Hi guys,

In terms of finances, April has been a great month so far, as opposed to March, which was a really bad month. Here’s an heads up:

  1. The tenants in Rental Property #1 stop complaining about the issues with the home and everything looks pretty much under cruise control now.
  2. I realized that the free apartment in my building will be rented out very easily. I haven’t explained that deal yet, so let me go ahead and clear this up. I bought a 3-story building, which is in fact a small building. Each story is an apartment and can be rented out individually. Two of them are already rented out for 315€ total, and I hope to get 200-300€ for the other flat, which is in fact the best one. I may extract 550€ a month, which is great that I payed about 40K for the building.
  3. I found a bunch of great deals in a different city, returning somewhere between 12 and 21% net a year! I am still in talks with the owners, but I will definitely buy at least one or two properties, as they are extremely cheap (with moderate rents still). It kinda seemed that they were there waiting for me. 🙂
  4. I haven’t spend more than what I planed to spend for the month (one week to go, I know), so the numbers will very likely add up in the end.
  5. P2P is on fire and I am making 10% on my money.
  6. I just closed a deal on my current flat in Germany (whose leasing contract I am canceling as I will be traveling for 3 months and can save a ton of euros), and I will be payed more than 1K for my furniture, which is indeed more than I expected. The cool thing is that I can still negotiate with more people and choose those who pay me the most.

Not so good news:

  1. The mortgage I’ve asked on the building is yet to be granted. Apparently, this took a whole lot more as my income is from Germany and I applied for the mortgage in Portugal (I can’t apply for a mortgage in Germany for a property in Portugal). I do expect to have news till the end of the month. If I don’t, I will borrow some money from friends and family and hopefully it will work out. The mortgage is perfect because I was able to negotiate something at 4% for 15 years and the current rents would be enough to cover the mortgage and put about 2K in my pocket every year.
  2. I found too many good deals, and I won’t have capital to all of them (neither I will be able to for so many mortgages). Plus, in this new market I’ve found, cap rates are way higher, which makes me regret having bought RP1, because I could easily have 2/2.5x more return on my money. I will write a post about this eventually.

Now, regarding my health. It is no surprise that I suffer from CFS. These last two weeks were by far the worst of the year (and I don’t see good news coming up soon). In short, I had some abdominal pain for a while now, and I paid the doc a visit. Turns out I had a bacterial infection (H. Pilory) and he said this could most likely be the cause of my pain, so he gave me antibiotics. With CFS, you fell toxic all the time, so I reject putting any drug into my system, unless it is really necessary. The way the doc said it, it kinda seemed to be absolutely necessary and I took it. Not only it didn’t solve the problem (matter of fact the pain is getting stronger) as it also left me more tired than ever. I need to visit the doctor again and stop taking drugs unless I die if I don’t take them.

So this is the reason why I haven’t been as active this month, but I have a bunch of new interesting projects and I will return to a higher pace soon! Stay tuned and all the best.