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.

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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: $1,701,144

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