As stated in previous posts, me and my wife are purchasing our first property. We have been looking for a home for quite some time and just a few months back we found it. From the day we walked in the place, we felt this sensation of comfort and warmth. I am not sure what that feeling was, but it was much more different than from other listings we went to. Afterwards, we knew exactly this place was it and quickly that same day we submitted an offer well below the asking price. After, a few days of waiting, the buyers counter offered us and we did the same in return. They ended up accepting our counteroffer well below the asking price, making us super excited for such a great outcome.
Once we got the property under contract, me and my wife decided that it would be our best interest not to have a huge sum of money due every month, go figure right? We greatly hate any debt and we have been living debt free for many years. So we needed to scrounge up as much money for a down payment as possible. Luckily, we have been saving our income for the last few years and living well below our means. We both enjoy the simple things in life that are mostly free and enjoyable to spend time together and with our friends. Though when we do spend money, we are much more prone to spend it on experiences than on things, and sometimes paying for good food is a must. Overall, the mindset that we have been living with has caused us to accumulate large sums of money, continue having zero debt and to build my income producing dividend growth portfolio well on the way to six figures.
The stock sales are strictly intended for downpayment on the property. It is nothing major that would deteriorate my portfolio, it is just a small cut in the pie.
Here is the breakdown of my sales:
- Sold 11 shares of KMP @ $94.37 for a total of $1,038 (Full Stake)
I decided to sell KMP here because with recent merger I would have received more KMI shares and overweighing my KMI allocation.
- Sold 10 shares of PSA @ $186.80 for a total of $1,868 (Full Stake)
This company has been on fire and so this was tough to sell. The main reason behind the sell is to minimize portfolio REIT holdings and to diversify into other sectors.
- Sold 443 shares of ARCP @ $8.2 for a total of $3,632 (Full Stake)
This is quite unfortunate what has happened with ARCP, as it has been just an amazing investment gone berserk. First came the accounting scandal, then the CEO resigning and to top that off ARCP released news in suspending the dividend until they get their sh*t straightened out. The speculation on my part was inconceivable, but you live and you learn. I am just thankful it happened sooner than later, as there are plenty of other great investing opportunities.
Total – $6,538