Skip to main content

He Knows the Way that I Take (part 7)

All of them? All SEVEN? How on earth would that be possible? 

Jonathan, my friend Terry’s son, had blown me away with this proposal that I buy seven rental properties all at once. But then explained something called “cash flow” and how that after all was said and done, I would see $2,500 a month in cash to be used for future investments. It sounded like fascinating news, but what he said next was what stopped me in my tiny investment tracks. All you need to put down on these properties is $133,000. So where would I get that kind of money?

I then started to pay attention to the YouTube guys and their instructions about finding the money. One way for me was to seek what was called a HELOC or a Home Equity Line of Credit. Another way was a Home Equity loan. So I began to call around to see when I would borrow on the equity in our house. I called my Credit Union, where I had an account for over forty years. I called Chase, Flagstar bank, and even a local bank in Traveler’s Rest SC, where I knew the manager. All were no-goes because of one thing, our house was NOT our primary residence. To make the loan more secure, banks don't usually lend on rental properties. Or at least that is what they told me at the time. 

I had done an appraisal on our house and discovered that we could probably get around $140,000. I was seeing Seven House Portfolios dancing in my sugar-plum dreams. However, I couldn’t get that six-figure loan. I couldn’t even believe that I wanted to go into debt again. I am nearing retirement, and usually, this is the time in life to become more frugal and not more extravagant. But here I was trying to find the pot-o-gold at the end of the rainbow. 

I had asked God to stop me dead in my tracks if this was not a good idea, and I knew that he could do just that. However, each time that I came to the end of the proverbial road, I seem to think, “Who knows that God isn't testing my faith?”

I had exhausted all of my loan sources. However, then God seemed to open a door, with a thought that came to me. Maybe my property manager Amie might know someone who would be able to get me that loan. BINGO!

Comments

Popular posts from this blog

If this is the kingdom of God, do I really want it?

If this is Kingdom Living, Do I Want it? Matthew 5:3 "Blessed are the poor in spirit, for theirs is the kingdom of heaven. 4 Blessed are those who mourn, for they will be comforted. 5 Blessed are the meek, for they will inherit the earth. 6 Blessed are those who hunger and thirst for righteousness, for they will be filled. 7 Blessed are the merciful, for they will be shown mercy. 8 Blessed are the pure in heart, for they will see God. 9 Blessed are the peacemakers, for they will be called children of God. 10 Blessed are those who are persecuted because of righteousness, for theirs is the kingdom of heaven. 11 "Blessed are you when people insult you, persecute you and falsely say all kinds of evil against you because of me. In a study of the Sermon on the Mount to this point we might be tempted to say, “I don’t want to be that happy!” If this is Kingdom living then I want to go to Disney World. This place is depressing.  What Jesus describes here seems to highlight all of the ...

What? How?

 27 “But to you who are listening, I say:  Love your enemies,  do good to those who hate you, 28  bless those who curse you,  pray for those who mistreat you. 29 If someone slaps you on one cheek,  turn to them the other also. If someone takes your coat,  do not withhold your shirt from them.  30 Give to everyone who asks you, and if anyone takes what belongs to you, do not demand it back.  31 Do to others as you would have them do to you.  32 “If you love those who love you, what credit is that to you? Even sinners love those who love them.  33 And if you do good to those who are good to you, what credit is that to you? Even sinners do that.  34 And if you lend to those from whom you expect repayment, what credit is that to you? Even sinners lend to sinners, expecting to be repaid in full.  35 But love your enemies, do good to them, and lend to them without expecting to get anything back.  Then your reward will be gr...

Don't take him back there!

Abraham has his son Isaac, who was the promised one. He was to be Abraham's heir and the one through whom the blessing would come. Having been a miracle child himself, he had a slight problem. He was now in his early forties and still single. If he didn't find a wife the Abrahamic covenant would never be fulfilled and Jesus would not be born.  It was a crucial moment when Abraham called his servant to swear that he would find a woman for his boy. The oath was binding only if and when the discovered bride came back to Abraham's tent. If she didn't, the deal was off.  We know that she did come back and ended up having twins, Esau and Jacob. However, there is a couple of verses that drew my attention to an important principle for us to think about. Look at 24:6 and 8,  Genesis 24:6 "Make sure that you do not take my son back there," Abraham said. 8 If the woman is unwilling to come back with you, then you will be released from this oath of mine. Only do not take ...