My current net worth is €409,499.44 (61.12% of my first goal – €670K).
Times are changing…
Ben is slowly coming back to the frugal dude who got mad over 20 bucks…
My real estate passion is slowly coming back, despite my health is at its rock bottom.
I am still spending tons of money in supplements and therapies and stuff, but I am becoming more aware of what works (or does anything for me), and selectively spend my money there. All in all, I learned that the best things are not the most expensive ones! And I was happy about it. 😉
Just like I said last month, I am a man on a mission…
April 2020
This is the date when I will lose the contracts that I currently have settled. This means that I should work on setting up a stream that yields at least $1.000 per month, 100% passively and 100% reliably. May sound odd to you, but this is how much I need to live a good life now. Note though that this should be on top of my real estate and whatever else I have (which means, like I said last month), that I should have €3000 net coming in every single month without me having to do anything for it.
The bad news is that I am pretty much at ground 0.
The good news is that I think I will make it. In fact, at a 8% yield on the stock market, this means that I need to raise about $120.000 (considering 20% tax on the dividends).
Building this side income through dividend stocks is very reasonable, given my current (very low) exposure to it. On the other hand, it is not a good time to invest in the stock market (in my humble opinion) because I can smell a mother*ing crash! Uhhhh.
In fact, as of late 2018, the only place where I don’t mind putting my money into, on a consistent basis, is real estate in markets that are not overvalued (I am lucky to be part of a company that knows which markets are overvalued and which are not).
But I don’t want to build this stream from real estate, for several reasons. 1) its too much exposure and rental laws may change, does leaving me to the mercy of the government. 2) it actually doesn’t make more sense to increase my rental income, from a tax perspective, unless I make A TON of money on top of what I make.
Very tough position to be in… more about this plan late on (probably on a separate post!).
Coming back to August 2018…
Financially, things are going smoothly even though I spent tons of money on my health and I am far from having a secure income stream until I reach retirement. This is part of the reason I want to speed up the process!
Rental property #4
I recently rejected a €100.000 offer on Rental Property #4, which would put €50,000+ on my pocket in a pair of months. Believe it or not, I am renovating it fully now, and I’ve got a total loan of €160.000. Lots of money, yes, but the property is estimated to work (before the bank, not before my eyes) €440.000! But forget about that for a second…
This property will yield, at the very least, €2.500 per month, and my mortgage is about €750. Also, because I am renovating the property, I can write off the renovation expenses against the rental income, so that will be net for at least 4-5 years. We are talking €150.000 in 5 years…
Do you know realize why I rejected an offer that would put €50.000+ in my pocket overnight? There is more than instant money. And more than that, I have already made that money when I bought the property and secured a ridiculously cheap renovation contact for it.
Rental property #5
I have this property listed for a while now. I knew from the get go it would be hard to sell it quickly, but I was counting it on selling it in 6 months, at most. It has been almost 6 months and I’ve got exactly 0 offers, which is kinda annoying… I need to sell this property urgently, because that cash is preventing me from doing more quick deals. Renovating the property and leasing it out is not an option because we’re looking at 8% yields or something. This is not good in my book!
Plus, I can’t get my head around sitting on €100,000 in cash until the end of the year. That will allow me to properly plan a stock market assault…
Health status
As I have been saying, I have been able to identify the direction I want to follow as far as my health, and I will start executing phase 2 next month. Wish me luck…
I will tell you guys all about this next month, when I should have completed an entire month of treatment.
Rental income
RP#1 is still my Primary Property (PP).
The rental income in August was again €1,445. The thing is that I have no mood to properly look for tenants and rent my homes out. Next month, the story will be the same, but I am confident about October because I slowly seem to be motivated enough again for the real estate game. From October onwards, I expect to have a total rental income of €2,000+.
This means that, with RP#4, I could be close to €5,000 by the end of the year, which was the goal in January.
Real Estate Company
The Real Estate business I am involved with is growing and the brand is being slowly spread and consolidated. The fact that our biggest freelancing clients shut down forced us to go after the market ourselves, so we will push the online biz more than ever. In particular, we will hire some people.
This really means that we need to get to 10.000 subscribers by the end of the first quarter of 2019. We’re still considering how much money we’ll put into this task and what strategy we’ll follow. Having the offline business feeding the online growth is something we said we wouldn’t do, but this may actually be a possibility from now on…
Online income
My online income in August was about €100, which is pretty much what I do 100% passive. This means no money.
You want to support my blog in any way (even by simply donating a few bucks)? Please let me know in the comments down below.
Goals for August
- Stick to my perfect routine and continue on dreaming. SEMI DONE. Although I did it, I can’t seem to visualize property anymore. Can’t seem to concentrate well enough. I need to change this.
- Go for a walk (or even a run if I have the energy) every single day, in the morning. DONE! Even on Sundays…
- Start learning inverted pull ups and handstands. I would be extremely happy if I could do both until the end of the year… SEMI DONE. I started to, that is a fact.
- Go to bed at 10pm every day and NOT at 10:30 as I’ve been doing. This should allow me to wake up just before 6am, which would be pretty cool! FAIL. 10.30 is still the mark.
- Get a freaking rebounder (for €100 or less) and a true water filter (like Big berkey – which is like €250 more expenses coming!). SEMI DONE. I got the rebounder (for €30, savvy Ben is savvy) and it seems to do the trick. As far as a true water filter, I am yet to get one…
- Post at least once on this blog (sorry guys can’t do more right now). SEMI DONE. I am still late and leaving you angry at me, sorry!
- Follow the nofap protocol aggressively (for health reasons, not social phobia or anything like that). FAIL. Couldn’t help myself.
- Structure the company for the rest of the year and write 5 guest posts (aggressive, I know). FAIL. Entrepreneurs are freaking heroes. I am not one yet.
- Be happy. SEMI DONE. I certainly had ups this month! 🙂
Goals for September
- Stick to my perfect routine and continue on dreaming.
- Go for a walk (or even a run if I have the energy) every single day, in the morning.
- Start learning inverted pull ups and handstands.
- Go to bed at 10pm every day and NOT at 10:30 as I’ve been doing. This should allow me to wake up just before 6am, which would be pretty cool! FAIL. 10.30 is still the mark.
- Start new treatment and get some results.
- Post at least once on this blog (sorry guys can’t do more right now).
- Structure the company for the rest of the year and write 5 guest posts (aggressive, I know).
- Rent out both units that are yet to be leased.
- Be happy.
Enjoy life guys!
Ben