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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.
july 2018 update (-$758)
Long story...where to start? I ended up hearing from one of my tenants that the property manager was at best negligent, and at worst, straight up lying to both me and my tenants. There were multiple issues of deferred maintenance which caused safety issues for the tenants. I ended up having to step in and get my contractor to fix the worst of the issues, before firing the manager. I take safety (and any maintenance issue) very seriously and expect my property managers to respond promptly and professionally. Especially with a property like this where I've got great tenants who pay on time ALL THE TIME.
I now have all my Central PA properties with the same manager, which long term will be simpler to me to manage. We still have some lingering maintenance items that need to be fixed, so I might have some lean months upcoming for this property.
June 2018 update (+$63)
Eked out some cash flow despite having to pay for a new water heater for one of the units.
may 2018 update (+$516)
Great cash flow, even though I had to pay the expensive sewer bill this month.
April 2018 update (+$639)
Good month, although had to pay for the water bill, electricity bill and some plumbing repairs.
march 2018 update (+$892)
Another great month. This property carried the portfolio this month.
february 2018 update (+$933)
The Central PA 4 Plex "cash flow love affair" continues! My top priority is cash flow, but it is interesting to note that I'm starting to get some pretty good debt paydown (over $300/month) on this property as well. Not a bad side benefit!
january 2018 update (-$561)
I had some predictable expenses this month: had to pay water, sewer and trash, as well as the annual landlord license fee. These all amounted to over $1,000 which caused the negative cash flow. Next month is looking good!
December 2017 update (+$913)
I'm continuing to love this property and the returns get better and better as rents come up. B/C class multi-family is where it's at, baby! January will be break even due to utilities but I see no reason we can't have another awesome year with this 4 plex.
November 2017 update (+$1,070)
This property continues to be the bedrock of the portfolio - Old Reliable - and was the only positive cash flow property this month. Next month is looking fantastic so far.
October 2017 update (-$900)
We paid utilities this month, plus were hit with some expenses from last month's turnover. All easy to plan for, and next month is looking good.
september 2017 update (+$91)
Another turnover/vacancy this month, but the previous tenant moved out on the 15th and new tenant moved in on the 22nd. Awesome! Plus, this allowed me to raise the rent from $595 to $625. We are slowly working to get all 4 units up to $625 (2 out of 4 so far).
january 2016 - august 2017
I've really been pleased with this property ever since the property manager got some of their own tenants and raised rents up to market. There have been a few turnovers but the units filled in less than a week. I pay water (January & July), sewer and trash (January, April, July & October) which is why those months appear low, but utilities are easy to plan for. This property has a low cash on cash, but it is consistent and predictable, and provides a nice backbone to the portfolio. I wouldn't mind having a few more of these types of properties.
July 2015 - December 2015
I didn't have tracking in place until January 2016. But I can tell you it was not a smooth start. My new property manager was put to the test immediately and had to evict one of my inherited tenants. Due to the vacancy (the tenants were still there but not paying) plus cleanup/repair costs, I essentially broke even on cash flow on this property for 2015.
Acquired this property (my first one) in June of 2015. Started with a local property manager immediately.