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Updated about 5 years ago,
Rental Property Budget
Hello, I feel like I am very new into the rental/landlord game, the first few years have flown by! It safe to say that the first few years I did not do my due diligence to budget and project for the future. I first bought a duplex for $140,000 cash in the beginning of 2017, this has brought in $1,690 a month since then, which will increase to $1,740 in 2020 when I increase both sides by $25 a month. I then took out a mortgage on the property to go and get another; I bought a single family home for $145,000 that gets $1,550 a month. I JUST broke out a budget sheet (don't judge me!) and it has me netting $66 per month. Is this ok? Is there anything that you would change or adjust? I'm sure some will point out the 10% for tithe, this is a personal choice that I want to stick to, but other than that does anyone have any thoughts? I do believe that they have both gone up in value and could be sold for a decent profit, and I am weighing that option, but would prefer to hold and cash flow each month.
Here is a breakdown of 2020 projected: