JANUARY
Property X
Apt 1 - VACANT
Apt 2 - Consuela: $600
Total Rents Received: $600
Property Expenses: $800.91 (Alfonso Maintenance and Service Call Fee $95 + January Tax Bill $380.91 + Furnace switch replacement $325)
Water Bill: $0 paid of $110.85 [2018: $96]
Total Profit for Anita: -$200.91 [2018: -$47.83]
Property 1
Apt 1 – Denise: $0
Apt 2 - Sebastian: $875
Total Rents Received: $875
Mortgage: $840
National Grid: $0 of $107.24 paid (Apt 1); $0 of $235.80 paid (Apt 2) [2018: $189.91]
Property Expenses: $76.84 (Medicine Cabinet & Shutoff Valve)
Water Bill: $0 of $95.89 paid [2018: $96]
Total Profit: -$41.84 [2018: $281.09]
Property 2
Apt 1 – Brenda: $775
Apt 2 - Edward and Gabby: $750
Total Received: $1,525
Mortgage: $755
Property Expenses: $0
Water Bill: $0 of $93.91 paid [2018: $96]
Total Profit: $770 [2018: $620]
Property 3
Apt 1 – Danny and Maria: $710
Apt 2 – Emily: $670
Apt 3 – Rory: $600
Apt 4 – VACANT
Total Rents Received: $1980
Mortgage: $767 (down from $882)
Property Expenses: $100 (water line replacement)
National Grid: $0 paid of $439.85 bill [2018: $444.75]
Water Bill: $0 paid of $2,133.75 bill [2018: $164.78]
Total Profit: $1,113 [2018: $683.47]
Property 4
Tenant Latisha: $900
Mortgage: $608
Property Expenses: $0
Water Bill: $0 of $35.90 paid [2018: $30]
Total Profit: $292 [2018: -$442]
Property 5
Apt 1 – VACANT
Apt 2 – Rich: $500
Apt 3 – NEW TENANT – Mickey and Alex: $1,490 ($725 sec dep, $765 rent)
Apt 4 – VACANT
Total Rents Received: $
Mortgage: $1,048
Property Expenses: $11,253.46 (Attic materials, Floyd payoff, Jerry labor)
Application Fees: $40
National Grid: $0 paid of $87.04 bill (Apt 3); $0 paid of $252.71 bill (Attic)
Water Bill: $0 paid of $201.64
Total Profit: -$10,271.46
Net Real Estate Profit for January 2019: -$8,138.30 [2018: $1,142.56]
FEBRUARY
Property X
Apt 1- VACANT
Apt 2 – Consuela: $600
Total Rents Received: $600
Property Expenses: $60 (Alfonso Maintenance Fee)
National Grid: $0 paid of $368.86
Total Profit for Anita: $540 [2018: $588]
Property 1
Apt 1 - Denise: $725 (back rent)
Apt 2 - Sebastian: $875
Total Rents Received: $1,600
Mortgage: $840
National Grid: $0 of $113.80 paid (Apt 1 Final Bill); $114.25 of $457.08 paid - $342.83 remaining - (Apt 2 $221.28) [2018: $250.88]
Property Expenses: $397.20 (Gas Leak repair $97.20, Toilet fix $70, and Eviction $230)
Total Profit: $248.55 [2018: $295.92]
Property 2
Apt 1 – Brenda: $775
Apt 2 - Edward and Gabby: $750
Total Received: $1,525
Mortgage: $755
Property Expenses: $52.36 (Screen door fix and deadbolt installation)
Total Profit: $717.64 [2018: $771.82]
Property 3
Apt 1 – Danny and Maria: $710
Apt 2 – Emily: $670
Apt 3 – Rory: $600
Apt 4 – VACANT
Total Rents Received: $1,980
Mortgage: $767 (down from $882)
Property Expenses: $
National Grid: $186.03 paid of $1,001.02 bill ($814.99 remaining; Feb $561.17) [2018: $656.19]
Water Bill: $533 paid of $2,133.75 bill ($1,600.75 remaining)
Total Profit: $493.97 [2018: $121.32]
Property 4
Tenant Latisha: $900
Mortgage: $608
Property Expenses: $0
Total Profit: $292 [2018: $802.80]
Property 5
Apt 1 – VACANT
Apt 2 – Rich: $500
Apt 3 – Mickey and Alex: $0 (paid rent last month)
Apt 4 – VACANT
Total Rents Received: $500
Mortgage: $1,048
Property Expenses: $2,695.37 (Gonzalez payoff, attic materials, tub refinish, oven igniter replacement)
Application Fees: $100
National Grid: $0 paid of $302.57 bill (Final Bill Apt 3); $0 paid of $420.48 bill (Attic, Feb $167.77)
Total Profit: -$3,143.37
Net Real Estate Profit for February 2019: -$1,391.21 [2018: $1,991.86]
Two months of complicated real estate bookkeeping in one blog. No wonder it took so damned long! Nevertheless, let's look at what happened with each property individually.
