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Networth and mid year check

May 28th, 2015 at 02:59 pm

Hi all

Networth and mid year check

Met these goals
1. fund ROTH
2. save/investment increase at least $35k (still saving!)
3. 1 roof for 6 homes

also SOLD Tahoe and paid off Genesis

Still trying for these goals
1. make all 6 homes/3 units payment, keep rental emergency fund at $15k, raise rents by $400/month and stay within maintenance/vacancy budget

Picture is net worth.

I feel better and better w this 6 homes inspection. It will allow me to accurately forecast any other major repairs needed.

News on that when I get it set up.

4 Responses to “Networth and mid year check”

  1. AnotherReader Says:

    Now all you have to do is pay off all that debt! You are smart to keep a large emergency fund with the number of units you have. I'm working on rebuilding my reserves after several expensive turnovers and two new roofs in the last six months.

  2. LivingAlmostLarge Says:

    That is an amazing paydown on the six units. It all seems to be running well. Do you think it's always that easy? Could a new investor in real estate do this?

  3. Rachael777 Says:

    Another Reader. How many properties and of what type do you own?
    LivingatLarge. I just spent some time reading your blog. I particularly liked the post going back to 2004 listing income and then retirement and savings. Neat to see the progression. Few answers. It has not been super easy in fact still feeling I am going uphill but yes a new investor can do this too. You appear to live in California and just sold your town home for $700k (made a nice profit too). It is difficult to make it work w rentals in high dollar areas like that. You need to find 'average joe, middle, lower middle class areas' where the numbers work better. Rents do not vary that much across areas but real estate costs do. California has the advantage of being on the top of the loan curve and creative loan options start there then sweep East. You may want to find a local landlord or investor group (there are several) because alot of real estate strategy is local. I wish you luck and feel free to ask questions. On an aside though, you guys appear to be 35-37 and have $250k cash and over $500k retirement savings and then the profit from the house. You are VERY ok to move, have some fun and then figure out what you want to do. Do not stress the small stuff you are doing great and time is on your side. Great job! (and forget where you are moving) but maybe you can use some of that house profit to buy a RENTAL house

  4. AnotherReader Says:

    I own a lot of single family homes, mostly outside of California, where I live. I have been buying for almost twenty years. I am retired (early), but worked in a real estate related field.

    LAL is moving to the West Coast from the suburban Washington DC area. It's close to impossible to buy anything where the numbers make sense in any urban area on the West Coast right now. Too much money chasing too few properties.

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