It is time again to review property performance for 2018

Arizona

• net income goes from 7.9% for 2017 to 6.7% for 2018 amid rising repair costs
• change of tenant led to a very large increase in rent
• limited appreciation due to the triplex being limited by CCR to above 50 dwellers

Florida

• net income goes from 7.2% to 5.9% amid property tax increase and many repairs
• vacancies are very low and tenant turn time very short
• strong appreciation and rent increase

Georgia

• net income inches up from 1.8% to 3.4%
• vacancy and turn duration was again unacceptably this year
• appreciation was limited

Indiana

the partnership is cashing out on the appreciation of few houses. Distributions of 72% of the amount initially invested.

image credit By Jonathunder - Own work, GFDL 1.2.

Missouri

• net income is negative around -1% to -2% without counting financing cost
• vacancy and high repair costs have been plaguing performance in Kansas City
• appreciation was non-existent
• one of the houses in a better area was supposed to be put in service in 2018, the renovation suffered such delays that it is not yet completed more than 1Y after purchase

North Carolina

• net income rose from 5.4% (previous number low due to acquisition during the year) to 7.6%
• vacancy time is relatively low, we did not see a tenant turn yet
• appreciation is very strong

Texas

• net income collapsed from 7.7% to 0.3% due to a tenant turn that was very expensive and lasted too long
• tenant turn took three month due to a contractor issue
• prices are stabilizing, the local tax at 3% of market value is so high that an efficient landlord is needed to eke a profit.