Another month and another Net Worth update! May 2021 was the month of real estate. We had 3 closings this month. After spending months trying to find any deals in real estate and falling flat I finally found the key to success in our current market. Purchase properties from investors that come with leases. Retail buyers don’t even consider these properties that they wouldn’t be able to take possession of for up to 2 years based on a lease.
Our net worth got a large injection by becoming vested in my public employee pension and then 50% of the bump came from investment returns. Who knows when this insane bull market will end, but with 4 rental properties I feel sufficiently more prepared for any downturn than I ever have before.
I’m still toying with the idea of including our vacation cabin in our net worth calculations. It’s a small enough % of our total NW that I really don’t think it matters either way.
|Real Estate||Value||Monthly Income|
|IA Rental 3818||$130,000||$1,050|
|CO Duplex 1060||$580,000||$1,000|
|IA Rental 55th||$125,000||$1,200|
|IA Rental 15th||$155,000||$1,200|
|Real Estate Total||$990,000||$4,450|
|Tax Advantaged Accounts||Value|
|Pension||$55,700||$20k change from becoming vested!|
|Tax Advantage Total||$386,700||$500,000 goal|
|Real Estate Checking||$7,000|
|Sold business note||$17,000|
|Total Cash/Savings||$36,000||Spent over $100,000 on real estate this month!|
|Mortgage CO Duplex||Mortgage||$399,000|
|Business buyout loan||Business||$93,000|
|Mortgage IA 55th||Mortgage||$95,000|
|Mortgage IA 15th||Mortgage||$95,000|
|Total NW May 2021||$1,332,800|
Increase/Decrease single month
May 2021 Goals and reflections
Things to note for the coming months of 2021.