A Peek into the Finances

I’ve been several months without rental financials. We had our credit cards compromised and reissued again, our bank got a new system that makes it difficult to import details into Quicken, and a refinance messed up several of our auto payments, so we’ve been in a whirlwind of sorting things out. But hopefully we’re back on the road to timely feedback.

Last year we ended the year at a CAP rate of 10, our goal. This year we could see 11, and we can experience $5,000 more in unexpected costs to still get to 10. What a difference e a year makes, with less move outs. This year our properties are ranging from 9.9 to 12.2. Another way to look at it is a range of $156 to $320 per door per month, pretax.

The dad of our heroine user paid us this month. So that move out cost us $1023 and we were able to recoup $838. Our second move out was smooth, our only expense was replace some flooring for $600, due more to wear and tear than tenant damage. Yes, this is a much better year!