Another month and another Net Worth update. Despite some expensive hobby purchases, bordering on excessive to drop at once, we still increased our Net Worth by $56,200 in the previous 30 days. That is well ahead of track to be at $2 million by April 2024, but this massive bull market can only last so long. I continue with my goals to move as much after tax savings from equities to real estate as possible.
We have a $122,000 real estate purchase with a tenant already in place that will close mid May. This is on track with the goal of purchasing 3 rental properties by June 2022. This property is the first rental property I’ve purchased that I’ll be using traditional commerical financing. I’ll write a detailed report of how that goes in a future post. For now, onto the updates.
|Real Estate||Value||Monthly Income|
|IA Rental 3818||$130,000||$1,050|
|CO Duplex 1060||$580,000||$1,000|
|Real Estate Total||$710,000||$2,050|
|Tax Advantaged Accounts||Value|
|Tax Advantage Total||$362,700|
|Brokerage Vanguard||$68,500||Moved all single stocks to Real Estate checking|
|Checking||$61,000||BIG spend on Astrophotography this month…..|
|Real Estate Checking||$67,000||(multiple closings soon)|
|Sold business note||$17,000|
|Mortgage CO Duplex||Mortgage||$399,000|
|Business buyout loan||Business||$95,500|
|Total NW April 2021||$1,268,800|
Increase/Decrease single month
April 2021 Goals
- Set ourselves up to max the 529 each year for the next five years. (already done for 2021)
- $2,000,000 NW by April 2024 – Current FI goal date.
- Continue moving after tax investments from apps and into real estate; purchase 3 rentals by June 2022. – Under Contract with 1 property to close in May 2021
- Invest $50,000 additional into CO Duplex in improvements to create a better income property by April 2023.
- Continue to max 457 and 401k until April 2024 – get pre tax to $500,000
Things to note for the coming months of 2021.
- $54,000 going to cabin purchase in May 2021. This will be a hobby/luxury expense and will not count towards the $2mil NW goal as it will be a liability property with additional expenses and will not be monitized.
- Closing on rental property 2625 Mid-May with a mortgage. 20% down at 4.125% for 30 years is just crazy.
- End of May/Early June FireDad’s pension should double as I become vested.