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:

June 2016 Net Worth update (+7,831) (Jul 10, 2016) Highlights for JuneJune has been a busy month for us, a Carpe Diem kind of month to me. Overall spending has been up as we try to make the most of summer.I handed the keys over to a property...

May 2016 Net Worth Update (+$12,330) (Jul 10, 2016) Highlights for MayOne of my rental properties lease is ending and the tenants are vacating in June. I've wrestled with using a property manager in the past, but have a hard time justify it given the cost. We'll this...

April 2016 Net Worth (+$19,978) (Jun 08, 2016) Highlights for AprilThings settled down in April - not too much activity in the markets, not too many highlights at home.Our properties are listed on our balance sheet based on their cost basis, not current market value. We have...

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.

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


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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A personal finance weblog of my journey to reach my goal of $2 million + the value of my primary residence.
Current Net Worth: $1,465,493


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