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!
I can see you have a lot of irons in the the fire Grinder, but I'm glad to see you're doing well. Be careful of spreading yourself too thin. I have chronically had that problem. Grind on buddy!
ReplyDelete-Bryan
Yah I worry about that myself. I dont want to take on more than I can handle. If things get to crazy maybe I will hire a part time assistant lol, if it makes fiscal sense of course.
DeleteAwesome Milestone AG! 3 Mill. Many more to go :) Glad to see a post and we're sure you are busy. Take care of that family bud. Keep it up AG, keep us posted with the juicy details. Thanks bud and take care.
ReplyDeleteThat Tyler for droppin by and continued support. Enjoy the grind and break from the bc rain lol
DeleteHey dont be sorry, everybody gets busy sometimes and its a good thing. Congrats on surpassing the $3M, thats crazy amount of net worth! Good luck on the brewery, what kind of brewery are you planning to operate? I am a huge beer lover but not a drunkard hahah! I love craft beer IPA in particular, I would love to sample your product when I get the chance.
ReplyDeleteTake care!
Should be a decent sized brewery where they will pump out about 5-8 varities. Pale ale, lager, klosch, IPA. Funny thing is I barely know anything about beer. I invested with people more so than the actual product. We will see where it goes soon enough lol
DeleteImpressive milestone!
ReplyDeleteReally nice round number which you only can be proud of. :-)
Best of luck in the future, I look forward see how everything unfolds.
Best Regards
Dividendfreedom
Thanks buddy. Keep grinding over there!
DeleteYour net worth rocks for sure. I can only dream of getting to that total some day. I can see most of it is from property which is always a fabulous investment. I have one rental property thus far and plan to add to this at some time in the future. Good luck with your future property development
ReplyDeleteI really dont want to be so heavy in real estate right now but its just kind of unfolded this way lately. I eventually want to flip things around with a monster equity portfolio and then use my margin accounts from them to make just a big credit line for building developments.
DeleteYou're killing it Asset-Grinder. Very impressive milestone and it would be very cool to get that brewery open for big time.
ReplyDeleteHopefully in next year or two it really gets moving. The shareholders envision opening more in the future.
DeleteNice going, A-G. Congrats on achieving that milestone....you sure killing it.
ReplyDeleteStay in touch
R2R
Thanks buddy. Keep on keepin on over there
DeleteDon't want to be a downer or take anything away from what you have accomplished (and it is impressive), but I think it is important to remind readers/viewers, and especially new ones, that you had a massive jump in NW due to an inheritance (over $700,000). It is misleading to show a NW of 3 mil without a qualifying statement, that there was a sudden hyper-increase from the family monies. If you subtract out the inheritance (and any increase it has had) you are left with 2.2 mil and this is actually what you have worked hard for and 'grinded' to achieve. So in an attempt to be transparent and fair some, type of mention or footnote on the above monthly summary should be made. IMO.
ReplyDeleteThat month of the inheritance it was clearly noted where the money came from. if you click on that months gains link it will go into further detail. Further more my net worth jumped over 50k not including that inheritance. I appreciate you stropping by.
DeleteAnother inspiring blog post highlighting your various sources of income and net worth. Always fun to read these posts. Look forward to reading more about your dividend buys. I see you have some nice options premiums coming your way too. Thanks for sharing.
ReplyDeleteThanks for droppin by buddy
DeleteAG,
ReplyDeleteI'm just going to pop some popcorn, sit back, and enjoy the AG Show! Great stuff as always and it definitely helps inspire the rest of us!
MDP
likewise buddy
DeleteIt looks like you have a lot on your plate at the moment. It really is a great help to have these put up in a regular chart, so you'll see which ones go to which type of property and so on. Anyway, congratulations on reaching that milestone, and I hope the brewery does well in the future. Cheers!
ReplyDeleteTasha Reeves @ WCMTG
We love the break down this always gives us more motivation!
ReplyDeleteWow, impressive read. Some day I shall catch up to you. :)
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