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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.
january 2019 update (+$248)
Great start to the year after having a perfect year in 2018. Using my new projections from my recent analysis, the long term expectation for this property is to break even on cash flow. As long as I keep this good tenant, I can beat that expectation. When they move out, it will be time to look at selling - possibly FSBO to a retail buyer.
December 2018 update (+$248)
Another great month putting an end to a literally perfect year. This property has me questioning how to budget for repairs/capex in newer properties (this was built in 2011 I believe). There are significantly less in newer properties.
November 2018 update (+$131)
No issues, again!
october 2018 update (+$248)
All quiet on the Central PA townhouse front.
september 2018 update(+$339)
Happy to see this property continue to have a great year.
august 2018 update (+$131)
No issues again. I had to pay the sewer bill which caused the cash flow to lower slightly. This is billed back to the tenant on a pro-rated basis so I'm getting reimbursed every month.
july 2018 update (+$241)
Last year's "dog" of the portfolio continues to hum along slow and steady.
June 2018 update (+$241)
Another month with no issues.
may 2018 update (+$209)
Another month with no issues, and the tenants are staying at least another 12 months. As long as they stay I'll hold onto this low cash flow property in an appreciating area. When they move it will probably be time to cash in on the appreciation (sell) and move the money into a higher cash flow property.
april 2018 update (+$202)
Another good month - I might actually make some decent cash flow off this property since the maintenance is so low. Also good news - the tenants were on a six month lease originally but decided to extend another year!
march 2018 update (+$250)
Good month for this property, no issues.
february 2018 update (+$24)
Eked out a measly 24 bucks this month. This will be the sad reality for most months as long as the rent stays this low.
january 2018 update (+$441)
Nice to see some positive cash flow for the first time in half a year from this property. I got a little extra bump from a check from escrow overage to make this number a little more juicy. Note that going forward I'm not expecting a lot of cash flow for this townhouse. My initial target rent was $1550 but due to the extended vacancy I dropped it all the way to $1295, giving up $255 of monthly cash flow. On average I really will only pocket $50-$100 per month going forward.
December 2017 update (-$532)
The back half of 2017 on the graph looks like a murder scene, but as I stated before the bleeding has been stopped. I paid the lease-up fee, then got my first rent payment in a long time for this property. Now that the lease-up fee is paid I'll be back to break-even or maybe a little bit cash flow positive next month.
November 2017 Update (-$1,352)
This is the last full month of vacancy. I am beyond excited to stop the bleeding next month. I'll get a partial payment in December and then full cash flow...finally...in January. The new tenant is on a 6 month lease and has a high probability to renew, 12 months at a time, after that. Then I'll be back on track to either fill the vacancy in the busy summer months OR sell when the market is hot.
October 2017 Update (-$1,099)
Still vacant at the end of October! We had a tenant lined up but they backed out at the last minute. Ugly, ugly vacancy! And this is not a good time of year to try and find a tenant. We are dropping the asking price to just get this thing filled and stop the bleeding.
As of the time of this update (mid-November) this has finally been filled at a lower rent rate. I will have to pay the leasing fee next month and will finally start cash flowing in January 2018.
september 2017 update (-$3,584)
Not only has this property been vacant for three months, but this month I got socked with the bill for replacing the carpets in the whole house. I have way too much "portfolio risk" in this property...when this property is vacant, the whole portfolio suffers. Not to mention that I think at a higher rent rate ($1550) less tenants qualify, which decreases the potential renter pool. I hope to have this vacancy filled by the end of October and stabilized.
July 2017 - august 2017
Vacant property, with indecision from PM on proper listing rates, as well as a complete breakdown in holding the tenant responsible for some expensive carpet damage. Unacceptable. New property manager acquired at end of August, but the damage was done.
July 2016 - June 2017
It was a nice 12 months, with tenants who were barely there (retirees in Florida, I think) and paid via direct deposit.
May 2016 - June 2016
Property was vacant. I handed it over to a property manager who got the vacancy filled.
January 2016 - april 2016
Found a short term tenant (4 months) and self managed.
Acquired this property in December 2015. Terrible time to buy a property that needs a tenant!