Real Estate - $853,000
Retirement accounts - $202,451
Brokerage - $66,692
Cash equivalence - $16,115
Other - $4,623
Real Estate Mortgages - $415,268
Net Worth: $727,613
It looks like a respectable net worth increase of 1.22% over last month. I'll take it! I did some cash exchanges for debt when I paid off a small mortgage, but other than nothing major changed. Most of the increase can be attributed to increases in stock prices and increase in cash from income and investments.
One possibly positive change in regards to last month's post is that I'm keeping my fingers crossed that they figured out the AC chilled water system problem that was happening in one of my rental properties. I'll see how it pans out for the next couple of months and then I might start paying off that mortgage more vigorously. I'm still reluctant to do this since it increases my financial risk for that unit.
A duplex caught my eye the other day, so I might just start saving up for that or some other type of multifamily unit. Something I've noticed about these units is that it appears to be easier to make money on them versus single family homes. I'm not completely sure why, but from the preliminary numbers it looks like way in general. One thought is that there's a smaller market for these types of units. Individual families don't usually buy them, which would reduce their overall purchase price. Plus they utilize more of the lot and share in construction costs, thus lowering the replacement cost as well. The rental rates seem to hold up as well when compared to individual homes.
More analysis needs to be done and I'll let you know how it goes.