Passive Income Dude (YR 3): Passive Income Report: July 2017 (Another Record!)

It is time again for my Monthly Progress Review, and I’m excited because I finally had some massive passive income…thanks to rental properties!

In each progress review I will list a summary of all dividends I received, the rental income I received, and any purchases I made from that particular month.

This monthly report covers July 2017. I hope you enjoy these posts and that we can learn how to grow our passive income streams and build real long-term wealth together!

General Thoughts on This Month: July was another record month, thanks to rental income of $859. I saw total growth YoY of 58%; my second month in a row of over 50% YoY growth. Wow. As some of you who follow my site know, I had hoped (and predicted!) that the second half of this year was going to see some massive progress, and thus far it is thankfully coming true. Meeting my goal of $13K in passive income is still going to be a stretch, but the fight is on! Very blessed and excited!

Read More to see how I earned $928.34 this month in passive income!

Dividends Received
Dividends were almost nothing this month, with only two payers, both of which really are not significant positions in my portfolio. Still, it’s great to receive these two checks without having done anything but provide the initial capital:

*All dividends are always reinvested.

I am happy to report that I now have four active rental properties, my Missouri Rental my Colorado Rental, and my two North Carolina rentals: North Carolina 1 and North Carolina 2. (I know I still need to write about the closing details of NC #2). Listed below is the cash flow that each of these properties provided this month:

Wow. What an awesome month. My NC #2 provided $825 in cash flow! This was entirely because we had a tenant in place from Day 1 of the closing, and our mortgage payment wasn’t due until the start of the next month (in AUG)…so we essentially had pure profit on that 1st month’s rent! Nice!

My other NC property, NC #1, had some major cleaning and set up expenses – as we just put a tenant in there and started with property management…set-up fees, etc. Some of this cost was a miscommunication between my property manager and me as to how detailed I wanted the initial house cleaning to be (…Frustrating! And this won’t happen again); but in the end I experienced a negative cash flow on this property of $302 to pay for all of the items mentioned above. Ugh! It hurts me to think what my income would have been had I received the positive $370 in cash flow I should have received.

In summary, with dividends and rental cash flow combined, Total Passive Income Received: $928.34

Purchases

This month I made several small routine purchases contributing slightly under $500 to my Roth IRA (still pursuing goal number 6!), distributed across my 5 mutual funds, listed below:

VWELX: Vanguard Wellington

VTIVX: Vanguard Target Retirement 2045

VGSTX: Vanguard Star

VFIAX: Vanguard 500 Index

VEMAX: Vanguard Emerging Markets Index

I’m actually in a lot of debt currently (AGAIN!), thanks to NC #2 purchase, so any new purchases in stocks and mutual funds are going to be slow for awhile…yes I know I need to write about this new debt on the blog, but the bottom line is NC#2 down-payment cost me around $15,000…which I had to borrow 100% of, so, yep…lot of debt again. :/

Thoughts on This Month

This was a great month for Passive Income. Compared to last year’s July total in 2016 of $587, my YoY growth for this month was 58.1%.

With the addition of this month’s income to my Progress Tab I now have earned $4,713 in total this year in passive income. A lot….but also not a lot., compared to where I need to be.

When compared to my goal, yikes! I am now over $2,870 behind the pace I need to be at in order to meet my primary Passive Income Goal. See a detailed graph of the progress and gap, here.

But, believe it or not, I still believe I WILL catch up, and will meet my goal. These last 5 months of reports from August to December will be very interesting. I anticipate huge months in SEP and DEC, where I can make up some ground. We’ll see what happens!

Thanks for reading, and I always appreciate any comments,

Passive Income Dude