The Entrepreneur Forum | Startups | Entrepreneurship | Starting a Business | Motivation | Success

REAL ESTATE Talk about last-minute

Remove ads while supporting the Unscripted philosophy...become an INSIDER.


New Contributor
Dec 3, 2007
Central Florida
In the spirit of not jinxing the whole situation, I will remain calm, and not be too relieved yet.

I just showed our old house to a person who really wants to rent it. Then I got a call from a realtor that has a client that is interested in renting it. This really is pushing the time table as our mortgage on the house is being paid today...due tomorrow. And yes, this month, our mortgage on the new home was paid as well. :smx4:

I know contentment is relative, but for us, if one of these renters (preferably the latter) jumps on board, a great deal of stress will be lifted off of my shoulders and I will feel much better about things. That's worth being happy about...once it happens. It will give us a bit of breathing room, which is worth more than I ever thought it would be. In my 24 years of inexperience, this is the most financial risk I have dealt with...and it's a trying ordeal for my wife and I. When it's all said and done, I hope that I will have gained some confidence and learned some lessons along the way so that I ultimately gain the courage and momentum to jump into the fast lane one hop at a time.

Now, I understand the premise of the thread in another section about being "afraid of the zeros".

Thanks to everyone again who provided feedback in my initial "What would you do" thread. :thankyousign: Here's hoping.:cheers:


Don't like ads? Remove them while supporting the forum. Subscribe.


Gold Contributor
Read Millionaire Fastlane
Summit Attendee
Speedway Pass
Jul 27, 2007
Washington DC
that is great news. Pay attention to the offer from the realtor. In many cases the agent will ask you to pay for his/her fee for getting you a renter. Find out before signing any contract, so you know what you are getting into.
In any case, great news, very good news.


New Contributor
Dec 3, 2007
Central Florida
As an update for those who contributed to this saga, a tenant has moved in. It was the second one...the one I was hoping to have in there. He is a single guy whose children (2) visit every other weekend and some week days. The guy is very neat and on top of things. His credit is acceptable and he is handy with small repairs. I feel the house will be in order in the event that I need to show it to a potential buyer.

This gives us until October '08 with nothing out-of-pocket.

Let me explain...I realized just now that I neglected to include an important point in my original post. Because we had to move fairly quickly for my wife's job and the market was not favorable, we decided to utilize a "guaranteed rent" option offered by a company here. They act as your realtor on paper and get a commission off of the purchase of your new home (paid by the seller). They use about half of this commission amount to supplement your mortgage payment on the old home. They put your home on the rental market. When the rent is agreed upon, the tenant moves in and pays as usual...this company then sends a check for the remaining portion of the mortgage payment until the "reserve" is exhausted. The more rent paid by tenant, the more time you have without out-of-pocket money. For us, October is the drop-dead date. A little breathing room, but time slows for no one.

Anyway, thanks to all for the advice. I'm sure there will be more to come, since there is a time constraint and not much of a good outlook on the RE market this year.

I am going to attempt to self-promote the house...we removed the listing with our realtor, as she was not working out for us. Poor communication and lack of marketing were making things stressful. I feel that with some effort, I could do better on my own. We shall see.


Create an account or login to comment

You must be a member in order to leave a comment

Create account

Create an account on our community. It's easy!

Log in

Already have an account? Log in here.

Sponsored Offers

  • Sticky
FEATURED! Introducing... WEALTH EXPO$ED, A Short Story By MJ DeMarco
Got it several weeks ago and have listened to it several times now. I've definitely met both...
  • Sticky
MARKETPLACE Fox' Web School's "Legend" Group Coaching Program 2020
For those with the "can web design be Fastlane" question this video by @MJ DeMarco is a great...
  • Sticky
MARKETPLACE You Are One Call Away From Living Your Dream Life - LightHouse’s Accountability Program ⚡
Just got off the phone with @LightHouse. Having just a 45 minute conversation with him has...
  • Sticky
MARKETPLACE Kill Bigger Incubator
@Kak Out of curiosity, what types of businesses are you advising on? (I read this whole thread...
  • Sticky
MARKETPLACE Lex DeVille's - Advanced Freelance Udemy Courses!
Just bought 5 of your Upwork courses. Thanks for making valuable content Lex!
  • Sticky
MARKETPLACE Grow Your Business With a Book (An Unorthodox Marketing Strategy That Built One of the Largest...
Thanks for your offer to look at my book. Here's the link to the squeeze page Buy The Prosperous...

Forum Sponsor


New Topics

Fastlane Insiders

View the forum AD FREE.
Private, unindexed content
Detailed process/execution threads
Monthly conference calls with doers
Ideas needing execution, more!

Join Fastlane Insiders.

Top Bottom