What an awesome way to spend the first few months not having a job! As you know, each month I post updates of what has been going on with my passive income businesses and my progress as I quit my job. The month of February was super exciting AND eventful!
This month’s update will be short and sweet. My family and I are currently in Japan on a six-week family vacation site-seeing and visiting family. We planned this trip last summer before we decided to move to AZ and already had the tickets purchased. Now that we are here, it was all worth it.
So, to give you an update, let me give you are timeline of things that have been going on in my life:
- Purchase a home in Arizona
- Tenants decide to move out
- Decide to move into the house in AZ to be closer to my wife’s family for a few years.
- Took six weeks’ vacation from my job to use up the rest of my vacation time before I quit
- Purchase a home in Arizona
- Jan 6th, Purchase one Akron property for $22,500. It is already rented for $650 a month.
- Jan 17th, Quit my job the day after my six weeks’ vacation was over.
- Decide not to rent out my Fresno property because we could possibly make $100,000 from the sale of our home. See last month’s update for the before and after remodel pictures.
- Finish remodeling projects around the house: tile second bathroom, paint all bedrooms, kitchen, and hallways, trim, de-cluttering, staging, etc.
- Stucco the entire house. New Carpet installation. Concrete poured. Spruced up the front and back yard for curb appeal.
- Feb 2nd, Tenants move out of the AZ property.
- Prepared our Fresno home for sale.
- I believed the value of the home was around $320,000. (Purchased the home in 2010 for $210,000 and spent $40,000 remodeling it over the years)
- I listed the home at $297,000 to get as many people to see the property and hopefully get a bidding war for it.
- People looking for $300,000 and less homes will see my listing because their criteria is $300,000 and below. My house will show up on their alerts.
- Listed the house on Feb 6th.
- Feb 7th first offer for full price
- Feb 8th second offer for full price
- Feb 9th, first offer came up $3k
- Feb 10th, second offer came up $6k
- Feb 11th, Open house showing to 15 buyers. Everyone said the home was amazing and it would sell fast.
- Feb 11th, third offer for full price
- Feb 12th, second offer came up to $306k
- Feb 12th, third offer came up to $311k
- Feb 13th, fourth offer came in for $321,000!
- Feb 14th entered escrow with fourth offer with a 30-day closing.
- Continue writing my fourth book: “Exit Here… The 16 Real-Life Lessons Before You Quit Your Job and be Successfully Unemployed”
- March 1st, load up a 26’ U-Haul and a 6’x10’ trailer.
- March 2nd, drove myself and my father to Phoenix AZ a 600-mile round trip and unload the U-Haul immediately after arriving from the 10-hour trip.
- March 4th, fly back to Fresno to be with the family to get the house cleaned out for the sale of the home.
- March 6th, purchase a home in Akron for $28,000. Will rent for $750-$800.
- March 7th, drive to Los Angeles to fly to Japan at 12:05am flight. Fly through Shanghai, China with a 4-hour layover, 24-hours later we arrive at our destination. A six-week family vacation in Japan.
- March 9th, finish the rough draft of “Exit Here…” 38,000 words long! 10,000 words longer than my first book.
- March 10th, finally able to relax and write this month’s update…
So, this has been a very busy few months. Like I told my wife before we got married: “If you marry me, we will never have a boring life.”
How are you doing with your businesses and passive income? Are you closer to quitting you job? Let me know how you are doing in the comments below.