This is the first of probably a few posts as I go through the numbers
General results this year
1. $40,207 total savings (went to Roth, rentals, emergency fund and investment savings) .. still .. wow.. lot to save!
2. $249,882 increase in networth off of last year-mostly from primary home ownership and rentals
3. only $1099 OVER yearly budget for rentals for maintenance/repair and vacancy budget. BUT did lots of long term repair items this year.
4. $31,595 in long term improvement to rentals-includes 2 new roofs, fixing 2 roofs, water fix at that one house, and updating 2 homes and updating 2 3 units
5. $220 DECREASE in negative cash flow over last year on the rentals
6. ABOVE decrease is primarily in 6 homes. 3 units had INCREASED negative cash flow to budget
Will study some more and list accomplishments. trying to diary the journey. this was a big year..
Set some new financial goals to the left
I get my next free and clear house 2/2016
My main goals continue to be to smooth out the rentals, keep my job and have enough cash reserves. there is no leeway in 6 homes/3 units payments and the deal was signed assuming I would NOT have a primary mortgage payment until 2016 or later. That is why things are so much tighter than expected.
Need to rebuild rental emergency fund to $15k asap and considering increasing the personal (lose my job) fund to 4 months which would be $14780. 5 months is $18475
Need to sell this Tahoe
Rescue interested in the cage bank has not been in touch lately and I am thinking they are struggling to get the funds. I put in a call today.
Networth at end of year 2014-interesting results