January 2013 Net Worth Update (+$43,105)

We crossed a major financial milestone this month!

Highlights for January

We like to take advantage of 0% APR balance transfers and other credit card offers for free money. We are currently taking advantage of a promotion for a Capital One Spark Business Credit Card that offered a $500 bonus after spending $4,500 within the 1st 3 months and offers 1.5% cash back off all purchases with no annual fee.
We used Amazon payments to boost our spending this month to take advantage of the credit card promotion. As a result we had additional cash (and corresponding credit card liabilities) on our balance sheet this month.
Our properties are listed on our balance sheet based on their cost basis, not current market value. We did this while the real estate market was riding high and we continue to do it now during the slide. I believe real estate is too illiquid to list based on recent sale transactions. For those interested, our Feb Zillow property estimates are: $190,216; $119,582; $292,580 (which recently appraised for $270k); and $227,587.
We crossed that major milestone this month to become millionaires on our balance sheet. Its been a non event for us so far, but it is recognition we are making regular progress towards our financial freedom goal. It has been a 12 year ride for me to reach this point, the majority of it captured in this blog.
We had some unanticipated issues with our home's furnace this month and ultimately purchased a new unit for ~$4k. Wasn't a very timely purchase given we allocated the majority of our cash/emergency fund in our no cost refinance in November, but just a small blip in an otherwise very positive month.
We paid our annual auto insurance premium of ~$1k this month.
In January our investment portfolio rocked! It compared nicely to our benchmark (6.72% vs 5.61%). I'll post our investment report shortly.

Related in Net Worth:

July 2018 Net Worth Update (+$52,101) (Aug 03, 2018) Highlights for JulyI come out of July feeling optimistic all the way around. We had positive developments on numerous fronts including the bottom line.In July we purchased our 5th rental property! The property market is very hot around our...

June 2018 Net Worth Update (+$22,779) (Jul 08, 2018) Highlights for JuneIn 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...

May 2018 Net Worth Update ($20,481) (Jul 04, 2018) Highlights for MayIn 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...

Comments (7)

Congrats!

Posted by jkm1317 | February 4, 2013 12:44 PM

Congratulations! Should take less time to $2M.

Posted by jason | February 4, 2013 4:18 PM

Congrats on reaching 1 million 2million!! This has been a long time coming. Very happy and proud of you!

Posted by Steve | February 4, 2013 7:35 PM

Congratulations!!!, it is very cool when you see the seven figures in excel for the first time.

Posted by Jay @ effumoney | February 5, 2013 9:57 AM

Great accomplishment in only 12 years! It has been fun to watch the progress. Care to make a prediction on how long the next $1 million will take?

Posted by John | February 6, 2013 9:12 PM

Interesting stuff. I was wondering about that Capital One business card bonus for $500. Is it a publicly available offer, and is there an online link to it by chance? Thanks a bunch for publishing your finances like that.

Posted by Max | February 7, 2013 6:47 PM

Congratulations 2million! It has been inspiring following your blog for the past few years.

Posted by OneMillion | February 13, 2013 4:41 AM