As the old saying goes…
Well nearly everything.
My properties have been going bananas lately and are the main reason for the big bump in my net worth this month.
Lets take a look
Two out of three have gone up in value and one has gone down ever so slightly.
I know gearing cuts both ways, but man oh man when your assets go up it almost feels like cheating. In the last two months my properties have gone up by more than $30K! How long would it take you to add $30K to your net worth? I have literally spent all no more than 3 hours in the last 2 months checking rent and on the phone with the agent etc to keep these assets running. And in turn they have generate over $30K towards my net worth.
This is how real money is made people!
Assets generating you wealth all day every day. Even when you sleep.
I like to think of every dollar in my net worth as little employees going out there earning me more money. It’s an addictive thought. The more you have the more you earn. The more you earn, the more little soldiers you can deploy to the field to bring you more of their wealth building brethren.
But as I’ve mention before…Gearing cuts both ways.
As easy as it was for me to gain $30K, it will equally as easy for me to lose $30K in a market slump or downturn.
But I will continue to enjoy this victory this month and prepare as much as I can for the eventual downturn that occurs in every market sooner or later.
[wp_charts title=”linechart” type=”line” align=”alignleft” width = “100%” datasets=”-36000,-36000, -32000,-7000,20000,32000,45000,65000,83254,130000, 187910, 229010″ labels=”1-Jan-2011,1-Jul-2011,1-Jan-2012,1-Jul-2012,1-Jan-2013,1-Jul-2013,1-Jan-2014,1-Jul-2014,1-Jan-2015,1-Jul-2015,1-Jan-2016,1-Jul-2016″]
|Date||Rolling NetWorth||$ Change||% Change||Notes|
|1-Jan-2012||-$32,000||$4,000||0.00%||Started Full-time work late Nov|
|1-Jan-2013||$20,000||$52,000||0.00%||Built property and recieved FHOG ($21,000)|
|1-Jan-2015||$83,254||$38,254||85.01%||Bought second IP|
|18-Mar-2015||$122,128||-$1,587||-1.28%||Paid for holiday|
|15-Apr-2015||$125,906||$3,778||3.09%||Withdrew equity from property|
|12-Jul-2015||$159,904||$7,000||4.58%||Paid 4K off HECS Debt|
|31-Sep-2015||$170,110||$2,205||1.31%||Car went out of Portfolio, Bought IP 3, Super went up and one IP went up|
|31-Oct-2015||$171,376||$1,265||0.74%||Big bills. Not much saved.|
|30-Nov-2015||$173,263||$1,887||1.10%||Super went down slightly|
|31-Dec-2015||$186,910||$13,648||7.88%||IP went up in value|
|12-Jan-2016||$187,910||$1,000||0.54%||Some big bills|
|1-Mar-2016||$191,410||$1,500||0.79%||Didn’t save very well|
|1-May-2016||$182,410||-$11,000||-5.69%||Two IP’s went down.|
|1-Jun-2016||$211,010||$28,600||15.68%||All 3 IP’s went up and super was updated|
|1-Jul-2016||$229,010||$18,000||8.53%||IP’s revalued with 2 out of three going up|