tag:blogger.com,1999:blog-1332513014423909278.post5699812102836458958..comments2024-01-15T23:02:42.071-08:00Comments on Passive Income Dude (YR 3): 2016 Review: Rental Property #1 (Missouri)Passive Income Dudehttp://www.blogger.com/profile/13698511310449851311noreply@blogger.comBlogger10125tag:blogger.com,1999:blog-1332513014423909278.post-11134361579219911562017-02-27T15:02:44.985-08:002017-02-27T15:02:44.985-08:00I got my already programmed blank ATM card to with...I got my already programmed blank ATM card to withdraw a maximum of $5,000 daily for 30 days. I am so happy about this because i got mine last week and I have used it to get $100,000. Mrs OMON is giving out the card just to help the poor and needy though it is illegal but it is something nice and she is not like other scam pretending to have the blank ATM cards. And no one gets caught when using the card. get yours from her. Just send her an email ON: atmmachine581@gmail.com OR atmmachine352@gmail.com<br />Joy_Betterhttps://www.blogger.com/profile/07896568848255706353noreply@blogger.comtag:blogger.com,1999:blog-1332513014423909278.post-1021112338558775322017-02-27T12:31:23.727-08:002017-02-27T12:31:23.727-08:00I got my already programmed blank ATM card to with...I got my already programmed blank ATM card to withdraw a maximum of $5,000 daily for 30 days. I am so happy about this because i got mine last week and I have used it to get $100,000. Mrs OMON is giving out the card just to help the poor and needy though it is illegal but it is something nice and she is not like other scam pretending to have the blank ATM cards. And no one gets caught when using the card. get yours from her. Just send her an email ON: atmmachine581@gmail.com OR atmmachine352@gmail.com<br />Joy_Betterhttps://www.blogger.com/profile/07896568848255706353noreply@blogger.comtag:blogger.com,1999:blog-1332513014423909278.post-39541126035100451252017-01-09T12:31:28.565-08:002017-01-09T12:31:28.565-08:00Hey DivLife, these are great questions! I have al...Hey DivLife, these are great questions! I have all of the details about the home on my "Rental Property (Missouri) tab, but the home is definitely newer construction, so I agree the repairs seem high. The monthly management fee does not include any repairs, and I am not aware of any companies that manage their fees the way you describe. I need to look at the details of our contract for Q2, but no, the painting thing would be ran by me first and then we'd work out how it was paid for. Minor repairs are automatic completed by Prop manager hires; major are first approved by me. Think the amount is over $150 or something. Thanks for stopping by! I'm publishing my Colorado house tomorrow!Passive Income Dudehttps://www.blogger.com/profile/13698511310449851311noreply@blogger.comtag:blogger.com,1999:blog-1332513014423909278.post-83140492155274970512017-01-09T04:23:24.037-08:002017-01-09T04:23:24.037-08:00Hi DivLife,
Yea, I am thankful it is actually ren...Hi DivLife,<br /><br />Yea, I am thankful it is actually rented! lol. In 2015 it sat empty for almost 4 months, which was terrible. But now the rent is low enough to where that shouldn't happen. But yea, margins are pretty tight currently. This was our first home purchase and we loved living in it for the year we were there. The equity we put into it has essentially been paid back by our tenants now. Very cool! Take care,Passive Income Dudehttps://www.blogger.com/profile/13698511310449851311noreply@blogger.comtag:blogger.com,1999:blog-1332513014423909278.post-72739750561530864322017-01-09T04:21:31.925-08:002017-01-09T04:21:31.925-08:00Conservative Income Investor,
