Summer is fast approaching and that’s just fine and dandy with me; I’m a warm weather guy and looking forward to spending more time out in the sun. So far, this has been a year of transition for me, and I’ve had a lot of time to think about my next moves in life.
Although I can’t ever say that I’ve got everything figured out, I’m going to keep doing my best to continue moving forward in the right direction; financial independence is within reach, and I’ve just got to keep hustlin’!
Here is where my Net Worth stands at the conclusion of April:
Here is a breakdown of assets:
Here is a breakdown of debts:
Cash and Credit Cards
I currently have $7,942.11 stashed away in my checking account ($10,485.92 previously). Cash was down again this month as I transferred funds to my brokerage account and emergency fund.
I owe $306.43 in credit card debt.
I have $41,000 hidden away for a rainy day, or for future investment opportunities.
I owe the following loans:
Rental Property #1: $325,265.71
Rental Property #2: $328,661.58
Rental Property #3: $114,732.98
Rental Property #5: $123,650.30
Rental Property #4 is owned outright and there is no loan associated with it.
Side Hustle Loans
Rental Property #SH 1 (25%): $387,999.38 ($96,999.85)
Rental Property #SH 2 (25%): $386,591.47 ($96,647.87)
Rental Property #SH 3 (50%): $404,495.45 ($202,247.73)
Total: $1,179,086.30 ($395,895.44)
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: $4,883.66
Roth IRA: $61,101.40
Investments are up slightly this month. I used about $10,000 in capital to purchase 50 shares of Celgene (CELG) and 100 shares Starbucks (SBUX).
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
For properties, I will refrain from updating the values each and every month. Instead, I will review and re-assess quarterly, to allow sufficient time for the market prices to stabilize.
My last re-assesment was March 2015. The next property assessment is scheduled for June 2015.
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 $2,207,380.33, an increase from last month ($2,192,745.17). I also owe $1,288,512.44.
Net Worth saw a decent increase this month, but nothing spectacular. We are continuing our slow and steady march to the ever coveted $1,000,000 mark. To get there, I will need the markets to keep cooperating; hopefully we will arrive sometime later this year!
It’s been a wild and crazy ride. Never in my wildest dreams did I ever imagine the possibility of becoming a millionaire at age 30. It just goes to show that hard work, dedication, and a bit of luck along the way really does pay off.
Let’s keep at it; to bigger and better days ahead!
2015 Net Worth Summary:
April 2015: $918,867.89
2014 Net Worth Summary:
2013 Net Worth Summary: