Property X
Apt 1- VACANT
Apt 2 – Consuela: $600
Total Rents Received: $600
Property Expenses: $168.50 ($60 [Alfonso Fee] + 108.50 [Dump and Labor fees])
Total Profit for Anita: $431.50 [2017: $1,155]
Monica and her family left the downstairs a mess:
Craziest thing is that even with no advertisement, I’m getting calls for that 3 bedroom/2 bathroom apartment. Honestly, I think my mom Anita bought well. Even though the neighborhood sucks, the apartments are in high demand every season. That’s the advantage of having a 3 bedroom apartment available in an immigrant neighborhood. The problem is that Alfonso is the maintenance guy for that property, and he’s busy with the attic apartment. So I’ll try to stall until he’s done with the attic, then he can take care of that apartment and get it rented out… hopefully for $800 a month.
Property 1
Apt 1 – NEW TENANT - Denise: $725 (sec dep)
Apt 2 - Sebastian: $875
Total Rents Received: $1,600
Mortgage: $840
National Grid: $216.77 [2017: $181.41]
Property Expenses: $1,458.72 (Jerry Labor, PO Box Payment, Range hood)
Total Profit: -$915.49 [2017: $252.47]
The new tenant, Denise, is everything that I DON’T want in a tenant. She’s annoying. She has a hood-type family and friends circle. She's a smoker. But the worst thing about her is that she hasn’t paid rent yet. I made the rookie mistake of letting someone move in with only a security deposit. I guess I was just desperate to get anything rented out, and Denise talked a good game. Now I’m stuck in the basement underneath their constant smoking and late nights up watching ghetto ass talk shows. I wanted to file for an eviction, but I prefer to be in Syracuse when everything goes down, just in case she tries something stupid. So I’ll wait until I get back from vacation. If she pays, great. I’ll keep her and her worthless family there until the weather gets better, and then throw them out on the streets in favor of better quality tenants. If she doesn’t pay, I’ll file for eviction. Either way, I promise to make her tenancy a short one.
Dealing with Denise reminded me of how good the Nepalis were. Yeah, they didn't pay much and left food out for some cultural reason, but they were generally good and respectable people. I sent Naresh a text in November, apologizing for how things ended with them. I stated that there was no proof that the Nepalis were actually the ones that had the roaches, especially since Sebastian still has some roaches. He didn't respond and I didn't want him to. I just liked ending things on an apology rather than how it was.
Property 2
Apt 1 – Brenda: $0 (Dec rent paid in November)
Apt 2 - Edward and Gabby: $750
Total Received: $750
Mortgage: $755
Property Expenses: $0
Total Profit: -$5 [2017: $746]
Nice and quiet at Property #2. In January, the plan is to FINALLY take care of that overflow drain issue. Other than that, all is well.
Property 3
Apt 1 – Danny and Maria: $745 ($35 LATE FEE)
Apt 2 – Emily: $670
Apt 3 – Rory: $600
Apt 4 – VACANT
Total Rents Received: $1980
Mortgage: $882
Property Expenses: $0
National Grid: $277.24 [2017: $333.54]
Total Profit: $855.76 [2017: $863.66]
In December, I got a nice little surprise in the mail: an escrow check from Empower for $2,130!!! Because of the new cheaper insurance company’s coverage, there was a massive overage that I very much needed. Thanks to this check, I was able to keep my head afloat as I continue to wait for apartments to get rented out.
Apartment 4 remains vacant. Handyman Jerry wants to change that with vinyl plank flooring from the bedroom to the living room, plus some cabinets in the kitchen. That’s all fine and good, but he wants $1,000 to make that happen. With the costs of the attic apartment killing me and not enough new money coming in, Apartment 4 might not get rented out until the end of February, maybe even March. It’s not too big of deal right now, as the building is profitable with only three apartments rented out.
Property 4
Tenant Latisha: $900
Mortgage: $608
Property Expenses: $0
Total Profit: $292 [2017: $900]
Chillin’. Always chillin.
Property 5
Apt 1 – VACANT
Apt 2 – Rich: $500
Apt 3 – VACANT
Apt 4 – VACANT
Total Rents Received: $500
Mortgage: $1,048
Property Expenses: $7,107.02 (Labor and Materials for apartments)
National Grid: $8.28
Total Profit: -$7,663.30
The losses continue to pile up, and I can’t believe I ended 2018 with both apartments of Property #5 still vacant. The good news is that I started getting more calls almost immediately after the holiday season was over, so maybe I can get something rented out in January.
