Really amazing.. highest net income month so far!
Filled that one vacant house
The other unit is filled (with guy moving in the 1st). we decided to wait for this guy as he is real good vs filling it sooner with other folks.. it is only 2 more weeks.
My total repairs (per the management company) so far for this year are approximately $5000 across EVERTHING!!
however I paid for $24500 in long term improvements and then that one house turnover. so 'repair, improvement' costs I paid for are approximately $27000
But I definately feel and SEE I got something for my $27k and the homes are improved because of it
In contract (cringing) with the old management company I was charged $27k (for the whole year) but for various misc repairs that never seemed to add up and if I were to look at the homes at the end of last year they did not look like they had that money spent on them at all
Feeling VERY good with this new management company. LOVE the reports.. love how tenants respect them and fall into line. love how things are handled
I am still on track to NET $60k this year even with my $27k improvements..This NET is assuming the homes were paid off with no mortgage... I have 21 months to go .. but tracking now gives me an idea of where I will be. AND that $24k improvement stuff I did this year. I do not have to do that again for a LONG LONG TIME.. if at all really..
Other good news..
I am renewed through year end..
I am also at $998,500 net worth. I will announce when I cross that $1mm mark.. most is still home value but savings/investments up to $247k and climbing.. still trying to hit $310k by year end
I will have completed the 401k contributions after my next two checks. that was taking 25% of my check. After that I will put that money towards savings . investments
Feeling I am starting to turn the corner!
Thanks all for the support and gentle feedback (haha) during the earlier times.
Archive for June, 2016
I filled that house w the Section 8 lady.. she moves in today. other homes are stable. I still have not filled that apartment.., we are on the 3rd app though. First two did not screen well. Hoping for good news today. We are still showing and getting lots of action
40 days of vacancy from that house (over half of that spent fixing up the house though)
10 days of vacancy on this apartment so far
I saw someone else tracking DAYS of vacancy per units so I wil do that myself. good way to track and you can only improve what you track.
Last year under the other property manager it seems like I had months of vacancy (well I did at least on that one house) . I will look back through leases etc to figure out last years days of vacancy..
I still owe $5k back to my emergency fund so hoping to get htat paid off in these next 2 months.. and then I need to build that I think to $25k so I feel more secure having money flow in and out of it.. This time i had to use almost all of it to pay for some items but did not feel comfortable doing so so put in cash of my own
I can do that while I work and makes so much. in the future I do not want to do that
My goal is to save $4500 this month and put that into investments and then starting August to save $6k plus into investments each month
My net worth now is $991k ($9k down from 1MM) but most of that is real estate. I want more investment and cash net worth
Goal this year was $310k total investment/cash net worth (not including rental emergency and other funds). I am at $239k so an incredible $70k to go into essentially 6 months.. a stretch goal..
I was thinking of doing the 3 stock portfolio plan from Bogleheads with my money and just sticking to that with the majority of investing and then using a 'smaller amount' which is undefined yet to try other investments out or pursue other (Stock) investments. What do you guys do?
and thinking on 'financial freedom'.If no big hiccups I should have all these properties paid off by June 2018.. but realistically w this big house mortgage (currently $300k) I will not feel 'financially free'.. even if I reach my goal of $450k investing too. I need to do something about this mortgage. I also am thinking I need a year w this new property management company to feel good too. I also need to have a 'passionate goal or plan' and really do not have that (yet). My goal is to pay off all these properties and get the cash flow but then what
Working on all the above.. just posting..
Currently no plans to move from where I live now but just doing a quick check reveals several homes which are on the bike path (in other neighboring towns) with large lots, older homes with hardwood floors etc.. which I like and are less $$ than the house I live in now.. One even had a coach house which would be sortof fun and I would love to be on the bike path or nearer to downtown. The hsoue I have now ... though near the downtown of our town is NOT in the downtown and again the people are less friendly..