March 2015 Net Worth Update

For this month, I’m going to try and mix up the Net Worth report a little, and hopefully be able to provide readers a more organized and accurate representation of my current financial statement. In general, I don’t place much value in the Net Worth report because as I’ve learned through the years, when you own a lot of real estate, the valuations are extremely subjective. Even amongst professional appraisers, the value of any home can fluctuate greatly…

Previously, I was relying on Zillow’s Zestimate to determine the value of my properties, but as we all know, these valuations are all over the place as well. Overall, I think Zillow is pretty accurate with my Bay Area rentals, but very much off point with my out-of-state properties…

Also, I was previously relying on Mint to organize all my accounts… Mint is a very useful tool, but also very limited when it comes to rearranging manually inputted loans. For the longest time, I could never figure out how to place Rental Property #5’s loan into the ‘Loans’ tab… You know, the most logical place to put it. Instead, Mint would always force the manually inputted loan to appear in the ‘Properties’ tab, which made no sense…

So, starting this month, I’m going to rely on myself to not only valuate my properties, but also to organize all the financial data.

Any feedback from readers will be greatly appreciated!

Net Worth

Here is where my Net Worth stands at the conclusion of March:


Here is a breakdown of assets:


Here is a breakdown of debts:


Cash and Credit Cards

I currently have $10,485.92 stashed away in my checking account ($13,377.41 previously). Cash dipped this month as I spent a bit of money on Rental Property SH #3 renovations. The good news is that the materials have all been purchased and the contractor team paid! Hopefully, we can secure a quality tenant soon and start collecting some desperately needed rent checks.

Starting next month, it will be a RELIEF to no longer have to be swiping my credit card at Home Depot and Lowe’s seemingly every other day…

I owe $223.78 in credit card debt.

Up to this point, I haven’t kept tabs on my Emergency Fund, but for completeness sake, let’s go ahead and include it this month. I have $35,000 hidden away for a rainy day.

Total: $45,262.14


I owe the following loans:

Rental Property #1: $325,758.62
Rental Property #2: $329,109.34
Rental Property #3: $114,732.98
Rental Property #5: $123,811.08

Total: $893,412.02

Both Rental Property #1 and Rental Property #2 debts reflect cash out refinanced loans. Rental Property #4 is owned outright and there is no loan associated with it.

Side Hustle Loans

Rental Property #SH 1 (25%): $388,506.38 ($97,126.60) 
Rental Property #SH 2 (25%): $387,191.13 ($96,797.78) 
Rental Property #SH 3 (50%): $406,000.00 ($203,000.00) 

Total: $1,181,697.51 ($396,924.38) 

My portion of the Side Hustle loans are accounted for above. My partnership stake in each property is shown in the ( ).


I currently own stocks in my taxable brokerage account. My other investments are in 401k and Roth IRA.

Current 401k: $4,787.93
401k: $128,858.73
Roth IRA: $60,440.33
Brokerage: $95,672.26

Total: $289,759.25

Investments are mostly flat this month, as the markets have held stable.


Here are the values of each property, based on my own estimate:

Rental Property #1: $460,000
Rental Property #2: $450,000
Rental Property #3: $157,500
Rental Property #4: $95,000
Rental Property #5: $180,000

Total: $1,342,500.00

This month, a similar comp to Rental Property #1 hit the market at $475,000. Rental Property #2 recently appraised for $440,000, prior to buying season ramping up in the Bay Area. Rental Property #3-5 valuations are the purchase price I paid.

Side Hustle Properties

Rental Property Side Hustle #1 (25%): $520,000 ($130,000)
Rental Property Side Hustle #2 (25%): $560,000 ($140,000)
Rental Property Side Hustle #3 (50%): $490,000 ($245,000)

Total: $1,570,000.00 ($515,000.00)

My portion of the Side Hustle equity is accounted for above. My partnership stake in each property is shown in the ( ).


The total value of all assets now checks in at $2,192,745.17, an increase from last month ($1,669,192.06). I also owe $1,290,560.

