|Finally relented and purchased a new truck this month. Plan is to sell my old one in the next month so should see cash go back up a bit. I was very resistant to make such a large purchase...always thought of vehicles as the absolute worst "asset" ever. But then I reminded myself...they are still an asset. And yes...they may decline every month but they still allow me to make more money and lead a more productive life. And since we purchase only used, Toyota/Lexus vehicles (which hold a very strong resale value) I can pretty much calculate exactly what they will be worth in 3/5/7 years. It's crazy honestly. So they really aren't a one-time expense (like I have been thinking)...rather they are just a productive asset that is being depleted. For some weird reason once I accepted this it was much easier for me to pull the trigger on purchasing myself a new truck...plus my wife wouldn't relent. :)|
Because of the lack of solid financial deals in the RE world, considering switching to debt pay down strategy. If I apply all the free cashflow dollars we can start with 1 paid off house in 2020 and then pay down 1 more every year. Rent increases would add to this timeframe. Could be mortgage free for our own home and have 8 mortgage free investment properties at age 48.
Projecting for Dec...debt-to-assets = 48.91%
Goals for 2019: 1 - Acquire 10 new rental units. 2 - $11M total real estate sales. 3 - $1M net worth by my 40th birthday.
Legend:"Cash" = all cash less tax reserves "Bonds" = Personal Emergency Fund"Annuities" = Investment Property Savings (minus security deposits)"Other Assets" = Business IOU"Other Real Estate" = Investment Properties (current market values)"Other Mortgage" = Investment Property Mortgages