August 2014 Income Report

I spent August continuing my research in real estate investing, specifically on turnkey real estate providers in markets that I’m interested in. I haven’t decided where my next purchase will be and with which provider but my goal is to purchase house number 2 during the month of September.

As for my first property, during the month of August, I received payment from my property management company for rent collected during July. I purchased the house during the month of July so I only received the rent payment for the last 10 days of the month that I owned the house. The only expense I had during the month of July was for the Property management company’s services for the same number of days. The reason I don’t have any other expenses (such as insurance or property taxes) is that I paid for the first year of insurance and $233.2 for 2014 city property taxes as part of the closing costs, and the county taxes of $697 will be due in October. I didn’t pay mortgage since my first payment is due September 1st. With that, August’s income report: