Real Estate Income Report – May 2017

Real Estate Income Report – May 2017

My real estate portfolio currently consists of 6 rental units.  The monthly reports highlight the income and expenses associated with each property as well as the total monthly profits or losses. May 2017 House 1: $950 House 2: $825 House 3: $850 House 4: $850 House 5: $850 House 6: $650 Total Income: $5,000 – Ahh, if only that was all profit.  Now for the expenses. (One tenant payed a $25 late fee, again :-)) Mortgages / Loans: $2,913 This number should remain the same throughout the year. Repairs: $140 – clogged…

New Car Follies – Rental Cars

New Car Follies – Rental Cars

I am currently driving a brand new Nissan Maxima.  No, I’ve not lost my mind and spent 35,000 – 40,000 on a 4 door sedan.  It is a rental supplied by my insurance company.  I have a rental, thanks to a group of teenagers using their car to re-arrange the front end of my Ford Focus.  They hydroplaned around a corner, and smashed head on into my wife, as she calmly drove to work.  Thankfully, the car was the only casualty, as all humans involved were fine. After some inquiries,…

Real Estate Income Report – April 2017

Real Estate Income Report – April 2017

My real estate portfolio currently consists of 6 rental units.  The monthly reports highlight the income and expenses associated with each property as well as the total monthly profits or losses. March 2017 House 1: $950 House 2: $825 House 3: $850 House 4: $850 House 5: $850 House 6: $650 Total Income: $5,000 – Ahh, if only that was all profit.  Now for the expenses. (One tenant payed a $25 late fee, hence the increase over last month) Mortgages / Loans: $2,913 This number should remain the same throughout the…

Boston Marathon

Boston Marathon

I’m not feeling well.  I traveled over the weekend, and it appears I’ve brought back some type of viral infection.  At times my joints ache, and I’m overcome with fatigue.  My body temperature swings wildly, often culminating in excessive sweating.  This leads to a nearly unquenchable thirst and a persistently dry mouth.  After doing some research online, it appears these symptoms can last for months, sometimes years depending on the severity.  I’ve come down with a virus called the marathon.  This virus is highly contagious, as over 30,000 people were…

My 4th Rental Property

My 4th Rental Property

My 3rd property had been successfully renovated and rented.  I had payed cash, using my father’s line of credit, and once all the repairs were completed, I was able to acquire a mortgage for the property.  This allowed me to pay off my father’s line of credit. In the spring of 2013, I felt it was time to use this strategy again.  I stuck to my script and began looking at 3 bed / 1 bath properties.  With minimal searching, I was able to purchase a property for $43,500.  Unlike…

Real Estate Income Report – March 2017

Real Estate Income Report – March 2017

My real estate portfolio currently consists of 6 rental units.  The monthly reports highlight the income and expenses associated with each property as well as the total monthly profits or losses. March 2017 House 1: $950 House 2: $825 House 3: $850 House 4: $850 House 5: $850 House 6: $650 Total Income: $4,975 – Ahh, if only that was all profit.  Now for the expenses. Mortgages / Loans: $2,913 This number should remain the same throughout the year. Repairs: $0 Utilities: $0 Insurance: $0 Taxes: $2,441.08 Monthly Cash-flow: $-379.08 (this is…

Make a good choice; Daily!

Make a good choice; Daily!

Every Tuesday at 6pm, I meet with other members of the FandM Track Club for our weekly speed workout.  There are usually between 20 and 40 runners of various paces and ages.  In the past, I have aligned myself with some of the fastest members of the group.  Many are former college runners who usually grind me into the crevices in the track. This year, I often start the workout with this group, only to quickly be placed into purgatory, left to circle the track alone, without the benefit of…

Monthly Fitness Challenge

Monthly Fitness Challenge

If you have been reading carefully, you probably know that I’m a runner.  When in a good training cycle, I run daily, missing only one or two days per month.  At my best, I’ve run over 60 miles per week.  Each week, these runs include a track workout, a long run, and a tempo or fartlek run in addition to several comfortable pace runs.  In order to be at your best, its essential to run at different intensity levels for varying amounts of time weekly. In 2016, I had one…

I’m a money Alchemist!

I’m a money Alchemist!

Unicorns, the Lock Ness Monster, Dragons, all are mythical creatures.  They exist in fantasy and the imagination of many, yet at one time their legend was so strong that many would have insisted they were real.  A different kind of fantasy was practiced throughout history, as alchemists attempted to combine various materials and substances in order to create gold.  Unfortunately for the alchemists, none were successful.  Then as today, if you wanted more gold, you needed to go and find it hidden within the earth.  No combination of materials, heat…

Looking back can sometimes show us the way forward

Looking back can sometimes show us the way forward

I enjoy reading about others who have achieved financial freedom, it motivates and inspires me to do the same, sometime however, it makes me impatient.  These people are where I want to be, doing things I want to be doing, and yet here I am with student loans totaling $45,668 and a mortgage balance of $113,620. I want to pay off these debts, invest in my tax advantaged accounts, and continue to grow my real estate business.  As you can see, I have several different goals, all competing for my…