Net Worth saw a large spike up this month, due to the new form of accounting that I’m using. The intent, though, is not to artificially inflate the numbers, but rather to provide readers with what I feel is a more accurate representation of my financial situation. With property valuations, I tried to be as objective as possible.

So, whether you accept this new style as GAAP or non-GAAP, please let me know! I sincerely do hope that this new format is easier to follow and a better approach than to what I was previously using.


Fight On!


2015 Net Worth Summary:

March 2015: $902,184.99

February 2015: $771,405.52

January 2015: $785,811.26


2014 Net Worth Summary:

December 2014: $781,996.44

November 2014: $763,680.73

October 2014: $716,124.37

September 2014: $702,618.90

August 2014: $724,476.61

July 2014: $718,780.24

June 2014: $693,514.01

May 2014: $665,115.97

April 2014: $633,456.43

March 2014: $598,435.05

February 2014: $557,154.47

January 2014: $586,137.08


2013 Net Worth Summary:

December 2013: $569,022.97

November 2013: $542,725.46

October 2013: $527,010.49

September 2013: $444,860.79

Print Friendly, PDF & Email
Sharing is Caring:
0 0 vote
Article Rating
Notify of
Newest Most Voted
Inline Feedbacks
View all comments
M from There's Value
5 years ago

I don’t care if it’s just from a new accounting method, it just looks great to see huge spikes in your net worth doesn’t it?!


Adam @
5 years ago

Huge numbers. Congrats.

Dividend Hustler
5 years ago

Awesome FIF. It’s great to see your collection of assets. It’s very motivating and rewarding to do these monthly statements. Keep hustling and enjoy the awesome journey bud. Take care.

Dividend Growth Investor

I agree with DH,

The way you have it organized it more logical, it flows easily and it is very easy to see your total picture.

And I can say you have done really well in building up your net worth. But honestly, if I had over $1M in debt, I would have anxiety every day. Which is why I probably stick to stocks and avoid debt.

Either way, good luck in your investment journey. I wish you to be cash flow positive every month for the next 30 years

5 years ago

Looks great and it’s very impressive to see all your assets listed. You’re definitely building a small empire for yourself. Congrats on having an excellent month.

5 years ago

Just out of curiosity, how are you funding/financing all of your side hustle deals? If you co signed the mortgage and the partnership agreement states you only are responsible for 25% (for example), the bank still sees you responsible for all of it. They will go after everyone regardless of your partnership agreement. If that is the case you may want to factor in worse case scenario and consider all of the debt until the sky clears and it is paid off. Perhaps you took out personal loans and all put in your share (that is what my business partner… Read more »

Debt Hater
5 years ago

Nicely done, you have a huge increase your net worth this month! Even though you changed up your method a bit and like you said the valuation of property can be different from one appraisal to the next, I think if you stick with something consistent you’ll still represent the growth.

5 years ago

That’s a nice pop in your net worth number! Congratulations — your hustles and hard work are starting to pay off. Keep up the good work.


No Nonsense Landlord
5 years ago

Hopefully you went out on eBay and bought some 10% off coupons for Lowe’s. Or already had some…

Happy Frugaler
5 years ago

FI Fighter, It seems a big jump in the Net Worth is valuation methodology change, how comfortable are you that the new methodology is accurate? For the five properties, would it be more reasonable to use either an appraised or assessed value than a personal estimate or cost? Overall, what version of “GAAP” you use is irrelevant, what generally is relevant is consistency of methodology. That is to say that whatever methodology you choose, you continue to maintain that methodology. After all, the change month to month, which is your measure of performance, will be impacted by your methodology choice.… Read more »

No More Waffles
5 years ago


Excellent post, very clear and the information flows nicely.

Building your net worth through rental properties continues to amaze me because housing is extremely expensive in Belgium. Weirdly enough, rental prices are rather low. That’s why a lot of the investment opportunities in real estate I’ve run accross don’t offer anything more than a 2% return every year, even with the low interest rates we’re currently enjoying.

Keep it up, you’re doing great!


[…] FI Fighter @ $902,184 […]


[…] March 2015: $902,184.99 […]


[…] March 2015: $902,184.99 […]