Numbers

Have spent much of the morning going over the bids, and putting them into a spreadsheet to compare them. This is not easy, as Coastline didn't provide line-by-line item amounts. But seeing where Coastline is providing items and where Herman/Lowe aren't, and seeing how even Herman and Lowe didn't provide apples to apples comparisons, it's looking more and more like Coastline's the one. When I take into account what Herman's bid allows for us vs. what's provided by Coastline, Herman's total "cost" drops from 384K to 376K (still above Coastline); on the other hand, Lowe's total "cost" drops from 412K to around 380K (way above).

I also tallied up what I think our costs are going to be... damn. I figure around 43K for our outside-the-contractor costs (rent, storage, appliances, fixtures)... I hope I'm high (I'm going to have Lisa look over the numbers tonight)... but that would put us at 418K total cost. Like I said: damn.

I also put together a quick spreadsheet of what our assets are... double-damn. Home Eq has 227K available. We have 15K in joint savings, and my privately owned corporation has an additional 8K. I figure after taxes, the current work project will bring in an additional 35K... so we've about 285 to deal with. That's 133K short. Double-freaking-damn.

Dad called earlier and said that the numbers he had crunched earlier in the year for the inheritance... well, it's going to be the inheritance anyway, so we could use it now. If we needed to liquify his stuff this moment, we could get 126K... if we wait to the end of the year, it'll be 142K. So we need to get to the end of the year.

Fred said last night that by the end of the third month, about 65% will be due (followed by another 20% over the course of the next two months, and a final 15% coming in that sixth [final?] month)... If my math is correct, that means we'll need around 243K by the end of September. Our liquidity right now is 250 (and I figure that would NOT grow, as we'll be soon paying two housing payments [the mortgage and the rent] as well as a storage pod [or a self-store facility elsewhere])... so we'd make it... barely. By the end of October, I figure the project money will be in. So between October and November, we'll be short about 35K (and that's NOT EVEN counting purchasing all appliances and fixtures: looks like our plastic will get a workout, and we should be earning hotel and airline points). We don't know for certain on dates and amounts, since Fred didn't provide a date-by-date payment schedule, but I'm thinking/hoping we won't need Dad's stuff until near the end.

Just after I reached that conclusion, Dad called again with new ideas. He said he could give both Lisa and me the IRS limit gift of 11K immediately (though I'm not sure of this... he may have "gifted" us already this year as a part of the time-share we bought with both him and Mom... I'll need to check on this). So (if that's not the case) that would be 22K available immediately. Then he told me about this "private loan" company CircleLending.com. He said that he would lend us the 142 K with a promissory note and everything, with a lein on the house; we would then make interest-only payments until he passes away, then the inheritance would more than pay off the remainder of the loan. It sounds too good to be true... so I'll need to look into that as well. Like I've got time for all this research and getting work stuff (not to mention water polo--practices all week--and baseball--conceivably tournament games all week) done as well... Thank goodness my therapist called and said he's out of town for the rest of the week... that frees up some time on Thursday (thankfully, there's no stress in my life to talk about.... RIGHT).

Now, I just got off the phone with Michael Charon, the lending guy from Coastline; Fred had told him to give us a call. I told him that we've got the financing all lined up through my dad, so we're good to go, and to tell Fred to expect a call tomorrow. Michael said we could call him anytime if we needed to discuss funds (and just to discuss options, not only to use him as a funding source). I'm liking Coastline more and more ... is that desperation talking? I hope not.

Off to get back to work, and to do more research...