Property 1
Apt 1 (Nepalese Family): $525
Apt 2 (Belle and Sebastian): $875
Total Paid: $1400
Mortgage: $860
National Grid: $170.39
Water Bill: $242
Repair Expenses: $0
Total Profit: $127.61
Property 2
Apt 1 (Tyrell): $715
Apt 2 (Nicolas): $660 ($35 LATE FEE)
Rents Received:
Mortgage: $777
Water Bills: $123.20
Repair Expenses: $570 (3 windows)
Total Profit: -$95.20
Property 3
Apt 1 (Chucky): $435
Apt 2 (Thomas and Brie): $525
Apt 3 (Rory): $530
Apt 4 (Taniqua and Eugene): $535 ($35 late fee)
Rents Received: $2,025
Mortgage: $835
Water Bills: $183.28
National Grid: $221.88
Repair Expenses: $60.44
Total Profit: $724.40
Property X
Van Sickle Family: $750
Danny: $265 ($555 remaining for July)
Rents Received: $1,015
Mortgage: $712
Repair Costs: $426 (for Handyman Alfonso to finally stop rainwater from getting into the basement for good)
Eviction Fees: $230
Water Bills: $146.53
Total Profit: -$499.53
Lawnmowing Services: $110
Net Real Estate Profit for July 2015: $147.28
Since so much stuff happened this month, I'll add the tenant update in here too.
Property 1
All good. The water bills are finally getting back to normal, and the next bill should finally be under $200. I really love this place, and the tenants are just awesome.
Property 2
Nicholas was late on rent, waiting for his roommate to pay. Funny, I don't remember allowing him a roommate. Tyree called me up in the middle of the month to let me know that he quit his paycheck job. While his main income comes from the work he does off-the-books, it puts me at a disadvantage in case I have to evict him and garnish his wages. So now he’s setting it up where I get paid weekly through his bank account instead of his job. While I still like Tyree, I highly doubt he will be a long term tenant. The eviction signs are all there, and I need to fully utilize my window deal with him before he goes bad. I’m considering paying for all the windows at each property to be replaced each month, starting with Property 2 in August. While it would mean I would spend more money right now, it would guarantee that I get them all installed for a cheap price now than for the standard high price later.
I’m also getting the feeling that he’s getting these windows somewhat illegally. When I asked if I can set up an account with the company he gets the windows from in order to get receipts, Tyree acted strange and said it would be better if he gave me contractor receipts. My best guess is that he has a guy in that company who will make windows cheap without the owner knowing. What do I care, anyway? $190 to both buy and install any size window is a good deal. The faster I get this done, the less chance Tyree has of getting caught.
Property 3
The sewage backed up at the place due to a massive rainstorm, but the city's DPW (Department of Public Works) came out and flushed the drain. The guy that did it was one of those black guys that was very happy to see that I was the owner of the place. I really like that. Eugene offered to clean the sewage for free, and I appreciated that. Even though he was very late this month, I continue to value Taniqua and Eugene's tenancy.
It looks as if I'll have to get another stove for Thomas and Brie. After Handyman Alfonso stabilized the gas meters, we turned on Thomas' gas but the stove wouldn't work. I'll have to find a used 20 inch stove which is near impossible right now. And I'm pretty sure that this whole "stove" business started when Brie left Rory for Thomas. Ever since she got there, he's been adamant about having a working stove. Women.
Property X
This month would have gone a lot better had that douchebag Danny paid his rent and finished his payment plan. Instead, he sent me this text:
“hey this is dan sent you a payment today not hole thing have to send you more later in the week did not want wait tell you so late thought something come up made stupid choice let my ex borrow money thought get it back whater still going be caught up by the 6th turning out to be a bad tenant do the best I can only can text at the moment really cant loose this place have nowhere to go iwill keep intouch”
I left the grammatical errors in to make the point that anyone who writes like this should be evicted regardless. Anyway, the translation goes like this:
“I sent you a payment today. I know we were supposed to meet later in the day but I can’t make that appointment. I stupidly let my ex borrow money but she never paid me back. Either way, I’ll be caught up with the rent by the 6th. I know it looks like I’m a bad tenant, but I’m just doing the best I can. I can’t talk on this phone, only text. I can’t lose this place because I have nowhere to go. I’ll keep in touch.”
