Quick and Dirty Update on Multi Unit - July

[Deborah Burian]

More real, true, and accurate accounting of the multi-unit project...

Collected Rents = $3499

Actual Expenses = $3883

• Repairs and Maintenance - $505
• Office Expense, including some one time stuff and legal fees - $645
• Utilities - $323
• Insurance - $303
• 5% Reserve - $175
• 10% Management - $350
• Taxes - $331
• Mortgage - $1251

Or, if you prefer, a loss of $384. I guess I didn't earn my management fee this month.

On the brighter side (Pollyanna always has her say), Mr. Deadbeat did finally pay his rent, it was just deposited in August, Section 8 will eventually kick in their $225, and we had a approx $500 in one time office costs including buying nice signage and legal fees for Mr. D. Still very easy to see where this will be profitable, then the additional units will drop right straight to the bottom line.

.But... Isn't she PRETTY! This is the new roof going on the historic duplex that started the whole thing.