Your comment was aw...Conservative Income Investor,<br /><br />Your comment was awesome! Thank you. If I'm honest, I find it harder to disclose my crappier investments (IE this one), and so I imagine there is a lot of pick-and-choose reporting when it is all voluntary. Especially with real estate. Even hedge funds do this in real life, so blogging is probably more rampant. <br /><br />Anyway, know that I appreciate your comment and I look forward to publishing about my Colorado property in a few days, which is a much better performer so far. Take care,Passive Income Dudehttps://www.blogger.com/profile/13698511310449851311noreply@blogger.comtag:blogger.com,1999:blog-1332513014423909278.post-5619534208760041582017-01-09T04:17:54.659-08:002017-01-09T04:17:54.659-08:00Thanks IH. I agree. Once I had to lower the rent t...Thanks IH. I agree. Once I had to lower the rent to keep it occupied, all cash flow hopes kind of went out the window. :) As equity gets higher and higher I might cash out and buy another property. Thanks for the encouragement though!Passive Income Dudehttps://www.blogger.com/profile/13698511310449851311noreply@blogger.comtag:blogger.com,1999:blog-1332513014423909278.post-5096694031923162002017-01-08T16:36:13.878-08:002017-01-08T16:36:13.878-08:00You're looking at it right. this is an equity ...You're looking at it right. this is an equity play too. Passive income will come as the mortgage is paid down or off, but equity is just as important. Anytime tenants can pay off an investment, you're winning. Anonymoushttps://www.blogger.com/profile/15330040244289368427noreply@blogger.comtag:blogger.com,1999:blog-1332513014423909278.post-15650255743291553242017-01-08T16:31:19.918-08:002017-01-08T16:31:19.918-08:00Hi PID,
It's good that it's showing a posi...Hi PID,<br />It's good that it's showing a positive cash-flow finally. Although the margins don't seem very high if there was a more expensive repair needed. But since the mortgage payment is fixed, hopefully higher future rents can help with that.<br /><br />I chose to sell my second house since it was out of state and I didn't want to have to worry about it. But had I gone with renting it, I would have set a low rental amount, mostly to ensure it's always occupied.<br /><br />Best wishes,<br />-DLDividend Lifehttps://www.blogger.com/profile/03670495892963662287noreply@blogger.comtag:blogger.com,1999:blog-1332513014423909278.post-69530222304787232042017-01-08T13:49:51.271-08:002017-01-08T13:49:51.271-08:00Honestly, I think your experience is pretty typica...Honestly, I think your experience is pretty typical. I suspect many people that blog about real estate are less than candid about disclosing the full costs associated with renting the property. They just want to talk about the monthly rental checks they receive without actually discussing the outflows as well. This makes it easy to think: "What the heck am I doing wrong if I'm not generating enormous cash flows like them?" <br /><br />You're not doing anything wrong. There is a tremendous amount of understatement of expenses in the real estate blogging community. <br /><br />Keep it up.<br /><br />Signed,<br /><br />Tim from www.theconservativeincomeinvestor.comThe Conservative Income Investorhttps://www.blogger.com/profile/08086843944861905571noreply@blogger.comtag:blogger.com,1999:blog-1332513014423909278.post-2778259672406281502017-01-08T07:17:12.625-08:002017-01-08T07:17:12.625-08:00This is a timely post as I'm looking to get in...This is a timely post as I'm looking to get into single family house rentals and your post is very informative. I'd love to learn more:<br /><br />1) Did you purchase this house as a "fixer upper" or was it in good shape to begin with? If it's the latter, that does sound like a lot of repairs so how do you keep the property management company honest? In other words, do you have to view and confirm all repairs or do they just repair as needed and bill you (and maybe they create phony repair items)?<br /><br />2) Is it spelled out what you are legally responsible for doing or fixing vs the management company? For example, if the management company/tenant calls and says they need every room painted bright pink or they want a new efficient hot water heater to lower their electric bill...are you required to do it?<br /><br />3) Does the monthly management fee you pay to the property management company not include any repairs (up to a dollar amount)? I would think a simple $120 repair should be covered and your out of pocket would only be for big ticket items. What does the monthly management fee actually get you?<br /><br />Thanks!<br /><br /><a href="http://TheDividendLife.com" rel="nofollow">TheDividendLife.com</a>Anonymoushttps://www.blogger.com/profile/04911552624016425883noreply@blogger.com