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Archive for September, 2021

I hit $500k

September 9th, 2021 at 02:33 pm

Hi guys

Some random items...

I hit $500k. This is a big milestone for me by the way. So many years had gone by where for the most part most of my money went into the rentals. I still have a job and am funded thru 2023 but am unclear the impact of covid restrictions on that.. and also not sure if I want to work that long at least there. Also have my trusty Suburban which will outlast me. I am striving to hit over $550k for the year.  I would like to hit $750k in savings before I stop so I am working hard to hit big savings milestones each month.   I turn 51 next month. I will not touch any money until at least age 62. I am wondering if I can stop workign so hard and relax some on the big savings milestones each month. I am also single  so if I get married again (which I want to do) my obligations will decrease.

I  am working on getting my financial coaching blog up next week to s build that income stream too.

Rentals continue to do well with the majority of rents reliably showing up by the 9th.

I am deferrng buying more rentals until the prices come down (after the foreclosure waivers expire) and likely in the Fall/Winter.

I had my own house appraised for sale and rental rate. Rental looks like $5000 and sale almost $1MM.. really shocking but the comps and other homes sales near by show it. I have options if I want to move which would be to sell and buy something for less or rent my house for a year or two to gather more appreciation then sell at a higher profit. My mortgage is only $2350 so if I can get rent at $5000.. even taking out 5% and a few hundred for costs (which are less likely as the house is almost new) I can expected to net over $2000  (which should pay for somewhere else) and decrease the mortgage by over $600 a month. I wonder sometimes about a housing crash as it has gone up so fast this past year or two

Have a great day everyone. Just recording to look back at later.