Rental property #2
I haven’t posted in a while but I have been active. The house is pretty much ready to rent out. I already have some tenants that want to move in mid December. This weekend I will be writing up the lease and getting together their welcome sheet. I got this idea of writing all the “need to knows” in 1 page that I can give to the tenants after they move in. I already typed up the first draft, and it contains the utility companies and the phone numbers, the mailbox number, my phone number and address, and I would add the internet provider but I do not remember which ones they were. I should probably call around to find out what providers I have and list those down as well. I think from now on I will be doing that to all of my rentals.
Personal finances
Crypto also has been soaring since the elections, so I sold all my cardano (at the very top of $1.15 a share before the pullback to $0.98) and used the profits to pay off the remaining $1000 dollars that I owed my stepdad for his half of the 3rd rental property. So I officially own 100 percent of that property now. I also paid off the balance on most of my credit cards, bringing me back down to a comfortable level.
Other issues I had
While in the middle of my project to fix up rental property #2, I received a call about rental property 1 that the water heater was acting up because the water was too hot.
Shortly after, the water heater stopped producing hot water.
- I went over one day to change the thermostat. It worked for a few days, and then it broke again. I did not have the right tools to change heating element:
- Went over on Wednesday after ordering the right parts on Amazon, and swapped out all the heating elements and thermostats.
- As of today, the water heater is working just fine.
What next
Now that the house is almost done, I need to close on these tenants that I found. I’d say I already rented the house, but I don’t like counting my chickens before they hatch.
A few things I want to focus on now
- Finishing my other exam for funeral license
- Starting a new Etsy store. I’m regretting closing my old one at the end of last year.
- Work on this other side gig idea that I have. I need to do more research on it to see how profitable it could be.
- Focus on the Amazon influencer program to see if I can increase revenue. I’d like to get to the 1000 dollar a month mark.