As I mentioned in my previous blog, we have renters moving in this weekend. That will help the cash flow quite a bit. I also mentioend way back in April on this blog that we need a new roof.
A couple of things have happened since then. First, the estimate for the roof was about $1,500 more than we expected, and our other renters moved out. The money we had saved for the roof had to cover the shortfall created by the lack of rent plus the return of the security deposit.
If we start saving our rental income, I figure that we might have enough money saved up by October for the roof.
After we have the money saved up, I'd also like to establish a $1,000 EF, plus we have to keep $800 in reserve for the renters if and when they need their security deposit back.
On the bright side, we have been cash flowing each month since last October.
Savings for a roof
July 15th, 2011 at 07:41 pm
July 15th, 2011 at 08:11 pm 1310757111
July 15th, 2011 at 09:04 pm 1310760278
Jerry