Welcome to Spending Notes, where we do a weekly deep dive into how our readers spend their cash.
Today: a real estate investor who makes $90,000 a year
Occupation: real estate investor
Age: 44
Location: Milwaukee, WI
Salary: $90,000 (approx. $2,600 per pay period)
Day One
I’m a Milwaukee-based real estate investor who owns three, soon to be four, properties. Real estate is a really good way to build wealth. When you invest in your property, you invest in yourself! Today, I’ve been looking up services for bathroom remodeling in Milwaukee. I’m in the middle of a flip, and the place is in desperate need of bathroom remodeling, from tubs to toilets. The previous homeowners didn’t make updates in years, and I’m on a tight schedule. I just called Mad City Windows & Baths to get some pricing in a completely free consultation. They’re a bathroom remodeling company that could really amp up the value of the property.
Total: $0
Day Two
With my birthday coming up, I’ve been itching to go online and shop preowned luxury watches. I went for it and dropped a pretty penny on a Rolex watch from 1991. But can you blame me? It’s a Rolex! Plus, what better way to celebrate turning 45 than a nice luxury watch? I usually browse for these on WatchBox. At some point, I’d like to get myself an Audemars Piguet to celebrate a personal accomplishment. Once I accomplish my business goals, I’m excited to spoil myself with a really expensive watch in due time!
Total: $3,896.38
Day Three
It’s going to be a busy workday. I have to fill up on gas on my way to check on one of my properties. Then, I have to run a lot of numbers and reach out to a couple of homeowners who may be looking to sell below the asking price. It’s a hot market right now. Some of the homes I’ve been looking at are in need of some pretty big repairs, though.
Total: $60
Day Four
I decided to take the rest of the day off because yesterday was jam-packed. By noon, I was free to do whatever I wanted. So, I lounged around on the couch and then took the kids to a movie. T. and B. were really excited to watch a movie because it’s been a while. We shared some popcorn but brought our own drinks. T. snuck in some candy in her little coin purse.
Total: $36
Day Five
Decided to have a nice dinner with my partner, L., tonight. We shared a cocktail to celebrate the end of the workweek. However, I usually do some work on the weekends, too, because there are always small tasks to do. Plus, if I’m remodeling a space, it’s nice to check up on the weekends when no one’s around. I told L. about the Rolex and she asked if there were any other luxury watches on my wishlist.
Total: $42
Day Six
The grind never stops! It may be a weekend, but I like to keep hustling no matter what day it is. I grabbed some coffee while everyone else at home slept in till about 10 A.M. Having a quiet morning was really nice while it lasted. I finished working at around 2 P.M. and then called Mad City Windows & Baths to update them on the whole bathroom situation. We talked numbers for fixtures and bathtubs and looking to start putting in orders come Monday.
Total: $3.50
Day Seven
I don’t mess with a Sunday ritual. For me, that’s a quick stop for coffee and donuts and taking a family walk at the park. After that, L. and I drop off the kids and do some grocery shopping together. While it’s a chore, it’s still a great way for us to spend some quality time while getting things done.
Total: $96
Total for the week: $4,133.88
