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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.
september 2019 update (+$316)
No issues - but due to overall poor performance over the past few years, this property is also for sale (as is Indy Hipster House).
august 2019 update (+$316)
No issues again.
july 2019 update (+$366)
Another good, quiet month for this property.
June 2019 update (+$349)
Back to normal after the big repair from last month.
May 2019 update (-$2,185)
Another painful CapEx experience for this property. This time it was a new concrete porch and steps that cost about $2,500. This property is a total dog and needs to be let go. I get periodic emails from my Indy PM about investors looking for “turnkey” houses to buy in Indianapolis. I’m thinking I’m going to take that opportunity if/when it presents itself again.
april 2019 update (+$349)
Another good month and I’m back on par with YTD projections.
march 2019 update(+$349)
Bounce back month to get back to break even for the year.
February 2019 update (-$698)
I had a few dumb repairs in this property that totaled about $1,000. This property is pretty much the opposite of Indy Rancher #2. Maybe I should rename them accordingly? Any suggestions?
january 2019 update (+$349)
All Indy properties firing on all cylinders for the first month of the year.
december 2018 update (+$179)
Barely positive after another minor repair. Nice to see this property end with positive overall cash flow despite the gigantic major repair back in March.
november 2018 update (-$154)
Neutral cash flow this month due to having to install a new sump pump.
october 2018 update (+$349)
Nice rebound from this property since the major repairs at the start of the year.
September 2018 update (+$349)
Another quiet month and looking good.
august 2018 update (+$349)
No issues - another strong showing from Indianapolis.
july 2018 update (+$349)
No issues again - which is good considering the carnage throughout the rest of the portfolio.
June 2018 update (+$353)
Another quiet month for this property, just the way I like it.
may 2018 update (+$353)
No issues this month.
April 2018 update (+$353)
No issues this month.
march 2018 update (-$1,556)
As discussed below, the team in Indy is repairing the leaky basement. These repairs have been expected for months so I've been easily prepared for it.
february 2018 update (+$353)
Another good month, but this is the calm before the storm. I've been dealing with ongoing issues with water getting into the finished basement in the property, and I feel like I'm talking to the PM about it every other month. We are finally going to mitigate it, and it's not going to be cheap. Mitigation will include installing a buried leaching basin and extending drainage from the sump pump and rear downspout into the leaching basin. Water sucks!
january 2018 update (+$353)
Another month of no issues on this property.
december 2017 update (+$353)
No issues this month, and rent continues to roll in.
November 2017 update (-$429)
An $800 furnace issue caused the negative cash flow this month. These things happen.
October 2017 Update (+$353)
Another month of no issues, but I'm waiting to hear back on the plan to fix the basement / water issue. Still expecting some expenses to come from that, but they just haven't hit yet.
september 2017 update (+$353)
First official update for this property. I have been happy with performance so far this year, but I just heard from the turnkey provider/property manager that there will be some more expenses coming up soon. The bottom line is that this property sits on a high water table and there is water pooling up in the back yard and there is also periodic leaking in the basement. Hopefully the expenses will proactively mitigate the problem and minimize future issues. The team on the ground in Indy has been excellent so far in dealing with a difficult situation, especially considering that we have a less than happy tenant.
January 2017 - august 2017
Finally starting to stabilize this property.
September 2016 - december 2017
Still experiencing some lingering clean-up expenses from the flooded basement.
July - August 2016
Basement flood in this property totaling over $5K in damages.
Acquired this property at end of May 2016 from a turnkey provider in Indianapolis.