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Discussion Starter #101
Interesting month this past month: in checking numbers, it appears I was short paid last month on a quarterly payment, which they corrected this month. Also, have decided to pick up a 1/3rd interest in a rental property; closing on the purchase will be late this year but the terms are set. It won't be a great rental - its 3 hours drive away and the purchase price of the property is not conducive to cash flow. Thankfully others are closer. However, under reasonable expectations it will hopefully break even and the lands are in a very good infill potential when the market turns. So it is a bit of a capital gains play hoping that oil recovers in the next 5-10 years.

The property that has been in the family for over 60 years so its really just putting some cash towards keeping it in the family; and I'm only into this for 1/3rd. I'll just buy it using available margin. I've had it appraised and am getting my interest at basically appraised value. However, it needs renos prior to renting and are currently pricing these out / deciding what we can DIY on this. Its more a hobby purchase than anything (but a pricey one). In 5-10 years we'll see just how bad of investment this was.

I'm hoping once it is renovated we can refinance it to get enough funds out that can be placed in a blue chip portfolio that covers the holding costs on the property (with any rental income being the 'profit' and being paid against the principal balances). Even though I likely have equity in my interest in the property now, I'll leave it 'off the books' until there is a cash outlay to fund the purchase.

Assets
TFSA 1: $760.00 ($100.00 monthly contribution)
TFSA 2: $103,700.00
RRSP: $274,000
Non-Registered (CAD): $98,000 (reported net of margin of around $40,000)
Non-Registered (USD): U$97,000 (no contributions, no margin in use)
Gold: $102,000
Savings Account 1: $6,500
Savings Account 2: $100

Corporate Current Account: $17,000.
Corporate Investment Account: $682,000 (contributed $40,000 which clears margin and puts it into a cash balance at the moment; have to rebalance and make some purchases).

Liabilities
Margin Loan: reported net.
MasterCard: around $2,600 (revolving balance, paid monthly)
Visa: $0.
Lines of Credit: $0
Corporate MasterCard: $1,000
Corporate Line of Credit $0

Liquid net worth is around $1,383,000 (+$90,000 from July).
 
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