Thursday, July 13, 2017

Income/Expenses: June 2017

This post is a little late, and I have to keep it short unfortunately.  But I wanted to post it before I fell too far behind and missed it!

I'll cut right to the chase:

General Thoughts on INCOME:
1) Income was thankfully very high this month due to somewhat of a 'bonus' at work.

General Thoughts on EXPENSES:
1) Expenses were also high thanks to 'travel', which was mostly just two flights from NY to Seattle, hotel/car, etc. to go on our family cruise to Alaska that I mentioned in an earlier article.  It was a blast, but definitely pricey. 

2) And I know shopping appears very high, as well.  Some of you may be thinking - "this guy spends money like crazy. What are you thinking!" But literally it was only 3 purchases, and none of them were "fun": 1) new military uniforms for work ($775, and was a mandatory purchase),  2) a race registration for the Army 10miler ($70 I think), and 3) printer ink. lol. See? Nothing really fun or exciting, but $876 spent nonetheless! Ouch. The uniforms were the significant bulk of the costs, and all were required for my job.

Well, unfortunately I have to go. I'm happy with our overall savings rate this month of about 40%, and I've updated my Savings tab, above.  We knew the uniforms and cruise were going to be expensive, so we tried to not spend really anywhere else.  Of course, all of the surplus went towards debt repayment.  Yep, still doing that. Ugh!

Thanks for reading!

Dan

Friday, July 7, 2017

1 Year of Passive Income Dude! The Highlights!

Several days ago my second son turned one year old. What a cool event in my life! Also several days ago, this blog turned one year old! Also very cool!

Passive Income Dude was launched on 01 July 2016, and it is great to have one year now fully completed in the books!  Since the start of this blog, a lot has happened in my own life and in my passive income journey, and since I sometimes share details about my own life in addition to my investments, etc., I thought it would be interesting to share a relatively comprehensive list of highlights that have happened since this blog was first created one year ago.  I'll stick to only the most important things from three categories: my Passive Income, my Investments, and my Personal Life.  Here we go!

Saturday, July 1, 2017

Passive Income Report: June 2017 (Record!)

It is time again for my Monthly Progress Review, and I'm excited because I always love reporting June's #s.

To start however, the verse "he who exalts himself will be humbled, but he who humbles himself will be exalted", has been on my mind a lot lately.  As such, I hope these reports show my excitement and thankfulness for clear signs of progress, hard work, and blessings coming to fruition, but that they also do not appear as me trying to exalt myself.  That's not the point of these posts. The point is to track progress.

In each progress review I will list a summary of all dividends I received, the rental income I received, and any purchases I made from that particular month.

This monthly report covers June 2017.  
I hope you enjoy these posts and that we can learn how to grow our passive income streams and build real long-term wealth together! 

General Thoughts on This Month: June was a great month, as many of my mutual funds saw large payouts. And additionally, the rental property segment of my portfolio also picked up into a new gear, which should continue to accelerate through the second half of this year.  This was also the first month of 2017 where I had 4-digit passive income; a great accomplishment from many years of hard work, sacrifice, and persistence.

Read More to see how I thankfully earned $1,058.48 this month in passive income!

Wednesday, June 28, 2017

Purchased Costco! (COST)

I don't have much to say in this post other than to announce that I recently purchased a small (very small) amount of Costco.  To be specific, right at about $1000 worth.  I think Costco is a great company, and business in general, and EVERY time I go to Costco, no matter what particular state I am in (I recently visited Costcos in Arizona, Washington, and North Carolina, while traveling) and they are always PACKED with customers.  I couldn't sit on the sidelines anymore.

I was also excited to see the recent drop in share price thanks to the Amazon-Whole Foods bid, and so I picked up some shares of Costco believing the drop to be significantly overblown.

Finally, I believe in Charlie Munger to identify great businesses and I know Mr. Munger is a big believer in Costco as well.  I imagine Costco will do well for quite awhile, but unfortunately all of my available capital is still going towards paying down debt and real estate (minus this $1K), so this was all I could contribute.

My other idea was to short Tesla.  I cannot justify Tesla's share price in my head, at all.  It was either short Tesla or buy Costco.  From the date of my Costco purchase, Tesla shares have dropped around 20pts and Costco hasn't really moved. Blah.  Time will tell.

Well I suppose that's it. What are your thoughts on Costco?  Or on Tesla?  Thanks!

