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Filled the house and more updates

June 10th, 2016 at 07:59 am

hi there

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..
Rachael

2 Responses to “Filled the house and more updates”

  1. snafu Says:

    While tracking 'vacancy days' it's helpful to use a symbol to easily identify days the units were 'out of use' due to repair/maintenance. Your previous manager seemed to have serious numbers in that category.

  2. Rachael777 Says:

    I think that is a great idea and actually I only took about 2 weeks to fix up that house. I will make some chart thsi weekend. The homes are going SO MUCH smoother I can hardly handle it. We just filled the 3 unit with what looks to be an excellent long term tenant and all my major costs this year were for long term improvements vs last year so much went for vague unknown repair or fix up. I only have 20 more months until the 3 units are paid off! The 3 units are my major payment each month. over $5k.. and then 6/2018 will pay off the 2 flat too.. With this company too I am really getting the rent increases. w the last two companies. never really got much of rent increases UNLESS I turned over the units with new tenants which was not managed well and was very costly. learning and growing!

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