As a landlord, this is what I heard:
“I sent you a payment by mail instead of in person like we agreed... okay, I’m just bullshittin’. I didn't really send anything and am just trying to buy time. I’m so irresponsible that I gave your rent money to my ex because I like to lend people money that I don’t have, because I know you aren’t gonna do shit about it and continue to work with me even though I’ve given you NO REASON to do so. Instead of following an agreement, I ‘ll pay you when I feel like. I don’t have the balls to be confronted by you verbally, so respond with texts instead of voice. I’ve got nowhere else to go, so you’re fucked.”
The very next morning I filed the eviction. Because it’s Anita’s property, I had to spend money for an eviction AND hire Marvin Wassle to throw him out. That’s $150 for Marvin and $80 for the eviction, coming out to $230 every time I have to evict someone from that godforsaken property. Add in the city marshal’s $75 to physically throw them out in case they don’t want to leave, and I’m looking at $305 total. Ugh!! Before he took the case, Marvin let me know that I screwed up the paperwork. Because Property X is Anita’s property, her name has to be listed as the plaintiff, not mine. I can sign the eviction form as the manager, but I can’t be listed as the plaintiff. At the hearing, Dan had a legal aid with him, so Marvin’s choices were to settle on another payment agreement that will most certainly fail, or lose the case outright for the bad paperwork. He had to take the agreement, which states that Dan has to pay me $250 a week starting August 5th. If he misses one payment, I call Marvin and he gets evicted. Considering that I’m gonna lose August’s rent anyway, this really was the best case scenario. I mean, even if Dan makes ONE payment, it would be more than I’d have received with a straight up eviction.
The Van Sickle family was unusually late on their payment. They came up with some strange excuse, actually had proof that they at least bought the money order. I don't know what happened and I didn't really care. I told them I couldn't wait for them to get the issue straightened out with the bank, and they got another money order for me. I really hate this place and am VERY much looking forward to when my mom Anita sells this hellhole.
What a month! I can't believe there was an actual profit for July with all the bullshit and repairs and water bills. That's gotta be the only good thing I can take from July.
Apt 1 (Nepalese Family): $525
Apt 2 (Belle and Sebastian): $875
Total Paid: $1400
Mortgage: $860
National Grid: $170.39
Water Bill: $242
Repair Expenses: $0
Total Profit: $127.61
Property 2
Apt 1 (Tyrell): $715
Apt 2 (Nicolas): $660 ($35 LATE FEE)
Rents Received:
Mortgage: $777
Water Bills: $123.20
Repair Expenses: $570 (3 windows)
Total Profit: -$95.20
Property 3
Apt 1 (Chucky): $435
Apt 2 (Thomas and Brie): $525
Apt 3 (Rory): $530
Apt 4 (Taniqua and Eugene): $535 ($35 late fee)
Rents Received: $2,025
Mortgage: $835
Water Bills: $183.28
National Grid: $221.88
Repair Expenses: $60.44
Total Profit: $724.40
Property X
Van Sickle Family: $750
Danny: $265 ($555 remaining for July)
Rents Received: $1,015
Mortgage: $712
Repair Costs: $426 (for Handyman Alfonso to finally stop rainwater from getting into the basement for good)
Eviction Fees: $230
Water Bills: $146.53
Total Profit: -$499.53
Lawnmowing Services: $110
Net Real Estate Profit for July 2015: $147.28
Since so much stuff happened this month, I'll add the tenant update in here too.
Property 1
All good. The water bills are finally getting back to normal, and the next bill should finally be under $200. I really love this place, and the tenants are just awesome.
Property 2
Nicholas was late on rent, waiting for his roommate to pay. Funny, I don't remember allowing him a roommate. Tyree called me up in the middle of the month to let me know that he quit his paycheck job. While his main income comes from the work he does off-the-books, it puts me at a disadvantage in case I have to evict him and garnish his wages. So now he’s setting it up where I get paid weekly through his bank account instead of his job. While I still like Tyree, I highly doubt he will be a long term tenant. The eviction signs are all there, and I need to fully utilize my window deal with him before he goes bad. I’m considering paying for all the windows at each property to be replaced each month, starting with Property 2 in August. While it would mean I would spend more money right now, it would guarantee that I get them all installed for a cheap price now than for the standard high price later.
I’m also getting the feeling that he’s getting these windows somewhat illegally. When I asked if I can set up an account with the company he gets the windows from in order to get receipts, Tyree acted strange and said it would be better if he gave me contractor receipts. My best guess is that he has a guy in that company who will make windows cheap without the owner knowing. What do I care, anyway? $190 to both buy and install any size window is a good deal. The faster I get this done, the less chance Tyree has of getting caught.
Property 3
The sewage backed up at the place due to a massive rainstorm, but the city's DPW (Department of Public Works) came out and flushed the drain. The guy that did it was one of those black guys that was very happy to see that I was the owner of the place. I really like that. Eugene offered to clean the sewage for free, and I appreciated that. Even though he was very late this month, I continue to value Taniqua and Eugene's tenancy.
It looks as if I'll have to get another stove for Thomas and Brie. After Handyman Alfonso stabilized the gas meters, we turned on Thomas' gas but the stove wouldn't work. I'll have to find a used 20 inch stove which is near impossible right now. And I'm pretty sure that this whole "stove" business started when Brie left Rory for Thomas. Ever since she got there, he's been adamant about having a working stove. Women.
Property X
This month would have gone a lot better had that douchebag Danny paid his rent and finished his payment plan. Instead, he sent me this text:
“hey this is dan sent you a payment today not hole thing have to send you more later in the week did not want wait tell you so late thought something come up made stupid choice let my ex borrow money thought get it back whater still going be caught up by the 6th turning out to be a bad tenant do the best I can only can text at the moment really cant loose this place have nowhere to go iwill keep intouch”
I left the grammatical errors in to make the point that anyone who writes like this should be evicted regardless. Anyway, the translation goes like this:
“I sent you a payment today. I know we were supposed to meet later in the day but I can’t make that appointment. I stupidly let my ex borrow money but she never paid me back. Either way, I’ll be caught up with the rent by the 6th. I know it looks like I’m a bad tenant, but I’m just doing the best I can. I can’t talk on this phone, only text. I can’t lose this place because I have nowhere to go. I’ll keep in touch.”
As a landlord, this is what I heard:
“I sent you a payment by mail instead of in person like we agreed... okay, I’m just bullshittin’. I didn't really send anything and am just trying to buy time. I’m so irresponsible that I gave your rent money to my ex because I like to lend people money that I don’t have, because I know you aren’t gonna do shit about it and continue to work with me even though I’ve given you NO REASON to do so. Instead of following an agreement, I ‘ll pay you when I feel like. I don’t have the balls to be confronted by you verbally, so respond with texts instead of voice. I’ve got nowhere else to go, so you’re fucked.”
The very next morning I filed the eviction. Because it’s Anita’s property, I had to spend money for an eviction AND hire Marvin Wassle to throw him out. That’s $150 for Marvin and $80 for the eviction, coming out to $230 every time I have to evict someone from that godforsaken property. Add in the city marshal’s $75 to physically throw them out in case they don’t want to leave, and I’m looking at $305 total. Ugh!! Before he took the case, Marvin let me know that I screwed up the paperwork. Because Property X is Anita’s property, her name has to be listed as the plaintiff, not mine. I can sign the eviction form as the manager, but I can’t be listed as the plaintiff. At the hearing, Dan had a legal aid with him, so Marvin’s choices were to settle on another payment agreement that will most certainly fail, or lose the case outright for the bad paperwork. He had to take the agreement, which states that Dan has to pay me $250 a week starting August 5th. If he misses one payment, I call Marvin and he gets evicted. Considering that I’m gonna lose August’s rent anyway, this really was the best case scenario. I mean, even if Dan makes ONE payment, it would be more than I’d have received with a straight up eviction.
The Van Sickle family was unusually late on their payment. They came up with some strange excuse, actually had proof that they at least bought the money order. I don't know what happened and I didn't really care. I told them I couldn't wait for them to get the issue straightened out with the bank, and they got another money order for me. I really hate this place and am VERY much looking forward to when my mom Anita sells this hellhole.
What a month! I can't believe there was an actual profit for July with all the bullshit and repairs and water bills. That's gotta be the only good thing I can take from July.
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