September 2014 Net Worth Update

The new job is definitely consuming a lot more of my time than I had anticipated. I will update the first week findings in a separate post, but wow, things are already pretty intense!

My last job was extremely laid back, and I could come and go as I pleased. With the new gig, the pace is a lot faster and the stakes a lot higher… As a person who is striving so hard to reach early FI, perhaps it wasn’t the best move in the world to make! Still, hopefully I’ll be able to grind this out for just a little longer, and get to the end game in tact. The boost in salary/bonuses can’t help but expedite the progress… and help provide a more comfortable margin.

Until that beautiful day arrives, I’ll just have to find creative ways to balance both work and life… and this blog.

Here are the results for September:

Net Worth

According to Mint, my net worth is currently $702,618.90. This represents a decrease of 3.02% from last month ($724,476.61). I’m still using Zillow’s Zestimate to determine the value of my properties.

Screen Shot 2014-10-05 at 7.15.03 PM

Cash

I currently have $7,257.38 stashed away in my checking account ($33,340.95 previously). These are funds I have readily available for investing. Since my investment partners won a second Bay Area side hustle property, these funds have already been allocated towards that downpayment.

While I was away on vacation, the rest of the team members helped me close escrow. As a result, they helped cover my portion of the downpayment (~$30,000), which I still owe. By agreeing to take on a new job (prior to closing), I negotiated a signing bonus of $30,000 (not a coincidence). Since I will be taxed quite a bit on the bonus, I will need to rely on other methods to pay back my downpayment portion.

Luckily, because I am a few months ahead on my mortgage payments for all of my properties, I will forgo payments over the next month or so to help bridge that gap. I hope to have the remaining downpayment balance wiped out before November.

I realize I’m cutting things a bit close here (from a free cash perspective), but these last two side hustle deals have been tremendous opportunities… I simply didn’t want to miss out on them! As a consequence, I am going to struggle in the short-term to make things work. My emergency fund is still in tact, but my investment capital has been completely depleted!

Loans

I owe the following loans:

Rental Property #1: $225,528.56
Rental Property #2: $225,167.53
Rental Property #3: $115,729.48

Total: $566,425.57

Investments

I currently own Alibaba (BABA) stock. My other investments are in 401k and Roth IRA.

401k: $123,273.08
Roth IRA: $56,009.78
Brokerage: $8,916.70

Total: $188,199.56

Investments are down this month for the 401k and Roth IRA. However, the overall value of all investments are up since I allocated $10,000 to purchase 100 shares of Alibaba when it IPO’d earlier in September.

Last month’s investments were valued at $182,469.86. I keep track of my retirement accounts, but the monthly variations and overall performance mean very little at this point in time.

Properties

According to Zillow, here are the values of each property:

Rental Property #1: $409,299.00
Rental Property #2: $465,635.00
Rental Property #3: $139,504.00
Rental Property #4: $90,726.00
Rental Property #5: $138,793.00

The following debts should be listed under the Loans tab, but unfortunately Mint forces manually inputted loans to show up under the Properties tab.

Debt: $6,495.66
Rental Property #4: $63,758.01
Rental Property #5: $125,080.41

Total: $1,073,622.92

Rental properties are all down this month. The Bay Area rentals didn’t move the needle too much, but the out-of-state duplexes in Chicago sure took a massive beating!

Rental Property #3 is down ~$12,000 and Rental Property #5 is down $23,000. Zillow decided to make a giant correction this month. Tracking Zestimate is no less volatile than following Mr. Market on Wall Street, I’m finding…

Summary

The total value of all assets now checks in at $1,464,413.94, a decrease of 2.04% from last month ($1,494,928.81). I also owe $761,795.04.

Overall, the net worth is down this month, but still clearing $700,000. This month’s fluctuation shouldn’t mean much in the big picture, and a slight correction almost seems warranted. As always, come rain or shine, the most important thing is to stick to the plan and keep right on investing!

Thanks to the new job, I should have a lot more firepower to work with moving forward! Stay tuned… Once I pay back my downpayment loan and get everything stabilized, I’ll be on the hunt again for more investment opportunities. This could be for another Bay Area rental property, or some more hyper-growth stock plays.

Fight on!

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Pauline
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That bonus came at the perfect time! It sucks about the hours but once you prove your worth you should have more wiggle room hopefully.
Congrats on the new close. I am down a bit on the markets too but not worried. As the dollar is strong I also converted a bit of currencies hoping it weakens again.

No Nonsense Landlord
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Sometimes you have to take a risk, and deplete the cash just a bit. Just be careful, and know where you can get a solid infusion, if you have to. HELOCs are great, and even a hard money loan. Selling stocks is an option too, if you need it.

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