Vinyl siding and trim Oh MY!
Well I started on the vinyl siding the other day. It looks SOOOO much better than the decrepid old grey peeling paint and rotten wood. I've only got a little bit of it done but its nice. So in the early evening I'm doing vinyl siding and late at night I'm working on the interior.
Tonight I finsihed making trim boards for the bathroom, and get them installed and painted. I'm really happy with how its all shaping up. Once the bathroom is all done the rest of the interior doesn't need much, just a good cleaning and some small odds and ends. I suspect I'll be done on the inside by mid to late August, and hopefully I'll have at least a couple sides done by then on the vinyl.
It will be very rewarding to put the "for rent" sign up. Its really a strange feeling to think that a couple months worth of work in my spare time and some money invested will turn into 250 a month positive cash flow. I mean, I keep thinking about how hard I've worked my whole life, only to be broke most of it. I mean, I've had a few rare years where I made good money, but for the most part its been a tough road and a struggle. To think if I'd just pursue rentals I'd be up 250 a month every 2-3 months is kind of an inspiring thought. I mean in 3 years if I could do 4 of these a year, that would be 3000 a month positive cash flow rolling in. Thats a lot of money to play with when you consider your normal job pays all the bills and theres some left over from that. Like usually I have maybe 1000 left each month if nothing unexpected comes up. So this one little deal will be a 25% increase in expendable income. Pretty cool really.
Anyhow my goal is an extra 3k a month. I hope to achieve it in 3 years time. Wish me luck! The other encouraging part of this is that with each subsequent deal, it should become easier to get the next one. Saving up the down payment won't take as long.
Tonight I finsihed making trim boards for the bathroom, and get them installed and painted. I'm really happy with how its all shaping up. Once the bathroom is all done the rest of the interior doesn't need much, just a good cleaning and some small odds and ends. I suspect I'll be done on the inside by mid to late August, and hopefully I'll have at least a couple sides done by then on the vinyl.
It will be very rewarding to put the "for rent" sign up. Its really a strange feeling to think that a couple months worth of work in my spare time and some money invested will turn into 250 a month positive cash flow. I mean, I keep thinking about how hard I've worked my whole life, only to be broke most of it. I mean, I've had a few rare years where I made good money, but for the most part its been a tough road and a struggle. To think if I'd just pursue rentals I'd be up 250 a month every 2-3 months is kind of an inspiring thought. I mean in 3 years if I could do 4 of these a year, that would be 3000 a month positive cash flow rolling in. Thats a lot of money to play with when you consider your normal job pays all the bills and theres some left over from that. Like usually I have maybe 1000 left each month if nothing unexpected comes up. So this one little deal will be a 25% increase in expendable income. Pretty cool really.
Anyhow my goal is an extra 3k a month. I hope to achieve it in 3 years time. Wish me luck! The other encouraging part of this is that with each subsequent deal, it should become easier to get the next one. Saving up the down payment won't take as long.
posted by Joel Huenink at
4:14 AM
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