I’m Enfranchised!

Posted on March 5, 2008 by Melissa 
Filed Under Miscellaneous | 8 Comments

C’mon now!Yesterday I cast my vote for the very first time. It was a good feeling wearing that little sticker all day.

I’ve never voted before, mostly due to feeling like it really didn’t matter. Eric was surprised that I hadn’t voted before and insisted that the next election I would be at the polls. It is important to him and I’m glad he encouraged me to drop my apathetic attitude about it.

Apparently I’m not the only one getting revved up this year. Reports say that record numbers of first-time voters are heading to the polls. It’s awesome that people are wanting to get involved.

I now see the value in voting, even if you live in a state that seems permanently aligned to the right or left. Voting allows you to make your voice heard on issues that directly impact your pocketbook. These political leaders will influence policy regarding our major financial concerns; like the economy, health care, and taxes.

Voting for the candidate that you like (or dislike least) is part of being proactive with your finances.

I still have some doubts that my one little vote will change the world, but the simple act of declaring my choice makes me feel more in control of my financial future. Even if the candidate I prefer doesn’t win, voting sure beats doing nothing and allowing everyone else to decide for me.

On a side note - it was really interesting to watch the political ads. It’s the first time I’ve really seen them. Usually the candidates have been decided before the primaries make it to Texas. I had the radio on most of the day yesterday and I think I heard a Clinton or Obama ad every commercial break. They really stepped it up around here.

Did you vote in this year’s primaries? Do you feel voting affects your financial future or do you feel it is a waste of time?

Image Source: Daquella manera

Reducipe – Southwestern Meatloaf

Posted on February 29, 2008 by Melissa 
Filed Under Food, Reducipes | 11 Comments

This ainAhhh, meatloaf. Loved and yet hated by the young and old alike. It’s so good when at its best and so bad when messed up. I think people develop their meatloaf preference early on and their first experiences with the stuff can make or break it.

Many mothers, in an effort to pinch pennies, have thrown together makeshift meatloafs that lack flavor, moisture, and flair. It ruins its reputation.

Meatloaf, when done right, is succulent, moist, hearty, and best of all, cheap eats. It just takes a gentle touch and a fabulous glaze to turn even the most opposed into meatloaf fans.

This recipe is one of my most popular. Everyone loves it and Eric requests it often. I have even served it at an hors d’Oeuvres party by increasing the amount of crumbs and forming meatballs. What a hit!

It’s juicy, tender, and anything but dull. The bold southwestern flavors helped me win first place in a meatloaf cook-off contest a few years ago. It is definitely worth a try, even if you hate meatloaf. It might blow you away.

Southwestern Meatloaf (adapted from a recipe by Alton Brown)

5oz garlic flavored croutons
1 teaspoon chili powder
1 teaspoon dried thyme
1 teaspoon cumin
1/2 teaspoon cayenne
1/2 teaspoon black pepper
1 medium sweet onion, rough chopped
1 large carrot, peeled and rough chopped
1 red bell pepper, seeded and rough chopped
4 cloves garlic, peeled and rough chopped
1 lb ground chuck
2 teaspoons kosher salt
1 egg

Glaze:
1/2 cup ketchup
1-2 tablespoons cumin
2 tablespoons honey
Dash Worcestershire
Dash hot sauce

Preheat the oven at 350 degrees.

Combine the croutons and all spices except salt in a food processor. Pulse until it’s a fine texture. Pour crumbs into a bowl and set aside. Combine the onion, carrot, red bell pepper, and garlic in food processor bowl and finely chop.

Place the hamburger meat in a large bowl. Season with the salt then add the crumbs and vegetable mixture. Add the egg and combine all ingredients thoroughly with your fingers. Avoid squeezing the meat while you do this.

Pack the mixture into a loaf pan, insert a meat thermometer, and place in oven. Prepare the glaze by mixing all ingredients together, adjusting to taste. Brush some of the glaze on the meatloaf after about 10 minutes in the oven. Repeat glazing 20 minutes later.

Cook until the internal temperature reaches 155 degrees. Remove the meatloaf from the oven and let rest until the temperature reaches 160 degrees. Serve hot, with plenty of additional glaze. Serves 6-8.

Notice that I changed up the bowls this time? I’m trying out white plates now. The glaze ingredients are in the mini cups below.

Ingredients for Southwestern Meatloaf

I highly recommend doubling the glaze recipe, I always do. It will be highly requested. This meatloaf is awesome with thick and creamy mashed potatoes. Use the mashers to sop up the extra glaze. Too yummy!

Ingredient Cost Ingredient Cost
Croutons $0.95 Ground Chuck $2.83
Spices $0.10 Egg $0.11
Onion $0.56 Ketchup $0.12
Carrots $0.43 Honey $0.14
Bell Pepper $1.49 Worchestershire N/A
Garlic $0.05    
    Total $6.78 or $0.85 a serving

That’s dirt cheap for such a high-quality meal. ‘Nuff said!

