My Net Worth Update May 2015
May 25 / 2015 : Updated every mid month
ASSETS
-Primary Home
2015 assessed value $1,253,000
$500,000 mortgage at 3.35% Equity Total: $753,000
-New Building Lot for new home
Purchased for $560,000
6000 sqft building lot 2015 assessed value Total: $648,700
-Commercial Rental Property
Warehouse 2300 sqft Income Property 2015 assessed value
Total: $319,000
-Residential Rental Property
Rental Home 3200 sqft Income property 2015 assessed value
Total: $667,000
-Start Up Company
Brewery start up share value
Total: $85,000
-Equity Investments
Tax free saving account TFSA - $41,021
Retirement saving plan RSP - $149,554
Canadian margin account - $132,066
US margin account ( Ex Rate 1.23)- $199,145
Equity Total: $521,786
-Cash
Checking account $2,798
Business account $13,387
Total: $16,387
May 2015 Grand Total Net Worth: $3,010,671
Apr. 2015 :$2,998,158 Detail Link +$104,860
Mar. 2015 :$2,893,298 Details Link -$3,307
Feb. 2015 : $2,896,605 Details Link +$725,060
Jan. 2015 : $2,171,545 Details Link +$44,214
Dec. 2014 : $2,127,331 Details Link -$33,547
Nov. 2014 : $2,160,878 Details Link +$49,867
Oct. 2014 : $2,111,011 Details Link - $28,473
Sept. 2014 : $2,139,484 Details Link + $13,390
Aug. 2014: $2,126,094 Details Link + $14,613
July 2014 : $2,111,481 Details Link + $5,584
June 2014 : $2,105,897 Details Link + $3,165
May 2014 : $2,102,732 Details Link
Cracked 3 million which is nice but not too much movement overall. A gain of $12,513 overall due mainly to gains in my stock portfolio and option writing premiums.
I have been very busy with my real estate holdings. I had to switch architects for the home I am building due to them being quite backed up. I am already one month behind where I want to be and got to get things going there.
The brewery has had a soft opening and will do a grand opening next month as they work out small details there. Quite excited to see them actually producing beer, still not bottling yet but should be soon enough.
I have also started a large new project. My cousin is a builder/developer for homes and he is looking to develop in my area. I helped him secure 2 properties where he will be developing houses on each. He gave me the option of going in on the deals where we would build and flip new homes in hot markets. From extensive research and number crunching I calculate potential returns of 20-30% on investment for a time period of minimum 9 to hopefully max 14 months. Minimum investment is 200k. I am thinking of coming in for around 500k total. He is quite experienced and he has been doing well for years. Yes it is risky if real estate markets tank but the projects look like no brainers for me and him. I have not put any money into it yet as I have a couple of months decide as that's when the properties close. If I am going to get in I am going to need some money from somewhere obviously. I think I will sell my warehouse or find a mortgage on my 667k rental home.
Next month I have to pay for property taxes on all my properties which is gonna be a good chunk of change so I anticipate a dip next month
Sorry haven't been too active with the blog lately but things are getting crazy for me. Its been constant property hunting, dealing with my Nephew who is living with us, getting my home fixed up to have it in listing shape and all kinds of other things.
Till the next update Good Day and Grind On!
