Property X
Apt 1- Black Family: $700
Apt 2 - Black Couple: $200 (owes $335)
Total Rents Received: $900
Repair Costs: $120 (Alfonso Maintenance Fee) + $210.60 (Pest Control) = $330.60
Total Profit for Anita: $569.40
Property 1
Apt 1 - Nepalese Family: $525
Apt 2 - Belle and Sebastian: $875
Total Rents Received: $1400
Mortgage: $856
National Grid: $168.78
Repair Expenses: $0
Total Profit: $375.22
Property 2
Apt 1 - Tyrell: $100
Apt 2 - Nicolas: $625
Total Rents Received: $725
Mortgage: $764
Repair Expenses: $0
Total Profit: -$39
Property 3
Apt 1 - Chucky: $435
Apt 2 - Thomas and Brie: $0 (owes $565)
Apt 3 - Rory: $530
Apt 4 - Taniqua and Eugene: $510 (owes $25)
Total Rents Received: $1475
Mortgage: $918
Repair Expenses: $0
National Grid: $272.45
Total Profit: $284.55
Lawn Maintenance: $140
Net Real Estate Profit for May 2016: $480.77
You know, it never fails. It seems that whenever I need money the most, that’s when the bullshit happens. Except for Property 1, every other property had problems paying on time.
At Property X, the upstairs tenants only paid $200. For the remainder of May, Handyman Alfonso had to call them constantly and they continued to avoid his called. I sent them a 30 day notice, but quickly had to rescind it because they are still in the middle of their lease. I had forgotten that Handyman Alfonso convinced me to make the Property X leases 1 one year. I was going to evict them, but they paid $500 this month but still owe the $335. I’ll have to wait until the 1st of each month to file an eviction if they owe anything from the previous month.
At Property 2, Nicholas actually paid on time and signed up for Erent Payment. Nevertheless, I still think I should throw his ass out because I know he’s gonna be late more often than not. As for Tyrell, he only paid $100. I told him that he had until June 6th to pay the remaining $1375 owed plus finish all the window wrappings. Both tenants should have been gone by now, and I’m not sure why I’m procrastinating. What I’ll do is tell both tenants that they’ll get 30 day notices if their payments are late again.
At Property 3, Thomas and Brie are still having issues paying rent. They said Brie’s son was supposed to pay them back for a loan, but he reneged. Then they tried one of those online get-money-quick scams and got screwed. Ugh. The crazy thing is that, no matter what, I have to work with them. Of the four apartments at Property 3, their apartment would need the most work to renovate. It would cost at least $6,000 for a full renovation, and I don’t have that kind of money. Hopefully they’ll get their shit together this month. Taniqua and Eugene were also late, but that’s normal. I actually enjoy hearing the excuses that Eugene has whenever he’s late. It’s either someone got shot, killed, or he has to pay for something that has to do with his kids. From February to April it was someone getting shot or killed, but May was because of his kids’ graduation and prom. I know it’s all bullshit anyway. The thing about Property 3 is that I have to maintain the balance while keeping all the tenants in place. Most months it’s easy work, but May was a bit stressful.
The big news for May was that Naresh and the Nepali tenants of Property 1 are leaving. They’ve been waiting for me t find a bigger apartment for them, but I guess they couldn’t wait any longer. I spoke to Naresh about it, and he said that the move is only temporary while they give me more time to find a place for them. He also said that he will have people moving in a few days after he moves out. This is actually good news for me. Not only do I not have to put out an add for the apartment, but there will be less people in the apartment which means less traffic. I’ll miss Naresh, but we’ll still keep in contact while I look for a cheap property with two 3-bedroom apartments.
June should be a good month. If Tyrell and Thomas and Brie come through with their money and I get new tenants for Property 4, I should have almost $2,000 from rents and security deposits. That should make up for the pathetic $480 I made for May.
Apt 1- Black Family: $700
Apt 2 - Black Couple: $200 (owes $335)
Total Rents Received: $900
Repair Costs: $120 (Alfonso Maintenance Fee) + $210.60 (Pest Control) = $330.60
Total Profit for Anita: $569.40
Property 1
Apt 1 - Nepalese Family: $525
Apt 2 - Belle and Sebastian: $875
Total Rents Received: $1400
Mortgage: $856
National Grid: $168.78
Repair Expenses: $0
Total Profit: $375.22
Property 2
Apt 1 - Tyrell: $100
Apt 2 - Nicolas: $625
Total Rents Received: $725
Mortgage: $764
Repair Expenses: $0
Total Profit: -$39
Property 3
Apt 1 - Chucky: $435
Apt 2 - Thomas and Brie: $0 (owes $565)
Apt 3 - Rory: $530
Apt 4 - Taniqua and Eugene: $510 (owes $25)
Total Rents Received: $1475
Mortgage: $918
Repair Expenses: $0
National Grid: $272.45
Total Profit: $284.55
Lawn Maintenance: $140
Net Real Estate Profit for May 2016: $480.77
You know, it never fails. It seems that whenever I need money the most, that’s when the bullshit happens. Except for Property 1, every other property had problems paying on time.
At Property X, the upstairs tenants only paid $200. For the remainder of May, Handyman Alfonso had to call them constantly and they continued to avoid his called. I sent them a 30 day notice, but quickly had to rescind it because they are still in the middle of their lease. I had forgotten that Handyman Alfonso convinced me to make the Property X leases 1 one year. I was going to evict them, but they paid $500 this month but still owe the $335. I’ll have to wait until the 1st of each month to file an eviction if they owe anything from the previous month.
At Property 2, Nicholas actually paid on time and signed up for Erent Payment. Nevertheless, I still think I should throw his ass out because I know he’s gonna be late more often than not. As for Tyrell, he only paid $100. I told him that he had until June 6th to pay the remaining $1375 owed plus finish all the window wrappings. Both tenants should have been gone by now, and I’m not sure why I’m procrastinating. What I’ll do is tell both tenants that they’ll get 30 day notices if their payments are late again.
At Property 3, Thomas and Brie are still having issues paying rent. They said Brie’s son was supposed to pay them back for a loan, but he reneged. Then they tried one of those online get-money-quick scams and got screwed. Ugh. The crazy thing is that, no matter what, I have to work with them. Of the four apartments at Property 3, their apartment would need the most work to renovate. It would cost at least $6,000 for a full renovation, and I don’t have that kind of money. Hopefully they’ll get their shit together this month. Taniqua and Eugene were also late, but that’s normal. I actually enjoy hearing the excuses that Eugene has whenever he’s late. It’s either someone got shot, killed, or he has to pay for something that has to do with his kids. From February to April it was someone getting shot or killed, but May was because of his kids’ graduation and prom. I know it’s all bullshit anyway. The thing about Property 3 is that I have to maintain the balance while keeping all the tenants in place. Most months it’s easy work, but May was a bit stressful.
The big news for May was that Naresh and the Nepali tenants of Property 1 are leaving. They’ve been waiting for me t find a bigger apartment for them, but I guess they couldn’t wait any longer. I spoke to Naresh about it, and he said that the move is only temporary while they give me more time to find a place for them. He also said that he will have people moving in a few days after he moves out. This is actually good news for me. Not only do I not have to put out an add for the apartment, but there will be less people in the apartment which means less traffic. I’ll miss Naresh, but we’ll still keep in contact while I look for a cheap property with two 3-bedroom apartments.
June should be a good month. If Tyrell and Thomas and Brie come through with their money and I get new tenants for Property 4, I should have almost $2,000 from rents and security deposits. That should make up for the pathetic $480 I made for May.
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