Passive Income Dude

Tuesday, June 20, 2017

Passive Income Report: May 2017

It is time again for my Monthly Progress Review, and I almost missed it! My family and I (my mom, brother, sister, and my wife....without the kids!) were on an Alaskan cruise for the last week or so.  I highly recommend one if you ever have the opportunity! What a blast.

In each progress review I will list a summary of all dividends I received, the rental income I received, and any purchases I made from that particular month.

This monthly report covers May 2017.  


I hope you enjoy these posts and that we can learn how to grow our passive income streams and build real long-term wealth together! 

General Thoughts on This Month: May was a relatively quiet month for passive income and, again, I hardly have anything to say but that I am thankful for what we received and that some income is always better than no income! Just sticking to the process with months like these.

Anyway, Read More to see how I thankfully still earned $417 this month in passive income...

Saturday, June 3, 2017

My 4th Rental Property Is Under Contract!

Hello all!

I'm sorry it has been awhile since I've last written.  Things have been extremely busy, but I am very happy to report that despite my 'projected plans' for investments, etc., a unique opportunity came my way and I now am under contract on another investment property! This property puts my total real estate investments now at 4 single family homes!

This was quite the blessing and (completely out of the blue, to be honest). I think there are a few famous sayings that really apply to what happened with this situation: first, opportunity favors the boldsecond, help others get what they want, and you'll get what you want;and third, you really can buy properties with no money down (albeit, this was a unique opportunity).  You'll see more how these apply in the rest of the post below.  They came to mind very quickly as I was reflecting on this experience.

Nonetheless, I'm excited about this investment deal, and I'd love to share the details with you now:

Wednesday, May 17, 2017

Income/Expenses: April 2017

Sorry this post is a little late.  It's been a little crazy lately with my Graduation from Duke. 

So I'll get right to it:

General Thoughts on this Month: Overall this month had a lot of larger expenses, making it very hard to achieve a high savings rate. I've said it before and I will say it again, it doesn't really matter how much money you make if you're spending it all! 

The road to wealth is in consistently having a large difference between what you earn and what you spend.  The 'extra' that you have at the end of each month, wisely invested, is what makes you wealthy.  See my Must Read Books and read The Richest Man In Babylon, where this point is really hit home.

Additionally, I've updated my all-time Savings Rate page here.

Without further adieu, listed below is a detailed display of all income and expenses specifically for the month of April 2017.  Every penny in and out, recorded!

Saturday, May 6, 2017

Passive Income Report: April 2017

It is time again for my Monthly Progress Review, the fourth of the year, and what a boring one it was.

In each progress review I will list a summary of all dividends I received, the rental income I received, and any purchases I made from that particular month.

This monthly report covers April 2017.  


I hope you enjoy these posts and that we can learn how to grow our passive income streams and build real long-term wealth together! 



General Thoughts on This Month: April was very slow for passive income. I hardly have anything to say but that I am thankful for the little we received and that some income is always better than no income!  This month was also the first month since PassiveIncomeDude was launched last July where my rental properties had negative cash flow.  Thankfully I received an escrow refund, otherwise this could have been a pretty low month (less than $50, which is why I said my comment above).

Anyway, Read More to see how I thankfully still earned $655 this month in passive income...

Monday, April 24, 2017

Our 3rd Rental Property Has A Tenant!

For those of you who have followed this blog over this past year, you'll know that my wife and I are moving again this summer, and as a result, our North Carolina property is quickly going to turn not into our home anymore, but into our 3rd rental property.

Well, I am happy to report that we just had a very nice couple sign a two year lease, at our asking price, with them moving in only 5 days after we move out! What an absolute blessing!

I've written about this before, but I was as concerned that this property would not be able to get our asking rental price, and I was also concerned that it would sit vacant for awhile.  With a very large mortgage, even one month of vacancy can seriously hurt your cash flow. And when you have several other properties, multiple vacancies for multiple months can put you in hot water in a hurry! I've said it before, but just because you've got a good investment doesn't mean that you can survive the short term liquidity problems. This very thing happens to many businesses and forces them into bankruptcy!  And so to have a tenant locked in now, at our asking price, for not one but TWO years, with only 5 total days of vacancy at the start, is about as good as I could have hoped.

As such, I wanted to provide a few of the financial details behind this investment, now that things are going from "projected numbers," to actual numbers starting on 01 June.