Real Estate Report – September 2017

Still taking it easy on the blogging, the RSI is not gone but has reduced a bit. To slowly start I’m going to catch up on September with the a short post: Real Estate Report – September 2017.

Real Estate Report – September 2017

Rental Income

Our rental income for September is again above the €3.000 mark. Nothing special to report here.

The monthly income overview is provided below:

Real Estate Update - September 2017 Income

Real Estate Update – September 2017 Income

Rental Expenses

The costs for the month of september where the mortgage, personal loan and property management fees. However, we also paid to have the outside wall of one unit treated for a moisture issue (moisture was creeping up within the wall from the foundation). Only paint work remaining now on the inside, which will be one in December when the wall has dried out.

The expenses for the month are as follows:

Real Estate Update - September 2017 Expenses

Real Estate Update – September 2017 Expenses

Real Estate Report – Overview

We made a total of almost €1.945 in net rental income for the month of September (before taxes).  The net cash-flow will come in at around €1.550. Our total YTD net rental income for 2017 is now about €17.689 (before taxes), the associated net cashflow is around €14.000. The would cover about 75% of our core expenses during our FI. Not bad, but taxes will drop this percentage a bit.

Real Estate Update - September 2017 Overview

Real Estate Update – September 2017 Overview

Real Estate Report – Forecast

We have made an appointment for April 2018 to have the outside fixed up for two units. Price will be €5.000 for the stucco and €500 for the preparation works, followed by an certain amount of cost for paint work. In short, we will be about €6.000-6.500 out of pocket next year for this project. After which those units should need very little going forward as they are completely renovated at that point (inside and out).

Still looking around to find new investments. We are awaiting a quote for renovation works for a potential future four-plex. If that is reasonable, we might put in an offer on the property. Alternatively, we might give out a investment loan to another RE investor to purchase a property. For this investment loan we have an appointement later this week.

How is your real estate adventure going?

Please follow and like us:

10 comments

  1. Keep up the great work! Looks like our portfolios are roughly similar in some respects. We own five units though all are single family. We clear about $2,500 net USD after maintenance. Gotta love the tax treatment here in the states. Is it similarly favorable in NED?

    1. Yes it is, the taxation is done on the (government) assessed value of the home multiplied by a correction factor. The assessed value in our case are all lower than the market value. So this results in overall less (net) wealth and thus fewer taxes.

  2. Ik reageer even in het Nederlands, vind ik toch makkelijker 🙂 ik dacht altijd dat het niet mocht hier, huizen kopen om te verhuren. Kan je me vertellen hoe dat zit?

    1. Hoi Marlies, waarom zou dit niet mogen? Er zijn wel huizen te koop waar een bewoningsclausule op staat, deze mag je dus idd niet verhuren. Je mag ook kamers of delen van je eigen huis verhuren, mits de bank het daarmee eens is (je moet toestemming hebben). Maar verder mag je een huis dat van jou is (of gefinancierd met een vastgoed hypotheek) nagenoeg altijd verhuren aan derde. Het is een mooie en leuke manier om een extra zakcentje te maken.

    1. Yeah, don’t spend time behind a PC (or any screen for that matter). Get out, do workouts and keep (it) moving. The RSI completely disappeared when I was on holiday (within 2 days), it returned as soon as I started working again…. Started to mouse with the lift side, made a big difference already.

      1. even in het nederlands, RSI heb ik ook gehad, na het gebruik van een trekbal muis, is het bij mij weg. Manlief doet het met een muismatje met een verhoging, werkt voor hem.
        ook wij zouden graag in vastgoed gaan beleggen, al wat pogingen gedaan (zijn zeer kritisch) maar het is er nog niet van gekomen, leuk om te lezen hoe jullie het doen!

      2. Hoi Bianca,
        Dank voor de tips, heb al een aantal zaken gedaan (waaronder een andere muis, matje, instellingen bureau/stoel/schem, etc.) maar de beste remedie blijft toch minder muizen 🙂
        Overigens is jullie kritische blik bij het vastgoed een heel goed idee! Voorkomt heel veel narigheid, wij proberen hetzelfde te doen. Heel veel sterkte.

Leave a Reply

Your email address will not be published. Required fields are marked *