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
Our rental income for September is again above the €3.000 mark. Nothing special to report here.
The monthly income overview is provided below:
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 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 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?