Net Real Estate Profit for December 2018: -$7,436.03 [2017: $2,762.13]
The attic apartment is finally starting to take shape. The painting is just about done, the ceiling grid is almost in, and both Gonzalez and Floyd should be done with their work by the end of the week. With any luck, I should be able to get the place completely finished by the end of January. Then, I can be completely focused on getting the apartments rented out, and start making a profit by the end of February. These losses are getting depressing!
Just like December, the big focus in January is to get apartments rented out. The problem is that I’ll be on vacation starting on Monday, January 14th. I wouldn’t have minded waiting until the 21st to give me more time to rent apartments and I really hate to leave them empty to go on vacation, but I really have to get out of here while I still have a job. The new supervisor has it in for me and has been changing the rules every fucking week in hopes of getting me fired. I don’t want to give her more time to get me fired and have me miss out on over $1,200 of worry-free vacation money. When I come back, it’ll be fine if she gets me fired because I would’ve already used up my vacation time and that’s as far as I can go.
Let’s hope January starts off on the right foot, because I need all the luck I can get to not retire broke.
P.S.: One of my big problems in renting out apartments is that they’re never finished when I’m showing it. I need to add a finishing aspect when dealing with handymen doing work for me, but I also need to be able to afford it. I currently tell them to fix shit, paint shit, and that’s it. My belief is that I'll come in afterwards and clean everything up to save some money, but I usually end up leaving it for someone else. From now on, I need to make sure the apartment is finished after a handyman is done so that I no longer have to show apartments and say “Yes, the only thing that needs finishing is…”. I’ve missed out on at least two tenants taking an apartment due to things not being finished. If I can negotiate an affordable price, finishing has to be in the deal.
Apt 1- VACANT
Apt 2 – Consuela: $600
Total Rents Received: $600
Property Expenses: $168.50 ($60 [Alfonso Fee] + 108.50 [Dump and Labor fees])
Total Profit for Anita: $431.50 [2017: $1,155]
Monica and her family left the downstairs a mess:
 |
| This picture doesn't show that the sink was filled with a very disgusting gunk. |
 |
| Garbage |
 |
| The tile in the bathtub has issues, so it may need to be repaired... or I'll just cover it all with a good tub shower wall. |
 |
| More garbage |
 |
| Amongst all the trash and gunk and garbage, I found this to be the funniest shit. Why buy a cleaner if you're gonna leave the apartment like that?! |
Craziest thing is that even with no advertisement, I’m getting calls for that 3 bedroom/2 bathroom apartment. Honestly, I think my mom Anita bought well. Even though the neighborhood sucks, the apartments are in high demand every season. That’s the advantage of having a 3 bedroom apartment available in an immigrant neighborhood. The problem is that Alfonso is the maintenance guy for that property, and he’s busy with the attic apartment. So I’ll try to stall until he’s done with the attic, then he can take care of that apartment and get it rented out… hopefully for $800 a month.
Property 1
Apt 1 – NEW TENANT - Denise: $725 (sec dep)
Apt 2 - Sebastian: $875
Total Rents Received: $1,600
Mortgage: $840
National Grid: $216.77 [2017: $181.41]
Property Expenses: $1,458.72 (Jerry Labor, PO Box Payment, Range hood)
Total Profit: -$915.49 [2017: $252.47]
The new tenant, Denise, is everything that I DON’T want in a tenant. She’s annoying. She has a hood-type family and friends circle. She's a smoker. But the worst thing about her is that she hasn’t paid rent yet. I made the rookie mistake of letting someone move in with only a security deposit. I guess I was just desperate to get anything rented out, and Denise talked a good game. Now I’m stuck in the basement underneath their constant smoking and late nights up watching ghetto ass talk shows. I wanted to file for an eviction, but I prefer to be in Syracuse when everything goes down, just in case she tries something stupid. So I’ll wait until I get back from vacation. If she pays, great. I’ll keep her and her worthless family there until the weather gets better, and then throw them out on the streets in favor of better quality tenants. If she doesn’t pay, I’ll file for eviction. Either way, I promise to make her tenancy a short one.
