June 2018 Net Worth Update (+$22,779)

Highlights for June

  • In June our activity picked up a bit and we closed with another solid month in the books.
  • Our largest individual stock holding (Genworth) had a breakout month as the US govt (CFUIS) approved the deal for it to acquired by China Oceanwide Holdings. This contributed to a nice bump in our taxable stock holdings.
  • I received my annual bonus payout from my employer.
  • We spent ~$1,500 on remaining rental costs on our 2 upcoming vacations - a condo rental in July at the beach and a family cruise in October.
  • Once the kids were out of school we took a couple days and went up to Williamsburg for a quick vacation w/ some friends.
  • We spent ~$1,000 on a replacement fridge for one of our rental properties this month.

May 2018 Net Worth Update ($20,481)

Highlights for May

  • In May we closed on some long term financing (5.375% 30 yr fixed) for our rentals that we used to pay off our equity line and reloaded our cash for the next acquisition.
  • Ive started looking for another rental property, but its a very tough market and none of our bids went very far.
  • Our taxable stock holdings (where most of our active investments are) had some outsized gains.
  • I spent ~$650 in car repairs & registration fees to fix a fuel sensor so my car would pass inspection and I could renew my tags.
    This was our first significant repair for a car we purchased in 2009.
  • Our spending remains elevated and I don't really understand why. We are busy, and I recognize that costs more money. Our kids are also engaging in more extracurricular activities and that adds up....summer camp, swim lessons, club fees, uniforms, sports equipment, gas. At some point I want to focus on reducing expenses but not currently my priority these days as long as we feel like we are making progress on our overall goals.
  • Otherwise a pretty quiet month.

April 2018 Net Worth Update (+$22,946)

Highlights for April

  • April was a busy month, with positive momentum as much of the month was focused on some long term financing for our new rental.
  • It took us longer than I expected, but for most of April we worked on a cash out refinance of our first rental property to put long term financing in place for our latest rental purchase (property #5). We locked in on a 5.375% 30 yr fixed rate (which provided enough credit to cover our closing costs). This rate is slightly lower than the 5.5% on our IELOC , insulates us from further rate increases, and allows us to get some additional cash freed up for future investment opportunities.
  • In the beginning of April we took a Spring Break trip to Williamsburg for 4 days. We purchased season passes to Busch Gardens for $400 for the family. We will plan to go back a couple additional times during the summer to leverage them.
  • We sold our baby furniture (crib and changing table). There was a lot of emotional attachment, but very proud my wife finally helped make it happen. The best part is we were able to sell the furniture for the same price we paid for them ($400) so basically got 8 years of use for free.
  • We maxed out our 2017 IRA contributions in April, but found I had a late scramble on our 2017 taxes as my wife was able to deduct traditional IRA contributions, but I was not. I quickly recharacterized my contributions to Roth IRA contributions for 2017.

March 2018 Net Worth Update (+$11,292)

Highlights for March

  • It feels a little like I have woken up from a coma and finally taking some action to continue building our net worth! March was an exciting month as I dove back into real estate investing. Its been 8 years since I purchased my last property and it feels good. The stock market continued to slide a little.
  • I purchased our 4th rental, a single-family home for $142,000. The real estate market in our area was surprisingly hot; I made offers on 8 properties and this was the first one I received a counter on. I made a cash offer and quick close (closed within 14 days of offer acceptance). The house is currently rented for $1,250.
  • I purchased the property using our available cash as well as tapping an IELOC (investment line of credit) that we had on an existing rental.
  • I plan to do a cash-out refinance on one of my existing rentals to put long-term financing in place.
  • Also in March I broke my telephone so took the plunge and switched my service from Cricket to Project Fi. I expect my monthly cost will be about the same, but the big advantage for me will be international calling/data when I am traveling abroad. You and I can get a $20 referral credit thru this link when you join Project Fi

February 2018 Net Worth Update (-$47,198)

Highlights for February

  • Finally some sanity kicked in and markets were all over the place in February. Who knows where the markets are headed now, but I still think they are richly valued.
  • Ive started working on my taxes and realized I need to continue to work on my property ladder. Ive got 3 rental properties and now only one with a mortgage, I need to refinance and plan to grow our investments.
  • I snagged a cruise on MSC cruises for us in the Fall when our daughters are out of school. I had been looking for a cruise for awhile and had almost given up on the thought of finding an affordable cruise, but this deal popped up with the kids sailing free (just paying port taxes) in my email one day and I booked it.
  • I also signed up for another Barclays travel plus credit card promotion with a bonus equivalent of a $400 credit for future travel spend. I will plan to use it to offset some of our upcoming cruise costs.

Last 15 Personal Finance Entries

02/14/2018 | January 2018 Net Worth Update (+$43,834)
02/04/2018 | December 2017 Net Worth Update (+$32,893)
01/15/2018 | November 2017 Net Worth Update (+$31,585)
01/07/2018 | October 2017 Net Worth Update (+$14,082)
10/24/2017 | September 2017 Net Worth Update (+$40,835)
09/05/2017 | August 2017 Net Worth Update (+$3,767)
09/05/2017 | July 2017 Net Worth Update (+$25,312)
07/21/2017 | June 2017 Net Worth Update (+$26,879)
07/21/2017 | May 2017 Net Worth Update(+$12,231)
07/21/2017 | April 2017 Net Worth Update (+$8,354)
07/21/2017 | March 2017 Net Worth Update (+$9,582)
03/08/2017 | February 2017 Net Worth Update (+$32,457)
02/24/2017 | 2016 Passive Income: Dividends
02/20/2017 | January 2017 Net Worth Update (+$12,144)
02/04/2017 | December 2016 Net Worth Update (+$19,452)

About 2millionblog.com

A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $1,853,883


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