The investment deal ran into some problems. It will now be delayed and may result in some additional fees that I will have to pay in order to get it moving again.
Also, it screws up my schedule again since I was planning on traveling to Ohio during Christmas, which made it easier since the client work would have been light.
On top of that, I really didn’t do anything else or bring in any additional revenue. I will almost definitely come up short on the goal. Looks like I pace about $20,000 per month, and with a 4-month timeline, I needed to hit $25,000, which I couldn’t do.
Previous Commitment Report
Again, I am not sure what I was really supposed to be doing. Clients are still happy, all expenses have been submitted and approved. I am just waiting for the actual payment, which is now out of my hands. I will count this as commitment met!
I am still coming up short and don’t know what to do about it, though. I have the investment deals line up, but the closet one keeps hitting some issues. I could work on it along with the newest one, but getting too many deals going also makes it likely that none of them will finish.
The goal of saving the money was for the two deals, the one that’s close, a commercial real estate deal, and one that has been stop-and-go for a while now, a real estate development deal. The new deal that came along with another commercial real estate one.
While I would have liked to meet the savings goal, really, it has no effect. All 3 deals spilled over to next year, and just because I didn’t come up with the money now, doesn’t mean I can’t do them. It also doesn’t mean they will definitely happen, either.
I think getting everything in place to continue saving money, keep a more active list of potential clients, and set up a couple of alterntive sources of income should be the goal for the rest of this year while focusing on the investments and trying to complete them as soon as possible.
There’s no doubt I am coming up short. If I keep up my average, I should end around $80,000. I have nothing lined up and ready that could possibly generate an additional $20,000 by the end of the year.
For this week, I moved over a terrible $2,500.00. All of it was from client work.
It’s not the most I could actually do, though. As I mentioned above, the investment deal hit some problems, and about $3,300 in fees may be required to get it moving again.
I held back money to cover those fees.
Additionally, I am nearing the end of the month when rent and other expenses hit. Scraping every dollar I can from my checking account isn’t a great strategy at this time.
I will also have investment expenses come up. For example, 6 of the rental houses do not have property taxes escrowed in with the monthly payment. Soon, I will get the bill for those.
Commitments for Next Week
I am not really sure what to do for next week. Next WIG session Wednesday falls on January 1st, making the day before the last day I am supposed to be doing this. I will likely still post a WIG Session Wednesday post along with a 1st of the year post, but essentially, the time is up.
I would have that Monday, the 30th, to do one more bank transfer into the savings account, but between now and then, I don’t really see a whole lot of options available to increase my revenue enough to make a difference.
I feel like I just need to try to make it to the finish line.