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.


January 2018 Net Worth Update (+$43,834)




Highlights for January

  • January was another incredible month of growth for our net worth growth kicking of 2018 with a nice start.
  • Only a few days into the new year and I had to unexpectedly replace a HVAC system at a rental property for $4,400. That is what our cash/emergency funds are for.
  • For the first time in a long time I got *close* to an overdraft situation in my checking account. My primary mortgage company somehow withdrew my January mortgage payment twice in January and then I had a multitude of Dec bills withdrawing from my account in early December. Its thrown my monthly cash flow cycle of income/payments off for a bit and Im still shuffling money around my cash accounts to re-adjust.
  • Late January we got into vacation planning mode planning a short Spring break trip on the Virginia coast (using hotel points), and a week in the NC Outerbanks during the summer (renting a condo for a week).
  • Our monthly spend still seems high. Its the new normal it seems, and I keep talking about reducing our spending run rate, but no progress. With healthy net worth growth its more palatable for me.


December 2017 Net Worth Update (+$32,893)




Highlights for December

  • December was another good month of growth for our net worth growth bringing 2017 to a close. Our net worth grow over $245k USD in 2017! Its hard to complain about that kind of YoY growth. If the market were to continue like 2017 we'd hit out financial goals in the next 1-2 years.
  • I am in the process of paying off our equity line on House #1 as I received a letter reminding me it matures in July 2018. I sent a check in for $5.5k USD to pay it down and plan to get it paid off in the next month or so.


Last 15 Personal Finance Entries


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)
10/03/2016 | August 2016 Net Worth Update (+$27,077)
10/03/2016 | July 2016 Net Worth Update (+$33,703)

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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