April/May Update: Concerts, Beaches and Graffiti

Welcome to my monthly passive income update! For those new to the blog – I own 3 properties, an apartment, a townhome, and an apartment building with five 3-bedroom units.  The apartment is now owned completely in cash, while the townhome and 5-plex have mortgages which I’m trying to knock down as quickly as possible!  Now let’s get to the good stuff!

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It’s been a whirlwind couple of months which is why I’m including my passive income for both April and May together in one post.  While it was definitely busy with work – I had some pretty awesome times as well.

April finally saw the cold weather break, which meant some beautiful days outside exploring the city.  While Tokyo is usually pretty temperate throughout the year, the cold weather definitely gets old and I always welcome the warm spring days.

We also got the opportunity to see Coldplay live! This was one of my bigger expenses for the month at nearly $150 for a ticket, but considering I’d never been to a big concert and have been a huge fan of their music since high school, I decided to splurge a little and go for it.  The concert was amazing and was well worth the money in the end.

May ended up being an even more amazing month, because I was able to book a last minute trip to Hawaii at a great price.  My old colleague had offered up his house in Hawaii to me if I ever wanted a break from the real world, and finally decided to take him up on it.  His house was attached to a great resort on the Big Island, and thanks to his generosity the whole trip ended up being an absolute steal (even after buying him a great bottle of wine as a thank you!)

Our days were basically spent hanging out by the pool, walking along the beach, hiking, and hitting the gym most days.  It was a pretty big adjustment coming back to the real world to say the least…

I definitely could’ve gotten used to these sunsets every night

Pololu Valley hike – absolutely breathtaking views

After all of that it’s time to dig into the good stuff!

April was a relatively easy month with not a whole lot to write about…with May being about as big of a headache as any homeowner ever would like to deal with.

Net Income for April 2017: $2,262

Including Principal: $4,380

The specifics: 

Apartment: $1,200

Townhome: $1,995

5-Plex: $5,860

Total Revenue: $9,055

Expenses by Property:

Apartment: $488

$0 maintenance, $434 association fees, $54 management fees

Townhome: $414

$0 maintenance, $335 association fees, $79 management fees

5-Plex: $1,308

$0 maintenance, $239 electric, $674 water, $395 management

Mortgages (including tax):

Townhome: $1,750

5-Plex: $2,833

Total Expenses: $6,793

Now onto May….

My 5-Plex got hit with two or three pretty painful issues in May – first off we got a letter from the city stating that we were being fined for graffiti on our fence.  Obviously living in Tokyo I’m nowhere near being able to check on these things, and my property manager is generally at the property at least once a week.  He hadn’t noticed the graffiti, but it turned out it was on the side of the fence facing another property, and given the fence is mine, I got hit with a $275 fee to scrape it off of the fence.  If that wasn’t bad enough, the gas bills has been sent to the old owners for the past 5 months, and luckily the gas company was able to track us down, unluckily that was a $2200 expense.  And finally the nail in the coffin was a city inspection which left us with a few small issues to fix.  All in all I’m hoping there aren’t many more months like this, but as any real estate investor will tell you, if you can’t take the bad months then you’re not cut out for it at all.

Net Income for May 2017: $60

Including Principal: $2,200

The specifics: 

Apartment: $1,200

Townhome: $1,995

5-Plex: $5,860 + $291 (laundry room)

Total Revenue: $9,346

Expenses by Property:

Apartment: $488

$0 maintenance, $434 association fees, $54 management fees

Townhome: $414

$0 maintenance, $335 association fees, $79 management fees

5-Plex: $3,801

$275 graffiti wall repair, $200 general maintenance, $208 electric, $886 water, $2,232 gas

Mortgages (including tax):

Townhome: $1,750

5-Plex: $2,833

Total Expenses: $9,286

To read more about my story and more about the properties, check out my original passive income post or read more about me here!

 

 

 

 

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