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The top of this page displays a Dashboard Summary of all of my key performance metrics. Scroll down for a detailed month-by-month account.
february 2022 update (-$181)
Paid property taxes.
january 2022 update (+$12)
Paid for insurance for the year.
august 2021 update (-$248)
Paid property taxes but other than that, all good!
may 2021 update (+$563)
All good!
april 2021 udpate (+$661)
Completed a cash out refi which brought our cash in the deal to effectively zero, and reduced the monthly principal & interest payment (and taxes and insurance are not escrowed).
march 2021 update (+$540)
No issues.
february 2021 udpate (+$553)
No issues.
january 2021 update (+$485)
Smooth sailing.
December 2020 update ($553)
A great year and perfect example of how patience will pay off. The first 6-9 months were not great for this property but it’s rocking and rolling now.
november 2020 update (+$651)
No issues again.
october 2020 update (+$495)
Onward.
september 2020 update (+$555)
Another good, quiet month.
august 2020 update (+$689)
All quiet.
july 2020 update (+$248)
No issues.
june 2020 update (+$556)
Rent was a little late but all things considered, no big deal!
may 2020 update (+$659)
No issues this month!
april 2020 update (+$1,348)
Once the federal stimulus deposits/checks went out, these tenants caught right back up. I still expect a roller coaster ride, but it appears the stimulus checks plus unemployment will save the day.
march 2020 update (+$1,090)
More catch up payments as we continue to ride the cash flow roller coaster. Things are gonna get REAL in the next few months…
february 2020 update (+$661)
As noted last month, I got two months’ worth cash flow in February. This tenant is falling behind so we’ll keep monitoring. Tax refunds get paid soon, so that might catch them up.
january 2020 update (-$668)
No deposit was made this month, with a huge asterisk: although the tenant did pay (late), my PM is holding the rent until next month to pay for an unrelated project at a different property. This makes January look bad but February will make up for it. Same applies to Lightning #1.
december 2019 update (+$661)
Solid end of the year!
november 2019 update (+$358)
No issues again, tenants falling behind again, which seems to be common this time of year.
October 2019 update (+$615)
No issues, tenants fell a little behind in September then caught up in October.
september 2019 update (+$310)
No issues again.
august 2019 update (+$426)
No issues, that’s a pretty looking graph!
july 2019 update (+$431)
No issues again, carry on.
june 2019 update (+$570)
No issues, collected some late fee income.
May 2019 update (+$461)
No issues again. Rock on!
april 2019 update (+$497)
No issues this month. Nice to see this property bounce back from a rough start last year.
march 2019 update (+$357)
I had a few more repairs due to the frozen pipes. Still great cash flow, carry on.
February 2019 update (+$501)
Minor repair due to frozen pipes but still heavy cash flow.
january 2019 update (+$711)
Great first month, no issues, and even collected some late fee income.
december 2018 update (+$421)
Back in positive territory, hopefully ready to rock and roll in 2019!
November 2018 update (-$384)
I got a tiny deposit for this property (first one since June) as a decent amount of the rent was applied to cleaning and turnover. The tiny deposit was not enough to cover the mortgage, so I’m still in the red.
october 2018 update (-$659)
Tenants moved in, all expenses and lease-up fees are paid, time to start cash flowing again next month.
september 2018 update (-$601)
The property was vacant this month with a dip in rental demand after the start of the school year, coupled with an increase in our tenant qualification standards. We’ve got tenants coming in next month on a 18 month lease. This was an annoying vacancy, but much easier to swallow in a cheaper property with a cheaper mortgage.
august 2018 update (-$601)
Tenants have been officially evicted and the property is being marketed for rent. The security deposit and last month's rent should cover the turnover expenses with possibly some leftover. Let's hope we find a (quality!) tenant soon so we can start cash flowing again.
july 2018 update (-$601)
Wow, didn't take long for the tenants to stop paying! This tenant is being evicted and should be out in a few weeks. I had a discussion with my property manager about tenant quality and we both agreed we need to raise our standards. I'm concerned about the overall pool of tenants in this area now.
Here's a little bit of silver lining: my property manager collected both first and LAST month's rent up front. This means I'll get the last month's rent plus security deposit when they finally move out. This should soften the blow and hopefully cover the missed payments plus a little bit of turnover expenses.
June 2018 update (+$524)
First update for Lightning #2, now that the property is filled with a tenant and I made the first mortgage payment this month. No issues this month!
To learn more about how lightning can strike twice, click here.