May 2016 Net Worth Update (+$12,330)




Highlights for May

  • One 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 time I am going to bite the bullet. The tenants were hard on the house and it needs some serious work to fix up for a re-rent. I don't have the time to manage flipping this rental and everything else so Im going to try out a property manager to see if I can buy back some of my time. If its a positive experience then I might expand to the other properties.
  • 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.
  • I received a small corporate award at work this month that helped boost our cash growth.
  • Im planning a 2 week business trip back to Europe in June and we are discussing cashing in some airline miles to fly my wife out there for a few days at the end of my trip.

Related in Net Worth:

December 2016 Net Worth Update (+$19,452) (Feb 04, 2017) Highlights for DecemberIm far behind with updates on the blog for the past several months. Playing catch-up.We closed 2016 with a nice gain offsetting increased spending. Our net worth rose $170,147 in 2016 still comfortably ahead of our financial...

August 2016 Net Worth Update (+$27,077) (Oct 03, 2016) Highlights for AugustOur net worth hit $1.5M for the first time in August. It took 43 months to growth $500,000 since January 2013 when our net worth first crossed $1M to get here. I signed up for a US...

July 2016 Net Worth Update (+$33,703) (Oct 03, 2016) Highlights for JulyJuly was a much quieter month for us as we returned from our overseas trip from Vienna early in the month and stayed home for the rest of the month.After turning the keys over in June on...

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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: $1,574,185

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