Comments on: Net Worth Update: $331,530.72 (Increase of $30k!)

By: J. Money

J. Money — Tue, 16 Oct 2012 01:19:35 +0000

Sorry my man, it’s confidential. And yeah – I had a “subscribe to comments” section here but the plugin kept breaking so I had to remove for no :( I’ll try and get it back up again soon – thanks for the reminder.

By: Rohit @ The Money Mail

Rohit @ The Money Mail — Mon, 15 Oct 2012 21:54:55 +0000

@JMoney: Can you shed some more light on the website you sold?

PS: I was looking at a way to subscribe to replies, but could not. Can you reply to me by email.

By: J. Money

J. Money — Tue, 09 Oct 2012 02:37:01 +0000

That’s what I’m currently doing actually – killing off #2 first cuz I like to see it dwindle and dwindle more :) And then yup – hopefully be able to then refinance to a normal rate for that 1st, jeesh… but we still got some ways to go until I can fully squash it. Business has been low overall the past couple of months, so we’ll need it to go back up again to start paying off extra again… fingers crossed!

By: Evan

Evan — Mon, 08 Oct 2012 02:16:06 +0000

Wow a 10% month!? That is unreal. I did well this month but not that well. Any thought about killing off the mortgage #2 instead of #1? I know it is a low 2.2% but how much would it lower your monthly nut? Would that lower your DTI to refinance #1 since 5.5% is WAY too high

By: J. Money

J. Money — Fri, 05 Oct 2012 21:27:51 +0000

Thanks! I hope you’re taking giant leaps forward too here and there :) It let’s you know that you’re on the right track!

By: Melissa@LittleHouseintheValley

Melissa@LittleHouseintheValley — Fri, 05 Oct 2012 18:55:22 +0000

I love it when you take a step backward for a few months and then take a giant leap forward to surpass your old high. Great work! Looking forward to seeing your progress in uncharted territory.

By: J. Money

J. Money — Fri, 05 Oct 2012 14:43:31 +0000

@Cassie – That works! $2,500 is a ton of sexy money! Keep it up :)
@Derek @ ThePointsGuide – It would most DEF make sense to refinances, though as you’ll notice in those numbers you just laid out our house is WAY underwater still :( Which means no one will allow us to refinance unfortunately… On the plus side, we DID get lucky with our same mortgage holder last year who had a CRAZY deal going on we took advantage of, and was able to drop our rates from 6.875% down to 5.5% which helped a ton (And also moves us from “interest only” to a “traditional” mortgage). Other than that though, I’m afraid we’re $hit out of luck until we pay more off… I like where your head is at, though :)
@Jennifer Lissette – HOLY CRAP!!! You killed it!!! What changes this month for y’all to be able to go up so much?? Or are you now going up that on a regular basis?? (How hot would THAT be!! :))
@Adam Hathaway – Yeah, go for it dude. Even if you just did it every other month it may help you keep a better pulse on your finances. Though if you’re current quarterly system works now, you may not want to mess too much with it if you think you’ll just abandon it altogether.
@Ian – Hah! That’ll def. get you to learn for sure :) I think it’s awesome that you went out and built something and then turned it around like that though – that’s great. And was one of my main reasons for selling too – I wanted to go through the whole process of selling a site and experience it :) And of course the money didn’t hurt either, haha… Unfortunately I can’t disclose the site per our contract, but I doubt it’s one you’ve heard of before. Keep on hustlin’ bro!
@Neal – Ooooh I like that! And no – I’ve never thought of that before actually? It does make sense though. Even though they’re online they’re still income-producing “properties”… Hmmm… It also makes me wonder about accounting in general too – like if they’re supposed to be considered “assets” when filing taxes for a small biz, etc? I should probably ask my accountant on that :) Very interesting stuff though for sure – I’m gonna think more on this and see if I end up including it or not down the road. Thanks for sparking some new brain waves!
@Will – Dude, $50k is nothing to sneeze at – the fact you’re GROWING and going after your goals like that is great! I don’t know how old (or young) you are exactly, but I can tell you I didn’t start paying attention until I got into my mid-late 20’s and it would have been a WAY diff. ball game had I started even earlier. Not that I have much to complain about now, but you know what I’m saying. The earlier you start, the better you’ll be for the rest of your life! So keep rollin’ with it brotha!

By: Will

Will — Fri, 05 Oct 2012 00:18:51 +0000

Thats great J Money. Some of you guys are really rockin’ it, impressive stuff. No where near as impressive but I did hit an all time high and crossed the $50k mark for the first time. I’m still young and I’ll be up there with you guys some day. Anyone else ever feel like they don’t make enough money to support their savings habits? I guess if thats all I can complain about then I’m doing alright.

By: Neal

Neal — Thu, 04 Oct 2012 13:38:50 +0000

J. Money,

Have you considered putting your internet assets on your balance sheet? I’m self-employed and put the value of my business on balance sheet (accounting practices always sell within a tight multiple range). I can see how calculating a conservative value for website may be difficult.

I enjoy your site.

Thanks,

Neal

By: Ian

Ian — Thu, 04 Oct 2012 09:34:16 +0000

Nothing like a whopping chunk of cash to make you feel good about your finances!

I might have asked already, but what site did you sell? (or is it a secret?)

I’ve sold a few sites for big money. Annoyingly, I sold one for $4000 back in 2008 and the guy (who was obviously an experienced flipper) sold it almost immediately for $25,000!

I know better now! :)