All Forum Posts by: David Shaun

Quote from @JD Martin:

Nice job! Looking over your numbers I'm surprised a couple of them are so low - mortgage expenses, repairs and capital expenses. Based on that number of units I would expect much higher figures - did you buy these buildings all/mostly cash? Even at a high cap rate you've got several million dollars of market value here, so I'm curious about your base numbers. This would make a good case study. 

Thank you. 

I budget 10% of rent for repairs, maintenance and capex. I happened to get lucky this year and had minimal expenses there. I don’t expect every year to be like this.

For the mortgages, I did some accelerated pay downs and refinanced when rates were more favorable. I also did a 1031 exchange from a different property that gave me a bunch of cash for one of these purchases.

Quote from @Brian G.:

@David Shaun sweet! So you are averaging $2k/mo for rent across your portfolio? Why is your mortgage cost so low at only $44k/year?

A little under. The income includes things like late fees, a rented garage, and utilities that are billed back to the tenant. 

I did some accelerated pay downs and refinanced when rates were more favorable. I also did a 1031 exchange from a different property that gave me a bunch of cash for one of these purchases.

Quote from @Garrett Dube:

That's a great accomplishment! What are you using to create that chart? 

 Thank you. I used sankeymatic.com after a bunch of massaging of the numbers in a spreadsheet. 

January marks the 13th anniversary of the purchase of my first rental property.  Since I learned a lot from this community, I wanted to share my success with you.  In 2024, I hit $200k in cash flow from my properties.  If you're interested in seeing how that all breaks down from an income and expense standpoint, I created this Sankey diagram to share with you:

As for me, I'm planning to leave my w-2 job and take a little career break before deciding what's next for me.  Best of luck to all you out there.