July 2018 Net Worth Update (+$52,101)

Highlights for July

  • I 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 area and it was difficult to successfully agree on a purchase price that I felt would offer us a compelling return. However I feel really good about our successful efforts to aquire 2 additional rental properties this year. We will now shift our focus on rebuilding savings for future purchases. Hopefully it will be a more compelling market when we are ready to expand again.
  • We purchased the property by using available cash and our investment equity line. I intend to pay off the equity line over the next year with future cash flows.
  • In July, I took a new expanded position with my employer. The role is a significant challenge for me and even more intense than my previous role. I'm excited to mix it up and open up the door a bit more for potential success (or failure).
  • I also made a decision in July with my new role that I needed to find a way to better balance my time. Work will be even more demanding. My families' primary concern is that I already sacrifice a lot of family time for work. I made the decision as part of this move to outsource some activities I do myself. I signed up for $20/mo for monthly trash/recycling pickup and found a yard service for $35/visit for grass cut and trimming. This should free up 4-6 hours a month of my time. Im going to give it a try and see how it goes.
    I will say I'm warming up to the idea of taking a couple more things off my plate.
  • We spent the first week of July on a beach vacation in Atlantic beach. We had previously paid for the condo and had minimal costs while on vacation (other than a couple dinners out).

Related in Net Worth:

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...

April 2018 Net Worth Update (+$22,946) (May 20, 2018) Highlights for AprilApril was a busy month, with positive momentum as much of the month was focused on some long term financing for our new rental.It took us longer than I expected, but for most of April we worked...

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About 2millionblog.com

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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