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June 2015 Net Worth Update

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It’s been a long time coming, but the moment has finally arrived… I am pleased to share with readers that as of this month, I am officially (on paper) a member of the millionaire’s club! 🙂

I just came to this realization about 5 minutes ago (once I finished crunching numbers for this month’s Net Worth report)… Right now, it’s way too early to say how I feel about this accomplishment. If anything, it all just feels surreal…

Ultimately, the main objective of this journey is to reach early financial independence. For the most part, we are all just digging our heads into the sand and working hard towards that underlying goal. In the process, we will achieve small victories here and there, and the milestones start to add up.

Well, today I reached a rather BIG milestone (at least in my book). Sure, $1MM doesn’t buy quite what it used to, but it’s still a major accomplishment for many people out there. So, I won’t try and downplay this special moment… There’s still a lot of work to do, but I think it’s important for us to stop every once in awhile and appreciate what we’ve accomplished along the way.

Without further ado, here are the nitty gritty details for this month:

Net Worth

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


Month-Over-Month: (+$97,300.84)

Here is a breakdown of assets:


Here is a breakdown of debts:


Cash and Credit Cards

I currently have $19,682.00 stashed away in my checking account ($27,014.83 previously). Cash decreased this month as I paid down some bills and additional mortgages to give myself some more breathing room.

I owe $0 in credit card debt.

I have $99,311.62 hidden away for a rainy day, or for future investment opportunities. My emergency fund is now sitting at a level that I am very comfortable with, moving forward into the future. Now that I’ve basically secured my baseline target of $100,000, I believe that I will be able to get back into investing in the very near future. Although I still feel like the markets (as a whole) are overvalued, I now feel comfortable enough with my backup plan to allow myself the confidence to proceed forward. I don’t plan on buying any more real estate, but stocks and other commodities will definitely be on my radar again.

Total: $118,993.62

Month-Over-Month: (+$15,988.67)


I owe the following loans:

Rental Property #1: $323,777.71
Rental Property #2: $327,308.48
Rental Property #3: $114,226.27
Rental Property #5: $123,326.73

Total: $888,639.19

Month-Over-Month: (+$2,559.27)

Rental Property #4 is owned outright and there is no loan associated with it.

Side Hustle Loans

Rental Property #SH 1 (25%): $387,490.33 ($96,872.58) 
Rental Property #SH 2 (25%): $385,989.96 ($96,497.49) 
Rental Property #SH 3 (50%): $403,331.26 ($201,665.63) 

Total: $1,177,975.74 ($395,035.70) 

Month-Over-Month: (+$582.09)

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: $4,956.03
401k: $130,755.79
Roth IRA: $60,422.39
Brokerage: $47,641.48

Total: $243,775.69

Month-Over-Month: (-$19,411.62)

Stocks were down this month which dragged down my 401k and Roth IRA investments. Also, I liquidated my stock positions in Coca-Cola (KO) and Toronto-Dominion Bank (TD) this month, transferring the funds back out into my emergency fund.

I am just about done with liquidating stocks… Right now, I only own the following dividend stocks: Norfolk Southern (NSC), Union Pacific (UNP), and Walmart (WMT). I have about $15,000 allocated into these three positions.

Alibaba (BABA) is still my largest individual position… The stock is in the doghouse right now, so I’m holding out for a better opportunity to sell. Now that I’ve been able to build up my emergency fund to a level that I feel secure with (~$100,000), I’m less inclined (than before) to sell. At this moment in time, I’m not in a rush to liquidate. If I do, I would like to transfer the proceeds back into some income producing assets, instead.


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

Rental Property #1: $490,000
Rental Property #2: $490,000
Rental Property #3: $157,500
Rental Property #4: $95,000
Rental Property #5: $180,000

Total: $1,412,500.00

Month-Over-Month: (+$70,000.00)

Properties were reassessed, which explains the large delta experienced this month. In general, I try to be as conservative as possible with my projections. Based on sales comps, Rental Property #1 and Rental Property #2 are probably sitting closer to $510,000. To be on the safe side, I went with $490,000.

For Rental Property #3-5, I elected to stick with the original purchase price. These properties are located in the Midwest, and the neighborhoods I invested in don’t appreciate quite so rapidly as the Bay Area. Again, to err on the side of conservative, I’ve decided it’s best to just stick to the original purchase price.

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 reassessment was June 2015. The next property assessment is scheduled for September 2015.

Side Hustle Properties

Rental Property Side Hustle #1 (25%): $550,000 ($137,500)
Rental Property Side Hustle #2 (25%): $580,000 ($145,000)
Rental Property Side Hustle #3 (50%): $520,000 ($260,000)

Total: $1,570,000.00 ($542,500.00)

Month-Over-Month: (+$27,500)

The side hustle properties were also reassessed this month. The latest comp for Rental Property SH #1 recently sold for $630,000 (the buyer grossly overpaid). Rental Property SH #2 could probably sell for about $650,000 in the current market environment. Lastly, the latest comp for Rental Property SH #3 closed escrow at $560,000.

