All Forum Posts by: Vicki Gleitz

I am so excited to watch this. Did the previous owners die?

I think I have an investor for LJ! He has actually loaned to my husband and I before.[ we had spent half a million on trying to help LJ which left us less than broke when we bought the business from Bobbys' dad.

Mark has to talk to his aunt, but he said not to worry about it too much. He wants to wait 3 months,so that lJ and I will have more of a clue what we are doing. That is better than good because, one, we have too much to learn, and two, though LJ is receiving his monthly ssdi [ not ssi] checks there is a backpay complication [ I guess common in cases like my son since he has never worked but is still eligible for ssdi because of survivor disability payments] which may take a few months to clear up.]

Okay, we will have about 20 grand down [plus a few grand for closing costs] and Mark said that he will do an interest only loan for 5 years [6%] at which time he will owe the full amount [we're looking at $30 to 50 grand in addition to the initial 20 thousand. Mark wants to include 5 grand for sprucing the place up and he wants to see whatever property we find in advance, which is also good for us] During those 5 years,apart from paying Mark and insurance and taxes, LJ will be putting an additional $300 into his account every month. He will also have good credit from his secured credit card and passbook savings loan and Renting Kharma renting history. {He will be paying us $200 a month for room and board, technically from my husband who is not his actual legal father] He also will be making a couple of hundred dollars a month from his job and receiving his ssdi checks monthly.

At the end of 5 years, after paying Mark about $18,000 cash, with his good credit, and accrued principal, there should be no problem with LJ getting a loan. Oh,and we figured out that this would be going on the assumption that there would be NO renters [though we do want renters] And if by chance he could not qualify for a loan at that point, there are some family members who could help [ my fingers are crossed that at least Bobby or I are still around, maybe even both. If we are, we could help him at that point.]

Before Bobby and I became ill [ which was years after LJ got sick] we had all been working on a plan with lJ for his future. But we became broke, then we ourselves got sick and put the plan on hold.

Purchasing a rental property is a comparitively small,but integral part of the original plan. You see, we were always told by the 'experts' that LJ would need to eventually be institutionalized. But he is able to do so many things that we were told he could never do. One expert rated his intelligence at "borjugglinderline." Really? How many borderline intellectually disabled people do you know who at 12 years old was doing college level trig and calculus?

But I digress. We have dvr recordings of how sick LJ gets. We were told to make them for legal protection. They are beyond horrifying. The plan[which we forgot about for a few years] was for LJ to be a motivational speaker to encourage others not to give up. About 2 minutes of tapes would be shown [this is the plan] and then lJ would come up on stage, juggling balls or something, and give his motivational speech. We used to practice for hours.

He did not give great practice speeches, but he was 17 years old when I first got sick, and the money was gone etc. and he [we] temporarily gave up on his [our] plan. Also, though not a great speaker and possibly he never will be, he already speaks better than Temple Grandin. In that speech, that he practiced, he spoke of all that he had accomplished in his 23 years [he is 20 now] One accomplishment mentioned in the script was his aquisition of real estate.

At the end of the presentation, the plan was to invite people into the next room for refreshments and to take a look at his motivational cd's and his fantasy adventure trilogy [ we already have an Autistic group who is interested in financing publishing as soon as the last book is completed. He has not written for 3 years though, but I'm sure he'll start up again soon]

In addition to his real estate and other things,LJ will be able to mention his volunteer work [which he has done much already] and his Autistic activism. [ I would not have put together, with my son and husband, the first EVER Autistic retreat that is by and for Autistics, including those with NO money, if there was not the potential for it to reflect positively on my son.]

And yeah, in his speeches he will speak of having to go on ssdi for a few years, but only as a launching point that "brought him where he is today," [and people say Autistics have no imagination. We do. Combine that with obsessive perserveration, and a little bit of faith and things can work out well ]

So, does the deal with Mark sound good?

This is so beautiful. Just a question. After pouring yourself so totally into a house, do you ever get so attached that it i difficult to let it go?

You probably already know this, but just in case...If you are looking for your potential buyers [or yourself] to raise their credit scores so that they can buy,there is a place online called Rental Kharma. People who rent can send in their rental information and it can increase their credit rating. What's even more awesome is that they can [through landlord statements, cancelled checks, etc] register the rents 2 years retroactively.

I'm sorry. First rental purchase.

Quite a few years ago one of our customers offered to loan us money to buy the building our auto repair business is in. It was totally out of the blue, and it turned out to be a wonderful thing, and it was not even a secured loan.He [Mark] brings his vehicles in and tells us that if we ever need any help again to let him know.

Okay, so he loaned us on an unsecured loan. I was thinking of asking Mark if LJ could give him the 20 thousand [or whatever it is] as a down payment on a 60 thousand dollar loan if he would be interested in essentially being our lender at whatever interest rate.

