Updated 05.11.2020
This is the first rental property in my real estate portfolio. It has 2 apartments, one is currently vacant while it’s being renovated.
Purchase
Property price: 139 470€
Down payment: 13 422€
Registration of property: 554€
Mortgage ownership transfer fee: 671€
Banking fees: 1 068€
Lawyer: 2 097€
Building expert: 268€
Total cash used to buy this property: 18 080€
Debt
Mortgage: 104 045€
Monthly cash flow
Rental income: 1 532€
Mortgage payment: 467€
Property tax: 32€
Property management fee: 23€
Estimated expenses (20% of rental income): 306€
Result (when fully rented out): 704€
Investment value
Maintenance account 2020
Budget: 306€ per month: 3 672€
Unspent budget from 2019: 2 107€
Total budget for 2020: 5 779€
Expenditure:
02.01.2020: Electricity for vacancy period in March 2019: 56€
03.09.2020: Takedown and remounting of the kitchen: 703€
07.09.2020: Mold remediation: 763€
02.10.2020: Investigation of sewer: 287€
Current expenses for 2020: 1809€
Maintenance account 2019
Budget: 303€ per month: 3 636€
Unspent budget from 2018: 1 738€
Total budget for 2019: 5 374€
Expenditure:
11.01.2019: Accountant services: 2 030€
25.02.2019: New bathroom mirror + new doormat: 47€
29.03.2019: New bathroom mirror for the second bathroom: 34€
14.03.2019: Heating in March (between tenants): 190€
01.04.2019: Heating in April (between tenants): 190€
02.06.2019: New outdoor lamps (light sensitive): 595€
30.12.2019: Sewer flushing: 181€
Total expenses for 2019: 3 267€
Upgrades:
06.05.2019: Kitchen upgrade: 9 913€
06.05.2019: Various upgrades: 1 540€
Total upgrades: 11 453€
Maintenance account 2018
Budget: 303€ per month, starting from 01.02.2018 = 3 333€
Expenditure:
05.03.2018: New bracket for a kitchen door: 16€
05.04.2018: Collection of household waste (6 months): 141€
25.04.2018: Lawn mower: 255€
07.05.2018: Petrol for the lawn mower: 7€
21.06.2018: New oven: 335€
28.06.2018: Property taxes: 194€
28.07.2018: Gardening tools (rake, spade and gloves): 45€
08.08.2018: New dish washer: 577€
17.09.2018: Garden sprayer + weed control: 22€
01.10.2018: Weed control: 3€
Total expenses for 2018: 1 595€