I remember reading somewhere (I forget where), that generating wealth through real estate investing is boring. If you've got a good investment, the checks just roll in each month. I'm starting to feel that way with my Houston apartment complex investment. It's been almost a year since I first invested in this complex and each month, report has been very similar - vacancies are down, profit is up, etc. Last month was no exception. I continue to have no complaints with the property or property managers.
The report for May was good. Revenue was up slightly over April's figure, vacancies and bad debt decreased. Cash flow for the month was just over $12,000 - lower than normal due to the final payment for painting the exterior of the property. Cash flow should return to the $20,000+ level next month. No other significant expenses are planned for the property. The planned property improvements and hurricane damage repairs are complete.
This is the kind of boredom I like!
Tuesday, June 23, 2009
Another Boring Month of Profits
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4 comments:
Good for you Shaun! If that's boredom, I hope I get bored to death.
Hey Shaun, if you think that investing is a boring task than why have you invested in the real estate???
Boise real estate
Adrin - you miss my point. Yes, it is boring, but when profits come in each month, I like boring!
Well Shaun, in your case being bored is still a profitable venture. Nice blog post. Kudos to you.
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