After figuring out that the journey to FIRE is horrible and all the talk about FIRE and ethics, its time to look at the cold hard cash we received. It’s time to take a look at the Real Estate Report – November 2017 edition.
Real Estate Report – November 2017
Our rental income for November remains well above the €3.000 mark. There are (unfortunately) no new developments to report. Still looking at ways to expand our portfolio, one way or the other (yes, we are picky, so it takes time). If you want an example of how this works, this comes to mind:
Just put in an offer for a 3-plex at 20% under asking. Pretty good idea where this is going…… pic.twitter.com/dWrbVaaxoq
— Cheesy Finance (@CheesyFinance) November 27, 2017
The monthly income overview is provided below:
The expense for November were quite low again. The expenses consisted of the usual:
- Mortgage and loan payments,
- Management fees; and,
- Maintenance on the heating systems of two units (the other 3 are done in December).
The expenses for the month are as follows:
Real Estate Report – Overview
We made a total of almost €2.281 in net rental income for the month of November (before taxes). The net cash-flow will come in at around €1.800 for this month.
Our total YTD net rental income for 2017 is now about €21.129 (before taxes), the associated net cashflow is around €17.000.
Real Estate Report – Forecast
One of our relatives who is renting one of our units has decided to buy the place. This is good news for us as it give us the opportunity to cash in on some of the capital gains made. This also gives us the ability to invest into higher yielding RE investments. It is one of our first investment properties, albeit not a bad investment, there are better options out there (even now).
We now need to start the process of mortgage assessments, pricing, any land registry items and some outstanding maintenance works. Don’t believe there will be any issues as we made clear deals with our family member how to proceed. Not sure how long this is all going to take, but we should have quite a bit of money next year to play with. Perhaps the investment loan as noted in last month’s real estate report will be a good option. Still to write a post about it, perhaps I can find some time in December.
What’s up with you? Any cool stuff to share?