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2MILLION'S PERSONAL FINANCE BLOG



  MY JOURNEY TO FINANCIAL FREEDOM

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AUGUST 2018 NET WORTH UPDATE (+$19,155)










Highlights for August

 * Im posting this several months later and hard to remember what even happened
   in August.
 * We are going to see Hamilton! I was able to land tickets to Hamilton when it
   travels to Durham in November for my wife's birthday. $242 for 2 tickets.
   Pricey, but we are excited to see it.
 * Otherwise August was a pretty quite month. Our daughters start back school in
   July, so our summer ends early.







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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).







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JUNE 2018 NET WORTH UPDATE (+$22,779)










Highlights for June

 * In 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 to acquired by China Oceanwide
   Holdings. This contributed to a nice bump in our taxable stock holdings.
   
 * I received my annual bonus payout from my employer.
 * We spent ~$1,500 on remaining rental costs on our 2 upcoming vacations - a
   condo rental in July at the beach and a family cruise in October.
 * Once the kids were out of school we took a couple days and went up to
   Williamsburg for a quick vacation w/ some friends.
 * We spent ~$1,000 on a replacement fridge for one of our rental properties
   this month.







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MAY 2018 NET WORTH UPDATE ($20,481)










Highlights for May

 * In 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 another rental property, but its a very tough market
   and none of our bids went very far.
 * Our taxable stock holdings (where most of our active investments are) had
   some outsized gains.
 * I spent ~$650 in car repairs & registration fees to fix a fuel sensor so my
   car would pass inspection and I could renew my tags.
   This was our first significant repair for a car we purchased in 2009.
 * Our spending remains elevated and I don't really understand why. We are busy,
   and I recognize that costs more money. Our kids are also engaging in more
   extracurricular activities and that adds up....summer camp, swim lessons,
   club fees, uniforms, sports equipment, gas. At some point I want to focus on
   reducing expenses but not currently my priority these days as long as we feel
   like we are making progress on our overall goals.
 * Otherwise a pretty quiet month.








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APRIL 2018 NET WORTH UPDATE (+$22,946)










Highlights for April

 * April 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 on a cash
   out refinance of our first rental property to put long term financing in
   place for our latest rental purchase (property #5). We locked in on a 5.375%
   30 yr fixed rate (which provided enough credit to cover our closing costs).
   This rate is slightly lower than the 5.5% on our IELOC , insulates us from
   further rate increases, and allows us to get some additional cash freed up
   for future investment opportunities.
 * In the beginning of April we took a Spring Break trip to Williamsburg for 4
   days. We purchased season passes to Busch Gardens for $400 for the family. We
   will plan to go back a couple additional times during the summer to leverage
   them.
 * We sold our baby furniture (crib and changing table). There was a lot of
   emotional attachment, but very proud my wife finally helped make it happen.
   The best part is we were able to sell the furniture for the same price we
   paid for them ($400) so basically got 8 years of use for free.
 * We maxed out our 2017 IRA contributions in April, but found I had a late
   scramble on our 2017 taxes as my wife was able to deduct traditional IRA
   contributions, but I was not. I quickly recharacterized my contributions to
   Roth IRA contributions for 2017.








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LAST 15 PERSONAL FINANCE ENTRIES


05/20/2018 | March 2018 Net Worth Update (+$11,292)
04/07/2018 | February 2018 Net Worth Update (-$47,198)
02/14/2018 | January 2018 Net Worth Update (+$43,834)
02/04/2018 | December 2017 Net Worth Update (+$32,893)
01/15/2018 | November 2017 Net Worth Update (+$31,585)
01/07/2018 | October 2017 Net Worth Update (+$14,082)
10/24/2017 | September 2017 Net Worth Update (+$40,835)
09/05/2017 | August 2017 Net Worth Update (+$3,767)
09/05/2017 | July 2017 Net Worth Update (+$25,312)
07/21/2017 | June 2017 Net Worth Update (+$26,879)
07/21/2017 | May 2017 Net Worth Update(+$12,231)
07/21/2017 | April 2017 Net Worth Update (+$8,354)
07/21/2017 | March 2017 Net Worth Update (+$9,582)
03/08/2017 | February 2017 Net Worth Update (+$32,457)
02/24/2017 | 2016 Passive Income: Dividends



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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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NEW PERSONAL FINANCE ARTICLES

 * August 2018 Net Worth Update (+$19,155)
 * July 2018 Net Worth Update (+$52,101)
 * June 2018 Net Worth Update (+$22,779)
 * May 2018 Net Worth Update ($20,481)
 * April 2018 Net Worth Update (+$22,946)
 * March 2018 Net Worth Update (+$11,292)
 * February 2018 Net Worth Update (-$47,198)
 * January 2018 Net Worth Update (+$43,834)
 * December 2017 Net Worth Update (+$32,893)
 * November 2017 Net Worth Update (+$31,585)




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