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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.

 
 

december 2021 - final update

Finally closed this sale at the beginning of December. This marked not only the end of the journey for this house but also my foray into investing in Indianapolis. For this house in particular, we saw insane appreciation and consistent cash flow through the entire ownership period. The buyers inspection revealed significant issues in the crawlspace which probably would have killed most deals. However, since I had so much equity in the deal I was willing to give up over $30k in concessions to cover the cost of addressing the crawlspace issues. This still ended up being a fantastic deal when you look at the numbers.

october 2021 update (under contract to sell)

After about 6 weeks of aiming for aggressively higher rent, I decided to try listing this house for sale. We got under contract very quickly to sell it for $185k (bought for $95k 5 years ago!). The buyer’s inspection revealed some significant issues, which I am crediting the buyer for. But I will still be walking away with a huge gain here. Closes in a few weeks.

September 2021 Update (-$32)

Still vacant, but got the security deposit back. Hoping to get this thing filled soon. Renovations are done, but not paid for.

august 2021 update (-$831)

Vacant this month as the property was being turned over for the next tenant. It needed quite a bit of work.

july 2021 update (+$268)

Last month with the old renters. The city of Indianapolis also caught wind that the property value has gone up, so the property taxes have increased. I should hear back from the PM soon regarding turnover repairs and ETA for listing for rent. Shooting for $1600/month!

If anyone wants a turnkey Indy property that is largely hands off, and cash flowing well, let me know.

june 2021 update (+$354)

Planning to keep for the time being, and rent for the new market rate. Waiting to find the right replacement property.

may 2021 update (+$354)

No issues! I heard some interesting news (and did some interesting research)…

april 2021 update (+$354)

No issues again.

march 2021 update (+$354)

Another good month, let’s go!

february 2021 update (+$354)

Finally back to a normal month.

january 2021 update (-$611)

We had some carryover from the repairs in the last few months, but we should be in the clear and back to positive cash flow territory next month.

December 2020 update (-$745)

More repairs involving a faulty sump pump in a crawlspace as well sewer backup issues. This is the first year this house has ended negative, not cool.

november 2020 update (-$751)

Replaced water heater, and just found out a few other things will be fixed over the next month or two, so cash flow will be pretty poor for a few months.

October 2020 update (+$354)

Another good month, but I hear that I’ll be replacing a water heater soon, killing my chances for a positive year. Woof.

september 2020 update (+$354)

No issues again. This is now my ONLY Indianapolis property.

august 2020 update (+$354)

Nothing to report.

july 2020 update (+$354)

No issues again. This Indy property cash flows like crazy, on average, so I’ll be holding on to it for the foreseeable future.

June 2020 update (+$143)

No issues, but I did get charged a lease up fee since the tenants signed a new lease. Pretty lame, but whatever.

may 2020 update (+$382)

No issues!

april 2020 update (+$382)

Another good month despite the pandemic.

march 2020 update (+$382)

Nice to see a bounce back to some good cash flow.

february 2020 update (+$53)

Most of the cash flow this month went towards paying the balance of the repairs from last month. Hopefully back to normal next month.

january 2020 update (-$2,187)

As expected, I was socked with a major repair of over $2800 which was mainly due to a leak and ensuing water damage. Not great!

december 2019 update (+$382)

Cash flow was good again, making a near perfect looking 2019 graph. Looks like I’ll start out 2020 with a big repair bill in Jan/Feb. It all averages out.

november 2019 update (+$382)

Another good month. I found out I’ll be getting a quite large repair bill on this property soon. I honestly hope it sneaks in before the end of the year (for tax purposes).

October 2019 update (+$382)

No issues again.

september 2019 update (+$382)

Beautiful!

august 2019 update (+$382)

Continuing to perform like a turnkey property should.

July 2019 update (+$382)

Smooth sailing. Mortgage adjusted due to increase in property taxes (lame).

