Total Net Worth in Jul: $447,868 (+$10,652) – Satisfied, it was a great month!!
Ok….I have been terrible, its been right at a year since I posted my numbers, so yes, this post really is for July of ’16. Over the next few days, I will get caught back up. As you will see my wife and I took on a series of big projects over the last 12 months, and we are just now getting our heads above water.
July’16 was another great month. We paid off our 401K loan (again….yeah, not the most Dave Ramsey like, since we keep using these loans to finance properties), so we got credit for the increase in our 401 account.
We broke thru the $440K level for the first time and have been fortunate enough to be on a 6 month string of those milestones.
Assets: +$170,395K – Big Change!!!
OK…last month we sold a property, this month we bought a property, in this case we bought it with the intent of flipping it. Our first attempt at a flip, stay tuned for more details
Net Cash Accounts: (-$34,993) – Another Big Change…
Our cash went down substantially, but it was for a good reason, we used the cash for a down payment on our first flip.
Net Cash Rental Accounts: +$4,146 – Satisfied…
We put money back into our rental accounts knowing that there will be substantial expenses over the next few months as we work on a major rehab.
Retirement accounts: +$22,917- Satisfied!!
An odd month, we added quite a bit to our retirement accounts this month, but a fair amount of that was because our payback of the 401K loan finally hit our retirement accounts. Overall I will take it.
Liabilities: -$537,516 (-$151,812) – satisfied.
Our liabilities went back up quite a bit this month because we took out a loan to attempt our first flip.