We are now entering November and it is time for me to post my first income report.
I thought about this hard and long on what I should post here. Yes I work for a business, but I also have my own business / income streams which is what my Big Investor is focused on. So for this reason, I will not include the income I receive for employment, only all additional income streams.
October was my first month that I started using AirBNB to replace my rental income that I received from long term tenancy using my apartment. My apartment was listed on AirBNB for the first time on 18 Oct and my first booking started on 19 Oct.
The first month has been a real learning curve, as I’ve had to get all of my processes in place as well as some additional expenses coming.
To make it simple to work out my profit/loss I will calculate expenses on a cash date bases, and I will calculate income based on the booking daily average for the days booked during the period.
Property Services Business
I haven’t mentioned much about my property services business, but it is quite streamlined. I focus on a high quality service and make it easy for services to be provided to Management level customers. My customers are looking to get their service requirements fulfilled reliably, efficiently and require detailed reporting. I provide this all to them in an industry that is quite behind the times.
Total Profit/Loss for October