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A Tale Of 3 Applications

Posted on February 28, 2008 by Melissa 
Filed Under Housing, Rental Property | 1 Comment

Only one may hold the key…In our search to find tenants for our rental property we have received 3 applications. Of course, we have had many more visitors and serious inquiries but 3 people actually completed an application and gave their deposits to rent the property. That step is what separates the “serious” from the ready to rent.

These are just summaries that only scratch the surface. Each application and situation was very detailed and required looking at the file as a whole to determine if they were the right fit.

Here are their stories and outcomes:

Application #1 – An extended family down on their luck

It was a family of 5; the mother and father, the daughter and her fiancé in their 20’s, and their baby. The mother and father had low credit scores (low 500’s) and scads of collections but when I saw that the majority of them were medical (she had cancer) I didn’t hold those against them. That sort of situation could happen to any one of us, no matter how well we plan.

Pros:

Cons:

Outcome: They were declined on the recommendation of my management company

It was determined, based on their current financial situation, that they wouldn’t be able to afford the increased rent without additional income or reduction of debt. This is especially a concern since they were taking three possible dependants into the household (the younger couple were living with the fiancé’s parents at the time). The fiancé claimed to have employment but that income could not be proven and therefore, couldn’t be considered.

Application #2 – A couple needing to find a place immediately

This couple was in their 40’s and was in a strange situation. Their landlord lost his job and needed to move back into the home they rented. Our manager spoke to the landlord and confirmed the story. We have no idea what kind of notice they had or the details behind it, but they applied on a Monday and had to move in that Wednesday.

Pros:

Cons:

Outcome: We approved with conditions, they rejected the conditions and withdrew

They had strong incomes so we decided to give them a chance as long as they would agree to pay an increased security deposit (1.5 months rent) and set up direct deposit. We felt the additional deposit would help cover some losses if they stopped paying rent and had to be booted, especially since it appeared that they stopped paying some bills recently. They said they knew they had credit problems but didn’t feel they should be penalized for it and withdrew their application.

It’s definitely for the best. Now I wonder if the story was fabricated in an effort to rush through the application process. There is no way they would have been able to find another home, get processed, and move in less than one day. Something sounds fishy.

Application #3 – Young family moving to town for new jobs

This family was a couple in their 30’s with a toddler and a baby. She is an RN scheduled to start work this month at the new hospital close by. He is a construction manager who was recently laid off but still on severance pay. He is looking for a new job in town.

Pros:

Cons:

Outcome: We approved them with no additional conditions

They are likely short term renters just wanting to get settled in a new town before they find a home of their own. I don’t see anything wrong with short term renters as long as the term is no less than a year. Although her salary alone isn’t enough to cover rent plus their expenses, the money they have in savings will make up for his temporary unemployment. Our area hasn’t been hit with the same decline in new home construction so hopefully he can find a new job in his line of work here.

It looks like we got lucky and snagged a new-to-town family with good scores!

Our manager has drawn up a lease agreement is working with them to get everything finalized. Hopefully it will work out this time and this will be the last application we process for at least 12 months.

If all goes well, we will have had the home on the market just shy of a month before finding a tenant. That isn’t too bad!

Image Source: takacsi75

What Your Landlord Thinks Of You

Posted on February 27, 2008 by Melissa 
Filed Under Housing, Rental Property | 12 Comments

Aw man! I should have asked for a bigger deposit!Well, maybe it’s more of what your landlord thinks of your rental application.

Evaluating applications from renters wanting to lease our old home has given us an interesting look into what landlords value in a tenant. I assumed the optimal tenant would have a good credit score and payment history. I learned that isn’t necessarily true.

I’m going to be blunt and it may seem like what I say is cold.

Keep in mind that I don’t necessarily agree with these criteria and not all landlords use the same guidelines, either. These are not hard and fast rules; just observations I’ve made from my personal experiences so far.

Bad credit can be better.

Low credit means there’s a higher chance that you’re staying put. It’s common for tenants with high scores to lease for a short period of time then leave to buy their own place. They tend to be short-term renters. However, people with low credit scores may have barriers preventing them from buying their own home; perhaps their debt load is too high or they can’t secure a loan. That means it’s possible that they could become a long-term tenant.

The one thing a landlord hates to have is an empty property. Every time a renter moves out he has to start the process of advertising and screening new tenants, which could lead to a month (or longer) of having a property unoccupied. The ideal situation is getting a reliable long-term renter; one who isn’t going to go buy his own place in a year. We were told that large tax liens on a credit report could be a good thing because the applicant won’t qualify to buy a home. Awful, I know, but it’s true.

Late payments are ok, just not on rent.

Our manager says, “people will be late on just about every bill except for one that ensures a roof over their heads.” He has seen it all as far as terrible payment histories, and shrugs it off. He isn’t phased by a credit report full of lates on credit cards, loans, or utilities but he doesn’t want to see late rent payments.

