Wise & Young

Friday, May 04, 2007

I'm Back Bitches!!!!!!!!!!!!!!!!!!!!!

My apologizes for not updating my blog at all. Thanks to all those who emailed me with their concern, but everything is alright. First of all, I got a new job as a proposal writer for an IT company, in DC. This is the first time in my short professional career that I have worked directly with an African-American male. In fact, this is the first time I’m working in an office where everyone is a male and there is only one white male working there. I must admit that I had to deal with my own internal racism that I did not even know was there. But that subsided quickly and I really am cherishing the opportunities given to me to learn not only about how to write a proposal, but also procurements, contracting, and working with the federal government as a contractor. Also my birthday is on Friday, and I will be 25. Unfortunately the only plans so far are to go to the DMV and get a new MD license.
Now, my life would not be complete without some obstacles that were put in my life. The first is that my apartment that I was subletting the management found out b/c the girl who I was subletting to could not keep her mouth shut. Since I was doing it illegally and I didn’t know what I could do, I paid the 400 applications and security fee that she would have to pay in order to start a new lease with management. Also since I broke the terms of my lease by having a sublet, I guess I forfeited my security deposit and the interest that accrued thereof. But that was not the end, so I get a letter from the IRS telling me that I owe them around 2000 in back taxes, let me tell you. That ruined my day and part of my week. Not only because I don’t have 2000 to pay them in one lump sum, but the fact that there are some other things I am trying to do with my money that being 2000 in debt will seriously hinder my ability to do such actions.
After shaking off the fact that I am now lost 2400 dollars in future earnings, I decided that it was time to get back on track with getting my credit score up. I was really excited to see how my credit score had changed because now I had a mortgage and whatnot. So I signed up with myfico score watcher with Experian. Then the other shoe dropped, my score had dropped by over 60 almost 70 points with Experian. When I saw that, I just sat there looking at the screen in utter disbelief. It was only until the screen went dark from being idle did I then try to find out what exactly happened to my credit to make it happen. From what I can tell I got behind on one bill this one private student loan which is about 1100 dollars that I have always had trouble paying because I just forget I have it. So I needless to say the last few weeks have not been the best. It just seems that I am this debt treadmill that I keep shelling out only and nothing seems to ever be making any headway. The one good thing is that I paid my mortgage payment so the next one isn’t due until June 1st.
While all of this is going on, or rather even before, I decided that I am going to make my own corporation. The company will focus on home renovations, home rentals, and a few more things coming down the pipeline. I am fortunate that I have a mom who is already doing what I am trying to do, so she has a wealth of knowledge and support that has proven to be extremely vital. I even shared this information with my father and asked him for seed capital and in January after seeing business plan and answering about 15 of his follow up questions he said he was going to give me the money. Well, that was four months ago, and granted he has kept saying that he was going to send it. I have decided that if I do not hear anything on my birthday about the money, it aint coming. So I have to look into other ways of starting myself off.
Which brings me to the tax sale in Baltimore, as a means of starting to buy homes and to start what I am trying to do, basically the tax sale is when a property has unpaid taxes, water bills, and other city bills that the homeowner has not paid, and in May it goes into a tax sale where bidders bid to own the debt and collect on the debt. If the homeowner does not pay the back taxes, interest, and any legal and title fees then after six months the owner of the tax lien can close the right of redemption and start the foreclosure process on the home. The tax lien foreclosure taxes precedent over any and all other liens on the home. Some people who I have expressed this to have asked how I can do this ethically. While at times I do feel bad about trying to do this, at the same time I feel as though my hands are tied, I have very little money, evidently poor credit, and no partners that I can share the burden of doing this with. So I must use any and all available means to achieve my ultimate goal. The money I plan to use to do this is the mortgage money that I would have paid for May’s mortgage, if I do not win any of the bids on the homes (which are the homes that I am targeting in specific areas) then I will use the money to pay down the IRS bill or the balance on my credit card, or that damn student loan.
On a positive note, for the past three to four weeks I have been going to the gym four-five times per week. I will definitely keep you abreast of the gym “antics” I have seen, and heard. It is a damn fool!

Just my thoughts

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