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…

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…

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…

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…

What have you been up to?

What have you been up to?

Today, I’d like to a chance to provide some updates on past projects or themes that we’ve discussed on this blog. Related: Student loans, why I could have paid them off but didn’t. Debt Demolition:  We currently have two loans, a student loan, and a mortgage.  Currently, we are focused on paying down our mortgage in order to obtain a home equity line of credit.  This will allow me greater flexibility in pursuing my real estate investing.  During January and February of 2017, we have only made the minimum payments…

Real Estate Income Report – February 2017

Real Estate Income Report – February 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. February 2017 House 1: $950 House 2: $825 House 3: $850 (+$25 late fee) House 4: $850 House 5: $850 House 6: $650 Total Income: $5,000 – 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: $196 One property had…

Ask How?

Ask How?

Everyone has different goals and lifestyle expectations.  For me, achieving financial independence is high on the list. Not because I hate work, or because I’m manically trying to accumulate as much money as possible, but rather because I want to pursue my passions without concern to their monetary reward. Others may feel that my goals create a restrictive depressing life which eliminates all fun.  While some others may be fine living paycheck to paycheck and burning through cash like a sparkler on the fourth of July! I’m not here to…

What’s stopping you – FEAR

What’s stopping you – FEAR

I’ve been trying to post every Monday, Wednesday, Friday, which means I try to at least have a draft typed the day before.  Yesterday, I didn’t get anything done, but luckily this article came to me last night when I was supposed to be sleeping.  I was / am a bit grumpy so this article may take on a bit of a rant form, but given today’s topic is fear, maybe that fits just fine. Fear, rational or otherwise tends to hold us back and prevent us from accomplishing things…