March 2014 Net Worth Update (+$14,117)




Highlights for February

  • We are close to finishing up earning $1,000 in credit card signup bonuses for 2 credit card signups w/ spending requirements. Im not spending extra, but focusing our spending on these new cards to earn the bonuses and doing some round trip transactions via Amazon payments.
  • Our properties are listed on our balance sheet based on their cost basis, not current market value. We have done this during the the real estate market highs and lows. I believe real estate is too illiquid to list based on recent sale transactions. For those interested, our March Zillow property estimates are: $214,226; $130,844; $300,002; and $234,647 (total: $879,719 vs $751,255 on balance sheet).
  • Our March net worth growth was about average and largely attributed to paper gains in the stock market.
  • We had a double payment show up on House #2 Mortgage this month
  • We put a new roof on House #2 this month. I got a couple quotes and was to get the roof replaced for $3,300, roughly 1/2 the highest quote provided.
  • In April our net worth will likely take a hit as we are actively looking for a replacement car. I've had my 1998 Nissan Sentra for almost 15 years and it hasn't been running well since we returned from China. I've reached the decision that its time to replace the car rather than repair it.

Related in Net Worth:

September 2014 Net Worth Update (-$14,957) (Oct 07, 2014) Highlights for SeptemberBetween my wife and I we have earned approx $3,000 (in gift cards, points, and miles) through 6 credit card signup bonuses this year. Our credit scores are still hovering around 800, but since we have no...

August 2014 Net Worth Update (+$32,704) (Sep 03, 2014) Highlights for AugustBetween my wife and I we have earned approx $3,000 (in gift cards, points, and miles) through 6 credit card signup bonuses this year. Our credit scores are still hovering around 800, but since we have no...

July 2014 Net Worth Update (-$12,499) (Aug 03, 2014) Highlights for JulyI just signed up for our 4th and 5th new credit card promotion opportunity this year. Since we have no plans to utilize our credit for other financing anytime soon, we plan to make a little money...

Comments (5)


Great job using the Credit cards to get so much in cash bonuses! I am at the $2M mark already, but most is tied up in RE investments.

It never seems like enough though.

Hi,
Firstly, great work, follow your blog diligently :)
I had a question on how you handle the house mortgages under liabilities...
Let me take a fresh example: let's say you buy a new house for 120k with 100k from loan. The house will be listed under the assets as 120k but what about the loan? Say your EMI payments towards the loan are 2k.

Ignore the maths here please, i just took a random bunch of numbers to construct that scenario :P

Thanks!

Mortgage #1 & #2 are looking great!

Not too much longer until they are paid off.

Can you please elaborate on your plans after they are both paid off?

Will you keep them as pure cash flow properties, or refinance to keep some leverage on your balance sheet?

Thanks 2mil!!!

I love how personal you are and actually show us your current progress. Awesome stuff!

why are you trying to pay off rental properties? Can you not claim mortgage interest as expense for taxes? Trying to better understand. thanks.

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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: $1,304,889

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