My rental cash flow and rent collections for March 2016 went very well. All but one was collected by 3/5, although I did have more difficulty than in previous months. One renter still needs to pay an additional $150, which will be paid on 3/18.
When a renter need to make the rent payments in multiple days, make sure you get a sizable chunk at the first of the month. Do not let a renter pay on the 15th, and more on the 25th. At some point, you will be evicting, and you will be a month behind.
I had another renter that may be an issue, and some vacancies coming up. The month was not as smooth as previous months, here is how the rental cash flow went…
Continue reading “Rental Cash Flow February 2016 – March 2016”
The rental cash flow for all of 2015 was the best ever in my history of a landlord. I had several apartment turns, but minimal vacancy between the turns. I am hoping that my last (half) year of working at my full time job goes well, and the cash flow continues for many years to come.
I am still working on procuring the next rental, and we have run into some title issues that are being addressed. I have the property locked in, but it’s not final. It should produce a solid 15%+ cash on cash return, with room to spare. It should also add an additional ~$500 a month to my rental cash flow.
I was able to save a record amount in my 401K, IRA, HSA and after tax accounts. All my tax deferred accounts were maxed out. I saved enough for me to live on for a few years…
Continue reading “Rental Cash Flow December 2015- January 2016”
2015 has been a great year in terms of rental cash flow. It is the first year I have actually tracked rent increases, vacancy and next year’s potential increases. I have always tracked income and expenses, but as I get close to retirement, I think it is a great exercise to track these other things.
I also signed a purchase agreement for another building. I was not looking for another rental, and this one sort of came up. It is a bit outside my normal purchases, and will add a few extra dollars to the bottom line. Hopefully, in due time, it will be one of the greatest purchases I have ever made… I will give a short briefing in this report, and save the rest for a more detailed post in the future.
Continue reading “November – December 2015 Rental Cash Flow”
Holy crap has it been busy. And I thought last month was busy. It was also expensive, and might have even been a bit negative on the cash flow side of things… There were a few repairs, and continuation of my remodel on a unit that was vacant. As always, rents came in on-time, but I added a couple of upcoming vacancies that will be coming due.
When life throws you lemons, you make lemonade. Rentals are not always fun, but I can assure you they are profitable, if you can manage them right.
Continue reading “July – August 2015 Rental Cash Flow”
The past few months have been pretty busy. The rental cash flow has been as expected. I have had several turnovers, and some other maintenance issues to take care off. Luckily, all is well and the rentals have moved forward for another month.
Hopefully you have had a chance to look at some of my other cash flow posts and have been following my retirement countdown. As I get more detailed in my own retirement dashboard spreadsheet, and add more check points and cross checks, I realize this next year of working is mostly an exercise to put the final nail in the coffin of the cube farm.
So here is how the past month went…
Continue reading “June – July 2015 Rental Cash Flow”
Getting your rental cash flow on time is the name of the game. Mine is almost like a broken record. Rent is due, rent gets collected. If you are a landlord, collecting rents on time is what you want. For a landlord with only one or two properties, getting rents on time should be routine. Keeping track of 24 properties is a bit more of a challenge. I have done this for quite some time, and it all has to do with getting great tenants.
Continue reading “May – June 2015 Rental Cash Flow”
The rental cash flow was a solid as ever. All of the 25 rents were all collected and deposited mostly by the third of the month, again. It is a rather boring record, but if you have ever been a landlord, you know this is a great achievement. I did have one rent that arrived on the 5th due to a bill-pay error?, and a $225 partial rent paid for the remaining sum owed on the 8th. The bill-pay error was more due to forgetfulness, than an error. These are solid tenants that are moving out to buy a home, so they have plenty of money.
So here are some of the cash flow highlights of the past several weeks…
Continue reading “April – May 2015 Rental Cash Flow”
It seems like I get pretty busy doing things, and the rental cash flow reports get put to the way side. As last month, all rents were collected on time. This is not too difficult, as great tenants pay rent. There are also ways to get rent on time, and remind tenants about when rent is due.
Continue reading “March – April 2015 Rental Cash Flow”
Hopefully everyone’s rental cash flow and rent collections are going well.
All 25 of 25 rents were collected and deposited mostly on-time. I was able to place at least four renters so far this year, with one vacancy coming up for May 1. Rents have been bumped up just a bit for 2015 on the turnovers, so my monthly gross income, before expenses, should be up quite a bit over last year. I was able to raise rents just a bit in 2014 too. And I have bumped up the rent on one renter for April 2015.
Continue reading “February – March 2015 Rental Cash Flow”
There are a lot of landlord discounts out there. I often talk with homeowners who are doing remodeling on their home. They might be buying Sheetrock, paint, appliances or any other remodeling project. Some of them spend several thousands of dollars on the project and are do it yourself people. They are generally too frugal (i.e. cheap) to hire a contractor at $100 an hour to do the work, so they do it themselves.
When I ask if they are getting their discounts, they give me a deer in the headlight look. They know enough to save money on most everything, but not on a remodeling project.
Continue reading “Are you getting Your Landlord Discounts (also homeowners)?”