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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.  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.  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.  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.  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
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