The first quarter of 2025 brought major changes and costs for us. How did we fare in the second quarter?
You can check the latest and greatest info on the Track Our Progress page.
First, the numbers:
Net Worth:
- End of Quarter 2 Balance: $1,863,291 Up $122,480 from Quarter 1.
- Year to Date (YTD): Up $160,426 (9.4%)
- Since January 2018 (this is when I started tracking our net worth): Up $1,558,291
Portfolio:
- End of Quarter 2 Balance: $1,387,045 Up $88,707 from Quarter 1.
- YTD: Down $1,094*1 (-0.1%)
- Since January 2018: Up $1,147,045*
*This is total value as opposed to an internal rate of return.
1 We sold investments in Q1 of 2025 to buy property
Super Spender
Last post I discussed how Q1 was the most expensive month of my life. Q2 wasn’t too far behind.
We continued to pour money and time into the property that we acquired in Q1. My 2025 goal for the property is to get sustainable access to it (including grading for a driveway and shed, a gate, and gravel), and water and electric service ran. In Q2, we got the earthwork completed as well as the gravel and gate installation. We also got the shed ordered, and a brush cutter ordered and delivered.
Everything was more expensive than originally estimated, of course. As the old saying goes, “anything that is worthwhile, costs twice as much and takes twice as long.”
I believe it.
We also contacted the water company to get a meter set and met with the electric company. The water service appears to be in line with my estimates, but… boy, oh boy, did I miss on the electric.
We have several utility poles bisecting the property. Good right? Wrong.
Contrary to what our real estate agent said, none of them are apparently distribution poles. Rather they are all transmission lines. Doh! The nearest serviceable pole is on the other side of the road and smack dab in the middle of our neighbor’s property. This means that we would be responsible for getting them to agree to an easement. Aaaaaaannnd, for overhead lines, we would need to cut down 40 feet of THEIR tree line along the road, along with another 40 feet of OUR tree line… the same tree line that offers screening from the road.
That’s a non-starter on several fronts.
We “might” have an option to bore the electric underground and under the road, but likely at 4 to 5x the cost of aerial wires.
At that price, solar becomes a very attractive option. Time to go down another rabbit hole. I smell another DIY project coming on.
Careful What You Wish For, You Just Might Get it!
I’ve laid out my rationale for buying this property and I stand behind it. Full Stop.
However, in addition to being a lot more expensive than anticipated, these things always tend to be a lot harder than you originally thought.
I mentioned the misfire on the electric service above, but other items that have popped up include the following:
- Neighbors immediately wanting permission to fish our pond
- Trespassers… a bunch of them
- Neighbors immediately wanting us to sell them acres
- Our grading contractor going to the emergency room after a medical issue while working there (he’s fine now)
- A massive transmission line project requiring contactor access through the gate and on the new road we JUST put in.
- Shed delivery taking way longer than quoted.
It’s been a lot. But I have a vision for the place and I KNOW the payoff is real. Stay tuned for updates later in the year.
Mrs. HOF Moved Jobs Again!
My wife took a new job at the end of May. I am super pumped for her, as the last place was no longer a sustainable option. The new job is also remote and at a smaller local firm. She was also able to get a couple weeks off between the old and new job. A longer break like that is so rare (I haven’t had 2 consecutive weeks off since 2007!!). Even better, we no longer have to deal with once a month paychecks!
Early returns on the new position are promising. Plus this job pays a bonus!
Coming Up in Q3
We’ll take our longest RV trip of the year to Colorado. I can’t wait for our kids to see some real snow-capped mountains, and enjoy the mountain air. Also, bracing them for the vast wastes of crossing kansas. (As a MIZZOU grad, I am legally prohibited from capitalizing the k in that state). And before you know it, the kids will be back in school before the end of the quarter.
There are some large looming expenses coming up in Q3, including paying for water service, the remainder of the shed cost, potentially paying off the UTV, and whatever the electrical solution will be (boring it, or going off-grid with solar and batteries). One of these days our spending will come back down to earth!
Thanks for reading!