Sbrooks06340
Confused about dryer sheets
- Joined
- Dec 27, 2017
- Messages
- 1
Hello All,
Long Time reader but never have posted.
I wanted to get some advice as to where I am at. My focus is 100% in retirement but not sure where to go from here. I have been heavy into Real Estate.
Here is my infomation, suggestions or thoughts are appreciated!!
Myself 42, Spouse 40 Total Net Worth today is showing 1.4Million consisting of:
CA Primary Residence: Value 650K, Paid in Full - Renting Portion - $1600/Month
CA Condo: Value: 350K, Paid in Full - Renting 1600K/Month
CA House: Value: 180K, Paid in Full - Renting 1300K/Month
GA House: Value: 181K, Owe 86K- Renting 1000/Month - Currently Nets $300/Month
FL Condo: Value: 135K, Owe 64K- Renting $975/Month Currently Nets $0.00/Month
IRA: 141K
So the plan in the last five years was to pay off the top three properties. We will be making the final payment on #1, #2 next month (so I am counting them as paid).
We are very cash poor, with 13K in Savings, so the next five years will be to build savings/cash as much as possible.
With rents and work, we bring in about 12K-17K a month and have been able to save about 10K/month consistantly. All of which has been going to paydown real estate. We are spending about 3/4K month in living which is bare bones in CA. The monthly overage has been used in Real Estate is what has greatly increased the values of the properties. (We bought foreclosures and fixed)
Very happy as it seems we are kind of at a break even point, where we could just live off of the rents and survive. Of course we are looking to enjoy retirement, travel etc so adding in another $3K/month income would be the goal for us. We live in CA.
Not sure where to go from here...thoughts/imput/etc.....??
Long Time reader but never have posted.
I wanted to get some advice as to where I am at. My focus is 100% in retirement but not sure where to go from here. I have been heavy into Real Estate.
Here is my infomation, suggestions or thoughts are appreciated!!
Myself 42, Spouse 40 Total Net Worth today is showing 1.4Million consisting of:
CA Primary Residence: Value 650K, Paid in Full - Renting Portion - $1600/Month
CA Condo: Value: 350K, Paid in Full - Renting 1600K/Month
CA House: Value: 180K, Paid in Full - Renting 1300K/Month
GA House: Value: 181K, Owe 86K- Renting 1000/Month - Currently Nets $300/Month
FL Condo: Value: 135K, Owe 64K- Renting $975/Month Currently Nets $0.00/Month
IRA: 141K
So the plan in the last five years was to pay off the top three properties. We will be making the final payment on #1, #2 next month (so I am counting them as paid).
We are very cash poor, with 13K in Savings, so the next five years will be to build savings/cash as much as possible.
With rents and work, we bring in about 12K-17K a month and have been able to save about 10K/month consistantly. All of which has been going to paydown real estate. We are spending about 3/4K month in living which is bare bones in CA. The monthly overage has been used in Real Estate is what has greatly increased the values of the properties. (We bought foreclosures and fixed)
Very happy as it seems we are kind of at a break even point, where we could just live off of the rents and survive. Of course we are looking to enjoy retirement, travel etc so adding in another $3K/month income would be the goal for us. We live in CA.
Not sure where to go from here...thoughts/imput/etc.....??