Harry Potter and the Prisoner of Mortgage Debt – no longer!
I guess you could say I’m a problem solver:
Problem: Agent is refusing to refund my bond because they claim I owe unpaid rent – without any explanation. When questioned, they changed the amount that was due, still with no explanation.
Solution: I made a claim for the full bond. They were given a month to dispute it – and their time limit just expired. Ipso facto, I received a full bond refund.
Problem: Real estate agent wanted $5,000+ in commission to sell my cheap-ass house for an under-quoted price.
Solution: I sold it by myself, commission-free, for a better price.
Hmm.. maybe I just don’t like real estate agents?
More importantly though, my house finally sold!
With the sale of my house finalised, a pro-rata landlord insurance refund, and my full bond refund coming in, my net worth is up and about:
2 houses 1 house on a large block, still standing. Total value now at $185K $440K with ~$166K $380K debt. Interest only loan, for now. Equity: $19K (-$41K)
$39,629 in six companies plus 5 LICs. I have received $0 in dividends this month. (Change: +$9,564)
These were my top picks for the month:
Mineral Commodities (ASX:MRC) at $0.12 – a small holding, for yield with strong upside
WAM Microcap (ASX:WMI) at $1.21 – for growth, and future dividends
Platinum Capital (ASX:PMC) at $1.67 – for international exposure (think Google, Samsung)
$52,359 in an offset account, saving me 4.94% (sneaky fuckers raised the rate) in interest. (Change: +$41,414)
Previous net worth: $101,134
Current net worth: $111,161 (+$10,027)
I’ve passed $110K – just like that – with the added bonus of reducing debt!
Only $4K until I hit my XMAS target – can it be done?
I am now up $26K in the last 5 months! Let’s keep this freight train going!
COUNTDOWN: 45 Months Until I’m 30
It’s now been 40 months since I started investing & my net worth has grown at an average of $2,779 a month. Using Goalseek, this is a 14.0% compounded annual rate of return. At this rate I should have $340K by age 30 (heh, let’s hope so!).
This doesn’t include my super (fuck all), HECS debt (fucking heaps), or my fully sick highly collectible V8 (fucking awesome).
Next up is October – brace yourselves for a bogan-style Halloween special!