December 2017 Net Worth Update: $572,907 (+$55,361)

Here’s my latest net worth update for December 2017!

As you can see, we had our biggest gains in the Cryptocurrency arena. Those numbers went up from $51K to $90K which represent almost $39K of the total $55K growth in our net worth.

The other gains were:

  • Cryptocurrency increased by $38,550
  • Primary home value increased by $2,332
  • Rental properties equity of $12,000 (the properties appraised for higher than our purchase price)
  • Stock market gains made up the remainder

Here’s a snapshot of our accounts:

We Took Out Two Loans!

We’re no longer “debt free”! I guess I’m not a debt free geek any longer… I recognize the irony, but I think it’s important for me to remember where I started.

I truly believe we couldn’t have become this successful without having first conquered our personal finances and becoming 100% debt free. Maybe others could have, but not us. We’re super risk averse, and I would never have jumped into real estate investing without having a sound financial platform from which to do it.

Rental Properties

As you know, we want to create enough semi-passive income from rental properties that I can quit my job in 2019. We made a goal of acquiring our first rental property in 2018, and we completed that goal in December.

We bought two duplexes for $68,000 each, and they appraised for $74,000 each which represented a $12,000 bump in net worth. Not bad. What I’ve found with multi-family homes is that I shouldn’t expect a ton of appreciation. I think it all depends on the area, and I’m not buying in hot markets.

Also most potential buyers of multi-family homes are going to be investors who are looking for a deal. So I expect the overall appreciation to correlate with the rental market. If rents increase, then a higher price can be justified.

Cryptocurrency

Well December was a GOOD month. I don’t think crypto is mainstream yet, but it’s definitely gaining popularity. Our overall crypto portfolio increased by almost $40,000, and we can’t be happier.

If you’re interested in my opinions and thoughts on how to get started with buying cryptocurrency, and how to save on fees, and honestly a bunch of other tips and tricks, check out my guide here.

My top movers were XRP, NEO, and ETH.

Ripple (XRP) started the month at around 25 cents, and shot up to around $2 by month’s end. Not bad gains!

NEO traveled from around $35 to over $70. I’m glad I bought the dip and picked up a bunch around $18. 🙂

Ethereum (ETH) is one of my favorite coins, and I still have over 25 of them. ETH mooned from over $450 to around $730. Not bad!

Life’s Busy

Aside from net worth updates each month, I’ll probably be fairly sparse on this site because we just have so much going on in real life while trying to prepare to quit in 2019.

If you have any questions, please feel free to comment or contact me directly. I’ll be happy to chat.

Get Your Act Together.

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