One, would that be rude of me to ask? And also, if it's not, would it be rude of me to ask that something be put in the contract that if something happens to Bobby and me where lJ did not pay for a couple of months after that,[ being too upset to think straight] that there is a certain amount of time for one of his siblings to help him catch -up rather than have the house yanked away. [in Marks contract with Bobby and I, if we had missed a payment, we would have owed the full amount of the loan immediately]

do you think it would be best to approach Mark, or to first see what lJ can bring his credit up to in the next few months and try to obtain a standard bank loan first?

I'm sorry. First rental purchase.

I already created a thread titled "Disabled Son." I did not get much positive feedback,though I am sure that the respondents were all sincere and good people.

To recap [though might help to read original thread] I have a 20 year old disabled son. My husband and I both have some extreme health issues. We thought we had a longer period of time to make sure my son has a reasonably happy life but it no longer looks that way.

My son recently was awarded ssdi [through his deceased fathers earnings]and is waiting for backpay of about 20 grand. He would like to use that as a down payment on a 60 thousand or so rental in Pueblo, CO.

He will be receiving about $850 a month after medicare a month. He also will probably be able to net $250 a month from online sales and a friend that offered him a job for a couple hours a week just helping in whatever way he can.

LJ has NO credit. So, yesterday we sent for a secured credit card[ you borrow your own money] As soon as his back pay arrives we are going to get him a passbook savings loan [meaning once again he will be borrowing his own money.

He has siblings and some of my grandkids who lay floors,paint houses, and do electrical work who would help us refurbish the house. We also have ways to get some supplies at cost. I also just spoke to a friend and if I start doing volunteer work a Habitats' Re-Sell I will be able to purchase incredible bargains.[ I have never volunteered at their stores before but have volunteered with the actual refurbishing]

my son and I are both autistic [ NO that is not his disability. How nice if it were] and I am an autistic activist [usually I capitalize the word Autistic,but I'm not sure you would understand why.

Like I said, the replys I received were not the cheerleading I hoped for.

So, I am issuing my "Ha, Told you SO," 180 day challenge. The first 90 days will involve reading and learning [LJ too, but he's a little quiet] Accumulating money. And somewhere in there teaching you all a little bit about Autistic perseveration.

The second 90 days, I will be following the 90 day challenge to the tee. I will post on this thread [though ask questions on other threads in order to learn] once a week during the initial 90 days,more often thereafter.

You all can give advice and watch this Autistic,spazzy, weird as hell old granny make sure that ALL of her kids get to make their dreams come true.

Oh,and any questions about being Autistic [you might get some Autistic renters someday, so it's good to know about us,right?] I would be glad to answer.

Vicky

I just read a bit on the spendthrift trust. It sounds interesting. I will do more research. I would not want anything in my own name as both my husband and I are likely to have 'malingering" last days and there is a chance that would result in my son having nothing.

I am becoming a fairly well known autistic activist. [ okay, only known at all in the autistic world. please , no Temple Grandin and cows, or Rainman comments] Perhaps some of the autistic people working to build Ocate Cliffs [ a retreat center to be run entirely by autistics that we are helping to build outside of Albuquerque] that I will meet in July would also help with their skills.

When LJ first turned 18, he signed up as an "Avon Dude." We hung around 3,000 books on doors which brought in about 20 customers.and he was bringing in 200 dollars a month from online sales. He quit because kids made fun of him. I think he would no longer have a problem with that. That would be a little more income to help with a loan.

So, with all of these things, can you see our dream being realistic?

LJ has lesions on his thalamus [both sides] which causes his brain to signal to the nerves in his body that they are under acute attack [at his worst he was passing out hundreds of times a day from the pain] He also is high functioning autistic and has profound tourettes but that's kindof like worrying about a paper cut when someone is having a heart attack.

My son has always had big dreams, even before he became ill. Most people with his condition take their own life. I will not take the dream from him.

He is not receiving ssi. He is receiving ssdi based on his late fathers ss record and that LJ was disabled before 22 year of age. He will be receiving 852 a month [after medicare] plus a tiny bit from a tiny job. As soon as he receives "backpay" [for the 2 years he waited for approval] it will probably be about 20 thousand, which he would like to use as down payment on a 50 or 60 or 70 thousand dollar rental in Pueblo.

he has no credit, so we just sent off for a secured credit card [ we pay them $300 and he has $300 of credit. It does not show up different than any credit card to credit reporting agencies.]

Today I spent alot of time researching and read that lenders always want more than one type of credit, and so as soon as his backpay comes, he is going to get a passbook savings loan. As with the credit card, he will be borrowing his own money and will pay it back on time every month, and it will show up as a regular loan on his credit as well.

He is a smart young man. Do you think with the credit card, loan, substantial down payment, guaranteed monthly income, and a tiny job he might be able to qualify in 6 or 8 months? [my sons and grandkids will do the fixing up. Between them we have house painters, an electrician, a floor layer, and connections to get some of the supplies at cost. Plus, being autistic myself, my intention is to research and find out how to fix many things myself. Plus, maybe ask some local churches to donate some manpower if I can, and I can, come up with a win/win deal]

So, any positive comments? Please?

That is gorgeous!