Posting each month about miniscule net worth updates and half-baked money moves seemed a bit excessive, so instead, let me welcome you to my newly-established quarterly net worth and news update posts!
Continue readingProgress Report
Progress Report #4 | Long Time No See!
Man, if I thought it was a long time since I updated this blog the last time I posted, then it’s definitely been forever this time around.
I’ll keep it short and sweet, mostly because I’m lazy and, as a wise man once said, why waste time say lot word when few word do trick?
Not much has really changed since my last post a little over a year ago. I mean, I graduate with my Bachelor’s that summer, I fell in love, got my heart ripped out, and then somehow managed to fall in love again this time with the person who I’m absolutely confident is my soulmate, but who’s keeping track? Definitely not me. Besides, this is a finance blog. So, let’s talk finance.
Continue readingProgress Report #3 | I’m Officially a (Successful?) Real Estate Investor!!
It’s been a long time since I’ve updated this blog with anything worthwhile, but today I can officially say that I’m a real estate investor! Well, I mean — I could have said that quite some time ago, but, whatever.
Anyway!
So, the rental property that I purchased last year in June — I finally finished the refinance process! As of March 26th, 2019, the personal loan that I took out to purchase the home is paid off and I’ll instead have a nice, low mortgage in its place: a change of $346 to $122 per month! Here are the financial details to break things down on a monthly basis:
Rental Property #1
Rent: $550/mo
PITI: $220/mo
Maintenance Fund: $130/mo
Total Cash Flow: $200/mo
Not a bad deal!
Now I’m working on saving up for my second rental property. I’ve paid off all my credit card debts and the only thing I have left to make monthly payments for (out of my own pocket) is for my car, which should be paid off by the end of the year. Things are moving a lot slower than I’d like, but regardless, I think I’ve managed to put myself in a pretty nice position.
I’m also looking into moving my meager Roth IRA over to M1 Finance instead, which I’ve been using for the past weeks. I really like it. I’ll probably make a post of that in the future.
Lastly, before I make any more major purchases (i.e., another property) I want to save up a small $3,000 safety net. I’ve only got $500 saved up so far, so… yeah, it’s gonna take a little while since my paychecks aren’t exactly the biggest, haha. But hey, that just means I’ll have plenty of time to let my credit recover! Taking out the 19k personal loan to purchase the property, having to get my credit ran to get insurance rates and to refinance the loan, and also opening up an additional credit card caused it to drop from 803 to 750. Yikes.
From here on out, I’m going to keep track of my general financial health in each progress report! I don’t think I’ll include my physical “assets” such as properties, vehicles, etc. since their worth fluctuates a lot. Instead, I’ll include any money that is generated from them!
NP.
Financials | March 2019
Accounts
Savings: $500
Stocks: $188
Retirement: $2818
Income
Employment: $1500/mo*
Rental: $200/mo
Stocks: $0
*I purposely underestimate my monthly employment income due to me taking up to 6 unpaid days off per month for my illness.
Progress Report #2 | Slow Savings
There’s nothing new to report, but since it’s been a month since my last post I figured I should update with something.
So far, my savings have taken a bit of a halt due to recently moving. I need to purchase all new bedroom furniture, plus a desk, so it’s setting me back a good $1000.
…I’m also splurging and building myself the PC that I’ve been putting off for literal years, so make it more like $2000.
Regardless, I’m still putting away $500 minimum into my savings for a property down payment, so that’s good! I’ve got a total of $6,500 saved up so far… Only a $700 difference from my last update post, but oh well!
One of these days I’ll make a post that shows my current breakdown of my income and expenses. You know, once I have a desk to work at, lol.
Why is furniture so expensive?
In the mean time, I’m still working toward investing in Fundrise as well as trying to build that affiliate website… I don’t have much time outside of work, unfortunately, but I’m trying! Haha. Oh, and I’ll definitely make a post about Fundrise when I finally get around to trying it out!
’til next time!
NP.
Progress Report #1 | My First $5,000!
I’ve saved up a total of $5,000.
That’s insane.
To be accurate, I’ve actually saved up $5,800 so far since starting my new job back in later September of 2017. That might not sound like a lot, but to me, it’s quite a hefty chunk of change — plus I was still able to take a nice week-long California vacation!
As I said some time ago in my last post, I’m currently saving up for a down-payment on a multi-family property. I’m thinking about $10,000 to $12,000 should be plenty enough for the price range multi-unit properties go for in my area, so I’ve still got a ways to go. Still, I’m proud to be able to say that I’ve saved so much!
Aside from that, I wanted to make a short post to keep this place updated on what I’ve been up to and where I’m currently at, financially. So I’ll lay it all out in a quick bullet-point list:
- Saved $5,800 towards down-payment for first investment property.
- Opened a Roth IRA at Vanguard with $1,000 to start.
- Set up automatic deposits of $200/mo. from my checking account.
- Got a (very small) raise at work. New salary? $34,050.
That’s it. Nothing to really write home about, but it’s something.
Anyway, while I’m saving up for that down-payment, I’ll be working on two small goals. (1) I’ll be working on building a niche affiliate website to see if I have the knack for it, and (2) I’ll also be saving up a little chunk of $500 so that I can give Fundrise a try.
‘Til next time!
NP
Neurotic Finance 