Decision-making is hard work. Absolutely wears me out. But I think after two weeks of heavy pondering, driving to Port Angeles, talking about it, thinking about, doing walking meditations about it, I have made a decision.
And whether it's the right one, only time will tell.
As some of you know, Chris and I invested in some properties when the market was booming before the big collapse. One of these is a small house in Port Angeles, an hour west of here. When we bought it, it was rented out and then, after three years, the tenants moved out. That was right when the world caved in, Chris left for Florida to "be a welder" and I was out of a job. The house needed extensive work before it could get re-rented and so it sat. For three more years. Until recently when we were offered a loan modification on the property. A REAL loan mod, reducing the mortgage and making the payment doable and if rented, covered. The big dilemma was whether to take up the loan mod offer - or not. Chris is not interested, and honestly if he was, I wouldn't work with him on it.
So it is up to me.
The notification came two weeks ago with the first payment due now. Last week I drove out there three times, had the locks changed so I could get in, met with the inspectors to make sure everything - electricity and water hookups - were still up to code, checked on prices for a new basin, toilet and costed out getting the tub refinished. And tried to estimate what it would cost to get the really pretty yard cleaned up, interior painted etc., etc.
Last weekend I collapsed, spent the weekend watching netflix and ignoring the world - and not thinking at all. Because my mind was like a buzz saw - one minute I would think - how the hell can I do this? I must be crazy to even consider it. The next, I am thinking - of course I can! Don't know how, but how can I possibly let this opportunity go? I worked so damn hard to buy these places, I must try to keep at least two of them. (I think the Port Townsend condo is a lost cause.) I am working on keeping this house too, another issue all together.
All this thinking and pondering and cogitating has brought me to the decision to bite the bullet, make the first mortgage payment and give myself a bit more time. Although the payment isn't huge in the scheme of things, it will reduce my nut so that I will once again be back to rice and beans. But in the long run, especially with the current forecast of the housing market improving, I think it is the right decision to make.
Today I will make the call and make the first payment. Then consider the next step.
Perhaps the hardest thing of all is the fact I had made the decision to not live here in the Pacific Northwest. In my mind, I had written off two of the properties, the Port Angeles place and the Port Townsend condo. I'd spent 18 months doing paperwork and being persistent to rescue this house here on the water and had a "tenant' in place. Then the upheaval of Chris bolting out of here, leaving the kitties, the loan mod showing up for PA, all brought my plans crashing down around me and I am finding it harder and harder (is it age?) to pick myself up again.
Of course, all this would be a lot easier if I actually had a job!