April 2012 Blog and Rental Property Income Update

Sorry that this is late.. I’ve been busy :-)

Well, since I’m no longer anonymous I’ve decide to be a bit more upfront about our income. No, no, no, not our personal income. No way am I telling you that and getting karate chopped by Mrs. YFS… Hey, I don’t have to say that anymore now, do I? Mrs. Brown.. ahh that’s better.

I’m not telling you my personal income because my wife wouldn’t like it, and I still have a day job, and last time I checked it wasn’t too smart to tell your co-workers, who secretly read your blog, how much you make. I also don’t want to hear crap from our facebook friends or real life friends. I hate when people say “you got it” or “put me in your budget” ughh…

Enough rambling, onto the numbers!

Blog Income

 

My page rank is still 0, but my traffic is higher than ever, hell google is about to kick me out a nice little adsense pay day too.  I’ll tell you about that next month.

In March, I made $645. Not too shabby, how did I do in April?

Well I made 375.53 from blogging.  I’m holding up pretty strong for a google pagerank orphan :-).
 
Where did this money come from? I have two sources of blog income: staff writing and advertisements.

By the way if you need a staff writer, feel free to contact me at yourfinancessimplified (at) gmail (dot) com

 

Rental Income

 

Now onto the 100% passive stuff.

Stuff just got real…  The star of the post  Shit my tenants say

Is on her way out the door, she was becoming a hassle and tearing up our rental.  Please tell me how a tenant breaks a water heater??  She was trying to be slick and contact my repairman on the side, so he can come and fix it without me finding out.  At least she tried, but I’m confused as to how one breaks a water heater.  /scratches head.

By the way, we are still moving forward with property #3 despite a few idiotic comments from the sellers lawyer.

We are conducting an all cash deal and discovered a few issues that need to be fixed prior to closing.  The sellers attorney says, “We will offer a credit at closing”.

I immediately think, “Huh?, What chu talkin’ bout willis?”

This is a cash deal sweety, lower the purchase price you silly wabbit.

She eventually caught on and lowered the price accordingly.  We are not in the process of repairing property #3.  You can check out the numbers analysis below

Relevant post:  Rental Property #3 Numbers Analysis

Property 1

 

Rent Due

$922


Rent Received

$721

Property Management Fee

$72.10

Repairs

0.00

Back Rent Owed

$501

 

Property 2

 

Rent Due

$808

Rent Received


$800

Property Management Fee

$80

Repairs

$0

Back Rent Owed

$116

 

Rental money deposited in the bank = $1368.90

Other Fees/Expenses

Upon further review of other fees/expenses we decided to factor in possible increases in taxes, property insurance and include a “random stuff” fund.  The numbers you will see below are 10-30% higher than the actual amount.

 

HELOCS

$130.68

Real Estate Taxes / Property Insurance / Random Stuff

$424.00

 

Total other expenses = $554.68

Monthly Cash Flow

Rental money deposited in the bank = $1368.90

MINUS

Total other expenses = $554.68

CASH FLOW = $814.22

This isn’t too bad for 5 minutes of work a month and an 100% passive investment. We are closing on property 3. The more properties we add, the more money we will make and the sooner we can reach our goals.

Total Monthly Income:

The income sources talked about in this article represent 2 of our 6 sources of income.  In total we brought in $1896.53 of revenue from blogs and real estate work.  We fully understand this is a long-term process.  It will take us 10 years or more to be where we want to be income wise.  By adding assets at a pace we can handle and improving our processes and systems we will surely hit our mark.

Call to action!

Leave a comment with your best tip for managing rental properties or managing a blog.

 

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Comments

  1. I like how u emphasize the long term. You are seriously going to be laughing to the bank 5-10 years from now.

    I’m kinda scared about the difference in rent owed and back rent though. Do they just not pay??

  2. Good stuff!! I like how you lay out all the numbers for your rental properties. Whatchu talkin bout Willis…lol

    My recent post Why I Love Having a Female Boss

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