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.
Networth and mid year check
May 28th, 2015 at 09:59 pm
May 28th, 2015 at 11:33 pm 1432856008
May 29th, 2015 at 02:23 am 1432866185
May 29th, 2015 at 02:33 pm 1432910003
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
May 29th, 2015 at 02:57 pm 1432911444
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.