June 2018 - Income Report
Welcome to the June 2018 rental income report! I'm getting really close to stabilizing My Second Property, which should conservatively cash flow $150 per month and range up to $300 a month. After another minor repair on My Second Property, I'm really looking forward to July to see this property performing how I envision it should.
Honestly, these reports are going to be pretty bare for at least another month as I look to ramp up the number of doors I have after selling off My First Property earlier this year. Here are the June details:
My First Property
I bought this single family house in December of 2016 and SOLD it in May of 2018. 2 Bed/1 Bath. C-Class neighborhood. NO JUNE INCOME. See how it performed HERE.
My Second Property
I bought this single family house in March of 2018. 2 Bed/1 Bath. B-Class neighborhood. It's currently rented to two medical students on a 12-month lease.
Pretty straightforward month, although I did have a $152 maintenance expense to install a couple new window blinds in the kitchen and bedrooms. Luckily, for some reason, there were brand new blinds sitting in a box in the house when I bought the property, so I was able to install those. I also had to remove an old AC unit from the garage.
Gross Rents: $995
Property Taxes: $216.32
Property Management: $89.55
Income ($995) - Expenses ($848.62) =
Cash Flow: $146.38
FULL PORTFOLIO CASH FLOW: $146.38
My June cash flow was right around $150 and that's exactly what I expect from my current portfolio of just one property. Because I always account for maintenance/repair expenses, again, this falls in line with my expectations. Hopefully, next month I'll be closer to the $300 cash flow range. I don't expect many maintenance/repair issues for awhile now.