Comments on: July 2007 Net Worth Update (+1.74%)

By: FrugalTrader

FrugalTrader — Wed, 01 Aug 2007 11:41:46 +0000

Lewis, I know what ya mean! As long as I remain “anonymous” I don’t mind posting my numbers. Besides, the readers seem to enjoy seeing actual numbers. Whatever makes you guys happy makes me happy.

By: Lewis Empire

Lewis Empire — Wed, 01 Aug 2007 03:15:20 +0000

I’m still surprised that you show these numbers on your website! I appreciate the courage it takes to put yourself out there like that.

By: FrugalTrader

FrugalTrader — Tue, 31 Jul 2007 15:54:37 +0000

Warren, yea, rental property insurance is really expensive here. Note that the insurance includes 2 vehicles, primary residence and rental property.

Qubikal, the increase in the RRSP’s includes contributions. The growth is primary due to trading in the new account I opened with Questrade. Got lucky I guess? :)

By: Qubikal

Qubikal — Tue, 31 Jul 2007 15:44:54 +0000

Congrats on another net worth increasing month!

I’d like to know how you managed to pull a positive increase in your investments (notably the 5.76% in the registered investments)?

Just a little jealous… that’s all.. =)

By: Warren

Warren — Tue, 31 Jul 2007 14:18:54 +0000

Sounds like a lot, but I guess if your rental property is a detached house that makes sense. What about other lump sums like regular (but expensive) maintenance for your properties? I’m sure you have more detail outside of this blog, but I was just curious. My situation is similar, although my rental property is an apartment with predictable expenses.

By: FrugalTrader

FrugalTrader — Tue, 31 Jul 2007 14:05:54 +0000

Hey Warren, since I pay for my insurance costs in lump sums, i’m going to add it as a monthly liability. I paid the lump sum last month, so every month going forward will cost me an additional $300.

By: Warren

Warren — Tue, 31 Jul 2007 13:58:36 +0000

Thanks as always for the detailed info, looks like another great month. What happened with your insurance costs? Is this a one time liability, I didn’t see it on last month’s statement.

By: FrugalTrader

FrugalTrader — Tue, 31 Jul 2007 11:41:35 +0000

Hey guys, thanks for the encouragement. FP, the appliances include bottom drawer fridge, typical flat top range, regular dishwasher, and over the range microwave oven. And yes, taxes in. Even though our new home is about 3-4 months away, we couldn’t pass up on the deal. :)

By: FourPillars

FourPillars — Tue, 31 Jul 2007 11:38:02 +0000

Hi FT – nice numbers as always!

That appliances cost looks pretty reasonable. I’m assuming that is for fridge, stove, dishwasher and taxes in? Pretty good stuff.

Don’t worry about the money making thing – you can only do so much at one time.

Mike

By: A.J. - IAmFacingMillions.com

A.J. - IAmFacingMillions.com — Tue, 31 Jul 2007 11:34:46 +0000

Those are some impressive numbers. Congrats on the deal on the appliances and the airfare.

By: FrugalTrader

FrugalTrader — Tue, 31 Jul 2007 11:04:05 +0000

FB, you mean how i’m going to assess the value of the new home? I usually appraise the real estate that I own a little under it’s market value. For for the new home, I know that the house will be worth more than what I buy it for b/c of the neighborhood. However, i’m going to use my “cost” as the value of my new home in future net worth statements.

By: The Financial Blogger

The Financial Blogger — Tue, 31 Jul 2007 10:59:14 +0000

Hi FT,
I am curious to see how you plan to assess the value for the first year. You probably won’t have enough comparable in the same area as they will be all new properties and your cost should be far away from the truth, isn’t?

By: FrugalTrader

FrugalTrader — Tue, 31 Jul 2007 10:55:30 +0000

Hey FB,

I’m currently still living in my primary residence, so no, the house being built is not included in my net worth statement.

Primary residence value: ~ 140
rental value: ~125

By: The Financial Blogger

The Financial Blogger — Tue, 31 Jul 2007 10:50:21 +0000

Hi FT,
I know you are renting one property and you are building one. Does your Real Estate section include the full value of your property being built or are you living elsewhere right now and that new property is not compiled in your net worth statement?
cheers,
FB.