- $38,246 in outstanding credit card bills (not counting balances on cards I pay off each month). This increased significantly (about $10,000 over last month) as I desperately sought all sources of cash to buy a rental property.
- I also took out a $3,500 personal loan to fund the rental property transaction.
- $96,276 owed on my house (a principal reduction of $556!).
- $33,810 owed on a HELOC used to purchase a rental property.
- $38,520 owed on my car (the bane of my existence).
- $17,642 owed on student loans.
- $180,565 owed on 2 other rental properties (a principal reduction of $711!).
- $38,000 in other obligations related to rental properties.
- I finally closed on Rental Property #7 in October. This will most likely be my last real estate transaction for a while.
Current Goal: Automate Savings and Mortgage Paydown
1) Extra $1,100/mo. to mortgage
2) $1,000/mo. to short-term savings
3) $400/mo. to investing
Previous Goal: Eliminate Mortgage on Rental Property
Interest Rate is 5.125%!
January 1, 2019: $59,592
August 11, 2020: PAID!
Saturday, November 7
My Financial Situation (Update for November)
I mentioned last month that my #1 goal is to pay off my debt as fast as possible. I wanted to review the progress I made in October: