Here is the Real Estate Report – July 2017. Nothing much to report, still be slacking on the outstanding work, too busy with life and there is no urgent motivator either. Not good, but such is life. Still, a rather nice RE income this month for sure!
Our rental income for the month is now officially above the €3.000 barrier with the rental increase completed for one of the units. One more unit is due for a rental increase (should have been done per July 1), need to get this done ASAP. The other 3 units will remain the same for a while.
The monthly income overview is provided below:
The main costs for the month where water/sewage and garbage removal fees. Another significant expense was the quarterly payment of the various insurances. The interest expenses were the same, so were the costs for property management.
The expenses for the month are as follows:
Real Estate Report – Overview
We made a total of almost €1.896 in net rental income for the month of July (before taxes), a bit down from last month. The net cash-flow will come in at around €1.500. Our total YTD net rental income for 2017 is now about €13.298 (before taxes). That’s a lot of money!
Real Estate Report – Forecast
Stil no confirmation on the tenants moving out, they are awaiting their final approvals for loans/mortgages. But we still are anticipating them to move out. Too bad, nice couple and good tenants.
We had actually submitted an indicative offer on 5 rental properties, but the seller was not budging. Therefore no deal here, too much risk for the current asking price.
We have also requested more information on another property which currently has 12 units and shared kitchen/bathrooms. It appears interessting, but has (the usual) issues with permits and the potential for a large amount of outstanding maintenance. It does have the option to be upgraded to 16 units, which is good. Asking price per square meter is also reasonable. Still more work to be done here.
And, as noted here, we are also keeping an eye on potential German investments, but we have to sort our some taxes questions first.
Opportunities still exist, but it currently takes quite a bit of effort to find the one for us. Almost considering diverting the funds to other investments….
How is your RE life going? Any fun news to share?