February 2012 Blog and Rental Property Income Update

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 you blog, how much you make. I also don’t want to hear shit 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

 

February was a breakout month for my blog. I made $1883.71

 

Woah, that’s a huge improvement over January! I only made $747.48 in January. No small potatoes but, February’s income was 157% more than January’s income.

 

Where did this money come from? I have two sources of blog income: staff writing and advertisements. Both of those areas picked up tremendously!

 

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. The juicy stuff! Most of you have read the posts:

 

Shit my tenants say

 

or

 

How I Spend Only 30 Minutes A Month On My Rental Properties and Still Have Positive Cashflow

 

If you read those posts, you thought one of two things…

 

No way in hell does this guy make money because his tenants suck, or holy hell, I need to start investing in real estate asap!

 

Hahaha.. I even had a few personal finance bloggers (who shall remain nameless) contact me and want me to give them my business plan and contacts so they could copy my real estate plan. I wasn’t that dumb enough to give them all this, and when I declined they decided to stop being my friends (frowny face).

 

But, these opportunists did give me a business idea.  In the future, I intend on creating an e-book giving the step by step breakdown on how to  be successful in real estate when dealing with government assisted properties.  But in order to feel comfortable writing about “what you should do” in real estate I want to have enough real life data.  The other key to this book will be current resources you can use to get off the ground.  From real estate agents, lawyers, property managers, etc etc etc..  In other words, this book won’t be fiction like many of the real estate books out there. “Rich Dad, Poor Dad” anyone?


 

Property 1 (Total Cost to Buy + Fix = 30k)

 


Back Rent Owed $447
Rent Due $922
Rent Received $1069
Property Management Fee $106.90
Repairs $0
Remaining Back Rent Owed $300

 

Property 2 (Total Cost  to Buy + Fix = 33k)

 

Back Rent Owed $150
Rent Due $808
Rent Received $850
Property Management Fee $85.00
Repairs $351*
Remaining Back Rent Owed $108

 

I have a * by the repairs for property 2 because my tenant caused a major blockage in my toilet with paper towels and will be paying me back from her taxes (see shit my tenants say for reference)

 

Rental money deposited in the bank = $1376.10

 

Other Fees/Expenses

 

Property 1 HELOC $130
Real Estate Taxes $166
Property Insurance $84

 

Total other expenses = $380.00

 

Monthly Cash Flow

 

Rental money deposited in the bank = $1376.10

 

MINUS

 

Total other expenses = $380.00

 

CASH FLOW = $996.10

 

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

 

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Comments

  1. Amazing results and really interesting numbers – thank you for sharing. It's so good to see someone sharing about their rental property income as I'm pretty interested in getting more into the rental market.
    My recent post Olympic Medals: Are Gold Medals Made of Gold?

    • URFinanceSimple says:

      Thank you! I appreciate you reading. Is there anything else concerning rental income you would like to see? On Fri, Aug 17, 2012 at 10:01 AM, YFS <yourfinancessimplified@gmail.com> wrote: approve

  2. Great numbers, amazing results, you inspire me! I am looking to start investing in property more – so thank you.

  3. Does your website have a contact page? I’m having trouble locating it but, I’d like to shoot you an e-mail. I’ve got some suggestions for your blog you might be interested in hearing. Either way, great site and I look forward to seeing it develop over time.

  4. This is gonna sound horrible but here goes. Treat your tenants like dogs. In other words you have to discipline them immediately when they screw up. i.e. if they don't pay the rent on time immediately hit them with a late fee and a pay or vacate notice. You have to be really strict or people will just take advantage of you.

    • I agree with you on this one to a degree. Essentially, your methods need to fit the situation and one must recognize the type of tenants in a particular area.

      In the area my properties are located, all the tenants behave his way. Evictions have a price. Not to mention, having to repair the property for a new tenant.

      The key is like you said, trying to discipline the tenant to pay on time. Now, I'm trying to figure out how to do that without getting high turnover.

  5. Great income on both fronts. The bf and I are very interested in being landlords someday when we move to an area with cheaper home prices.

  6. The updates in rental property is quite impressive. The content shows how rental properties increased in number and in income. Nice content. Thanks!

  7. Mate, remind me again where one can buy a rental property for under $35,000! Sign me up! Seriously!

  8. Thank you so much with regard to giving me an update on this topic on your blog. Please understand that if a brand new post becomes available or if perhaps any variations occur with the current article, I would be considering reading more and learning how to make good using of those strategies you share. Thanks for your time and consideration of other individuals by making this web site available.

    ZVN Properties Inc.

  9. You seem to be doing really well; very pleased for you and impressed by the blog income. What proportion is staff writing (you don't have to answer but it would be great if you do. You see, thing is that I can't do that – I write a lot for my work anyway so…).

  10. Wow! Your results and number look amazing! You must do something really clever, these things mustn't be accidental;)

  11. Wow you did really good with your blog income!

  12. Nice. I don't think I could find property that cheap in my area. That's cool though that you are throwing off $1k a month in profits there. It is a bit hilarious though that you have back rent on both your properties. Can't wait for the next installment of shot your tenets say… :)

    • My properties are 600 miles away from me. That's what makes my real estate plan so sweet. 100% passive and can be done from any location in the world :-)

  13. Great post although I think you should some how clearly show the remainder of 'Back Rent Owed' since it doesn't appear that your tenants are all caught up.

  14. Real estate is something I would love to get into to, so publish that eBook! Anyways, Great numbers!

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    February 2012 Blog and Rental Property Income Update…

    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. B…

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