Dealing with Denise reminded me of how good the Nepalis were. Yeah, they didn't pay much and left food out for some cultural reason, but they were generally good and respectable people. I sent Naresh a text in November, apologizing for how things ended with them. I stated that there was no proof that the Nepalis were actually the ones that had the roaches, especially since Sebastian still has some roaches. He didn't respond and I didn't want him to. I just liked ending things on an apology rather than how it was.
Property 2
Apt 1 – Brenda: $0 (Dec rent paid in November)
Apt 2 - Edward and Gabby: $750
Total Received: $750
Mortgage: $755
Property Expenses: $0
Total Profit: -$5 [2017: $746]
Nice and quiet at Property #2. In January, the plan is to FINALLY take care of that overflow drain issue. Other than that, all is well.
Property 3
Apt 1 – Danny and Maria: $745 ($35 LATE FEE)
Apt 2 – Emily: $670
Apt 3 – Rory: $600
Apt 4 – VACANT
Total Rents Received: $1980
Mortgage: $882
Property Expenses: $0
National Grid: $277.24 [2017: $333.54]
Total Profit: $855.76 [2017: $863.66]
In December, I got a nice little surprise in the mail: an escrow check from Empower for $2,130!!! Because of the new cheaper insurance company’s coverage, there was a massive overage that I very much needed. Thanks to this check, I was able to keep my head afloat as I continue to wait for apartments to get rented out.
Apartment 4 remains vacant. Handyman Jerry wants to change that with vinyl plank flooring from the bedroom to the living room, plus some cabinets in the kitchen. That’s all fine and good, but he wants $1,000 to make that happen. With the costs of the attic apartment killing me and not enough new money coming in, Apartment 4 might not get rented out until the end of February, maybe even March. It’s not too big of deal right now, as the building is profitable with only three apartments rented out.
Property 4
Tenant Latisha: $900
Mortgage: $608
Property Expenses: $0
Total Profit: $292 [2017: $900]
Chillin’. Always chillin.
Property 5
Apt 1 – VACANT
Apt 2 – Rich: $500
Apt 3 – VACANT
Apt 4 – VACANT
Total Rents Received: $500
Mortgage: $1,048
Property Expenses: $7,107.02 (Labor and Materials for apartments)
National Grid: $8.28
Total Profit: -$7,663.30
The losses continue to pile up, and I can’t believe I ended 2018 with both apartments of Property #5 still vacant. The good news is that I started getting more calls almost immediately after the holiday season was over, so maybe I can get something rented out in January.
Net Real Estate Profit for December 2018: -$7,436.03 [2017: $2,762.13]
The attic apartment is finally starting to take shape. The painting is just about done, the ceiling grid is almost in, and both Gonzalez and Floyd should be done with their work by the end of the week. With any luck, I should be able to get the place completely finished by the end of January. Then, I can be completely focused on getting the apartments rented out, and start making a profit by the end of February. These losses are getting depressing!
Just like December, the big focus in January is to get apartments rented out. The problem is that I’ll be on vacation starting on Monday, January 14th. I wouldn’t have minded waiting until the 21st to give me more time to rent apartments and I really hate to leave them empty to go on vacation, but I really have to get out of here while I still have a job. The new supervisor has it in for me and has been changing the rules every fucking week in hopes of getting me fired. I don’t want to give her more time to get me fired and have me miss out on over $1,200 of worry-free vacation money. When I come back, it’ll be fine if she gets me fired because I would’ve already used up my vacation time and that’s as far as I can go.
Let’s hope January starts off on the right foot, because I need all the luck I can get to not retire broke.
P.S.: One of my big problems in renting out apartments is that they’re never finished when I’m showing it. I need to add a finishing aspect when dealing with handymen doing work for me, but I also need to be able to afford it. I currently tell them to fix shit, paint shit, and that’s it. My belief is that I'll come in afterwards and clean everything up to save some money, but I usually end up leaving it for someone else. From now on, I need to make sure the apartment is finished after a handyman is done so that I no longer have to show apartments and say “Yes, the only thing that needs finishing is…”. I’ve missed out on at least two tenants taking an apartment due to things not being finished. If I can negotiate an affordable price, finishing has to be in the deal.
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