The house I listed in March remains unsold, but I do have an offer on it. My agent is working to improve the offer, as it was too low for me to accept as-is. The empty townhouse was rented in record time. This is a new management company and they did an outstanding job finding a new tenant. My handyman also did excellent work getting the property in rent-ready condition. I will receive rent from this one starting in August.
The incompetent management company for two of my townhouses is holding the rent to pay to have trees trimmed. The trees do not belong to me but are hanging onto my property. Lastly, my tenants at the condo only paid $500 ($150 short) as one of them lost his job. Bottom line: I received NO rent on 4 properties, and a reduced amount on a 5th. It was a tough month.
July was my first month driving for Uber. I grossed $1,302. On Monday I will go over the expenses I had.
July Income $7,461
$1,795 Mystery Shopping
$1,302 Uber
$4,346 Rental Income
$1,302 Uber
$4,346 Rental Income
$18 Other Sources
Notes:.
- I don't include transactions in my retirement accounts. This includes rental income, dividends and capital gains and losses.
- I don't include changes in investments from capital gains/losses or dividends. Most of my investments are in retirement accounts anyway, but this category will grow as I start selling my rental properties and I will probably change this policy.
- I include merchandising and hospitality work in the mystery shopping category since the companies that I shop for provide this extra side work.
I'll guess you 2900 miles on your Uber car.
ReplyDeleteWow... that's almost exactly the number! How'd you guess? I should increase my productive (paid) miles over time, but getting started, I had a lot of unpaid mileage.
DeleteHow long until you can get rid of the incompetent management company? It sounds like switching all your properties to the new management company will improve your ROI quite a bit.
ReplyDeleteThat is a pretty good month for Uber. That is about how much I've made since I've started since I almost never drive for more than an hour or two and I didn't drive at all for the first three weeks of July. Also, I purposely stay in my slower suburb rather than the busy downtown area just because it is less hassle working in the burbs.
I can't switch soon enough to the new management company. I am visiting Birmingham in a couple of weeks with plans to get the ball rolling on firing the old management company.
DeleteI'll continue driving for Uber but it's going to take a backseat to meeting work and even some mystery shopping, since both pay better than driving for Uber. The key for me is reducing my unpaid miles, so starting my day with the first ping coming while I'm at home will be part of the plan moving forward.