In May I finally evicted the deadbeat tenant in one of the townhouses. I also have a vacant home for sale, and I just fired my real estate agent and hired a new one. Even with two vacant properties I earned just short of five figures last month. My rental income was lower than normal, but I received a reimbursement check for our Puerto Rico trip and I also had some luck selling a book I bought at the Berkshire Hathaway meeting. I bought 20 copies of a commemorative 50th Anniversary compilation for $20 each. I shipped them home and put them on ebay. I grossed just over $1,100 (my cost was $400). After expenses, I will earn a profit of more than $400. I got lucky on timing, as Berkshire Hathaway began offering the book on Ebay for $25 as I was selling my last copies of the book.
May Income $9,582
$2,823 Mystery Shopping
$5,537 Rental Income
$5,537 Rental Income
$1,223 Other Sources
Notes:.
- I don't include transactions in my retirement accounts. This includes rental income, dividends and capital gains and losses.
- I include merchandising and hospitality work in the mystery shopping category since the companies that I shop for provide this extra side work.
$5,537 Rental Income, is that net after mortgage payments on rentals? Also do you keep a portion of "rent" in "escrow" for future repairs or just pay that out of the "net" rental income? Nice job on building your "net worth".
ReplyDeleteSquire, the $5,537 is gross. I do have two mortgage payments, as well as other costs such as insurance, taxes and repairs, which I report periodically. Fortunately the mortgage payments will go away one day while, presumably, the amount of rent I charge will go up.
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