It’s been awhile since my last update. I’ve been busy traveling, recouporating, landlording, working, and traveling. I just want go get some Vitamin-Sea before the summer is over. 😛 Mr. W is running a half marathon. I’m having some free time to blogs. Latel, I’ve been getting into editing our travel videos. I also take up some MV for my sister, and I’ll probably do na MV for my rapper tenant. Video editing can also take up hours of my free time. Hihi
On the landlording side – I have 1 rooms left to rent. That guy finally moved out, so I was able to show it to a student and had it rented.
Okay, back to passive income report.
Dividends from 7 companies: $35.57
Income from Rental Properties
I consider these properties as *passive as I don’t manage the one in the midwest, and the commercial property doesn’t require much involvement from me. I do have to do some fixing here and there for the residential half of it. I’ll talk more about this later.
Income from Midwest Rental the $77K investment (This is after insurance, maintenance, and taxes): $700
Income from Commercial Rental: $2000
Income from 2 units I have a total of 6 rooms, 4 rooms was rented : total $2200
August total: $4900
So far in 2017 total: $26641
If I leave my investments alone and included my take home income from last year, my portfolio would worth $450K, I would have generate $18,000 with 4% yield. But my yield was around 2% so it would have only be $9,000. So, by shifting my investment, so far this year income is beating last year dividend income.
This month income of $4935.57 is noticeably higher than the $60.95 in dividends I received in August 2016. That’s a 81X increase over YOY. That, right there, is great progress, and I hope I can keep up similar levels of success as I go! (Notice, upto this point last year, I had liquidate a lot of my funds, so that was why the dividend income was so low, but that’s the way it goes)
I was able to cover just over 260% of my basic expenses (check out how I kept my lifestyle from inflating) this past month through the power of compounding interest/dividend/passive income. It’s really great to know that I was able to cover a 260% of my basic monthly expenditures by way of complete passive income. The progress of dividend growth investing is real and tangible. The market can decide to mark up or mark down the value of a company day by day, but the dividends and rental income will still roll into my brokerage account just like usual. Passive income are reliable just like my expenses, and that’s one of the reasons I plan to use this strategy as my income generator through early retirement. I either use dividend income to continue to reinvest to offset old age expenses or if one day I’m tired of managing property, dividend income will serve as my main source of income. It’s funny when my income is now come from 6 businesses rather than just relying on one company (my job). My job which there is always a risk of getting fired or layoff at anytime, but with pay checks coming from 6 different sources, even if I don’t receive pay from 1 or 2, I’m still largely unaffected. That’s the beauty of dividend investing strategy.
My goal is to have the last room rented so my income can surpass $5,000/month. That’s a living wage with money to spend on domestic travels or one international trip per year.
My goal for this year is to have a forwarding income of greater than $50,000. With the income of $5,000/mo, that translates to $60,000/year in gross income. That, my friend, has surpassed my passive income goal for 2017. I am ecstatic!! I am so grateful to get this far. I couldn’t have done it without the support from my family, friends, Mr.W, my tenants and my readers on this blog.
**Note: This expense list is a little outdated, as I’m now married to Mr.W. His expenses is higher than mine. However, taking into the consideration of we share the same house expenses like: Housing, Cable, utilities are the same. Only added, his travel, medical, eating out, clothing, and entertainment expenses. I might update this Expenses post in the future posts.
With half of the year behind us, I’m now seven full months into one of my goals to generate $50K in passive income during the year. The year is 50% over and I am 35% on my way to completing my primary goal. I’m a little behind. I need to step up to get my other empty unit rented. I might have to revise my goal, however, for now, I’m just enjoying crushing 5-figure income (YTD for the first time).
I’ll update my dividend income page to reflect June passive income.
How are your dividend/passive income tallies progressing? Everything progressing the way you had planned?