May 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 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.  Google Paid me 133.15 dollars from adsense, my very first adsense check.  I’m averaging about 2 dollars a day from adsense now, it’s very surprising.

Despite the having 0 pagerank, I’m making some good money.  In May, I made (including adsense money) $648.15

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.

Well in may we finally closed on property number 3.  See the posts below if you want details about that.

Rental Property #3 Numbers Analysis
We Have Officially Purchased Rental Property #3

Any who, by the time you read this post the repairs should be completed and we should be interviewing tenants.  I can’t wait to get this property filled and move on to the next deal.

Property 1

Rent Due

$922

Rent Received

$721

Property Management Fee

$72.10

Repairs

$48.60

Back Rent Owed

$702

 

Property 2

Rent Due

$808

Rent Received

$608

Property Management Fee

$60.80

Repairs

$0

Back Rent Owed

$641

Rental money deposited in the bank = $1147.50

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 $261.68
Real Estate Taxes / Property Insurance / Random Stuff $506.34

 

Total other expenses = $768.02

Monthly Cash Flow

Rental money deposited in the bank = $1147.50

MINUS

Total other expenses = $768.02

CASH FLOW = $379.48

This isn’t too bad for 5 minutes of work a month and an 100% passive investment. The more properties we add, the more money we will make and the sooner we can reach our goals.  We are currently renovating property #3 and should have it rented soon.

Total Monthly Income:

 

The income sources talked about in this article represent 2 of our 6 sources of income.  In total we brought in $1932.15 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.

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

 

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