Friday, September 1, 2017

Passive Income Report: August 2017 (Record x3!)

It is time again for my Monthly Progress Review, and I'm excited because this is my third record month in a row..thanks mostly to rental properties.

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 August 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: August was another record month for me, and the snowball is finally rolling, albeit still not fast enough yet (unfortunately) to reach my passive income goal for the year (agh!). But hey, that is ok. I had real estate expenses of over $230, but I still was able to increase my YoY growth for this month by 28.2%. That is very encouraging!

Read More to see how I earned $843.45 this month in passive income,

Dividends Received
Dividends were somewhat helpful with four stocks paying out:



*All dividends are always reinvested.

Rental Income Received
As mentioned last month, I now have four active rental properties, my Missouri Rental my Colorado Rental, and my two North Carolina rentals: North Carolina 1 and North Carolina 2.  Listed below is the cash flow that each of these properties provided this month:


As you can see, I actually had $125 carpet repair cost in my Colorado Home and a $115 smoke detector repair cost in my Missouri home. So despite over $230 in repairs, I still had positive rental cash flow of $680.50. I hope that this is an indicator that my risk is starting to decrease, as I can now cover repairs more easily and still be in the 'positive', but who knows! We'll see, but I am feeling good.

In summary, with dividends and rental cash flow combined, Total Passive Income Received: $843.45

Purchases
No purchases this month, or for the foreseeable future unfortunately.  I'm in debt big time (again, yes again, thanks to rental property #4).  I plan to pay down debt for about 3 months or so and then look to add to my wife's ROTH IRA as quickly as I can.

Thoughts on This Month
This was a great month for Passive Income.  Compared to last year's August total in 2016 of $658, my YoY growth for this month was 28.2%. 

With the addition of this month's income to my Progress Tab I now have earned $5,557 in total this year in passive income. A lot....but also not a lot., compared to where I need to be. That is cool to think though that now my one ROTH IRA can be completely funded by passive income if I wanted. Nice!

When compared to my goal, however, yikes! I am now over $3,000 behind the pace I need to be at in order to meet my primary Passive Income Goal  See a detailed graph of the progress and gap, here.

As I said last month, I still believe I WILL catch up, and will meet my goal.  These last 4 months of reports from September to December will be very interesting. I think I've stopped the bleeding in terms of falling more behind...now I just need to catch up! I anticipate huge months in SEP and DEC, where I can make up some ground. So we'll see what happens!

I'll close with the following quote: "Whoever loves money never has enough; whoever loves wealth is never satisfied with their income. This too is meaningless."

What a great warning.  Thanks for reading, and I always appreciate any comments,

Passive Income Dude 

20 comments:

  1. Another great update. Always love following your rental journey as well and seeing your portfolio of properties grow. Do you what you have to do to get your debt under control. I know once you are at a comfortable level you'll be buying some good old fashioned dividend stocks again. You picked up a pretty nice amount of dividends too for only four companies paying you. Keep up the good work.

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    1. Hey Keith THANKS! I always appreciate your comments! And thanks for the encouragement on the debt. I'm probably back up to about $20K total now, so kind of a big hole to get out of. But you're right, I am looking forward to getting back to buying dividend stocks again - they are a GREAT wealth creator. Big things ahead for the rest of this year and 2018! You da' man, thanks for stopping by!

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  2. Congrats on another great month. Passive income is good, whether it comes from dividends or rentals. Nice work.

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    1. Thanks IH - I completely agree. The goal is to grow the pile and let it provide for your expenses right? I always enjoy your updates as well!

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  3. Congrats on another great month. It is tough not having money to invest. I have shares in ENB.TO with a transfer agent, so I invested $125 because it is trading near a 52 week low. This is money I did not have to invest but it was commission free.

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    1. Thanks Investing Pursuits! I actually sometimes don't mind not having money to invest (PEs are pretty high right now!) but you're definitely right...it's better to have money to invest that to not have money to invest (like me right now!) :)

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  4. Interesting quote PID, I've never heard it before. Also, good report for August. That was a solid month for you in my book. Also, I hope to follow your footsteps one day by owning several rental properties. Right now, I only own one, in which I lived in and just moved out, but will be keeping it as a rental. This is my first time being a landlord (except for the roommates that were living with me), so it's all a learning experience. I have a professional management company though managing it, so of course that eats up a lot of the costs.

    Looking forward to September's report. I'm kind of excited for you.

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    1. THANKS DivPortfolio! I'm glad to hear that you've got a rental as well. Most of it depends on the details at the time of purchase, but I'm excited for you and hope that it turns out well. If it was a good one from the start, you'll see that it will crush any returns you could get from equities. And there's nothing wrong with professional property management...I have 3 out of 4 right now under property management, though I intend to self manage another in about 1yr. And thanks for your encouragement on SEP! I think if all goes according to plan it could be about $1.5K or so. Take care bro!

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  5. Hi

    Visiting your site for the first time.

    Seems like rental is very common there in the states. Other than the deductible expenses on tax, is the yield more attractive than dividend stock yield?

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    1. Hi B! Thanks for coming to my site and for commenting! I really appreciate it, so thank you. And to answer your question, yes, yields from buy-and-hold real estate investing are higher than yields on dividend stocks. Of course it depends on the details of your particular property purchase, but generally you can get higher yield returns and higher total returns with real estate. Thanks for commenting!

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  6. Hi PID,
    Congrats on a great month - it's good to see your fourth rental up and running and earning.
    Hope you had a great Labor Day Weekend!
    Best wishes,
    -DL

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    1. Hey thanks DivLife! Yea it is now "full-gear" if you will for my 4 properties. Ideally I can get a month where none of them have expenses! ...which hasn't happened yet. We will see! Take it easy,

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  7. Congrats on the great month. I enjoyed reading all about your rental properties. Someday when I'm a little braver I may start buying properties... for now, I'm sticking with dividends to create my passive income. Keep rolling your snowball! :)

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    1. Hey THANKS Meow! I need to update those pages with newer information. Thanks for commenting and stopping by though! Let me know if I can help at all with your real estate ambitions! Take care,

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  8. you will hit your goal im sure you have plenty of time to hit it. And your dividends were good also soon you will hit the goal with just those LOL. keep it up

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    1. Thanks DivandHobbies! I am actually not sure if I will hit it or not...too many competing priorities with expanding the portfolio and paying down debt. I think it is going to be a photo finish and will depend highly on real estate expenses. We will see but thanks for your vote of confidence!!

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  9. Three months in a row hitting records is impressive! Glad to see the rentals pulling some major weight and out pacing the repairs. The Roth IRA is my next step here too pretty soon. Need to take advantage of tax sheltered accounts every year first. Good luck on breaking more records for the rest of the year!

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    1. Hey thanks Daze!! Yea, I really hoped the second half of this year would be strong...I mean two rental properties became active (after thousands and thousands of dollars invested to get them, so you'd hope your passive income would increase!!). And I agree, your ROTH IRA is ALWAYS a must do. And thanks for the encouragement the rest of the year....I'm hoping for some monster months to help pay down all of this debt I'm currently in, lol. Take care,

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  10. Hey man, congrats on a strong month! Every time I read your income updates it makes me want to include my rentals, but for now I think I'll keep it simple stupid. Exciting to see the cash flow and leverage power of real estate though.

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    1. Yea man! Thanks! I tell you, I started including them once my strategy really morphed and grew from only Dividend Investing to actually a preference for rental property income. I actually changed my blog's name from a dividend-centered site to "passive income" because of it. I thankfully hit $920 in passive income in September only from rental properties, so I really should include it at this point. Take care!

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