Sunday, August 30, 2009

Some Minor Challenges and Setbacks - Making Us Stronger

The past few months have been a bit of a challenge for us.

Some of the challenges include:

  • Having my credit score downgraded to the bottom 10% - not because I'd ever been late on a payment (I'd never been late on a payment in my life up to this point) - but because my profile matched many others with real estate holdings that are upside down who've ended up defaulting.
  • Our property management company was shut down (the entity's licence was suspended) by the Arizona department of real estate (due to my unlicensed activity from 4.5 years ago when I first created the company and didn't know what I was doing).
  • My real estate licence has also been suspended, same reasons as mentioned above, but this time affecting my ability to get listings as a business broker (RE licence required to be a business broker).
  • Trying to sell the property management company for less than 1/3 of it's true value in distress (due to the suspended licence issues), only to have the buyers flake out at the last minute.
  • Not being able to get a merchant account setup for our online clothing store, which has been shut down.
  • My one and only credit card (the company) has gone out of business and it's been impossible trying to get credit.
  • The sellers of the technology company we were trying to buy have flaked out on us for the 3rd time in the last 6 months now. They keep chickening out. Apparently another buyer has suddenly come on the scene.
  • The SBA won't approve any loans right now. They're telling us they're declining people with perfect credit and solid businesses - 99% decline rate is what they're saying. My chances of getting an SBA or conventional business loan? Not that good.

Ok - I'll stop with the moan list. Things could certainly be worse. Our designated broker for our property mgmt company told us just a year ago when we first hired her that she has everything in life she could possibly want - spiritually, financially, family, etc. So much has changed in 12 months. Now, their family is really struggling to stay together, they're getting foreclosed on in a the next 9 days, and the car repo guys have been trying to break into their garage to get the cars out - they're behind on everything. I really feel for her and her family. She works her butt off for $9.00 an hour, and it just isn't enough to keep up with the bills. She broke down and cried a few times when we had her and the would-be new-buyers over for dinner this past week.

Our loving bishop has met with us 3 times in the past month to make sure we're doing okay. He asks if there's anything he or the ward can do for us. "Just keep us in your prayers" is all we ask. Fast offerings are meant to sustain life, not lifestyle. We're going to be okay. We have savings and we have 3 month's supply of food storage.

We appreciate all those who've prayed on our behalf. We have no fears. We're actually grateful for this time in our lives. It's brought us closer together and has helped us appreciate the eternal things more - each other, this new little girl that's on her way (any day now!), our covenants, our friends and extended family. How grateful we are for the gospel and the promises extended to us by the Lord.

Today in Priesthood session, one of the councilors in the bishopric quoted some excerpts from this month's Ensign, talking about marriage advice. How funny - he quoted my excerpt and had no idea I was one of the contributing writers.

Some other ideas that were brought up in the meeting, quoted from the book, "His Needs, Her Needs":

Her needs:

Honesty and Openness
Financial Support
Family Commitment

His needs:

Recreational companionship
Attractive spouse
Domestic support

Carly is calling me for dinner so I gotta run.


Tonia said...

Thanks for the updates. We love to hear how you are doing, even during the hard times. You guys sure are going through opposite ends of the spectrum right now. One of the best and exciting times of a marriage: your first child. One of the worst and harder times of a marriage: difficult finances. I'm sure you have to be emotionally spent but I'm so glad you have each other. Let us know when the baby gets here and we will keep you in our prayers.

Lanae said...

Hey guys,

Of course we'll keep you in our prayers. You are both strong and determined people and so this will only make you stronger.

Love you both,