September saw the first month where I collected rent from my basement and my condo unit. This adds up to a healthy $2550 / month in earnings. The tenant for my condo did not want to take the parking lot, so I will be leasing that out for an additional $100 / month when possible.
At this point, my passive income is starting to increase rather rapidly. My strategy with the rental income will be to use it to cover and help accelerate my mortgage payments. I will then utilize the HELOC to withdraw these funds and invest again to help build up my passive income. Effectively, this should keep my debt relatively flat while increasing my dividend income. Overtime, compounding will start to widen the gap between debt and assets, growing my networth.
Additionally, I do plan on making minor payments here and there to my HELOC as I utilize it, helping to create a bit of buffer space for eventual market downturns. My investment strategy for the next while will be “steady as she goes”. All in all, I have a rough road map for the next 3-5 years with my income allocation.
| Income Source | Amount |
| Dividends | $761.34 |
| Cryptocurrency | $279.97 |
| Rental | $2550 |
Note: There will be some slight variance due to differing exchange rates from the time different reports are written.
