Monthly Portfolio Report: February 2025
One of my goals with Rental Income Advisors is to be as transparent and data-driven as possible with my readers and my coaching clients. I think the best way to build confidence in a new investor is to actually show the numbers, to prove that rental property investing really does work as advertised.
For those reasons, I publish a monthly report on my portfolio’s performance. I hope that this chronological history paints a clear picture of what it’s like to be a remote landlord. It’s also a great exercise for me to be sure I’m staying plugged in to all my numbers.
Here is the update for February 2025. You can also check out all my previous monthly reports and annual reports.
Property Overview
The new tenant at Property #5 moved in this month, and that new tenant is now paying $1,450/mo., more than $200/mo. more than the previous tenant. This reduces my current vacancies to one at Property #18, where I’m still waiting for a new tenant to be placed. So that’s all good news.
But the bad news is that other vanancies are on the horizon: at Property #24, the tenant is being evicted due to a safety violation, and at Property #13, the tenant is leaving after only 1 year because they are relocating out of state. So there will be more vacancies, and more turn costs, in the coming months.
Rental Income
All rent was fully collected this month with the exception of the tenant at Property #11, who is now delinquent on both January and February rent and has entered the eviction process. This tenant has occupied the property since I bought it in 2019, and has gotten behind like this a few times before. They have always managed to get current — so we’ll see if that’s the case again here.
Expenses
This screenshot comes from RentalHero, the online accounting tool I use for my portfolio.
Here’s an explanation of my expenses this month:
Maintenance & Repairs: Not much happened this month, with the exception of the rent-ready costs at Property #18, which totaled over $6K. This cost was especially disappointing because I had just turned the same unit last year.
Property Management: These costs were somewhat higher this month due to a $725 leasing fee at Property #5.
Property Taxes: Twice a year, I have to directly pay property taxes on the handful of properties I own outright without a mortgage.
Utilities: This reflects the utilities charges during my vacancies.
Tenant Chargeback: I was reimbursed for a small tenant chargebacks that occurred in late 2024 — thus the “negative expense” of $20.
The Bottom Line
My financial model currently projects my Memphis portfolio to generate $9,535 of positive cash flow in an average month. This month, my cash flow was $2,546, nearly $7K short of my target. The rent-ready costs and the property taxes are what sank me this month.
Finally, here is my monthly cash flow graph. The dotted blue line indicates my projected average monthly cash flow for my portfolio in each given month. I’m now $5K in the red for 2025, with more challenges on the horizon:
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About the Author
Hi, I’m Eric! I used cash-flowing rental properties to leave my corporate career at age 39. I started Rental Income Advisors in 2020 to help other people achieve their own goals through real estate investing.
My blog focuses on learning & education for new investors, and I make numerous tools & resources available for free, including my industry-leading Rental Property Analyzer.
I also now serve as a coach to dozens of private clients starting their own journeys investing in rental properties, and have helped my clients buy millions of dollars (and counting) in real estate. To chat with me about coaching, schedule a free initial consultation.
