Achieved $1 Million Net Worth

[AlmostIndependent]

I have been looking into selling one or two of my rental properties and using the cash from the sale to purchase one or two bigger rental properties. I got an estimate for listing prices and estimated sales prices from a realtor that I work with and trust. Apparently, while I wasn't looking, prices for 4-plexes in Anchorage jumped a bit. This new addition to my net worth squarely thrusts me into millionaire status. Here is a quick rundown of my assets/liabilities;

Cash: $25,800
Taxable Investments: $17,300
Retirement Savings: $605,600
Real Estate: $2,160,000

Real Estate Loans: $1,682,500

Net Worth: $1,126,200

[AssetGrinder]

grats on the milestone! That is a lot of real estate debt. I would pay it down a bit more before taking any more debt on personally.

[AlmostIndependent]

grats on the milestone! That is a lot of real estate debt. I would pay it down a bit more before taking any more debt on personally.

I have a little over 22% equity over all of my properties. It is a large number for sure but the properties provide solid income and I can run several units vacant without having to come out of pocket to pay the bills. I'm really very comfortable with the level of debt I'm carrying on the properties.

[Full Beard]

That's pretty impressive!!  Congratulations!  How were you able to amass so much in retirement savings at such a young age?  Are you married and do you and your wife both contribute the max to your retirement accounts?

[defenestrate]

grats on the milestone! That is a lot of real estate debt. I would pay it down a bit more before taking any more debt on personally.

He is roughly 60% leveraged across all of his investments. A little high, but not insane for all the leverage being in real estate.

[usmarine1975]

Congrat's I am working my way to 1 million as well.  I am just over 1/4 of the way there. 

[AlmostIndependent]

Congrat's I am working my way to 1 million as well.  I am just over 1/4 of the way there.

It goes fast. The second $500k happened in just under 4 years.

[soccerluvof4]

With all the shows on the tube these days about buying Alaska, Surviving Alaska ,  Hunting Alaska, etc....you get my picture! I gotta think people are flocking there.  Congrats to you! Side note my older brother has lived up there 30 +/- years and I haven't seen him since. But he posts and sends me a hell of alot of beautiful pictures!