens that month.
My husband tried to venture on real estate;flipping house and make money out of it. He found a partner he who thought that would be a great business partner to make money together. It’s been over a year since we started it and before we even finish, things fell apart. We got rid of him and hired someone who will finish fixing the house. My husband doesn’t have carpentry skills. The set up was—he can offer any help,like cleaning the house and be the finance person and his business partner,a carpenter,supposed to do fixing the house without shelling out any cents. It didn’t work out that long and now we’re like someone who was left outside the rain—soaked. As I hated to be in so much debts,now we are in big debts again. We had to use all the resources we have to finish it then sell. Hopefully by next week our house is already on the market.
We learned so much on this business endeavor. A lot. In business,some friendships get ruined. It happened to us. Our marriage was threatened and a lot of stress we had to put up with. Those “I told you so!” moment and other blaming game came in the picture but we have no choice but to deal with it like a couple in front of the altar during the wedding ceremony. For better or worse,right?
On the brighter side, we take the bullet and aim to continue what we started even we’re not getting the money we are shooting for. At least to get the money we invested on.
I talked to my husband about his business he thought his “calling.” To flip homes,you should be really handy to make money. But when you do this kind of flipping business and you hire people to do work for you,it’s nothing unless someone is willing to take your price. Buyers give offer and it would be your decision to take it on the spot or wait for next luck. Real estate is like a gamble. You win,you lose.
Hopefully,we won’t wait too long after we put this on the market. The longer we keep this house,the more expenses we incur—electricity,utilities,loan interest,etc. That’s why I promised I will post when we pay off all our credit card debts once we’re done with this. No matter what frugality I do,the money keeps of flowing out. It’s disappointing sometimes but we are positive that everything’s will turn out okay. I know that this is a headache and if one of you is planning to dive in this kind of business,it’s okay but please learn from us.