HI all
Just reading through my rental net sheets from years past. My goal is to smooth out the homes this year and next and realistically complete any lingering 'large repair/upgrade items' this year and then go to maintenance mode
The homes had a lot deferred maintenance items when they were bought. some large (roofs whatever). I got them at super reduced price but realizing I maybe could have gotten them lower (with wht I know now or have learned) .. maybe not. in either case.. I GOT the homes which is a big step in and of itself
Realize that currently all net goes to the mortgages(I am paying these off on a SUPER accelerated rate). 6 homes already paid off, 3 units will be paid off 3/2018
So, my NET if I did not have a mortgage was
2014- $20945 (w repairs/vacancy charges of $50884)
2015- $34288 (w repair/ vacancy charges of $37674)
I am going to set a goal to hit $60k NET (before mortgage for this year). Looking at spreadsheets my major factors that I can control are VACANCY and REPAIRS. I wil track those closely and can more easily do so with the new manager
I am forecasting approx $20k of large repair costs outside of normal wear and tear. which includes roof, siding, driveways. I am starting that this week. I have no other large repairs forecasted and day to day repairs are runnning WAY LESS than last year. I still want to reduce my large repair costs year to year and am coming to the end of the list. realistially this siding/roof I do not HAVE to do but thimk it makes sense long term
A learning year and probably a wild ride but got to get this smoothed out so I can depend on it more. It has been a wild 2.5 years so far.
Rachael
Rental nets from years past-true numbers
March 21st, 2016 at 03:43 pm
March 22nd, 2016 at 04:53 am 1458622398
March 22nd, 2016 at 01:28 pm 1458653328
March 22nd, 2016 at 01:35 pm 1458653758
March 22nd, 2016 at 03:47 pm 1458661650
March 23rd, 2016 at 11:05 pm 1458774359
March 24th, 2016 at 01:37 am 1458783458