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RSSSeptember 2011 Net Worth Update (-$25,889)
September was a bit of a blood bath for us. A combination of significant stock market declines as well as outstanding acquisition expenses associated with our newest rental property put us in a free fall for the month.
| Assets | Aug-11 | Sep-11 | Change | % |
| Cash & Savings | $ 21,959.35 | $ 19,947.44 | $ (2,011.91) | -9.16% |
| Taxable Brokerage Accts | $ 157,123.53 | $ 147,145.90 | $ (9,977.63) | -6.35% |
| Roth IRAs | $ 75,902.91 | $ 72,440.76 | $ (3,462.15) | -4.56% |
| Pre-tax Retirement Accts | $ 266,158.46 | $ 248,956.48 | $ (17,201.98) | -6.46% |
| Stock Options | $ - | $ - | $ - | |
| ESPP | $ 949.65 | $ 997.03 | $ 47.38 | 4.99% |
| Property #1 - Rental | $ 160,000.00 | $ 160,000.00 | $ - | 0.00% |
| Property #2 - Rental | $ 128,225.00 | $ 128,225.00 | $ - | 0.00% |
| Property #3 - Primary | $ 300,000.00 | $ 300,000.00 | $ - | 0.00% |
| Property #4 - Rental | $ 163,000.00 | $ 163,000.00 | $ - | |
| Receivable (Payable) | $ - | $ - | $ - | |
| Other Assets | $ - | $ - | $ - | |
| Total Assets | $ 1,273,318.90 | $ 1,240,712.61 | $ (32,606.29) | -2.56% |
| Liabilities | ||||
| Credit Card Balances | $ (5,410.58) | $ (1,313.97) | $ 4,096.61 | -75.71% |
| House #1 Mortgages | $ (89,038.70) | $ (86,851.16) | $ 2,187.54 | -2.46% |
| House #2 Mortgages | $ (7,303.91) | $ (7,230.28) | $ 73.63 | -1.01% |
| House #3 Mortgages | $ (252,136.89) | $ (251,777.97) | $ 358.92 | -0.14% |
| House #4 Mortgages | $ (122,250.00) | $ (122,250.00) | $ - | |
| Rental Deposits | $ (5,902.72) | $ (5,902.72) | $ - | 0.00% |
| Additional Tax Liability | $ - | $ - | $ - | |
| Other Liabilities | $ - | |||
| Total Liabilities | $ (482,042.80) | $ (475,326.10) | $ 6,716.70 | -1.39% |
| $2million Goal Progress* | $ 743,412.99 | $ 717,164.48 | $ (26,248.51) | -3.53% |
| Net Worth | $ 791,276.10 | $ 765,386.51 | $ (25,889.59) | -3.27% |
Highlights for September
- We like to take advantage of 0% APR balance transfers earning interest in my savings accounts, but that well has dried up for now. We are actively looking at taking advantage of new credit card additional arbitrage opportunities. Our latest deal got us 200k British Airway miles for $190.
- September is the fourth significantly negative net worth monthly change since Sept 2010. Our losses stem across board from major declines in stock market valuations and aquisition expenses from our rental property. Is there any doubt at this point about whether we are in another (or still in a ) recession?
- Our properties are listed on our balance sheet based on their cost basis, not current market value. I believe real estate is too illiquid to list based on recent sale transactions.
- With real estate prices continuing to fall we purchased another property in one of our rental neighborhoods with a purchase price inline with its 2002 value. We were able to get the house rented out within 3 days of purchase.
- With the market in a free fall we made sold our position in China Fire (CFSG) and made a couple of small investments in September including Genworth (GNW), Bank of America (BAC) and our normal DCA investments.
- Our investment portfolio fared better than our benchmark (VTI) in September (-7.05% vs -7.59%). I'll post additional details of our investment activities in September later this month.
- We deployed $1,750 this month to payoff extra principal on Rental #1's primary mortgage as we continue our focus on eliminating this mortgage to improve our cash flow.
by 2million on
10/03/11
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