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Buying foreclosure properties at the courthouse steps |
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Last week I went to the monthly foreclosure sale at the courthouse steps. It was my first time attending a foreclosure sale and these were my observations.
When I first arrived, the sheriff was standing higher up on a bench and there were about 20-30 people around him. An assistant passed out a handout of the properties that were up for auction. You are to arrive with cashier's checks or money orders on hand to purchase the properties on the spot and be given the title. There were 14-15 properties on the list with 2-3 of them being struck out and the rest available. As the bidding began there was a common theme that began to arise. There were many spectators and those wishing to bid and then there were those that actually had the cash to buy. It was easy to note whom were the investors in the crowd. Most of them stood together as they all knew each other and had pre-printed lists that they had brought with them of the properties with comps, maps, and details. They didn't bid on any of the properties in this case all acred lots that were up for grabs at $1500 each but instead waited to bid on actual houses. A certain man did pick up about 5- 7 lots all within the same subdivision. This man was an interesting figure. He was a lean, hispanic man whom seemed to be in his late 30's-early 40's. He wore a soiled mechanic's jumper suit and had various tattoos and looked a bit scruffy. He didn't seem the kind of person whom would have the cash to buy these properties all at once yet he did. The investors in the crowd mentioned that he was probably buying to build small houses on the land to sell or rent out. I didn't ask. There was one property or piece of land that did gain interest from the public and the bidding started a bit higher at $2500. It ended up going for about $5000 for that piece of land to a couple in the crowd. (read more) |
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I choose to be a Work at Home Mom |
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 If I ever wanted to have the best of both worlds, I do now. In my previous post- Stay at Home Mom vs. Work at Home Mom I talked about my troubles of wanting to work vs. just enjoying being home with my baby. That article got tons of traffic and I don't know if it was because you the reader related or simply wanted to know more about my struggle. I decided that I choose to have both work and being home and hope my gameplan helps you figure out yours. I've made it a part of my personal mission to create wealth while spending more than 65% of my time with my toddler. I estimate I have about 100 waking hours during the week. I have 35 hours available to get work (and other things) done and still spend 65 with my baby.
Below is how I've structured my working time around that goal. My working time consists of .....
- (10 hours) Mondays & Wednesdays from 9 AM - 2 PM (CST) while she's at Mother's Day Out. If you want to meet or talk with me, that's when to schedule for.
- (3 hours) Nap times on Tues/Thurs/Fri- 1 hour each. Good time to catch up on email, return phone calls, or write a post like this one.
- (10 hours) 2 Hours each weekday evening after she goes to bed, I'm staying up to do some work online. Can vary up to 4 hours or more depending on what need's to get done.
So here I've set aside 23 hours to work from home with uninterupted focus. With the ability to add another 10- 12 hours of work or other activities. Now if I apply the pareto principle or better known as the 80-20 rule which states- "roughly 80% of the effects come from 20% of the causes". I should be able to accomplish everything I need within those 20 hours and create the results I'm looking for without burning myself out.
I hope this helps other stay at home moms wanting be work at home moms (WAHMS) or dads (WAHDS), part time investors/full time employees, grandparents who take care of grandchildren that have lost a major part of their retirement cash in the stock market, and everyone else create an action plan for themselves on how to spend their time the way the choose.
Time is one of the few intangible valuable things we have in limited supply.
Here's to Education, Wealth, and Freedom! - Flower De Raadt
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