August Update

Summer ran away from me.  We had a pretty decent set of paydowns in June and July.  August is a nope because we redid the kids room and that took all the extra.  But September will likely be a big paydown, because August is a 3 paycheck month for me.  So we'll plug away.

It's also money shuffle time, so T Alaska Visa got moved to HELOC and because of some idiocy on my part, Al Alaska Visa got a big change too.  Al Alaska Visa will move to the HELOC too, and I'm hoping we'll transfer everything back to the Alaska Visas and the HELOC will be empty.  Although it's interest rate did decrease this month so yay for that.

August

We paid down a total of $2466 since the last update in May.  We're on track to pay $25k extra for the year, with a total paydown of $87k, which blows my mind.  Yay us!

The goals have changed again.  We're holding on buying a property until we pay down the debt quite a bit.  Having the HELOC free will be useful for down payments if the numbers work.  QRP also has had no progress, because I need to talk to a couple people, since we're not active in our business, and we might not get back there, which means we can't use that vehicle.  So we'll see what happens.

May Progress

This month was a minimum payment month.  A lot of fun things happened this month that weren't planned for but had to be paid in full...out of savings...so we need to build that back up before we can pay extra again.

But yay pool membership, yay disneyland hotel reservations.  But boo on debt paydown. 

Original total on the Venture is null, because it was transferred from the HELOC.  We'll be playing the money shuffle in August when T Alaska Visa 0% expires.

May

I will declare our current goals though, as those have become more defined, at least with regards to real estate.  We're planning on getting a property by end of August and enough to be cash flowing $675 by end of year.  Which will mean that Magpie is paying for itself.  We're also going to be opening a QRP account (or at least researching them to decide) so we can start loaning money out of there.  My goal is to get that sorted by end of June and have the money rolled over.

April Progress

This month's payoff was more in line with the norm.  We did have a couple of outlays (summer camp, dog's to the vet) that were unexpected and not planned/budgeted for.  We also moved money from the HELOC to the Venture card, which had a 0% for 12 months deal going on.  HELOC raised the APR to 4.99%.  Which is still low, but annoying.  We're also trying this game of moving money off the HELOC for when they calculate the interest, and then moving it back.  That experiment will be reported on next month.

April

We were able to pay off a total of $2130.18, which is $892.90 above the minimum payments.  While this means we've paid off a total of $9864.91 above the minimum payments this year, it also means we need to pay almost $1900/month to hit the $25k goal.  If we include the minimum payments in the goal, then it's only $750/month to hit the $25k goal.  I think we went in with the intent of including the monthly payments, but I like the stretch goal of not.  The fancy chart I made doesn't include the mins. So we're making good progress either way.

One of the things we were expecting was to sell the Tacoma house that's currently a rental.  We're extending the lease 9 months instead, so that decision (lease, sell, 1031) can be postponed.

Haven't been working too hard on the transitional housing plan.  Have an email out, but haven't followed up.  Been educating on multi-family with the intent of getting one under our belt by year end.  Hopefully somewhat locally (at least in the state).  Depending on the size that should take care of the Magpie goal.  We're going to a big RE expo next week that I'm really excited about, that will allow us to network and progress. 

March Progress

Hurray for tax season.  We got a large refund this year, and it pretty much all went to debt. 

March

We were able to pay off a total of $10,409.18, which is $8721.90 above the minimum payments.  This makes me a happy monkey.  One of our three goals is about 1/3 of the way there.  Happy dance. 

We changed one of our goals from 'Sell Tacoma land' to 'Make Magpie self-sufficient'.  Which means at least $650 in passive income each month. 

In other news, the duplex in AR fell through.  Good lessons learned though.  We're going to be working on transitional/chem-free housing in Little Rock with our team there.  Goal is to have the first one in 6 months, with further goals of expansion and small apartments for their next steps.  Stay tuned.

Feb Progress

We were able to pay extra to the HELOC this month.  Not a lot, but we were also hit with some emergencies we needed to deal with.  So much snow.

Feb Progress

We paid a total of $2310 to debt this month, which is $622 above minimum payment.  Next month should be quite a bit more.

In other news, finally got paid for the first excess proceeds deal.  So we're buying a duplex in Arkansas.  Because why not?

Jan Progress

Happy new year!

Some exciting news, we managed to fully fund both our unemployment fund ($10k) and our emergency fund ($1k).  The dogs immediately used the emergency fund with teeth extractions, but we've recouped that with the final paychecks of the month.  February will also be fully funded.  But now we can start paying down debt.  Huzzah!

Wrt the tax sale, we've started the process of getting it prepped to sell.  First thing to do is get a preliminary title report, so we can see if there were any liens on it, and then reach out to the prior owner to get him to do a 'bargain and sale deed'.  Then we'll be able to get clear title.  We also have had an encampment move in, so that's fun.

We also got our first check from the excess proceeds efforts, although it's wrong.  So that will be an extra $12k when all is said and done.  $2k for the vacation fund and $10k towards debt.

January Totals

We paid off $1164.44.  This month we'll add at least $800 to our minimum payments and that'll go first to the HELOC, since it's the highest interest rate and it annoys me the most.

We talked about priorities for this year.  We have three priorities currently.  1) Get rid of the Tacoma Land deal...hopefully make a little money.  2) Clean out each room in the house and downsize the amount of crap.  We're not going to Marie Kondo things, but every flat surface is covered with stuff and it drives....me....crazy.  3) is to pay off $25k from our debt.  This should be doable off our current salaries if everything stays the same.  My contract ends at the end of March, so we'll see what's next for me.

Onward!