June 2019 update (+$165)

No issues other than getting charged a fee by the PM for extending a lease.

May 2019 update (+$404)

No issues yet again. Also, the tenants extended their lease another year. Rock on!

april 2019 update (+$404)

Not much more to say except these numbers almost look fake (they’re not).

march 2019 update (+$404)

Business as usual.

February 2019 update (+$404)

Another month with no issues. This property rocks!

january 2019 update (+$404)

Great start to the year for my favorite Indy property.

December 2018 update (+$404)

Another great month to finish up a FANTASTIC year for this property, despite the eviction and turnover at the start of the year.

November 2018 update (+$404)

This property continues to hum along beautifully!

October 2018 update (+$404)

Another smooth month - the turnkey properties continue to do well.

September 2018 update (+$404)

Another great month with no issues.

august 2018 update (+$404)

Enjoyed another month with no issues.

July 2018 update (+$404)

No issues with the property this month.  My mortgage on this property has adjusted with a new (higher) tax rate since this is a rental property.  This was quite unfortunate (over $150/month increase) but was expected.  At least I got to enjoy some ridiculous cash flow before the taxes adjusted.

I've adjusted the expected cash flow on this property (and the portfolio) accordingly.

June 2018 update (+$311)

Had a minor repair causing cash flow to decrease, but still positive.  Carry on!

may 2018 update (+$553)

Another month with no issues and great cash flow.

april 2018 update (+$553)

This property is rocking and rolling again.  Cash flow looks great.

March 2018 update (+$29)

Somehow eked out $29 this month - even after paying the lease-up fee and turnover repairs.  Next month looking good!

february 2018 (+$197)

Well that eviction went much smoother than expected.  Tenant was out within two weeks, property was turned in a week, and had a new tenant in a week after that.  When it was all said and done, after collecting the security deposit from the last tenant, it actually turned out to be a positive month! Indianapolis is a noticeably MUCH hotter rental market than Central PA.

March will be a down month for this property as that's when I will incur the lease-up fee from the property manager (1/2 month's rent) and also the cost of the turnover repairs.

january 2018 (-$226)

Only a partial payment came through, and both my property management and myself have had enough drama with this tenant.  The tenant was given a deadline that they could not hit, and is now being evicted.  This will cause one or two more months of negative cash flow, for obvious reasons.  For this month, I'm negative just because the full rent was not collected.  In coming months, I'll have to pay some court costs as well as holding costs.  Indy is a much hotter rental market, so hopefully this should fill quickly.

December 2017 update (+$1,066)

Same as it's been all year...tenant got caught up on payments again this month.  Despite the volatility, this property continues to be a cash cow overall.

November 2017 Update (-$65)

I continue to love the total return numbers on this property, but hate the lack of consistent cash flow.  The tenant is now using a 3rd party "trustee" to pay half of the rent, which adds logistical issues to getting the payment in on time.  Half the payment is coming from the tenant, and the other half is coming in from the trustee.  In this month, the tenant paid on time but the trustee didn't pay!

October 2017 update (+$1,531)

Tenant got caught up, and hopefully cash flow will begin to get a little more consistent.  No repairs.

september 2017 update (+$521)

This tenant is still behind on payments.  I have been working with the property manager and have graciously waived late fees if the tenant can stick to a payment plan and get caught up.  Next month will be make or break: either they get caught up per the plan, or they get evicted.  I sincerely hope they get caught up.

january 2017 - august 2017

Tenant got behind on payments and never got caught up.  The payments always came in, but now I was collecting over $100/month in late fees as well.  Extra cash flow!

August 2016 - december 2016

Happily cash flowing like crazy! No issues at all.

July 2016

Acquired this property at end of July 2016 from a turnkey provider in Indianapolis.  The property appraised for $111K and I purchased it for only $95K, so I started out with an EXTRA $16K in equity.  Plus, the property rented for $100 more than initially promised by the turnkey provider.