June 2017 Financial Results

Recently I wrote a post about my adventures of purchasing my first multi-family investment property. Owning rental property has been an outstanding investment of my money thus far. I’m expecting to make a 17-18% return on investment this year and the best part about it is I’m not having to perform much of any work to earn it. Sure, I’ve had to write a few checks and field a few phone calls from my property manager but outside of that, things have been pretty much smooth sailing.

It occurred to me that it may be useful to document the financial results of my real estate investments as we go. So below you’ll find a breakdown of income earned and expenses paid for the month. As you can see, the month of June was a somewhat average month. When I say average I mean that it was very much in line with my estimates of income and expenses prior to purchase.

We welcomed a new tenant in apartment 7 which means all eight units are currently rented. I offered an incentive with my property manager to pay an additional $50 for each month that all units are rented, so this month he earned $300 as opposed to $250.

FYI, the green rows indicate that the tenant paid their rent on or before the 6th of the month, which is the grace period. The tenant in apartment 3 did not pay his rent until the 23rd so he was charged a $50 late fee.

Date Income Category Amount Description
06/06/17 Rent


Apt 1 rent
06/03/17 Rent


Apt 2 rent
06/23/17 Rent


Apt 3 rent (+ $50 late fee)
06/03/17 Rent


Apt 4 rent
06/23/17 Rent


Apt 5 rent
06/09/17 Rent


Apt 6 rent
06/03/17 Deposit


Apt 7 security deposit
06/09/17 Rent


Apt 7 rent
06/04/17 Rent


Apt 8 rent
Total Income


Date Expense Category Amount Description
06/03/17 Utilities


Water Bill
06/13/17 Utilities


Light Bill
06/21/17 Repairs


Apt 3 & Apt 6 – repair toilet flappers
06/21/17 Supplies


Apt 3 & Apt 6 – toilet flush valve & flapper
06/29/17 Management Fees


Property Management (+$50 all units filled)
06/30/17 Escrow


Escrow – taxes & insurance
06/30/17 Escrow


Escrow – capital expenditures
06/01/2017 Mortgage


Mortgage Payment
Total Expenses


Monthly Cash Flow


We had two minor repairs with the toilets in apartments 3 & 6. After all expenses for the month we ended with a cash flow of $1,561.84. This was all done with a assistance of property manager so I didn’t have to fix any toilets or even visit the property. This is what I call passive investing or letting my money work for me. My goal is to use the cash flow to fund additional properties and eventually I’ll be able to spend more of day days like this.

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