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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.
june 2019 update (+$347)
No issues, tenant is moving out at the end of July.
may 2019 update (+$394)
No issues this month, lease ends in a few months so should be interesting to see what happens. This is a problem tenant and hopefully we can make a somewhat graceful separation.
april 2019 update (+$1,437)
Tenant has partially caught up and the (very lenient) judge is giving extra time to catch up fully. Thank god my PM is dealing with all of this on my behalf. Embrace the chaos.
march 2019 update (-$621)
Got an economic vacancy (fancy term for non-paying tenant). Tenant has been taken to court and claimed they can catch up completely when they get their tax refund back. America.
February 2019 update (+$30)
A break even month with a minor repair and the tenant struggling to pay full rent. I’ve concluded that my last four BRRRR’s (Lightning #1, Lightning #2, Bat Cave, and Unicorn) will be on an eternal roller coaster ride. I’m hanging on tight and embracing the chaos!
january 2019 update (+$394)
We had a minor repair but still great cash flow this month.
December 2018 update (+$490)
Another month with no issues, and the tenant paid a full month.
november 2018 update (+$494)
Tenant paid a full month but is still 1/2 month behind from last month. We will see if they get caught up. I have little faith, based on previous experience.
october 2018 update (-$5)
Tenant is already having payment issues which is obviously a huge bummer. I am grateful that I have a property manager who takes on the tenant babysitting that is required when this happens. I am working with him on raising tenant screening standards for my properties, which hopefully will yield better results on filling future vacancies. Until then, we ride the roller coaster.
September 2018 update (+$380)
First update for the latest rental to come “online” - refi complete, got a tenant and paid lease-up fee, and made the first mortgage payment. This was my first deal from direct mail. In terms of baseball this deal is a single or maybe even a bunt. The expectations have been raised and a 15%-20% projected cash-on-cash return is the absolute minimum acceptable return. I took this deal due to a few factors, including that it is right down the street from Lightning #1 and Lightning #2.
Why am I calling it the Bat Cave? Well, I’m running out of creative names for properties and the tenant thought there were bats in the house when they moved in (there weren’t).