Property X
Nothing much happened at Property X, as the downstairs remains vacant after evicting Monica and her family. We did end up turning back on the power in the apartment, as we realized that the upstairs and downstairs furnaces are somehow connected. When the downstairs gas is off, the upstairs apartment starts having problems. So we turn it on and pay the bill rather than deal with 2am "no-heat" calls from Consuela. Anita didn't start bugging me about the apartment until the end of February, so I'm guessing she will be wanting to get the work done sometime in March. Alfonso and I both believe we can get $850 for the three-bedroom, two-bathroom apartment, so that would be a great increase in profits that coincides with the increase in taxes due to the sidewalk construction.
Property 1
Moving in Denise was a horrible idea. I originally did it because the other prospective tenants had kids, and I had three more weeks in the basement apartment. But the three weeks of child-less tenancy above me was replaced by cigarette smoke, loud phone calls and, most importantly, no rent. I waited until I got back from the Brooklyn vacation and then had Marvin Wassle take her to eviction court. Since Denise is on assistance, she was successfully able to argue that the place had lead so her assistance wouldn't pay (which was bullshit by the way). The judge ordered her to pay $725 right after the court date, then $725 on March 1st, and finally $760 on March 15th to catch up on rent. Denise made the first payment, but gave me a list of things to take care of. Ugh! Bitch didn't pay rent since she moved in but wanted things taken care of. Typical loser. Hopefully she can make those payments because I really need the money to pay debts in March. If not, I'll be glad to throw her worthless ass out because I've gotten several calls for a two-bedroom apartment of that size.
Property 2
Brenda needed the screen door fixed and a deadbolt installed on the back door. My issue with her is that it's her mom who calls about property issues, not her. And her mom's tone of voice is a little authoritative which is also annoying, especially when the issues are minor. Anyway, that's pretty much all that happened at the property so far. Thank the fuck!
Property 3
There was a water leak that had been going on for months, and it turned out to be a running toilet in Apartment 1. Why Danny and Mara didn't tell me about it is a mystery. So I received the water bill of $2,133.75 and almost passed out. $2,133!!! I tried to argue to the Water department that I've had this issue at other properties and didn't receive a bill that high, but they didn't give a fuck. So I paid $533 to get into a payment plan which has me pay $200 a month. Meanwhile, Apartment #4 remains vacant. With all the bills piling up, I simply don't have the money to do the renovations needed to get it rented out. Maybe I'll get some luck in March, but I wouldn't be surprised if that place remained vacant until May or June.
Property 4
Nothing happened at Property 4. I love Latisha!
Property 5
While I've had so many issues getting Apartment 1 rented out, Apartment 3 generated high interest and was rented out within the first week it was advertised. This leads me to believe that the problem people have with Apartment 1 is the small size of the apartment, not the area or any exterior issues. Anyway, Mickey and Alex are a young couple with a baby and two dogs. I had a choice between them and a single mother of two kids, but the single mother had absolutely no control of those kids while she was looking at the apartment. Also, Mickey and Alex's landlord gave them a glowing recommendation, while the single mother lived at home with family. So I chose Mickey and Alex, and then I went on vacation to Brooklyn.
When I got back, I realized that I had made one big mistake. Whenever a tenant moves in with a dog, I have to meet the dog BEFORE they fill out the application. But because their move-in coincided with my trip to Brooklyn, I stupidly didn't check out the dogs before I left. The dogs bark constantly when no one is home, and poor Richard is in the apartment in front of them having to hear their barking whenever he gets home in the afternoon. The only good news is that Mickey and Alex are an awesome young couple. Despite them having a kid at a young age, they both work very hard and are extremely respectful. So I honestly think I can work the dog situation out with them. If not, I can always throw them out at the end of their six-month lease so it's all good.
The main goal in March is to finish the attic apartment. That fucking place has decimated my profits since September and I'm sick of having Alfonso and his dirty ass workers in my apartment. Finishing everything in March won't be easy since I'm planning to pay my National Grid and water bills in March as well. But it has to be done. March should be my last month of working at the bank job, so I'd like to care of my major debts this month to make paycheck retirement a little easier in April.
