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The top of this page displays a Dashboard Summary of all of my key performance metrics.  Scroll down for a detailed month-by-month account.

 
 

April 2022 update (-$3,459)

Vacancy in one unit, and we decided to put in new flooring.

may 2021 update (+$926)

Back to normal!

april 2021 update (-$8)

A breakeven month after a turnover/tenant placement fee, but no big deal.

march 2021 update (+$1,350)

Another great month.

february 2021 update (+$1,190)

Moneymaker!

january 2021 update (+$1,011)

Another awesome month to start off 2021 for my first “big” BRRRR.

december 2020 update (+$1,251)

Monster December, and all things considered this property was an absolute winner this year. Very satisfying for me to see this 3 unit kick some butt, because this was my first multi-unit BRRRR, and first BRRRR that I tackled as a full time real estate investor.

november 2020 update (+$330)

Back to normal, and next month looking good as well.

october 2020 udpate (-$1,230)

For those of you who love pretty graphs, I apologize. We paid $2900 to remove some trees from the edge of the property. This project was brought on because I was approached by a new owner of the next door property, and he offered to pay 50% of the cost to remove the two GIGANTIC trees. I decided to jump at the chance to get a good deal and take care of a lingering issue, plus form a relationship with the business next door.

september 2020 update (+$940)

Nice cash flow. The trees were removed at the end of the month, and my check will be cashed in October. So, this property will revert back to “money pit” for a month.

august 2020 update (+$913)

No issues again. I will be paying for two big trees to be removed next month.

july 2020 update (+$881)

Another good month!

june 2020 update (+$645)

Another great month. BRRRR’s really start paying off well 9-12 months after completion.

may 2020 update (+$857)

Another nice month with no issues. This property is proving to be a moneymaker as expected!

april 2020 update (+$1,018)

Nice month, and most of the tenants weren’t affected by the COVID-19 shutdown. One was affected but caught up once they received the stimulus.

march 2020 update (+$566)

No issues this month, and I think physically this property is ready to rock and roll. We will see if the tenants are economically affected by COVID-19 shutdowns in the coming months.

february 2020 update (+$272)

Two garages got rented for $75 each! Paid again for more roof/chimney work, and hopefully that’s the last of it.

january 2020 update (+$559)

Continuing to deal with some lingering repairs that are to be expected with a newly acquired property. But, still making decent cash flow. The garages still aren’t rented, so when they do, cash flow will be even better.

december 2019 update (+$532)

Despite some roof/chimney repairs following some insane storms, still made some healthy cash flow so I’m happy.

november 2019 update (+$1,722)

Big bounce back as I got a security deposit back from the tenant that moved out after 2 months.

october 2019 update (-$392)

First update on my FIRST multifamily BRRRR! This one was BIG and probably 10x as complex as my first four single family rehabs, as you can probably tell from the rehab number. I did nearly everything to this 3 unit, 3000 sq. ft. property, including electrical, plumbing, foundation repairs, all new windows, 3 new kitchens, 3 new bathrooms, flooring and paint. The property also has two garages that I’m working to rent out for additional income.

I made a LOT of mistakes in estimating the rehab, and therefore I ended up with a lot more cash in the deal than originally anticipated.

It’s been an unimpressive start due to losing a tenant after the first 2 months, as well as some additional roof repairs, but once I get through these first 6 months I think this property will cash flow well. I anticipate around $500/month in positive cash flow.

Since I put so much into this property but expect a lot of cash flow, I chose to name this one the “Money Pit SLASH Moneymaker”. Let’s hope it leans more towards the latter from now on.