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Not too much to report as my net worth took a hit with the crypto price but offset by income from contracting. Was at c. $355k end of July.
Still, having that networth compared to the rest of us is an impressive feat.Not too much to report as my net worth took a hit with the crypto price but offset by income from contracting. Was at c. $355k end of July.
I have a lot to look forward to. I fully expected to be out of work for the rest of the summer and into autumn as contract ended last week but picked up a new role straight away. 6 month contract with a major oil and gas company. I'm hoping to try and turn this one into a long term gig since it's a great company with a solid pay packet.
Still waiting to close on property no. 4 and the lenders are being a pain in the arse with regards to the refinancing on property no. 2. They still valued it at a price which sees me double my intiial investment though but I already had it in the books for around that value anyway.
Hoping to close on a fifth property by end of the year in London - would be in the $500k - $750k range. Serious money now. The next 6 months are going to be crucial for establishing a foundation to build on.
Thanks bro.Still, having that networth compared to the rest of us is an impressive feat.
Just caught up with your posts here. Very inspired by your perseverance. Will be following your thread, keep us posted please.Four investment properties under my belt now and a fifth on the way. Net worth sits at $400k. Not enough time for a more comprehensive income but intend to write something up later this month as an end of year review.
Thanks bro. Sometimes it does feel like I haven't achieved anything at all, but I remind myself to be grateful. Ultimately life is good and progress is being made.Just caught up with your posts here. Very inspired by your perseverance. Will be following your thread, keep us posted please.
Also don't put yourself down, you're most likely doing better than 95% people your age!
One of the best paragraphs I've read on this forumWhat is unhappiness really? For me it’s a mental position where your expectations and your reality consistently fail to reconcile, leading to a sense of frustration and failure. In that respect it is simply a state of mind influenced by three things. Your value, the world around you and your expectations. Your value influences what you can obtain from the world around you, and your expectations determine whether you are content with the result. Of course, your value and the world both influence the likelihood of your expectations becoming reality. And your expectations are developed from both your perception of your value and the world itself. So, it’s almost like a circle.
Cool on getting more real estate BeTC.It's a strange situation. To find yourself profiting at a time when many are losing jobs but honestly Covid-19 has financially been the best thing that could have happened to me.
Net worth sits at $485k, up on last month in spite of some heavy spending and tax bills due.
Consulting Business made $15k last month from two contracts. April is normally quiet. Demand for my services has actually gone up. I secured a third contract unexpectedly and as I'm working from home I can probably handle it. Looks to be staying this way for white collar workers for while.
With three contracts running consecutively I'll make $25k in May. It really is unbelievable.
I've applied for a business bank loan. They're all 100% backed by the government due to Covid and interest free for the first year so essential free money.
I'm going to have tons of liquidity so aiming to dump $5k - $10k a month into equities and crypto till the end of the year.
If I can secure this loan I'll also be using it to buy up more real estate.
On top of all this I applied for a $70k government grant to fund a startup idea which is aimed at supporting the country during and after coronavirus so juggling a lot of exciting options.
A loan from a private bank but as it is related to Covid the government guarantee 100% of the loan. Meaning in the event of default the government will make good on the amount owed to the bank. This effectively means the bank can lend to more risky borrowers at a lower interest rate (I.e. chancer who makes an application)Cool on getting more real estate BeTC.
A gov't backed business loan? You mean insured?
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Oh wow, foolproof loan, good luck, I wish you success!A loan from a private bank but as it is related to Covid the government guarantee 100% of the loan. Meaning in the event of default the government will make good on the amount owed to the bank. This effectively means the bank can lend to more risky borrowers at a lower interest rate (I.e. chancer who makes an application)
No need to apologise. Just having a positive net worth puts you ahead of a lot of people.Oh wow, foolproof loan, good luck, I wish you success!
I'm out this morning doing creepy drivebys of cheap listed properties. I'm wondering if I should delay for more foreclosures when Covid-20 or Covid-21 hits.I'm going to research if there's any incentives like what you found. If I start a numbered provincial holding 'company' and get that company to buy the house I may qualify!?
I really don't want to be paying rent but a mortgage instead.
The female mortgage broker gave me a female lending officer name and it would be a female real estate agent.
Just wondering what its like to buy investments with females helping me. I'm sexist I guess.
Also, I wonder that maybe I shouldn't wait until more of my debt is paid off.
I'm barely 1/10th of your NW.
I wonder when I get to your level that I'll be more relaxed with the margin of debt I carry. The risk tolerance will be higher?
Sorry I'm not at your level/peer experience yet, but where I get the good example from you, I can trade cheerleading.
Keep up the good work BeTheChange!
So your income was up by 8,000 this past month? That's nearly 25% growth. Well done. Keep it going, keep grinding.Net worth now at $525k. My highest revenue generating month since I began consulting - all a direct result of Covid-19. Total income of $33k in the month from property and invoicing on client contracts. Expecting a drop off of 40% next month as I've finished and rolled off my highest paying engagement. Chasing another.
Building a cash war chest to weather the coming storm and make some acquisitions. Drew down on some existing credit lines to bolster the ranks. I'm now sitting on $150k of dry powder.
Looking to move into equities if value can be found and will likely be putting some offers down on some properties in the $200k - $300k range in the near future. Intend to start multi deal purchases.
Finally felt financially secure enough to move into my own place - a spacious 2 bed apartment in the city I purchased a few months ago. Feels strange, especially as before this I've only ever lived in rented accommodation with housemates. I was getting intro to American Pyscho vibes walking through my house naked with no one to judge me. Not going to lie. Riding high right now. Life is good.
Congratulations. From what I hear Dave Ramsey is great for getting out of debt and pulling together a basic budget.So your income was up by 8,000 this past month? That's nearly 25% growth. Well done. Keep it going, keep grinding.
In comparison, I have 'four walls and Baby step 1' (Dave Ramsey plan) finally completed this month.
My income went down by 5% starting a healthier and more fulfilling position but at least I was able to decrease monthly bills(expenses) by approx 20%.
My house buying is on hold until after Step 3 (DR plan)is completed.
Different stories and economies of scale, lol. Thanks for your stellar example to admire.