Property X
Apt 1- NEW TENANT Black Family: $700
Apt 2 - Black Couple: $500
Total Rents Received: $1200
Repair Costs: $564 ($324+$120+$120 - Renovation repairs+furnace cleaning+Alfonso fee)
Total Profit for Anita: $636
Property 1
Apt 1 - Nepalese Family: $525
Apt 2 - Belle and Sebastian: $875
Total Rents Received: $1400
Mortgage: $860
National Grid: $180.74
Repair Expenses: $310 ($230 for window wraps and $80 for furnace cleaning)
Total Profit: $49.26
Property 2
Apt 1 - Tyrell: $750 ($35 late fee)
Apt 2 - Nicolas: $660 ($35 late fee)
Total Rents Received: $1410
Mortgage: $764
Repair Expenses: $0
Total Profit: $646
Property 3
Apt 1 - Chucky: $435
Apt 2 - Thomas and Brie: $525
Apt 3 - Rory: $515
Apt 4 - Taniqua and Eugene: $570 ($70 in late fees for November and December)
Total Rents Received: $2045
Mortgage: $835
Repair Expenses: $0
National Grid: $242.76
Total Profit: $967.24
Net Real Estate Profit for December 2015: $1,662.50
Property X
Looks like the Ahkenaten/Alfonso Property Management train is full steam ahead. Both apartments are rented out and it’s been good so far. Notice how I list the tenants as black couple or black family. I have their names from their leases and applications, but I’ve never met them. And that’s the way… I like it! The black family asked that the furnace be cleaned because of dust that was coming up through the ducts. Alfonso asked me when was the last time the air filter had been changed. I gave him a blank look. In all the time I’ve been a landlord, I have NEVER replaced an air filter. He explained that it’s a health hazard for the tenant and can clog up the furnace if not cleaned for too long. Other than that, I haven’t had any issues. 2016 will be the first time in years that I won’t have Property X bringing my profits down. If Alfonso and I can team together and make this work, I’ll have no problem giving him the new properties to manage.
Property 1 - 2015 Year End Profit: $828.79
After Alfonso told me about the air filters, I realized that there may be a huge issue at Property 1. I always heard Nepalese tenants’ new baby coughing. Could this be because the air ducts are blowing in dust?? I got really nervous and had him replace the air filters there and clean out the ducts as well. I don’t hear the baby coughing as much now, so I can have peace of mind. I’ll make sure those filters get cleaned every year before winter starts.
This property has been great. Both apartments have been consistent without too many problems. I especially love living under the Nepalese family. They're always giggling and playing with that baby of theirs, and it always makes me sleepy when I hear the mother singing lullabies to him. I noticed that some of their family moved into the single family house across the street, and Naresh's brother is now the person paying rent. Hopefully they have that house for new family members coming in from Nepal, because I never want these guys to leave! There are no big repairs in store for 2016, so Property 1 should make more money than it did in 2015… especially when the mortgage gets reduced in April.
Property 2 - 2015 Year End Profit: $-1,606.88
What a crazy month for Property 2. Both tenants were incredibly late paying rent, and I was very close to filing an eviction for Nicolas. In fact, I filled out the form and handed to the marshal’s secretary when Nicolas texted me that he had the money. He paid the rent, late fee, plus $280 towards January’s rent. I was glad he paid the rent, but a small part of me wanted him to leave so I could get new tenants paying $750 instead of the $625 that Nicolas pays. Tyrell paid his rent with the late fee, and let me know that he may be moving out in February. He’s been looking for a bigger place for a while now, and I think he’s close to finding one. He says that his friend wants to move in after him, so that will reduce the cost of a normal turnover. To be honest, I could care less. Tyrell did an excellent job fixing that place up, so I’ll have no problem getting good tenants for either apartment for years to come.
2015 was a crazy year for Property 2. The bullshit that happened with the former downstairs tenant Chris, the renovation mishaps with Pelcom Nick, and replacing all the windows really took a chunk out of the profits. But Ithink know it was worth the cost. I mean, think about it for a second. I paid a little under $5000 to both buy and install ALL 27 windows for this property. I could not pass up this deal, man. And now, things should be great for that place. The long term value for both apartments will be high, and that means easy showings, higher quality prospective tenants, and less problems. In other words: easy money.
Property 3 - 2015 Year End Profit: $6523.73
Other than a mouse problem and some minor repairs, Property 3 has been a monster as far as profits go. Without this property’s profits, I would have been in the red for real estate earnings this year. With the other two properties projected to make more money in 2016, I’m going to use this opportunity to make some repairs to this place. I’m not sure what, but I’d like for the repairs to be like the ones done for Property 2… the kind that increases value and rentability. But I don’t want to do too much, as that place is just fine as is.
Year End Profits for 2015: $3,852.91
2016 should be a great year for my real estate earnings. By not having to deal with Property X and making the big repairs at Property 2, I’ve set myself up for good profits. Oil prices are forecast to stay low which means lower National Grid bills. If I play my cards right, I can end 2016 with 10K in profits from these three properties..
P.S.: The total year-end profits for my three properties in 2015 is actually $5,745.64, but factoring the repairs made for Property X brings it down to the $3,852.91. I won't have that problem in 2016, so hitting 10K isn't too far of a stretch.
