February 2012 Blog and Rental Property Income Update

Cash-Flow-Management

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.

 

Call to action!

 

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

 

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