July in Review, Real Estate, Dividend Income, and Side Hustle
Atlanta Trip: Celebrating the 4th
Now that July is coming to an end, one major event that stood out in this month was celebrating the 4th with our family. In the past, the FEN’s family has been traveling to Atlanta to celebrate this holiday with my side of the family, and now has become our annual tradition. Another tradition is to eat as much as humanly as possible while being here. The supermarkets and restaurants are diverse and plentiful, with food deriving from different ethnic groups and nationalities, all one should worry about is the size of their stomach. There are even restaurants that offer fusion cuisines such as Korean tacos, strange, but somehow this combination works. Living in New Orleans, we get tired of deep fried food rather quickly. New Orleans much like other southern cities, would deep fried t-shirts if they are edible. The best part, all this traveling during a major holiday only cost us $22. Yes, round trip flights for two adults, $22. How this was accomplished? Two words, “Travel Hacking”. Parking near the airport cost us $65, so the entire trip cost was only $87, excluding food. God bless the good ol’ U.S. of A!
Real Estate: Mixing Business with Pleasure
This trip was entirely for R&R, but we like to mix business with pleasure. As mentioned in our other post, we have rental properties and they are located in Atlanta. I spent Sunday morning visiting each property to assure that they didn’t burn down and are reasonably kept. I also notified one of my tenants that we will not be re-signing the lease when it expired at the end of September. There are several reasons why we didn’t want to re-sign the lease with this tenant. First, the market value in the surrounded area appreciated over the last year and I want to divest this property to lower my investment risk in real estate. Secondly, this tenant standard of cleanliness is questionable at best. Thirdly, this tenant is consistently late on rent. Definitely not my best tenant. There are 3 options we are currently evaluating. Option A is to fix, clean, and re-rent. Option B is to completely sell the property as-is. Option C is to renovate then sell. We are leaning towards option B but we will find out later when we get quotes from the contractors how much the improvements would cost. Wish us luck!
Dividend Income: Dividend income is non-existent this month as the bulk of the payouts came in June. We did manage to squeezed out $28.91 in dividend payout. The next big payout will be in September.
The Side Hustle:
Over the years we have always looked for new and interesting ways to improve our overall income. After listening to several different entrepreneur podcasts we decided to take the plunge and test out a few ideas. It will be interesting to see how this side hustle will turn out. It could go down like the Titanic or be HUGGGGGHE like Donald Trump’s hair and we can retire sooner. Realistically, it will be somewhere in between…hopefully. Stay tuned for our progress updates.