In these posts I review 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 July 2016.
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!
I received dividends from two companies, and two covered call options, this month:
Annaly Capital Management (NLY), and Prospect Capital (PSEC), Midstream Magellan Partners (MMP), and HCP Inc (HCP). Listed below are the details for each:
Rental Income Received
I currently have two rental properties, my Missouri Rental and my Colorado Rental. Listed below is the cash flow they provided after all expenses this month:
This was a very good month for rental income, but was one of my weakest months of the year for dividend income. That's the beauty of having multiple income streams - they can offset each other to still generate a very respectable $ in passive income. One other small positive note from this month was that my required escrow amount actually declined for my Missouri property, so now I expect to get $64/mo going forward. Cool!
From the two above rentals, I experienced an 'equity paydown' total of $931, which is not accounted for in the above passive income numbers. This is another reason why rental properties are incredible investments! Huge equity "earnings" paid for by your tenants. And this amount is $3 larger than May's report and is $16 larger than January's. Consider that for a second: by doing nothing at all, my 'passive income equity investment' (we'll call it) increased by $16 a month in only half a year! How long does it take to achieve that kind of increase with just dividends?
Therefore, for this month, Total Passive Income Received: $587.47
Both Roth IRAs are now maxed out (two goals complete!), so expect the purchases to be basically zero until I finish paying off my family debt, which is another one of my goals for the year.
This was still a great month for my passive income portfolio. With the addition of this month's income to my Progress Tab I now have earned $4103 this year in passive income. With over half of the year completed, I am well on my way to achieving the most important of my passive income goals, reaching $10,000! I know there may be some doubters at this point, but we will see!!
As always, I appreciate your thoughts and insight.
Thanks for reading,
Passive Income Dude
Passive Income Dude