October has always been an interesting month. Winter time is officially upon us, as the clock has been set back one hour on this side of the pond. And gradually, we transition into darker evenings and colder weather. And you just know that the biggest festive season is shortly upon us.
On the financial side, our last month has been quite steady. We signed the deed for our HELOC loan, which we will use (partially) for our first real estate deal. We also received the definitive offer on the mortgage for our second RE deal. And we’re setting up some things for the months to come, like a small renovation for unit #2, finding tenants and broadening our real estate network.
The bad news is time flies. The good news is, you’re the pilot.
– Micheal Althsuler
After a short holiday in Lissabon, which was absolutely beautiful by the way. I had entered my last office weeks before I would make a career switch. And I still have one week off – love it! – before I have to get to work again. I’m looking for ways to optimize my time more wisely since my new office is located in our capital city. Like bulk cooking on the weekends – #bestthingever. Experimenting with the art of early rising. Or make awesome podcasts list which I can listen to while in traffic. On the BE/NL FIRE meet-up – hosted by Amber Tree Leaves and Cheesy Finance – I’ve received some awesome podcasts tips to listen to so my time will be well spent.
The past FIRE meet-up was our 3rd already to attend, and I was amazed to see how big it has become already. Forty money or finance enthusiasts were plotting on investing in cryptocurrencies, how to access holdings, having a European FIRE week called FIWE and overall tips on growing wealth and saving money. And besides seeing some faces behind the blogs, we just had a great time with all of you.
One of the things presented as well as the announcement of FIREhub.eu. A European network which aims to connect all bloggers and others who are interested in everything related to (personal) finance. With the aim to share valuable information, exchange ideas and provide quick access to blogs and blog articles about FIRE-related topics.
The part of dividend investing has been uhm, a bit slow this month. You all know we aren’t very active on this side of our portfolio, and October usually doesn’t stand out as a high performer anyway.
Last year, this time around, we received the big check of one company: Bank of Nova Scotia ($BNS), and for this year we increased the number of payouts to 2 companies! Nike has joined the bench and in total, we have received 14.17 euro for the past month. After 3 years of investing, it doesn’t look as much. But, it does mean a steady year on year increase of 62 percent. Not too shabby.
In last months update, I shared that we had sold stocks of 2 companies – BESI and Marathon – to get some additional cash for our real estate deals. Well, there is going to be a second time. Somewhere this coming month, we have to sell some more. We’ve already taken this into account a few months ago, but we’re delaying to sell the positions in order to get as many dividends while waiting. Which stocks will be the unfortunate ones to get out the portfolio, we don’t know yet. Any thoughts on this are most welcome! Make sure to leave a comment.
The total worth of our portfolio comes in closer and closer to last years digits. Growing steadily from capital appreciation it’s currently standing at 40268.26 euro. A small 16% increase from last year. If everything goes according to our plans, we will start up allocating cash for dividend investing from the beginning of next year. Boosting two of our income streams at once, rental income & dividends.
Real Estate update
I’m just too excited since the closure on both of our real estate venues is coming closer. For unit #1, this will happen at the end of the month. For rental unit #2, we still need to find tenants and do some quick renovations before we let anyone in. This will be somewhere in the last week of November, or early December. So, from the start of December we will expect to receive additional income from not only one, but two rental units!
Our HELOC has come through this past month (used for unit #1), as well as the mortgage on rental unit #2. For the first rental unit, you can read a more detailed report on the financing and expected revenue. For #2, more and more are falling into place and we need to arrange only a few things before we have everything up and running.
In the meantime, we are growing our network, by talking to realtors, other RE investors, and appraisers. We keep looking for new area’s to focus on, building projects that we see in our own neighborhood and continuously modify our strategy as we learn along.
The months to come
There only 2 months left before the year ends. A very short time, where still a lot can and will happen. Besides building our real estate imperium, I’m thinking more and more about the future of this blog and how to move forward. There are endless ideas in my head and have to take some time to see the greater picture of how it all fits together. Nonetheless, I really feel energized with all that is possible and hope to get some of the things started by the end of this year.