Property X
Apt 1 - VACANT
Apt 2 - Consuela: $600
Total Rents Received: $600
Property Expenses: $800.91 (Alfonso Maintenance and Service Call Fee $95 + January Tax Bill $380.91 + Furnace switch replacement $325)
Water Bill: $0 paid of $110.85 [2018: $96]
Total Profit for Anita: -$200.91 [2018: -$47.83]
Property 1
Apt 1 – Denise: $0
Apt 2 - Sebastian: $875
Total Rents Received: $875
Mortgage: $840
National Grid: $0 of $107.24 paid (Apt 1); $0 of $235.80 paid (Apt 2) [2018: $189.91]
Property Expenses: $76.84 (Medicine Cabinet & Shutoff Valve)
Water Bill: $0 of $95.89 paid [2018: $96]
Total Profit: -$41.84 [2018: $281.09]
Property 2
Apt 1 – Brenda: $775
Apt 2 - Edward and Gabby: $750
Total Received: $1,525
Mortgage: $755
Property Expenses: $0
Water Bill: $0 of $93.91 paid [2018: $96]
Total Profit: $770 [2018: $620]
Property 3
Apt 1 – Danny and Maria: $710
Apt 2 – Emily: $670
Apt 3 – Rory: $600
Apt 4 – VACANT
Total Rents Received: $1980
Mortgage: $767 (down from $882)
Property Expenses: $100 (water line replacement)
National Grid: $0 paid of $439.85 bill [2018: $444.75]
Water Bill: $0 paid of $2,133.75 bill [2018: $164.78]
Total Profit: $1,113 [2018: $683.47]
Property 4
Tenant Latisha: $900
Mortgage: $608
Property Expenses: $0
Water Bill: $0 of $35.90 paid [2018: $30]
Total Profit: $292 [2018: -$442]
Property 5
Apt 1 – VACANT
Apt 2 – Rich: $500
Apt 3 – NEW TENANT – Mickey and Alex: $1,490 ($725 sec dep, $765 rent)
Apt 4 – VACANT
Total Rents Received: $
Mortgage: $1,048
Property Expenses: $11,253.46 (Attic materials, Floyd payoff, Jerry labor)
Application Fees: $40
National Grid: $0 paid of $87.04 bill (Apt 3); $0 paid of $252.71 bill (Attic)
Water Bill: $0 paid of $201.64
Total Profit: -$10,271.46
Net Real Estate Profit for January 2019: -$8,138.30 [2018: $1,142.56]
FEBRUARY
Property X
Apt 1- VACANT
Apt 2 – Consuela: $600
Total Rents Received: $600
Property Expenses: $60 (Alfonso Maintenance Fee)
National Grid: $0 paid of $368.86
Total Profit for Anita: $540 [2018: $588]
Property 1
Apt 1 - Denise: $725 (back rent)
Apt 2 - Sebastian: $875
Total Rents Received: $1,600
Mortgage: $840
National Grid: $0 of $113.80 paid (Apt 1 Final Bill); $114.25 of $457.08 paid - $342.83 remaining - (Apt 2 $221.28) [2018: $250.88]
Property Expenses: $397.20 (Gas Leak repair $97.20, Toilet fix $70, and Eviction $230)
Total Profit: $248.55 [2018: $295.92]
Property 2
Apt 1 – Brenda: $775
Apt 2 - Edward and Gabby: $750
Total Received: $1,525
Mortgage: $755
Property Expenses: $52.36 (Screen door fix and deadbolt installation)
Total Profit: $717.64 [2018: $771.82]
Property 3
Apt 1 – Danny and Maria: $710
Apt 2 – Emily: $670
Apt 3 – Rory: $600
Apt 4 – VACANT
Total Rents Received: $1,980
Mortgage: $767 (down from $882)
Property Expenses: $
National Grid: $186.03 paid of $1,001.02 bill ($814.99 remaining; Feb $561.17) [2018: $656.19]
Water Bill: $533 paid of $2,133.75 bill ($1,600.75 remaining)
Total Profit: $493.97 [2018: $121.32]
Property 4
Tenant Latisha: $900
Mortgage: $608
Property Expenses: $0
Total Profit: $292 [2018: $802.80]
Property 5
Apt 1 – VACANT
Apt 2 – Rich: $500
Apt 3 – Mickey and Alex: $0 (paid rent last month)
Apt 4 – VACANT
Total Rents Received: $500
Mortgage: $1,048
Property Expenses: $2,695.37 (Gonzalez payoff, attic materials, tub refinish, oven igniter replacement)
Application Fees: $100
National Grid: $0 paid of $302.57 bill (Final Bill Apt 3); $0 paid of $420.48 bill (Attic, Feb $167.77)
Total Profit: -$3,143.37
Net Real Estate Profit for February 2019: -$1,391.21 [2018: $1,991.86]
Two months of complicated real estate bookkeeping in one blog. No wonder it took so damned long! Nevertheless, let's look at what happened with each property individually.
