Income Report #2 - May 2017 - kylekrason.com

Income Report #2 – May 2017

I got pretty beat up in May… Not by my investments or anything but by some personal things.

Had to replace the entire front brake system in my car, which is an old Civic (I’m banking on this car running for another like, 8 years.) That ended up costing me $784 which hurt pretty bad.. I’m not rich alright!!

So, my net worth is actually down a little bit compared to last month but that’s ok. Just further proof that the 9-5 is a trap.

Anyway, let’s get into this income report.

May 2017 Income ReportRevenue – $2,605

Rental Property – $2,600

This all came from Rents.

Affiliate Marketing Р$5

This came from just signing up for the Traveling Mailbox affiliate program. So this wasn’t actually really even revenue from my activity affiliate marketing.

Expenses – $1,562

Rental Property – $1,213

This is about as low of TOTAL expenses as I can possible have on this rental. Although it would be nice if it was lower.. I will absolutely take it.

There were no maintenance issues and WST was actually lower than average this month. Usually it’s $25-$35 higher than the $119.

I had a lease expire on June 1st and am not entirely sure what the status of that lease is. I called the property management company and after about 4 days trying, I got ahold of someone…

On the next income report there are 2 likely scenarios:

  1. The current tenant renews their lease, I take a $149 hit for the fee to renew, and we keep on moving.
  2. Tenant moves out, I’m left with a vacant unit, I get no rent for that unit for the month, and I have to forfeit the rent for the following month in order to pay the property management company to fill it. Total loss there would be about $1,250 in rent and another $15o in holding cost. OUCH! (begins to pray)

Wealthy Affiliate BannerLearning – $349

This cost was to pay for a full year of training with Wealthy Affiliate. I figure $349 isn’t a bad price to pay for access to the training they offer as well as the community.

It’s all online marketers trying to figure out a way to make money outside of a 9-5 job.

Those are my kind of peeps.

Profit – $1,043

At the end of the day, I still made over $1,000 doing nothing really.. I mean, the rental required some up front work, but now I just check the income statements they send over every month to make sure nothing funny is going on.

Traffic

I thought it might be pretty cool to share this. So, I currently have NO plan to drive traffic to this blog. Any traffic generated is completely organic and to be honest, I’m not sure where it’s coming from.

Unfortunately, much of my time right now is being consumed by another project that I’m working on. I’ll be sharing that sometime in the future, but this blog has dropped down on my list of priorities..

Nonetheless!! Here is the traffic for May:

May 2017 traffic

The metric that I’m really watching is Unique visitors. I’m most interested in the amount of people coming to the site that have never been there before. Ideally, I’d want this number to be above 1,000 each month for me to put any sort of advertisement up.

The early spikes in traffic can be explained.

On Wealthy Affiliate there is a forum thread where you can go and share you posts with other people. They will look at your page and give you feedback and in turn you do the same for them. It’s pretty cool actually.

The slight rise on May 17th, I have no idea about. I didn’t really have much action there. I think I may have shared a post or two on Facebook. That could have done it.

Takeaways

There are ebbs and flows with everything.. Although last month was awful as far as the real estate goes, this month was really good. It’s all about averages I suppose.

In total this year for the real estate I’m averaging over $600 in profit per month which is great.

There will be some cap-ex costs associated with the property long-term (new roof, electrical, etc). So let’s say that’s about a $200 cost per month… I’m still up around $400 per month.

PS: Another reason why real estate is so awesome is… this cash flow does not take into consideration the equity getting built or the tax breaks on the expenses.

If you have any questions about anything, please reach out! Talk soon.

-Kyle

One Response

  1. Allen Webb June 9, 2017

Leave a Reply