Using conservative figures, I pegged each of the side hustle properties to what I believe is fair market value (not based on irrational exuberance which some recent comps are clearly based off of).

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 $2,317,769.31, an increase from last month ($2,223,692.26). I also owe $1,283,674.89.

Well, that will do it! In a span of less than 4 years (since we first embarked on the journey to early FI in February of 2012), I’ve gone from owning 0 properties to having an ownership stake in 8 properties. And in the process, I’ve been able to clear a childhood goal of mine by obtaining a net worth of $1,000,000!

I realize that when it comes to early FI, the name of the game is cash flow and NOT net worth. Nevertheless, it’s a great feeling to be able to build up both important parameters to freedom… Besides, an increasing net worth is never a bad thing! If it holds steady, one can always convert net worth to cash flow…

Thanks to the Fed (low interest rates) and Quantitative Easing, I’ve been able to aggressively buy up properties and stocks over the last few years, and snatch up some bargain bin discounts. Since 2012, stocks and real estate have only continued surging, so I was fortunate to be able to ride that wave all the way back up…

In essence, that’s how I built my net worth and became a millionaire… Buy low… and I did sell some stocks “high”. Along the way, I’ll never deny that luck was a HUGE component in my success. For myself, it was definitely much more luck than brains… So, I’m most thankful for good fortune! 🙂

Now that the first million is out of the way, I guess we continue marching on and set our eyes on the next big target — $2MM! 😉

I’m sort of at a loss for words right now, so I will follow up on this post with a less disjointed one next week.

Happy 4th of July everyone! It’s fitting that I will be celebrating this new milestone on Independence Day!


May freedom reign!


Fight On!


2015 Net Worth Summary:

June 2015: $1,034,094.42

May 2015: $936,793.57

April 2015: $918,867.89

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

{ 33 comments… add one }
  • Roadmap2RetireNo Gravatar July 3, 2015, 9:39 am

    A HUGE CONGRATULATIONS! Thats an awesome achievement – you must be ecstatic. Thank you for sharing these details and your journey with us. Heres to the next million…which I hear is much easier 😉


    • FI FighterNo Gravatar July 4, 2015, 9:13 am


      Thanks! It is a great feeling and I feel fortunate to be able to clear this milestone at a relatively young age.

      I do hope the next million comes even easier, although I believe another market bull run would be necessary to help accomplish that.

      We’ll see.. 🙂


  • LeighNo Gravatar July 3, 2015, 11:35 am

    Congrats on your first million! That’s pretty exciting 😀

    • FI FighterNo Gravatar July 4, 2015, 9:14 am


      Thanks! It is an exciting feeling 🙂

      Take care!

  • Jason @ Islands of InvestingNo Gravatar July 3, 2015, 8:44 pm

    Congrats FI Fighter on hitting the million! Funny that you say it was a long time coming, because in the scheme of your entire life, it seems to have happened pretty quickly!

    Hopefully you manage to find the balance enjoying your life, and don’t get too caught up in chasing bigger and bigger numbers 🙂



    • FI FighterNo Gravatar July 4, 2015, 9:16 am


      That’s a good point — In terms of duration, accomplishing this goal has felt both short and long… Overall, it seems like it happened rather quickly, but since I realized it might be a possibility at the beginning of this year… in the short-term the day-to-day has made it feel “long”.

      In the end, I couldn’t be more pleased or excited to knock this item off the bucket list.

      Yup, now it’s on to bigger and better things — more balance in life, fun, laughter, and just outright living 🙂

      Take care!

  • TawcanNo Gravatar July 4, 2015, 1:43 am

    Congrats on hitting the 1 million club on paper. What a great milestone to achieve!

    • FI FighterNo Gravatar July 4, 2015, 9:17 am


      Thanks! It’s a wonderful feeling and now the challenge will be on finding ways to protect the wealth.

      All the best!

  • ErinNo Gravatar July 4, 2015, 5:22 am

    Congratulations! What an awesome accomplishment!
    I enjoy reading your blog and have enjoyed watching your journey.

    • FI FighterNo Gravatar July 4, 2015, 9:18 am


      Thanks! I appreciate the support. It’s been an awesome journey so far and I’m certain the best is yet to come 🙂

      All the best!

  • Dividend HustlerNo Gravatar July 4, 2015, 7:36 am

    Congrats FIF. You’re been a long time coming. Keep it up and never stop. 2nd Million here you come. Enjoy the journey and thank you for sharing my friend. Take care.

    • FI FighterNo Gravatar July 4, 2015, 9:18 am


      Thanks bud! Appreciate the support.

      Here’s to the second million! 🙂

      Best wishes!

  • No Nonsense LandlordNo Gravatar July 4, 2015, 5:41 pm

    Congrats! It’s always a nice feeling to get the 7-figure mark the first time. Even if it is not liquid. It’s sort of like “wow, I am a millionaire”.

    Now go for cash flow and the second million.

    • FI FighterNo Gravatar July 7, 2015, 10:59 am


      Thanks! It is a pretty incredible feeling.