Property X
Nothing much happened at Property X, as the downstairs remains vacant after evicting Monica and her family. We did end up turning back on the power in the apartment, as we realized that the upstairs and downstairs furnaces are somehow connected. When the downstairs gas is off, the upstairs apartment starts having problems. So we turn it on and pay the bill rather than deal with 2am "no-heat" calls from Consuela. Anita didn't start bugging me about the apartment until the end of February, so I'm guessing she will be wanting to get the work done sometime in March. Alfonso and I both believe we can get $850 for the three-bedroom, two-bathroom apartment, so that would be a great increase in profits that coincides with the increase in taxes due to the sidewalk construction.
Property 1
Moving in Denise was a horrible idea. I originally did it because the other prospective tenants had kids, and I had three more weeks in the basement apartment. But the three weeks of child-less tenancy above me was replaced by cigarette smoke, loud phone calls and, most importantly, no rent. I waited until I got back from the Brooklyn vacation and then had Marvin Wassle take her to eviction court. Since Denise is on assistance, she was successfully able to argue that the place had lead so her assistance wouldn't pay (which was bullshit by the way). The judge ordered her to pay $725 right after the court date, then $725 on March 1st, and finally $760 on March 15th to catch up on rent. Denise made the first payment, but gave me a list of things to take care of. Ugh! Bitch didn't pay rent since she moved in but wanted things taken care of. Typical loser. Hopefully she can make those payments because I really need the money to pay debts in March. If not, I'll be glad to throw her worthless ass out because I've gotten several calls for a two-bedroom apartment of that size.
Property 2
Brenda needed the screen door fixed and a deadbolt installed on the back door. My issue with her is that it's her mom who calls about property issues, not her. And her mom's tone of voice is a little authoritative which is also annoying, especially when the issues are minor. Anyway, that's pretty much all that happened at the property so far. Thank the fuck!
Property 3
There was a water leak that had been going on for months, and it turned out to be a running toilet in Apartment 1. Why Danny and Mara didn't tell me about it is a mystery. So I received the water bill of $2,133.75 and almost passed out. $2,133!!! I tried to argue to the Water department that I've had this issue at other properties and didn't receive a bill that high, but they didn't give a fuck. So I paid $533 to get into a payment plan which has me pay $200 a month. Meanwhile, Apartment #4 remains vacant. With all the bills piling up, I simply don't have the money to do the renovations needed to get it rented out. Maybe I'll get some luck in March, but I wouldn't be surprised if that place remained vacant until May or June.
Property 4
Nothing happened at Property 4. I love Latisha!
Property 5
While I've had so many issues getting Apartment 1 rented out, Apartment 3 generated high interest and was rented out within the first week it was advertised. This leads me to believe that the problem people have with Apartment 1 is the small size of the apartment, not the area or any exterior issues. Anyway, Mickey and Alex are a young couple with a baby and two dogs. I had a choice between them and a single mother of two kids, but the single mother had absolutely no control of those kids while she was looking at the apartment. Also, Mickey and Alex's landlord gave them a glowing recommendation, while the single mother lived at home with family. So I chose Mickey and Alex, and then I went on vacation to Brooklyn.
When I got back, I realized that I had made one big mistake. Whenever a tenant moves in with a dog, I have to meet the dog BEFORE they fill out the application. But because their move-in coincided with my trip to Brooklyn, I stupidly didn't check out the dogs before I left. The dogs bark constantly when no one is home, and poor Richard is in the apartment in front of them having to hear their barking whenever he gets home in the afternoon. The only good news is that Mickey and Alex are an awesome young couple. Despite them having a kid at a young age, they both work very hard and are extremely respectful. So I honestly think I can work the dog situation out with them. If not, I can always throw them out at the end of their six-month lease so it's all good.
The main goal in March is to finish the attic apartment. That fucking place has decimated my profits since September and I'm sick of having Alfonso and his dirty ass workers in my apartment. Finishing everything in March won't be easy since I'm planning to pay my National Grid and water bills in March as well. But it has to be done. March should be my last month of working at the bank job, so I'd like to care of my major debts this month to make paycheck retirement a little easier in April.
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