As you all know, each month I post an update on what has been going on in my passive income businesses. Since I am currently in Japan on a six-week family vacation, this month’s update will be short and sweet.
On March 8th, I flew my family from Los Angeles to Narita Japan for a six-week vacation. I’ve been asked, “Why so long? Six weeks is a long time.” My answer is easy. “Because I can!”
Not having a job allows one to have the freedom to do whatever you want. I no longer need to ask for time off from my boss for vacations. All I need is my laptop and an internet connection and I am able to monitor, grow, and even expand my business. Gone are the days of being locked down in a cubical sucking the life out of me.
Six Week Vacation in Japan!
Currently, as I write this update, I am in Nigata Japan. This is our 31st day in the country and have 14 more days!
Our trip started in Tokyo where we stayed there for two weeks.
From there, I rented a car for one month to drive all over the country. Starting in Tokyo, we went all the way down to Hiroshima which is 500 miles away and are now almost back to Tokyo on the tail end of our two week road trip.
A little tip: If you have never eaten Kobe Beef, I suggest doing it in Kobe Japan! It is fantastically amazing!
In all, we will have driven over 1200 miles around Japan! Here is a quick map of our travels.
Real Estate Rental Business
Well, March was a super exciting month for my rental property business. As stated last month, I made five of my less successful properties profitable through a rent-to-own program. Because of this program, my tenants have the potential to own their own home and I get a no-hassle property that cash-flows well.
To be more specific, these five properties would make around $800 total in profit. From evictions, repairs, taxes, insurance, property manager expenses, etc. I would only profit $800 a month.
Each month, because the rent to own property is maintained by the tenant, I have no expenses. All the money I receive is straight profit. I no longer pay for maintenance, property manager fees, repairs, etc.
In the month of march, I made $2500 profit from these five properties! This is a fantastic change in the profitability of these properties. The only downside is that I will no longer have the properties after 10 years.
I will buy more properties with this huge profit and make even more money and help even more people become homeowners.
Sale of My California Home
With the sale of my personal residence, I was able to pocket almost $100,000!
I purchased the home in 2010 for $210,000. Since then I improved the property by remodeling the entire home myself. The cost of all the remodeling was $40,000 over seven years. So, with the sale of the home at $321,000, I pocketed over $70,000 in profit!
Next on the business plan is to be on the lookout for 4-5 more rental properties. These properties will most likely be in the Akron area where I am already investing. If I am able to rent these properties for $700 each, hopefully this will bring in another $3,500 a month in income.
Book Writing Business
My most recent book is now complete. The content is all finished and now I am having my editors, designers, and programmers working on getting it on bookshelves.
I reached out to all of you on the email newsletter asking for title help with the new book and receive a tremendous amount of help. So, thank you all for your support and advice.
The title of the book will be:
The 16 Real-Life Lessons You MUST Learn Before You Quit Your Job and Escape the Rat Race
The planned launch date is May 1st.
Be on the lookout for an email from me on how you can get your copy for free. If you are not on the email list but would like to be, sign up now in the box below.
Sign up for the FREE Passive Income Investing Course!
So, that is the quick sum-up of the things going on in my world. Amazing how much fun you can have not having a job!
How is your progress going with your passive income? Let me know. Leave a comment below.