      Yup, now to the next million… The fun never ends 🙂


  • NunoNo Gravatar July 5, 2015, 9:27 am

    Wow! Big milestone achieved! I’m very happy for you. i think 2nd million will come sooner than you expected!

    • FI FighterNo Gravatar July 7, 2015, 11:00 am


      Thanks! Appreciate the support.

      I hope you’re right about that! I’ll have to keep hustling hard to make it happen.

      Take care!

  • CashFlowDiariesNo Gravatar July 6, 2015, 2:36 pm

    “the name of the game is cash flow and NOT net worth”.

    Love that quote! Albeit, generating cash flow normally goes hand in hand with increasing net worth but you’re absolutely right. I plan on retiring from cash flow not my net worth.

    Congrats on the first mil! I hear after your first million, its all comes faster so you should have your 2nd mil in no time 😉

    • FI FighterNo Gravatar July 7, 2015, 11:01 am


      Thanks! I sure hope so… Getting to the first million was pretty challenging, so I really do hope compounding picks up and it gets a bit easier moving forward.

      Yup, cash flow is what will help you reach early FI and retirement. Speaking of which, I’ve got to get back to that and do a better job of increasing it! 🙂

      Take care!

  • FerdiSNo Gravatar July 6, 2015, 4:32 pm

    Congratulations, FI Fighter! That’s a MAJOR achievement! I’m inspired by your large cash holdings and the fact that you’re ready to pounce if and when the stock market drops to a more attractive level! Keep up the good work and enjoy the journey to $2m…


    • FI FighterNo Gravatar July 7, 2015, 11:05 am


      Thanks! Appreciate the support!

      Yeah, it’s somewhat unusual for me to be holding so much cash at the moment, but I’m taking a more defensive stance. Hopefully it works out and I’ll have a great opportunity to deploy it and purchase up some cheap investments in the near future.

      All the best!

  • GGRNo Gravatar July 7, 2015, 10:33 am

    Congratulations on the big milestone! Have been following your blog for a bit now and has definitely motivated me to be FI ASAP. I had a question regarding, how you or where you are able to take out so many mortgages. That is always the biggest issue I see in accumulating properties, unless a bigger and bigger percentage down payment is made. Any help would be great!

    • FI FighterNo Gravatar July 7, 2015, 11:08 am


      Thanks for stopping by! Mortgages are somewhat tricky, but in general, it’s quite easy for a qualified buyer to get to 4.

      Once you get past 4, underwriting guidelines get a bit more strict… You will need 6+ months of reserves for PITI for each property, and sufficient reserves in addition to the downpayment.

      In general, Fannie will let you get 10 conventional loans before you have to search for a portfolio lender.

      The biggest hurdle for most buyers is overcoming debt to income ratio. Most lenders that I’ve worked with will waive rental property debt (if it cash flows!) if you have 2 years of landlord history (2 tax returns showing you are a landlord and own property). If you can overcome debt-to-income, there should be no reason you can’t get up to 10 loans… provided you meet the reserves requirement.

      Hope that helps!

  • SpencerNo Gravatar July 7, 2015, 7:41 pm

    Congrats FIF! Big milestone. Be sure to take time to enjoy it.

  • george puckNo Gravatar July 7, 2015, 8:40 pm

    Congrats on a Mil!! huge accomplishment.

    You are young, I wouldnt worry too much about cash flow as long as the income, property appreciation, rents, cash flow etc are all going up over time.

    One question, in previous posts you have talked about reducing risk and that you thought the housing market especially in California felt like it was in a bit of a bubble. If that is the case, have you thought about selling one or more of your side hustle deals to lock in the profits?

    • FI FighterNo Gravatar July 8, 2015, 7:36 am


      Thanks for the support!

      Good point on cash flow — It’s very important, but as long as you are investing in the right assets, it should only increase and grow over time. Most importantly, buy quality investments.

      Great question — When it comes to California real estate, I’m on the fence. On one hand, I would love to sell and lock in profits. However, since I don’t have a license at this time, the heavy fees/commissions/taxes/etc. would take a huge bite out of any proceeds. Further, if I sell now, I may not be able to get loans in the future… And lastly, I wouldn’t know where to park the money.

      Since the properties all cash flow, or are just about break even, I should be able to get through any rough patches. Rental demand is still fierce out here, so that’s something I would hate to give up.

      Buying homes in the Bay Area is no easy feat, and many people who get priced out never have another opportunity to get back in. I can’t predict the future, but again because the properties cash flow, I’m comfortable with just holding.

      But those paper gains do tempt me to sell…


  • Retire29No Gravatar July 8, 2015, 10:17 am

    Wow, I feel inadequate. I’m not sure I can comment on a millionaire’s blog.

    Just kidding.

    That’s awesome, dude! A cool million, I can’t wait to be able to say that, myself.

    It will be interesting to see if the first million is the hardest.

    This brings to light an important point, though. The path of money is infinitely long–there is no “most you can have.” The path to freedom, though, is finite. Once you achieve total freedom, then you’ve finally hit the promised land. Keep it up!


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