My main goal in October was to find a second property to buy and I did just that. I found a property for sale by a turnkey provider which I’m looking to close in the next two weeks (stay tuned for a blog post with the details on house #2). I also found the loan that I’ll be using to fund house #2 and while it’s not as attractive as the loan I used for house #1, it will help me leverage my money.
As for performance meters, both my passiveness and cash flow were green! I had no problems with house #1, didn’t hear from my turnkey provider at all (besides the wire transfer for rent, which is really all I want to hear about). Cash flow, as expected, was $398.83. Although this will take a hit in the next month or two as I need to pay yearly county taxes (which come out to $679), this month’s cash flow was right on key.
Here’s the breakdown for cash flow during October:
| Rent | $795.00 |
| Mortgage | -$316.67 |
| Insurance | $0.00 |
| Taxes | $0.00 |
| Management | -$79.50 |
| Total cash flow | $398.83 |
The total cash flow this month comes out to $398.83, making the total cash flow thus far $1,028.47. Made my first grand in REI, woot woot!
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