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:

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...

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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: $1,938,393

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