- $96,000 purchasing and rehabbing 2 rental properties.
- $ 4,000 operating costs
+$ 4,500 rent - 1/2 year 1 property
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-$ 95,500 cash flow from side gig.
+$ 160,000 value of two rental properties
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+$ 64,500 net worth
This year, should be $9,600 rental profit on those 2 properties!
Plus, as a side benefit of searching for properties and good buys for the last two years, we got an instant $97,000 increase to our net worth based on the purchase price of our new home - the price we paid for it. We would never have gotten such a good price if we hadn't been doing the side gig of our rental property business, would not have had a clue of how to do that!
+$ 97,000
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+$161,500