Advantages of Having Rental Properties

Wednesday, January 18, 2012

Advantages of Having Rental Properties

I'm currently paying 2 houses, 3 condominium units and 2 car park places. My monthly amortizations are quite heavy. This coming 2014, my 3 condo units and 2 car park places will be fully paid.

I was not able to pass by my broker to get my rental checks for 3 months already. I went today and got the three batches of rental checks. When I added it, it amounted to almost 50 thousand pesos that is ready for clearing. It's a good thing I have extra money to pay for my monthly amortization for the other house.

Picked up the kids around 4pm and we went to Jollibee for snacks.

I have a meeting with JR around 7pm. I'll pick him up at the old studio and will bring him to the new one. After that I'll treat him to dinner.

No comments:

Post a Comment

About ME

Started this diary in 2012. Forgot about it.
Started writing today, May 21, 2020 at the time of COVID pandemic.

Single dad with 2 middle school kids.
This is my diary.

Building my passive income one day at a time.

I currently earn $1,450 monthly for my blogging.(as of April 2012)

I currently earn $3,870 monthly for my passive income (as of May 2020)

Breakdown (monthly average) :
1. Tickling 3,500
2. Clips - 150
3. Patreon - 220
4. Google Adsense is gone. I'm building it up again this year.

HOME GOALS 2020

1. Unfortunately, I lost my house due to low income last year. From a home owner, I became a renter.

2. I am renting now at 30K a month. My kids will be done in High School in 4 years.

3. I will transfer to Bonifacio Global City after 5 years. I will still rent a place worth 30k

4. I plan to just rent and make a force savings of 50K a month. This will serve as my retirement fund.

5. I do not have plans of buying a house anymore. My goal is to force save and reserve cash instead.

6. I like my current house right now, it is a two bedroom condominium. It is 85 square meters. It is big and it is enough for the 3 of us.

7. My goal in two years is to save the entire tuition fees of their high school. Thats about. 1.1 million. I have save 100K as of today.

8. I will put 42,000 pesos a month for two years to achieve this.

9. Anything excess, this will go to their college fund. That is about 2 million for the 4 years. As a single parent, it is better that they have cash in case I die.

10. 2020 is the year of the COVID pandemic. It will take 2 years for this pandemic to end.

11. Future plans. A. Build my Whey Store again by making exercise videos.

12. B. Build my existing Lazada store by looking at items at divisoria and think what I can sell online.

Wednesday, January 18, 2012