All Forum Posts by: Chris A.

Hey BP Community!

Just an update - been collecting rent smoothly, however today marks my first maintenance bill! $75 to repair the porch. 

Other than that - all is normal.

Cheers!

@Kevin Yi no maintenance issues or costs to date. It was a complete rehab so I dont expect any major capex for at least 5 years

Update 03-20-2019

Since the last time i've posted, I have been collecting rent regularly. There was a case where the tenant paid rent late, but we are now up to date with all payments. Just heard great news from PM - they have just resigned the tenant for another 2 years (cant believe its been 2 years already!) at $805 a month (previous was $795)

Cheers!

Update - August 2018 Rent Collected!

$795 Rent collected

($71.55) Management Fee (9%)

No Maintenance costs (:

From now on expect monthly checks to be collected on a regular basis - will only update when something out of the ordinary comes up! Hope this thread has been useful to everyone!

Happy Investing!

Update - July 2018 Rent Collected!

$795 Rent collected

($71.55) Management Fee (9%)

No Maintenance costs (:

Will update again next month! Cheers!

Update - June 2018 Rent Collected!

$795 Rent collected

($71.55) Management Fee (9%)

No Maintenance costs (:

Will update again next month! Cheers!

Update - May 2018 Rent Collected!

$850 Rent collected (795 rent + 55 late payment fee)

($71.55) Management Fee (9%)

($27.50) Management takes half of late fee

_______________________________________________________________

$750.95 in my pocket this month. 

No Maintenance costs (: - talked with the PM and their response:

"Hi Chris! Per the notes, looks like there was a "personal emergency" that came up but the tenant has let us know that payments should be back on track for next month. This tenant has been great and timely with payments so we won't start to worry yet, but if it becomes a pattern, we will make sure we put a quick stop to it. Thanks and hope you have a great rest of your week!" 

Will update again next month! Cheers!

@Kevin Yi 850sqft 2bd1ba

Thanks for  bringing that up! Totally forgot to mention spartan screwed up the tax in the pro forma they gave me. My annual tax is actually 745 i believe. Also just for the record, Spartan compensated me for their mistake.

Update - April 2018 Rent Collected!

$795 Rent collected

($71.55) Management Fee (9%)

No Maintenance costs (:

This marks the ONE YEAR ANNIVERSARY of rents collected and no maintenance (:

Will update again next month! Cheers!