We were on target to hit $1,000,000 net worth by the end of December with our investments and our new rental property business.
Then we realized we would fall short of our goal by about $30,000 because my mom was ill and my wife and I were spending my time visiting her instead of fixing up rental #3 to get the after-repair valuation jump.
But, serendipitously, a house we had our eyes on for 2 years started dropping in price $10,000 a month. Using all the tricks we had learned about buying houses in the prior year (3 rentals!), we negotiated a price that was $97,000 below appraised value. So, we actually beat our goal by $67,000 despite not fixing up rental #3!
Sometimes you get lucky, and sometimes luck just looks like hard work and paying attention... :)
I'm particularly proud of our financial accomplishments last year. Our net worth - ignoring any stock market gains, just counting the purchases at face value - went up:
$35,000 Rental #1, after repair value increase
$30,000 Rental #2, after repair value increase
$50,000 (2 401Ks with employer matches at 50+ contribution limits)
$36,000 Vanguard stock purchases
$97,000 Main house value - purchase price
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$218,000
Plus our income will go up $9600 a year due to rentals #1 and #2!
This is the really cool part:
Our net worth increased MORE than we received in salaries from our day job!
That's really awesome. Think about that. It boggles my mind. Our net worth increased by 125% of our gross salaries. And that's without counting any stock appreciation or dividends into account. It's just counting $1 of stock I bought or owned at the start of the year as staying valued at $1.
It's absolutely amazing what one can accomplish when one lowers expenses, pays off debts, and then sets to work in a reasonable, workmanlike fashion to increase one's wealth.
I REALLY do not understand why people say our country is broken and that there is no opportunity.