Monday, October 23, 2006

Payments on 104 Mortgage Loans

104 checks to write? 104 payment coupons to fill out? 104 envelopes to lick shut, stamp & mail out? Ahhh...it's the middle of the month. Every time the 3rd week of the month rolls around I start the monthly mortgage payment grind.

You see when you manage 140+ single family rental properties, part of Dizmang Properties' complete turn-key management services includes making any monthly mortgage payments on properties that have loans for our Investors.

The monthly mortgage payment grind consists first of making sure that each Investor has a positive account balance. (Yes, some Investors have to "feed" their properties, but they will cash flow in the end). Secondly, I process all payments, make sure the checks are written and mailed off. With so many payments, I have created a "cheat sheet" in an Excel spreadsheet that shows each property under the Owner's heading, the payment amount, mortgage payment amount, loan number. Then there is a check box to check it off for the current month once the payment is made. Of course there is all the proper accounting procedures that go along with posting these payments. It is important that I do start this lengthy process during the 3rd week of each month just in case of glitches. Each payment must be made by the 1st of the month, and if the payment is late, missed and/or not made, it could ruin the Investors credit history (and probably cost me my job). They put a lot of trust in us to fully take care of their properties including making the mortgage payments.

140 homes, 104 loan payments...so looking at it from a positive side, that means that approximately 36+ homes are free and clear and require no mortgage payment. Lucky Investor. :)

Sunday, October 22, 2006

Lovin' What I Do

For the last few years I have always wanted a Honda Pilot. (Yes, there is a little bit of "soccer mom" in me that I would want a practical but yet cute car to haul the family around in...but not enough for a mini-van!).

You know I really didn't think it was going to happen anytime soon, because I wanted to make sure and pay cash for it (I need another payment like I need a hole in the head). Well, the time finally came...I worked hard enough to get a new Honda Pilot! I just got it last Wednesday and it is everything that I thought it would be. Some very close friends (P&B...you know who you are!) knew how much I wanted one and they encouraged/supported me all of the way to getting one. How exciting!

I wouldn't have got this nice car had I not worked so hard in my job. Property Management isn't easy, but the rewards of busting my tail to get it done and get it done right certainly has paid off. Now I can cross this off of my Life's To-Do List! Oh and did I mention...I love rentals!

Thursday, October 12, 2006

FOR RENT in Springfield, MO

Dizmang Properties in Springfield, MO has many available rental properties. If you're looking for affordable, clean rental properties then go to their site.


Sunday, October 08, 2006

All About Dizmang

I have created this blog for the purpose of posting to the (417) Dwellings! blog. You see, I work for Dizmang Properties, Inc. in Springfield, Missouri as the Office Manager for the last 6 years. I assist Paul Dizmang in managing over 140 single family rental homes. Not only have we created an office blog, but we've also created the (417) Dwellings video podcast series which tells people all about the world of real estate and property management. Go to www.getpaul.com to see more about our company.