We are back! We had a great holiday in Belgium over the last week. More details are to follow in the coming week(s) when we review our Savings Rate for April. But first, here is the Real Estate Report – April 2017.
No surprises here, same tenants, same income, all on time again! There is a raise coming for one tenant in July, the others will remain stable for now.
As you can see below our expenses were quite low for the month, this was as expected.
The expenses for the month include:
- Insurance (for buildings and liability);
- Interest costs (mortgage and loan); and,
- Property management costs.
We were able to complete the installation of the second mechanical ventilation unit. Went in pretty smooth and only took a couple of hours. Unfortunately, due to various circumstances, the moisture barrier could not be installed. This is delayed, but not sure till when. We still like to complete these works in May, if possible.
Real Estate Report – Overview and Forecast
We made a total of €2.264 in net rental income for the month of April (before taxes). The net cash-flow will come in around €1900, which is superb! Our total YTD rental income for 2017 is €7.680 (before taxes).
May will have way more pain than April as the bill for the second mechanical ventilation will likely come in. We are also scheduled to pay various taxes (a major one this time). Not sure how June and July are going to look, depends on when the moisture barrier will be installed and if we still need to do the outer walls of two units.
The latter is however up in the air, for a good reason. We might sell these two units to expand the number of properties. We are considering the sale and, in combination with an investment mortgage, buy 3-5 units back. This will aid our return on investment and cash-flow (at least in the long term). Working on the details, but we seem to have two interested parties to buy the properties (read: both tenants).
How about you?? Good stories to share on the Real Estate front?