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Portfolio Updates

June 2019 - Portfolio Update

7/5/2019

2 Comments

 
Welcome to Jump In Real Estate's June 2019 rental income report! We're on a roll here as I had another clean month with limited expenses. I also got lucky on a vacant property being turned over super quickly.

The tenant in My Second Property had a lease that expired on June 8th. Well, technically it ended at the end of May, but I let my property manager know that I'd allow them to extended it into June in exchange for another full month of rent. 

Luckily, I got a new tenant in that property and they signed their lease at the end of June! Check out my June Income Report below!
​
​My First Property
I bought this single family house in December of 2016 and SOLD it in May of 2018. 2 Bed/1 Bath in a "C" Class neighborhood. NO JUNE INCOME. See how it performed HERE.
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My Second Property
I bought this single family house in March of 2018. 2 Bed/1 Bath in a "B" Class neighborhood. It's currently rented on a 12-month lease.
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As mentioned earlier, I had a tenant move out on June 8th (I had them pay a full months rent) and a new tenant moved in on June 28th. That means I got a little bonus rent from the new tenant as they paid prorated rent for 3 days.

Income
Previous Tenant Rent: $995
New Tenant Pro-rated Rent: $99.51
TOTAL: $1,094.51
​
Expenses
Mortgage: $369.42
Property Taxes: $216.32
​Insurance: $44.50
Property Management: $98.51
Repairs: $0
TOTAL: $728.75

Income ($1,094.51) - Expenses ($728.75) = $365.76
Cash Flow from My Second Property: $365.76
​
​

My Third Property
I bought this duplex in July of 2018. Both units are 2 Bed/1 Bath in a "B" Class neighborhood. The lower unit is currently rented to a young married couple and the upper unit is rented to a young professional.
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Another very boring month...which I don't mind! I had no expenses other than mortgage, taxes, insurance, and property management. I love clean months!
​
​Income
Gross Rents: $1,725
TOTAL: $1,725

Expenses
Mortgage: $725.24
Property Taxes: $221
​Insurance: $60.50
Property Management fee: $172.50
Repairs: $0
TOTAL: $1,179.24

​Income ($1,725) - Expenses ($1,179.24) = $545.76
Cash Flow from My Third Property: $545.76

​​
​
My Fourth Property

This is an 80-unit apartment complex in Louisville that a group of partners and I purchased. It was acquired for $2.25 million and we're investing $1.05 million into it over the next 7-9 months. Cash flow isn't expected until July of 2019.
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​I have yet to receive a June update from the partners running the deal. So, that's a little concerning. They've been late the past couple months on updates and I HATE lack of communication. I have to follow up with them ASAP. Cash flow is still not expected until Q3 of 2019.

FULL PORTFOLIO CASH FLOW: $911.52

​It was great to have another clean and straight-forward month. I was admittedly worried about the vacancy of My Second Property, but luckily I got a new tenant in there quickly! Also, all my cash flow is going straight into my reserves for future expenses and I'll hope for another clean month in July.

***VERY IMPORTANT NOTE: even though I brought in positive cash flow after all my expenses, I'M NOT TOUCHING any of it! This income goes toward my next investment and any future expenses. I have a day job and side-hustles to cover my lifestyle :)

If I ever get to the point where I actually want to take the cash flow, I would still only take about half of it and save the remainder for future expenses. This is SUPER IMPORTANT! ALWAYS factor in future vacancy/repair/maintenance expenses. Make sure you know how to properly calculate cash flow HERE.

Let me know if you have any questions!

​-Tyler
2 Comments

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    10. March 2019
    11. April 2019
    12. May 2019
    13. June 2019
    14. July 2019
    15. November 2019
    16. March 2020
    17. April 2020
    18. September 2020
    19. January 2021
    1. June 2018
    20. March 2021
    22. September 2021
    2. July 2018
    3. August 2018
    4. September 2018
    5. October 2018
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    7. December 2018
    8. January 2019
    9. February 2019

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