Good Lord have Mercy - I am STILL in the process of buying the dream. What all has happened you ask? Well, everything... Literally, except the loan.
SO, to answer your "but why" question - remember in my first post, my vulnerability on how I would need 20% down at a minimum? I couldn't figure out a way to achieve the 20% down without, basically, digging my own grave? Remember my goal of 300 mini sessions this year in order to have the down payment? Well, after busting my A Jan-March I started to realize that getting to 300 sessions in a year wasn't likely... The only upside to having the amount I had in my savings, from the sessions I had done, was I could finally put a sun room on the back side of my house. Then I would have a place to sit and meditate after giving up on everything. Or I could go back and visit Amsterdam a few more times.
Amsterdam 2017 I can't write a post without sharing some images <3
Well, although I really still want that sun room - the dream is bigger. After I found the house and realized it was commercial- I headed to the bank! In my mind I would: print every bank statement known to man - I would show my proof of income and proof of my 4 years in a salon suite. But, to my surprise, the banker says to be "You sound like you need an SBA loan.." I've heard this before, however, everything I researched made it out like I would still need the 20% down (literally, it's the only thing holding me back). SO, I say to her, "I don't know anything about SBA." Her response, "me either...So let's call a specialist!" I'm not even a little bit excited as she gets on the phone - More than anything I'm thinking - do I really want a new sunroom? Maybe I should just look for a new house... BUT THEN, she puts Josh on speaker and he asks me two simple questions - "do you have a good credit score?" YES! I do! "Do you have any felonies?" NO, I DON'T! He then replies, "well, I don't see why a 7A loan wouldn't work for you!" I question him with "what if I don't have 20% down?" To which he says... "All you need is 10%, we cover the rest."
SOOOOO- On my way to the bank I prayed. Prayer isn't something I do as much as I once did, but when I do pray I try to really find the words and make it simple. This particular prayer went just like this. "Dear Heavenly Father.... I know I need to give this to you, but I don't want to be because I don't want to be told no, because I really want this and I'm afraid you will say no and so, well, here it is- take it, I'm not saying it again. Amen." Rewind to the night before when Dave and I did the math and I had 15K ready to go! I say to Josh "well, what is 10%??" He then replies, "15K." I squeal, point my finger to the good Lord above - shake my hand with a squint in my eye and respond to Josh "I've got it!" And so the process began... So I thought....
Remember when my banker said she didn't know anything about SBA? Well, she wasn't joking. That day I left her office, called my realtor- made an offer and got all of my paper work together. I went back to my bankers office, we filled out everything and we put in for the loan. When getting an SBA loan it can take up to 3 months. So, we made an offer with contingency on this loan and the seller agreed. My closing date should be the 21st of July.....Back up to 2 weeks ago while at my inspection. Angela (my banker) calls me and says "I need an exact amount for the loan." I say to her "What?? I gave that to you a month and a half ago." She says a few things and in that moment I realize that the process has not even begun. I've done everything needed for this house - in my mind we are in a month and a half with only the same amount of time left before I find out my fate!
Angela apologizes because she thought the same thing, but in reality we did all the paper work incorrectly and I need all of Dave's info, too. (ughhhhhh!!) To sum up the rest because I am so over this story already
:-P - We re-did the paper work, it's being processed as we speak. Hopefully it won't take 3 months to know if I'm approved, but that's the rumor. The inspection went awesome except for the roof- we need a new roof and thankfully the insurance company will be covering that! I picked out shingles yesterday - I asked for a tin roof, but they giggled as they said no :-D. I'm starting to get excited again, but we literally have no idea what will happen with this loan. I've decided that I will continue on with getting a sign created for the studio. I'm hoping this will keep me motivated in the worst case scenario. <3
Favorite image from Amsterdam.