Seems like I'm pissed off at the banks and financial lending institutions a lot these days! I've been jumping through their hoops, dotting their i's and crossing their t's, 'yes-sir'ing' and 'you-bet, sir'ing'...all for noddings, it seems.
I have this brilliant idea, you see.
It's about creating passive income for myself.
Money that comes in without having to go to work, actively or physically, to get it.
Not free money, because it has a great deal of effort, blood, sweat and tears behind the getting of it. Rather, money that comes in to pay the bills and doesn't require my going out to a job to ensure the flow of it.
I want to buy a condo.
Rent them to big companies who spend an inordinate amount of money each year on hotel and motel rooms for their consultants and engineers when they are in the area
I think it is a great idea.
The banks don't.
What do they know?
Well, they think they know what I can afford and what I can't.
Banks seem to have a system of weeding out the inventive and entrepreneurial among us, cutting us off at the pass before we can get up a full head of steam with our dreams and desires, our wishes and our needs.
I don't get it.
I just don't.
I know that I can make enough money required to make the mortgage payments on a condo if the damned condo isn't rented for a few months.
I know it, but the banks don't seem to know it.
My past track record doesn't mean twit to them.
"You just don't make enough money, dear."
How do you know?
I mean, how do you actually KNOW that?
You've not bothered to ask me what I make, never mind deciding this without having all the facts.
The other thing that cranks my handle just a little bit is this:
They want to know more about me and my life than they have a right to know. I mean, who cares whether I am single, married, divorced, living common-law, Irish, Italian, Maltese or deceased? Well ok, deceased, maybe...
What do any of those have to do with my ability to make regular monthly payments that are required to keep myself out of the boogey room with the collection agencies and the foreclosure gods?
If I had seventeen dependant children, three old Irish aunties and a 98 year old Italian godfather living with me, dependant on me for their daily bread, that might be reason for the banks to be concerned. As it is, I don't have another living, breathing entity living in my home with me, or dependant on me for squat.
I just don't get it.
I'd understand if I'd been through a bankruptcy or a foreclosure on my home, but I've not been, and that's a good thing, isn't it?
So, chapter one ends.
I've bitched and crabbed enough for tonight about banks and their infinite ability to get under my skin like a burrowing tick.
Tomorrow, I'm going baack into the fray, up against the big money lending institutions, hoping for one person who gets it that I know what I can and cannot do, what I will and will not be able to handle.
Tomorrow is another day.
Tomorrow is a day of surprises, hopefully.
Tomorrow is also a day of some very dear and very smart people hanging out their hand to help me, going to the wall for me and standing up to the banks for me. I wish it didn't have to be this way. I wanted to do this by myself, all by myself.
Instead, I have asked my friend and money guru for advice, and he's calling back later tomorrow with his wisdom and suggestions for another way around the barracades to financial independence that have been erected in my path to financial security.
Instead, I have also asked my other friend and high-roller investor to help me find a lending institution that believes in my strengths and abilities to handle this new path of real estate investing that I'm heading down in my life.
Instead of independence, I'm learning inter-dependence...learning to lean on friends and ask for their help. Independence comes easy to me, inter-dependence scares the hell out of me, because itr leaves me a little bit more vulnerable and a little bit more at the mercy of the four winds, than it would be if it were only me in this little boat.