Editorial Disclosure: Opinions, reviews, analyses & recommendations are the author’s alone, and have not been reviewed, endorsed or approved by any of these entities.
Hi from Oklahoma City! I have a house under contract here and am scheduled to close in two weeks. Hell on an intro, eh?
I figure it can be a primary residence, and later on, an investment property. I’m finally getting started with real estate investing.
My rate is 3.125% and I’m getting a great deal on a nice-sized house – 4 bedrooms and 2 full bathrooms. My monthly payment for mortgage, property tax, and insurance will be ~$1,500 – which was my monthly nomad budget. The urban core area is on the up and up. It’s on a quiet dead-end street with only 9 houses.
Of course I’ll want to buy furniture and spruce the place up a bit, which will cost more money. But I figure it’ll all even out.
This means my nomadic adventure of living on the road is coming to an end soon. But for the best reasons possible – I’ll get to spend more time with my son, start buying investment properties, and make art again. I’ll also get to keep up with my health and exercise goals a lot more easily.
I’m nervous, excited, second-guessing everything, and ultimately deciding to take all of this on. It’ll be good. I feel it.
But, my net worth is gonna take a short-term plunge – right when I was getting to the halfway mark. What a journey!
In This Post
November 2021 Freedom update
My other big news is I officially have $200K invested!
As you’ll see, my current net worth is $240K, so investments are basically all of my net worth.
View this post on Instagram
I hit $100K invested on July 22, 2020. So it took about a year and three months to add another $100K. As of today, I’m working toward my third $100K.
This includes my 401k, Roth and traditional IRAs, taxable brokerage account, and a small amount of crypto.
House house… house!
So… I’m buying a house. I’m putting 5% down and locking in a low interest rate. There were other places I wanted to go on my nomadic adventures, but I feel it’s time to make room for other things. There will always be places I’ll want to go. But I want to be here for a while.
And, there are a lot of other factors at play that aren’t my story to share. Suffice it to say that this decision transcends finances, but is about family and connection and having a stable place. I believe this’ll be a good long-term move that will set me up for the next phase of my life – which includes being closer to my bio-son.
In a way, I’ll still feel free. There is a lot of good for me here. I want to be part of that goodness for a while.
Plus – financially – it’s time to diversify and add some equity and real estate to my portfolio. The plan is to keep this house around for a long, long time in one way or another.
Net worth gyrations
Because of the house purchase, the $30K I had in savings will go toward the down payment. So my net worth will fall later this month. But really – I’m just moving that money into another place. I don’t think I’ll ever lose it.
But, it’ll take some time for my net worth to bounce back after the sale is done. And all the furniture. And the repairs I want to make, including adding central heat and air. (The house is from 1938 and still has AC window units and a gas furnace. Yay modernity!)
I’m also potentially getting another – actual investment from Day One – property in New York state. It’s a place I found over the summer while I was in the Catskills. That place is under contract too, and I’m looking to close on it right after the Oklahoma place.
I’m also being gifted three acres of land in Arkansas. So in another month, I could potentially go from nomadic and houseless to having three pieces of property with a combined total worth of $500,000. Holy smokes.
But I get ahead of myself. My point is: net worth fluctuations are coming, but so is a lot of other stuff.
By the numbers
I had a stretch goal to get $15,000 into my taxable brokerage account my the end of the year. It’s looking more and more like that isn’t going to happen.
I also worked really hard to put $30,000 in savings. Between the move and property purchase(s), that’s probably going to sink closer to $0.
In 2022, my goals will be to bulk up my savings again and invest extra cash in my taxable brokerage account.
But for this year, I’m on track to max out my 401k, and have made some huge and significant financial progress. Here are the numbers:
|Current||Last month||Change||2021 Goal|
|Overall investments||$200,190||$184,870||+$15,320||As much as possible|
|401k (contributions only)||$15,833||$14,167||+$1,666||$19,500|
|Traditional IRA||$118,923||$110,917||+$8,006||xx (can't contribute)|
|Net worth in Personal Capital||$240,017||$226,460||+$13,557||$500,000 (overall goal)||Track your net worth with Personal Capital|
Overall, I’m pleased with my progress. I’m really glad to be borrowing bank money for a home loan. Other people’s money, baby. OPM.
And there are other things in 2022 that will help me financially that I’ve been working on. I can’t say just yet, but… things are shaping up to be really, really good. I can’t wait to share everything!
This past month found me:
- Hitting $200K in investment accounts
- Putting a house under contract in Oklahoma
- Putting an investment property under contract in New York state
- Continuing to invest 25% of my paycheck into my 401k
- Um that’s a LOT going on there
- Yes, that’s definitely enough for one month
I didn’t even get to tell y’all about driving from New York to Vermont to Delaware to Virginia to Tennessee to Oklahoma. It’s been… a ride (literally). Everything moved so quickly once it got going. I’m fairly breathless at the moment.
You can also follow me on Instagram for more pics and stories over the next few weeks. Thank you to everyone who reads these updates. It’s the world to me. 🌌
Stay safe and scrappy out there – more updates to come! ✨
-H.* If you liked this post, consider signing up to receive free blog posts in an RSS reader and you’ll never miss an update! And thanks for using my links to apply for new card offers!
Out and Out has partnered with CardRatings for our coverage of credit card products. Out and Out and CardRatings may receive a commission from card issuers.
- Capital One Venture X Rewards - Earn 75,000 Venture miles plus a $300 annual statement credit for travel booked through Capital One
- Chase Ink Business Preferred - Earn 100,000 Chase Ultimate Rewards points after you spend $15,000 on purchases in the first 3 months and 3X bonus points per $1 on the first $150,000 spent on travel and select business categories each account anniversary year
- Amex Blue Business Plus - Earn 15,000 Amex Membership Rewards points and 2X bonus points on up to $50,000 in spending per year with NO annual fee
The responses below are not provided or commissioned by the bank advertiser. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.