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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 2022 update (+$288)
We filled one vacancy and are back up to full strength. Paid tenant placement fee in January.
july 2021 update (-$1,610)
Paid property taxes plus quarterly sewer/trash.
may 2021 update (+$997)
Man, I love having consistent performers like this!
april 2021 update (-$446)
Paid property taxes but other than that, the property continues to perform.
march 2021 update (+$954)
Living up to the slow and steady nickname! Also, got the garage rented out for extra income. Will pay property taxes next month which will bring cumulative down significantly.
february 2021 update (+$611)
Paid a property tax bill, and still had great cash flow.
january 2021 update (+$815)
Another good month, looking forward to see this property perform this year. So far, a great re-allocation of capital.
december 2020 update (+$1,037)
Great month with no issues. The property is on a commercial loan which does NOT escrow taxes and insurance. So, months with no taxes will look high and months where taxes are paid will look low. This is why the cumulative graph matters more to me.
november 2020 update (+$137)
This is a 3 unit property with a garage. I acquired this as part of a massive 2020 1031 exchange. This property is in a nice area and is in pretty good shape overall. At purchase, each unit was a $50-$100 below market rent, and the heat is not split (i.e. landlord paid). My plan is to raise rents and install mini-splits (a.k.a split the heat) as tenants move out. This will increase my Net Operating Income (NOI) and the value of the building. Once this is complete in each unit, I’ll do a cash out refinance to pull out my rehab money and hopefully part of the down payment as well. I’m doing the same thing with Going Postal.
This one is named Slow and Steady because I don’t expect crazy returns, but I should get some really good tenants and consistent cash flow.
I had a tenant move out shortly after I purchased, and we immediately split the heat for that unit and re-rented it for $50 more.