How I Quintupled My Net Worth in 2022

First off, I can hardly believe my own audacity in writing an article about personal finance.

For most of my twenties, my finances were as chaotic as an uncut Michael Bay movie. Whenever I had money, I spent it. I lived as large as an 80s Liberace, with about the same budget for clothes and white leather.

When I decided to quit real estate to focus on writing my first book, I became a starving artist. For three years, I never had more than $40, six tampons, and half a jar of peanut butter to my name. My credit score hovered around 500, because I had defaulted on my student loans.

Then, in 2020, I began working as a caterer in my mother’s restaurant. Slowly, I began to find a nice equilibrium: on Fridays, I worked my rehearsal dinners. On Saturdays, it was baby or bridal showers. During the week, I was free to write.

Gradually, my financial well-being stabilized. I paid off an old medical bill and watched my credit score zoom up 75 points. In December 2021, I worked nine Christmas parties in one week, while also holding a part-time job at Bath and Body Works. Between the two, I cobbled up enough to save for a down payment on my house.

But specifically, how did I quintuple in 2022…?

I Bought My House

In March, I closed on a stunning triplex in my hometown. I used FHA and put 3.5% down.

It was the second house I looked at. As soon as we were done, I asked my agent to make an offer at full ask. Who knew what kind of cash buyers could be touring the place after me? I figured it best not to monkey around. After a weekend, the sellers accepted. Luckily for me, they were highly motivated. An FHA buyer needs as much of a leg up as possible, because it takes, on average, two extra months to close.

I got my mortgage through M&T. My broker was a wonderful guy who sat me down, months before I ever started looking at listings, and told me exactly what I needed. He even got me a few first-time home buyer grants which helped with closing costs! (ask about them — they’re out there)

My tenants now pay my mortgage, my electric bill, and my water bill. This has done wonders for my cash flow. Let’s never…