Like what you see? I'm always adding more content.  Click SUBSCRIBE! to receive email alerts every time I make an update.

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.

 
 

august 2022 update (+$7,294)

One tenant caught up from multiple months behind, and I think paid a few months ahead as well.

january 2022 update (+$1,621)

We are just today completing a cash out refinance for this property. It appraised for $95k more than our purchase price nearly 18 months ago, and after putting about $76k in rehab and holding costs into it. The refi will allow us to pull out all of our renovation money plus a little bit of our initial down payment (which actually came from a 1031 exchange). We are left with $46k in the deal and we can now allocate the cash out into new investments.

november 2021 update (+$1,528)

First month of having both units rehabbed, rented, and cash flowing. Very nice.

october 2021 update (+$345)

As of the end of October, we have a new tenant on the rehabbed side. Next month we will get it appraised and complete the cash out refi in a month or two. This will cash flow like crazy!

september 2021 update (-$2,600)

Paid property taxes. Rehab is done (gonna cost nearly $70k when it’s all said and done, geez) and the vacant unit is listed for rent. I’ll be pursuing a cash out refi soon to pull out that $70k.

august 2021 update (+$486)

Rehab is under way and should be done by the end of September. Until then, holding steady with the one tenant on the rehabbed side.

july 2021 update (+$269)

Inherited tenant from purchase 10 months ago is finally out! (including ducks/chickens)

I’ll be doing an identical rehab on the vacant side as I did on the other side. Once that’s done, and rented for $1300, I’ll be able to refinance which will make this quite a profitable project.

june 2021 update (+$663)


may 2021 update (+$3,578)

I think the tenant is completely caught up now! At this point we will start trying to get the inherited tenant to move out. That unit is under market rent (and needs work) and even though the tenant caught up, they have not proven to be a very good tenant long term.

april 2021 update (+$1,430)

The tenant who has barely paid since I bought this place 7 months ago is starting to catch up in big chunks.

march 2021 update (+$436)

Continuing to kinda limp along with only one paying tenant. We’ll be collecting a little bit of rent from the other tenant next month.

february 2021 update (+$503)

We still have one non-paying tenant in this 2 unit. But cash flow is still great.

january 2021 update (+$561)

First positive cash flow month for this property. Although, this will continue to be a tale of two very different units. One side was fully renovated at the end of 2020 and has a good, vetted tenant paying $1300/month. The other side has an inherited tenant who is multiple months behind. As of now, we are trying to work with the tenant and rental assistance programs. This will be an ongoing project this year.

december 2020 update (-$905)

Not a great start, but we are patiently working though the issues. We now have a tenant placed in the rehabbed unit (paying premium rent) and are working on payment plans with the inherited tenant. The ultimate goal will be to get the inherited tenant out (as gracefully as possible given the current eviction ban situation), and rehab that unit as well.

I’m telling you guys, the cash flow will be HUGE once both units are rehabbed and rented at market value!

november 2020 update (-$166)

This is a 2 unit property with 2 garages in the back. I acquired this as part of a massive 2020 1031 exchange. I bought 2 others in that transaction, and this one had the most issues, but I also got the best deal. One side was vacant and in need of rehab, and the other side has a tenant who is not paying.

As of the time of writing, the one side is nearly done with rehab after investing nearly $30k, and we have a tenant lined up to move in on January 1st. We are still working on what to do with the inherited tenant…our hands are tied due to COVID related eviction restrictions. This property will cash flow well once we work through these issues. The plan is to refinance after completing rehab on both units. Until then, I’m using the appraised value from purchase ($195k) so my equity numbers will look a little weird temporarily. The goal of the eventual refi will be to pull out the rehab dollars plus hopefully some of the down payment.

Named this one Going Postal because it’s next door to the post office.