July was a pretty wild month for my crypto earnings. This month I aggressively reinvested my crypto to generate yield and made a few trades on the volatility. The latter means that not all gains were purely passive (not sure if the aggressive reinvestment classifies as passive either, as there was a lot of monitoring and finding new opportunities). I expect this to normalize moving forward as I’d like to take a more relaxed approach with crypto.
That said, I do expect another sizeable boost to my crypto income in coming months as a few projects start to come online. I’m excited to see how that rolls out and what kind of material impact will have on my overall passive income growth moving once everything is up and running. I have some rough ideas on future allocations from that revenue stream, but nothing set in stone yet.
Here’s my income by source for the month:
| Income Source | Amount |
| Dividends | $641.07 |
| Cryptocurrency | $1171.87 |
| Blog | $1.60 |
Unfortunately, my condo still isn’t rented yet, so things might cooldown for the next month or so with my investments and growth until that gets going (my personal income will be paying the mortgage until it’s rented). Another project I’m working on is getting the basement fixed up and ready for rental this autumn. The cashflow from the basement project is largely unexpected, so I’ll apply it to my mortgage for my condo to help amortize it via prepayments and improve future free cash flow. Doing this also has the benefit of opening up my home equity line of credit quicker. This will allow for greater flexibility.
The other alternative is to apply the extra cashflow to investing. In the long run, given my mortgage is so low, it would typically make more sense to apply the cash to investing. My mortgage is tax deductible. My current investments can just about cover my mortgage payments, in fact, they should be able to by the end of the year.
My recent loan can be transferred to my personal LOC (that’s why I have the space there!) Both my personal LOC and HELOC have the option for interest-only payments. As long as I’m comfortable with debt, I have an opportunity to significantly build up my investment portfolio.
Another alternative is that I steer that money towards renovating the condo unit (granite countertops, hardwood floors and nicer outdoor patio stones on the balcony). This would help raise the equity value of my condo, helping to raise the condo value and the rent it can command.
I would also like to greatly increase my dividend income from solid blue-chip companies. Unfortunately, due to so many projects currently on my plate, I won’t be able to invest as much as I’d like for the next couple months into dividend stocks. I do plan on taking a portion of my future crypto earnings (once that project has fully rolled out) and using some of that income to increase my dividend income.
For some numbers, I expect to gross around $1450 / month ($17400 / year) from renting my condo unit. Renting the basement, I expect somewhere between $750-$1100 / month ($9000-$13200 / year). Using the low-end estimate, my passive income jumps up rapidly, adding an additional $26400 in gross income. As a note, I’ve decided I will actually report gross rental income as opposed to net, since tax deductions and similar will affect the final number.
I am also still watching the real estate market and arranging to get funds prepared for another purchase should I find anything that fits my criteria. Notably, I would like my next property to not be a condo. I’m looking for a bungalow, duplex, semi-detached, or detached. I would be open to a townhouse as well, but my criteria for townhomes is even more strict.
Just for fun, I also whipped up something in my workbook I use to keep track of my investments. A friend inspired this.
Pretty cool right!? If that doesn’t work as motivation, I don’t know what will.
Note: There will be some slight variance due to differing exchange rates from the time different reports are written.