Apt 1- NEW TENANT Black Family: $700
Apt 2 - Black Couple: $500
Total Rents Received: $1200
Repair Costs: $564 ($324+$120+$120 - Renovation repairs+furnace cleaning+Alfonso fee)
Total Profit for Anita: $636
Property 1
Apt 1 - Nepalese Family: $525
Apt 2 - Belle and Sebastian: $875
Total Rents Received: $1400
Mortgage: $860
National Grid: $180.74
Repair Expenses: $310 ($230 for window wraps and $80 for furnace cleaning)
Total Profit: $49.26
Property 2
Apt 1 - Tyrell: $750 ($35 late fee)
Apt 2 - Nicolas: $660 ($35 late fee)
Total Rents Received: $1410
Mortgage: $764
Repair Expenses: $0
Total Profit: $646
Property 3
Apt 1 - Chucky: $435
Apt 2 - Thomas and Brie: $525
Apt 3 - Rory: $515
Apt 4 - Taniqua and Eugene: $570 ($70 in late fees for November and December)
Total Rents Received: $2045
Mortgage: $835
Repair Expenses: $0
National Grid: $242.76
Total Profit: $967.24
Net Real Estate Profit for December 2015: $1,662.50
Property X
Looks like the Ahkenaten/Alfonso Property Management train is full steam ahead. Both apartments are rented out and it’s been good so far. Notice how I list the tenants as black couple or black family. I have their names from their leases and applications, but I’ve never met them. And that’s the way… I like it! The black family asked that the furnace be cleaned because of dust that was coming up through the ducts. Alfonso asked me when was the last time the air filter had been changed. I gave him a blank look. In all the time I’ve been a landlord, I have NEVER replaced an air filter. He explained that it’s a health hazard for the tenant and can clog up the furnace if not cleaned for too long. Other than that, I haven’t had any issues. 2016 will be the first time in years that I won’t have Property X bringing my profits down. If Alfonso and I can team together and make this work, I’ll have no problem giving him the new properties to manage.
Property 1 - 2015 Year End Profit: $828.79
After Alfonso told me about the air filters, I realized that there may be a huge issue at Property 1. I always heard Nepalese tenants’ new baby coughing. Could this be because the air ducts are blowing in dust?? I got really nervous and had him replace the air filters there and clean out the ducts as well. I don’t hear the baby coughing as much now, so I can have peace of mind. I’ll make sure those filters get cleaned every year before winter starts.
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| One of the windows Tyrell installed in Property 1. It was awesome watching this guy work, and he really made it look easy. He says the key is to get custom-fit windows based on good measurements. They cost a bit more, but installing them is so easy that some contractors will give discounts on installation costs. |
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| Tyrell also wrapped the basement windows for $40 each. |
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| The Nepalese family complained that one of the bedrooms was too cold. I thought I would have to replace the window in that room, but I could feel no air coming through it. I soon realized that the heating vent for the bedroom was closed. It was also partially blocked by the bed. Once I opened the vent and moved the bed, the room became nice and warm. To some, this may be nothing to brag about. But I thought it was pretty cool, and showed my problem solving prowess! |
This property has been great. Both apartments have been consistent without too many problems. I especially love living under the Nepalese family. They're always giggling and playing with that baby of theirs, and it always makes me sleepy when I hear the mother singing lullabies to him. I noticed that some of their family moved into the single family house across the street, and Naresh's brother is now the person paying rent. Hopefully they have that house for new family members coming in from Nepal, because I never want these guys to leave! There are no big repairs in store for 2016, so Property 1 should make more money than it did in 2015… especially when the mortgage gets reduced in April.
Property 2 - 2015 Year End Profit: $-1,606.88
What a crazy month for Property 2. Both tenants were incredibly late paying rent, and I was very close to filing an eviction for Nicolas. In fact, I filled out the form and handed to the marshal’s secretary when Nicolas texted me that he had the money. He paid the rent, late fee, plus $280 towards January’s rent. I was glad he paid the rent, but a small part of me wanted him to leave so I could get new tenants paying $750 instead of the $625 that Nicolas pays. Tyrell paid his rent with the late fee, and let me know that he may be moving out in February. He’s been looking for a bigger place for a while now, and I think he’s close to finding one. He says that his friend wants to move in after him, so that will reduce the cost of a normal turnover. To be honest, I could care less. Tyrell did an excellent job fixing that place up, so I’ll have no problem getting good tenants for either apartment for years to come.
2015 was a crazy year for Property 2. The bullshit that happened with the former downstairs tenant Chris, the renovation mishaps with Pelcom Nick, and replacing all the windows really took a chunk out of the profits. But I
Property 3 - 2015 Year End Profit: $6523.73
Other than a mouse problem and some minor repairs, Property 3 has been a monster as far as profits go. Without this property’s profits, I would have been in the red for real estate earnings this year. With the other two properties projected to make more money in 2016, I’m going to use this opportunity to make some repairs to this place. I’m not sure what, but I’d like for the repairs to be like the ones done for Property 2… the kind that increases value and rentability. But I don’t want to do too much, as that place is just fine as is.
Year End Profits for 2015: $3,852.91
2016 should be a great year for my real estate earnings. By not having to deal with Property X and making the big repairs at Property 2, I’ve set myself up for good profits. Oil prices are forecast to stay low which means lower National Grid bills. If I play my cards right, I can end 2016 with 10K in profits from these three properties..
P.S.: The total year-end profits for my three properties in 2015 is actually $5,745.64, but factoring the repairs made for Property X brings it down to the $3,852.91. I won't have that problem in 2016, so hitting 10K isn't too far of a stretch.
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