May 2014 Net Worth Update (+$17,335)
Highlights for May
- We signed my wife up for our 3rd new credit card promotion opportunity this year. We hope to earn $600 in gift cards after spending $5k over the next 3 months. We are 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 May Zillow property estimates are: $209,220; $135,078; $305,223; and $227,363 (total: $876,884 vs $751,255 on balance sheet).
- I turned over rental #3 this month. I spent about $1,500+ in maintenance and repairs. I was able to get a lease with a new tenant started on June 1st and raised the rent 10%. I had rented the house slightly below market to the previous tenant so this increase gets me back to market rent rates. It is a lot of work to turn over a rental and I worry about the year I have to turn all 3 of our rentals with my hectic schedule. I don't have the time I did before kids to manage these rental activities.
- We spent about $500 in May to make some changes to our garage so there would be a larger parking space for our minivan. I used some Home Depot gift cards that we earned through credit card bonuses to defray the cost of the supplies for the project.
- My wife and I rented a small mountain cabin for 1 week near the Smoky Mountains for about $550 in Early June. We are looking forward to a much needed vacation and "disconnect". We haven't done any traveling since we got back from our China assignment. Although the Smoky Mountains won't be the same as going to Thailand, Vietnam, or Dali, it will be a welcome change from our busy schedule.
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