Bellevue
Cliff Pape
Blake
mshultin
BenThe Turning Point - I Am Not Facing Foreclosure!
Wow.
I can’t even begin to describe the sheer awesomeness of the past two days. Yesterday was a turning point, I can feel it. It was the day I’ve been working so hard to achieve, and I hope it can be my turning point. I still have an incredibly long and difficult road ahead, but days like yesterday make me think I have a shot.
Here’s What Happened
- I Made my biggest sale ever to kick off our new Plan “B” project at my office. The Sale was 4 times bigger than any one I’ve ever had. The client I signed is also the perfect client to help launch this new division at my office.
- I found out the buyer agreed to cover more costs in the short sale of my house. I signed the short sale papers today. A big chunk of my original $334K in unsecured debt is now gone.
- It looks like I have a decent shot @ winning the Bloghunt Contest at DebtCC
- I got offered a part-time contract writing gig @ Lending Club, this could provide the income I need to live outside my office.
- I rewarded myself with a frosty/large fry combo from Wendy’s (It’s an amazing hot/cold + sweet/salty combo. Try it sometime)
Like I said, It was a very good day yesterday.
What Now?
I’m spending some time today at the office, and then back to the house to finish last minute goodwill runs and cleanup. I think possession of the house will transfer tomorrow, so tonight will be my last in the home. I have my layout all setup to move into the office, and to anyone looking in, nothing will look different at all due to the layout of my office.
What’s Ahead?
Short Term - Move into office. Prepare all paperwork for bankruptcy filing. Continue new projects at my office.
Medium Term - Find a permanent place to live (not in the office), Grow my business to 20K in monthly revenue (currently just over 7K), finish any and all bankruptcy issues
Longer Term - Pay down the aprox 307K in debt I still have left, including the 147K that I owe my mother.
Why do I want to be debt free so bad?
Women.
I’m serious. I haven’t had a girlfriend in years, and it’s very difficult to be open and honest and meet new women when you are 24, living in your office, and 300K in debt. So all this whole debt mess needs to get taken care of ASAP.
Plus, debt sucks. It makes you do stuff like lie to your friends.
But I really do want to get married someday!
I'm 300K in debt. Gulp. I'm 24 and day traded away a fortune. Now I'm trying to crawl back to zero. Why not subscribe to my RSS feed and join me on this journey. You can also subscribe via e-mail. I appreciate tips and feedback! ~ DebtKid
on June 28th, 2007 at 1:12 pm
Very nice! Glad to see that your very occasional rewards to yourself cost all of, what, $3? A good contrast with others in not-so-great situations…
Doesn’t a big sale feel great? Nothing like it. Good luck with plans B and C.
This whole thing will build great character. Chicks will be flocking to you when you’re ready. (And hitting the gym as much as you do certainly doesn’t hurt…)
Good to hear it all. Keep up the good work!
on June 28th, 2007 at 1:46 pm
This is what happens when you do the right thing. Keep up your momentum it will all work perfect!
on June 28th, 2007 at 2:39 pm
Good that you have sweet dealz.. bu no sweet arbitraage in 60% return hedge funds? what no trip to australia?
No no no… the REAL entrapaneur moves into his office and rewards himself with fast food (that is a good treat though)
Good things are coming!!!
You got an honorable mention on one of the Haterzcast a couple weeks ago.
on June 28th, 2007 at 3:06 pm
Many congrats DK, I am very happy for you and know that you have what it takes to make it. Have you ever been to http://www.greatday.com ? sometimes it helps to get the mind going. anyway.. MUCHO CONGRATS!!!
on June 28th, 2007 at 3:09 pm
I love the Wendy’s thing too! I knew you were a good egg
on June 28th, 2007 at 3:57 pm
Speaking as a mom of daughters, one of whom is roughly your age, I’d be really happy if someday my daughters married a guy who was as determined as you to make his life better. I’m happy for you about the way things are going lately, good job!
on June 28th, 2007 at 4:23 pm
Congrats to your good fortune with Plan B and with making more money on the short sale.
That being said, live in your office for as long as you possible can, and then some. As soon as you move out of it, you’ll be facing expenses you can’t afford. Plus, you can take whatever money you’d put towards an apartment and stick it in an investment that is higher yield than the interest you have to pay off (maybe making your own loan on that debt site you mentioned in an earlier post).
Anyway, professionals probably know more than me, but as a woman who sees friends in debt ALL the time, I totally recommend you stay put in your office until you’re back in the black. Or stay in an occasional hostel, if necessity prevails.
God luck, dude.
on June 28th, 2007 at 7:33 pm
That’s so great you had such a great day! I hope you have many, many more in the future!
Barbara
on June 28th, 2007 at 8:49 pm
Good for you! That’s an awesome feeling isn’t it? You will still have some ups and downs, but if you keep working at it like you are, you will make it. When you have days that you feel like giving up, remember how you feel now and “just keep swimming”.
on June 28th, 2007 at 9:12 pm
Nice comment over there on IAFF
I think there’s a general consensus that you are the anticasey
on June 28th, 2007 at 10:07 pm
Great! Look forward to seeing what you have to write for Lending Club. Good luck with everything.
on June 28th, 2007 at 10:17 pm
OK, I’m in my office. Everything is moved, I’m staying here tonight and into the foreseeable future. Wow.
I’m not quite relieved yet, even though the house is all done with. I think once I get my new home cleaned up tonite, I will feel better.
My employees are taking the day off tomorrow, so I will have the place to myself to work and get a good system in place of how this is gonna work.
Also, the short transaction has a few good stories in it. My real estate agnet was a godsend. The guy even kicked in a grand at the last minute from his commission to close the deal so I wouldn’t have to come up with anything.
Thank you everyone for the comments, I still have a long, long way to go, but this was big first step.
on June 29th, 2007 at 8:54 am
Sounds like you are on your way. Congratulations. Life is a series of steps. You’re still young and moving in the right direction.
on June 29th, 2007 at 11:21 am
Inspiring. Your work ethic is admirable. I’ve set some targets myself as a result. If I have half of your focus, I too will get through my challenges. Tough one as I’m negotiating with a main creditor and they’re questioning some of my spending - i.e. it was a matched funding deal we got. I had to borrow £10K from my brother quickly, then remortgaged and paid him back. Looks like (and it’s possible with UK law) they may be able to claim that back from my brother. Bit of a downer, but when you see successes like this, give you hope. Please keep it up!
on June 29th, 2007 at 2:30 pm
This all looks great! It’s so inspiring to see how you are working your way out of this situation.
on June 30th, 2007 at 8:06 am
Awww, you’re so darned adorable sometimes.
on July 2nd, 2007 at 5:21 am
Hey good luck! This is promising that the short sale is going through.
on April 12th, 2008 at 1:59 pm
[…] money was desperately needed. In fact the day I found out I got the gig, I wrote this post about it being part of a turning point in my whole […]