Hi Everyone,
This was another busy month, but I was able to make some headway on a few things.
Invested In A Mortgage Fund … Finally
After hours of researching and interviewing different mortgage funds I finally found one that I invested in.
Check out my September monthly update to read about what happened to the original Mortgage Fund that I was going to invest in.
But everything happens for a reason and personally I believe this new fund is much better.
Here Are The Numbers
The fund has returned between 8% – 9%, but it has averaged out about 8.5% even throughout the Covid-19 pandemic in the last year.
Using my HELOC, I invested $50,000 into the fund with a current interest rate of 3.05%.
On average, the fund will return me $354 every month, assuming an 8.5% average return. The HELOC’s monthly interest will be roughly $125.
If I set my HELOC payment at $200 a month, I will pay down the principal of $75 a month while still pocketing roughly $154 a month.
This means I’ll gain $229 per month in my Net Worth, and it will slowly increase as the principal is paid down.
Not to bad for not having to using any of my own cash for this investment.
Update On Fishing Website
Back on my June 2020 update, I mentioned that I bought a program called “Project 24” and created a fishing website back in 2019. I only created 10 blog posts before I got busy with life and work and somewhere along the line, I lost motivation to continue. I only created 10 blog posts but when I checked it out after months of not looking the website was brought in about 6000 people a month.
Now its the end of October and its in the off-season for fishing but the website is still bringing in about 2500 people a month!
So I’ve getting back on this website and trying to create an income producing website.
I’ve been trying to fix my early mistakes and clean up the website a bit. Towards the end of October I decided to sign up for google ads.
In October the website made a whooping 57 cents.
But whatever its a start!
In November I plan on publishing a few blog posts and try to build up the content.
Financial Update
Monthly Incomes = $7,555
- Career = $7,010
- Lending Loop = $130
- Real Estate Syndication = $360
- Stock Dividends = $55
- Mortgage Investment: $0
- Fishing Website = $0.57
Monthly Expenses = $2,670
- Cost of Living = $2,010
- Discretionary = $460
- HELOC Payment = $200
Net Worth (Month-Over-Month Change):
Total Assets = $540,480 (+$6,020)
- Home Value = $354,800 (Assessment Value)
- Lending Loop = $15,365 (+$117)
- Real Estate Syndication = $76,120 (+$360)
- Stocks = $20,300 (+$0)
- Mortgage Investment: $125 (+$125)
- Cash = $76,770 (+$5,417)
Total Liabilities = $171,120 (+$49,265)
- Home Mortgage = $121,245 (- $610)
- HELOC = $49,875
Total Net Worth = $369,360 (-$43,240 / 10.55%)