Eric and I were concerned about one app in particular because he had a handful of bills (including child support) that went to collections just last month. Our manager said that he had an excellent history of paying his rent on time and that is what should matter most when evaluating him. It was hard for us to think in those terms, but I understand what he meant. I tend to wonder that if the other bills aren’t getting paid when will the rent be next?

Employment isn’t enough; it needs to be verifiable.

Long-term employment is a great thing in the eyes of a landlord. It’s even better when there are multiple income streams in the household; that means if one person loses their job there is still income coming in. However, if the employment isn’t verifiable in some way, it doesn’t really count.

One application we received had three incomes, all of them claiming they earned $2000 gross a month. Two of them were verified through credit reports and check stubs. The other applicant said he just started working for his father (whom he lived with) and couldn’t provide a check stub. He had no credit history (so no credit report) and no previous employers. We ended up not being able to consider his income because it couldn’t be verified.

He doesn’t care about your criminal history, up to a point.

The past is in the past, unless it’s serious or recent. With one application the resident had a criminal history starting as a juvenile. That would have been ok (all small charges) except that he had a conviction for every year after that, too. It didn’t just stay in his past, and some were repeat offenses. That isn’t a good sign that he is on the straight and narrow, if you get my drift.

Past rental problems are a big red flag.

One of the biggest factors when deciding on whether to approve an app is rental history. When they run your rental history they don’t want to see any evictions on your record. No landlord wants to deal with the hassle of an eviction and careful screening is one way to help avoid risky tenants. Past evictions could indicate a higher risk level and could pose a problem.

Big dogs mean big deposits.

We are total animal lovers and welcome pets in our old home, but when we got an app from some folks who had two 40 lb. puppies we asked for advice from our friend who manages 5 rental properties of his own. He advised us against it and said we should decide on a pet policy right away.

He said big young dogs have done the most damage to his properties in the past, requiring the replacement of doors, woodwork, flooring, fencing, and even the backyard landscaping and grass. He no longer allows dogs over 15 lbs. for that reason. He recommended that we increase the pet deposit to cover the cost of replacing the flooring. The couple didn’t make it through the screening for other reasons though, so we never got to that point.

swirly1.jpg

I thought it might be interesting to share the new perspective we have now that we are landlords. I was shocked to find out that my assumptions were wrong on what things add up to be the best tenant. I also think large scale landlords may differ a little from single home landlords like us. We want someone who is stable and is going to take care of the property while multiple property owners may focus more on simply getting a long-term renter. I think experience plays a role, too.

Every application is different and depending on the situation, some of these factors may be ignored. In fact, we just approved an applicant today that doesn’t fit all of these criteria. I guess we are rebels! Hopefully it will pan out and our property will be occupied in a few weeks!

Image Source: Nick Douglas

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No Longer Alone But Technologically Stranded

Posted on February 26, 2008 by Melissa 
Filed Under Household, Relationships | 8 Comments

Can anybody hear me out there?My cable has been down since early this morning and it feels like I’m all alone without phone, internet, and TV. It’s a good excuse to do some chores though.

We now have one house next door and yesterday it looked like the new neighbors were moving in. When I opened the blinds this morning I noticed they had a cable guy setting up service for them. Apparently, whatever he did to set them up killed our connection and there’s no telling when it will be up again.

I have an “emergency” call in and it could take until 9pm to get someone out here again. Nice. Thank goodness I have a cell phone or I couldn’t have even notified the cable company!

We haven’t met the new neighbors yet but I spent some time making my homemade butter cookies with cream cheese icing for a housewarming gift. Eric and I are hoping to stop by tonight to deliver them and welcome them to the neighborhood. They are our first (and only) neighbors so I think it is important to formally introduce ourselves. Word is that the builder sold all the lots around us so it won’t be long before I’m making more cookies and repeating the ritual.

Do people bring over homemade goodies to new neighbors these days? I’ve never done it myself but I’ve also never owned a home before. When we moved in, nobody at the far end of the street came over to welcome us as the newcomers. Perhaps the meet-and-greet obligation only applies to the neighbors in close proximity, if at all?

Maybe people just don’t interact with their neighbors the way they used to in the old days. Who knows? Either way, it doesn’t bother me too much. I tend to be pretty quiet and keep to myself but I think it would be nice for us to welcome the neighborhood newbies.

Anyway, if the cable isn’t up for 6 hours at a time they will credit you a day. I’m at hour 4 already. If you have extended outages in your service, make sure to call and request that they credit your account. You shouldn’t pay for the time you didn’t have service, especially when it is their fault the outage occurred in the first place.

UPDATE: I now have my connection back! They also credited me for the day. Turns out the cable guy from this morning cut my line (no telling why) and a new guy had a run another one on top of the grass to fix it. Tomorrow they will send out a crew to bury it and hopefully that will be the last of it. I hope the dig crew doesn’t do too much damage to the lawn but I’m glad to be up and running again!

Do you bring goodies over to new neighbors? Do you feel that it’s a dying tradition?

Image Source: C.P. Storm

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