April update

April update

Contents:
1 - Passive income stats totals to date
2- House sale
3-Recession back up plan
4- Future


1-Passive income stats totals to date
Here's the interesting post , lets get straight to the figures.
1- Total passive income for the month = £328.64 . My monthly target is £382 for this year. Im currently averaging £458.99
2- This months stock contributions = £768.43
3- *NEW RECORD*  Dividend income this month = £46.73
4- Current Stock portfolio value £4319. This is the highest its ever been and and the account is nicely in the green.Ive added a couple more stocks to the portfolio.
5 - Average annual dividend yield is 6.51%





2- House sale
Good news is that my tenants moved out at the end of March, though i was a bit cheesed off in the way they left it. They took every thing and anything that was not bolted down. They took all the curtains and rails; they even took nearly all the light bulbs.These are the hazards of renting. What did i learn - I rented this house many years ago and took no deposit. You must ALWAYS take a deposit.This month did effect my income as I still have a mortgage on the property but no tenants. I was lucky in that I had remortgaged another property and no mortgage was taken for that one this month, so it balanced out with me not having rent.

                         The new buyers I have been told that they signed yesterday. Tomorrow (1st May ) is the exchange date , so I'll be keeping an eye on the bank account tomorrow. I have started to look at other properties but only on the internet, nothing serious just yet as i don't want to count my chickens until they have hatched.
Im looking to buy two properties. This should increase my passive income by a further (roughly) £500 month , taking me to around 800-900 a month.


3-Recession Back Up Plan
Predicting anything into the future is just an educated guess. But i do feel we are on the road now to a boom. Everything is just moving so fast. My plan is to just keep buying, reinvesting and adding.
The rentals should all be ok, to rental to mortgage costs are 60% or more in my favour. Plus all mortgages are fixed for at least 5 years so i can weather any interest rises (which i am expecting). Some properties are fully paid for so i have no worries on those. As regards stocks it like that little fish on Nemo " just keep adding, just keep adding" on dividend paying stocks.

4- Future
As part of passive income the main thing to think about is MSI (multiple sources of income), that's the key. To add to what i do i'm thinking of opening up this blog to the public and maybe get a small revenue from ads and maybe start a very small youtube video. I'm not sure yet and i'm not sure if there will be that much interest. I'll probably start by opening up this blog first and gauge the interest.