February 2018 Property Earnings Report

Property X

Apt 1 - Black Family: $700
Apt 2 - Consuela: $600
Total Rents Received: $1300
Repair Costs: $240 (Maintenance fee [120] + Alfonso Service Call [35] + Gonzalez Service Call [85])
Taxes: $472

Total Profit for Anita: $588 (2017: $1,080)

     With Alfonso having more problems with the furnace and no clue how to fix it, I decided to call my old HVAC guy Gonzalez. He came in and fixed the problem on short notice, even though he was getting ready to go to Mardi Gras that morning. He was even nice enough to charge me $85, instead of the $125 he usually charges for weekend “no-heat” service calls. On the day that I paid him, I only had $100 in cash. He took the money and said thank you, but I reminded him that he charged me only $85. So he slowly took out his cash and gave me my $15 change. The mood was different then, and I felt that he was somewhat offended that I would ask for change when the money was still less than the $125 he charges. The only lesson learned here is to make sure to bring exact change for payment, or pay with check. That avoids any confusion.


Property 1

Apt 1 – Dharma and Family: $525
Apt 2 - Belle and Sebastian: $875
Total Rents Received: $1400
Mortgage: $833
National Grid: $250.88 (2017: $205.82)
Property Expenses: $20.20 (Electric Current Tester & Gloves)

Total Profit: $295.92 (2017: $363.18)

     The Nepalis had an issue with their kitchen outlets, and I was going to check it out for them. In the days leading up to me checking out the issue, these motherfuckers kept bringing their family kids over annoying the piss out of me, one time bringing their niece over in the morning while I was concentrating on my trades. So I decided not to give a damn and ended up not fixing the outlet issue. I bought the electric tester, so when I’m in a better mood about them I’ll take care of it.


Property 2

Apt 1 - Nicholas 2: $795 ($35 LATE FEE)
Apt 2 - Edward and Gabby: $750
Total Rents Received: $1,545
Mortgage: $754
Property Expenses: $19.18 (Garbage bags) (2017: $4,249.10)

Total Profit: $771.82 (2017: -$2,690.10)

     Nicholas 2 was late with his rent, so I sent him the automated message and he paid a couple days later with the late fee. I really enjoy using that automated message. No conversation, just pay up or get out.


Property 3

Apt 1 - Chucky: $435
Apt 2 – Toby: $660
Apt 3 – Rory: $585
Apt 4 - Taniqua and Eugene: LAST MONTH
Total Rents Received: $1,680
Mortgage: $882
Property Expenses: $20.49
National Grid: $656.19 (2017: $536.29)

Total Profit: $121.32 (2017: $497.50)

02/22/2018 6:41pm

Toby: Hi Ahkenaten. I’m going to be moving. Everything will be clean and empty by March 22.

Ahkenaten: Okay… what happened?

Toby: Nothing, the apartment has been fine. I bought a house.

     Ugh. Losing my favorite homo sucks, but this gives me a great opportunity. With Eugene and Taniqua’s apartment vacant and now Tobias’ renovated apartment vacant, I can use one to rent out the other. Prospective tenants can come to take a look at Toby’s renovated apartment first, then I can offer the other less-renovated apartment for a little less. This is what I did to get Belle and Sebastian, when I got them to take Property 1’s upstairs apartment after looking at Property 2’s better looking upstairs apartment.

On the 27th, Eugene and Taniqua vacated the premises:

You know what's sad about this kitchen? It actually looks better than when they moved in.

Free vacuum, and it'll come in handy.

Bedroom. All this nasty ass carpet

   
     My plan was to hire a guy recommended by Damon to work for cheap, but the man with about 4 teeth seemed insulted that I was only offering $10 an hour (I actually offered $9). I'm not overly concerned though. Eugene and Tanisha left the place in almost the exact condition it was when they moved in in 2014. I really only have to replace the carpet, replace the paneling with sheetrock, and then replace that nasty looking bathroom sink. I'd love to refinish the floors underneath the carpet rather than replace the carpet, but I prefer a quick turnover. Repairs should take about a week.

Property 4

Tenant Latisha: $900
Property Expenses: $97.20

Total Profit: $802.80 (2017: $1000 [$100 extra for refrigerator sale])

     Latisha actually had a problem this month. She sent a message, stating that the bottom of the washer/dryer started sparking when she tried to use it. I scheduled a time for Appliance Guy Dave to take a look at it, and it turned out to be a loose wire. I gotta say, it feels satisfying to take care of issues for good tenants like Latisha. I don't get that good feeling when fixing something for the Nepalis.


Net Real Estate Profit for February 2018: $1,991.86  (2017: -$829.60)


     Most would have been pissed losing a responsible tenant like Toby, but I’ve learned in this real estate game that there’s always an advantage to a bad situation if you’re experienced enough to find it. Getting both apartments rented out in March will be extremely difficult, especially since I’ll be in Brooklyn Mike’s Shangri-La from the 12th until the 22nd. The plan is to quickly renovate Eugene’s apartment and try to get it rented out before I leave. If I can’t, I’ll have to wait until I come back on the 22nd to get both apartments rented out before the end of March. Even if I don’t get it rented out, I should end March in the green and set the stage for a monster April profit.