Storage Wars Part II – Renovations

Storage Wars Part II – Renovations

Part II – Renovations to 368 Ice Ave. As you now know, or if you don’t, read this first, in 2014 I had bought a house along with its contents.  Now that the house was empty I could assess the situation and begin renovations.  As if undressing, we’ll start at the top and work our way down.  The upstairs windows needed replaced, and in two locations the plaster walls were crumbling due to moisture from long ago (there was no sign of current moisture problems).  There were decent wood floors,…

Storage Wars – How I bought a house filled with stuff.

Storage Wars – How I bought a house filled with stuff.

By 2014 I had become a wily veteran of real estate investing at least that’s what I liked to pretend whenever I fantasized about collecting rent checks, renovating attractive properties, and using my vast resources to fund various goodwill projects.  In reality, at this time I owned 4 investment properties, one of which was constantly filled with annoying tenants who were always surprised that when one month ended another would begin. Related: House 1, House 2, House 3, House 4 With this in mind, I called up my realtor (link to…

Real Estate Income Report – June, July, Aug, Sept. 2017

Real Estate Income Report – June, July, Aug, Sept. 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. I haven’t issued a real estate report since May, mainly because I had grown lazy and stopped working on the blog.  Luckily, I’ve still been keeping track of my income and expenses, so I will attempt to get everyone up to speed and I promise to be more diligent with my reports in the future.  I also need to…

Leaky toilets and noise complaints: Why I invest in real estate.

Leaky toilets and noise complaints: Why I invest in real estate.

One of my favorite things, is buying houses.  Sorry to startle you there, I’m sure you were expecting something harmless like drinking beers, playing fantasy football, or using my hand to un-jam the snow blower, all quality activities in their own right, but I rather like buying houses more then any of those other pastimes.  Generally speaking, I go for the ugly ones, they need bought too. I dress them up, and rent them out. I imagine it’s like being a pimp, except I’m dealing with property and not people,…

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…

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…

Real Estate Income Report – January 2016

Real Estate Income Report – January 2016

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. January 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 is slightly different then my December total due to adjustments to my escrow payments.  This happens each year…