Property Income Report June 2020

Welcome to my second Property Income Report, June 2020. If you’ve not read the first instalment yet and want to do it in chronological order, you can click through to the Property Income Report, May 2020 link.

Property Income Report June 2020

Monthly Summary

What a month it’s been. I’ve learned so many new things, met lots of interesting people. Things have really developed and progressed nicely!

When I look back to last month’s report, I actually can’t believe it’s only been a month with how much has changed.

On a global scale, restrictions around the pandemic have began to lessen. Although brand new announcements right at the end of the month bring additional lockdown measures being put in place in Leicester City, right around the corner from where I’m based! Fingers crossed that doesn’t impact my plan too much, but we’ll see.

A Review of Last Month’s Objectives

Objective

Build on the website.

Progress

(Success)

When I set this objective last month, the site looked very different to what it does now. I’ve invested a fair bit of time into building on this and improved a number of different factors. I’m much happier with the way things look now. Let me break that down further:

New Theme: For those of you who are familiar with WordPress, I have built this site on their platform. I started it off with a theme called “Total”, which as a starter theme had some really good functionality and made things look nice and clean. But… I’m afraid to say, it took a while for pages to load.

So after a bit of research, I decided to swap the theme for one called Astra, and after a bit of playing around with it I decided it was a keeper and invested in the Astra Pro theme. (Which essentially gave a whole load more of extra functionality). I have to say, I’m really impressed with it so far, it looks and feels clean – loads really quickly and has lots of options for customisation.

New Posts: Throughout the month and as I’ve been researching different things I’ve began to build my catalogue of posts. When I publish this one, I’ll have a total of 15 posts live on the website.

Continued Learning & Optimisation: Building a website from the ground up has been a bit of a learning curve let me tell you. But through researching different things as I’ve gone along I’ve learned so many different things I wouldn’t have otherwise known. Things like: SEO, Page Speed, Image Editing/Optimisation, Site Structure, Site Maps, Google Analytics and a whole host of other stuff!

It turns out that building a website is much like building a house. Make sure you do it on a solid foundation!

Objective

Get active on Twitter.

Progress

(Success)

I can’t begin to tell you how great Twitter has been for my online journey so far. I’ve met so many interesting people. Found lots of useful resources and continue to build a presence and place for myself in the online world of property. Honestly, it’s great. If you’ve got a business of any kind, property or not – get yourself on Twitter and make sure you use it. You won’t regret it.

Objective

Get the en-suite done in the house.

Progress

(Not Started)

This one, I’m afraid to say – I haven’t even touched. Instead of doing the en-suite, I decided instead to get the downstairs completely finished & ready. That objective has been met, as well as different bits of painting upstairs.

Funnily enough, I’ve booked myself a week off work next week. My plan for that week? Get the en-suite done!

After that, there’s not a great deal of work left to do, basically some painting and carpets across the upstairs.

After that, I should be in a good position to put it on the market.

Watch this space.

Objective

Start my studying for the Propertymark Level 3 Award in Residential Sales.

Progress

(Success)

I made a start to studying for the Propertymark Level 3. I’ll admit, I didn’t go excessively far with it. It’s largely aimed at Estate Agents, something I thought at the time would be a good idea to pursue starting my own estate agency alongside property development. I have since decided to park this idea for now, I simply haven’t got the time between a full-time job, renovation, managing this site and well, the rest of life. I do think there is still value in this though, I’ll probably pick it back up once I’m in a position to leave the full time job.

Key Activities

Now that’s last month’s objectives out of the way, it’s time for some of the key activities that I’ve been up to this month.

  • Firstly, I’ve been busy building and optimising the site, as well as my online presence on Twitter & PropertyTribes – both great resources to connect with others who are interested in all things property.
  • Work has continued on the house, I’m really pleased with the progress I’ve made here. Dare I say it, I think I should be in a position to be on the market in August.
  • I’ve began my in-depth research into different property investment strategies. I’ll continue this into next month and beyond as I finalise the approach I’ll take with my soon to be set up limited company (just need to finish and sell the house first!)

The Property Income Report

Income = Another month of zero. This is completely expected though because as it stands right now, I haven’t got any way of generating any revenue. The likelihood is that this will continue this way until I’ve actually set up my limited company. Right now, my only potential of generating any revenue lies with this website. So, to start the ball rolling – I’ve signed up as an affiliate with the site’s theme provider – Astra. (Yes, this is an affiliate link, if you buy through this link, it means I get a small commission in return!)

Expenditure = Not a lot, but again there has been a few. Not property related, I’m in a similar situation here as it is with income. I won’t be able to report on this until I’ve set up the limited company. For now, my main expenses have been website related.

As I mentioned earlier, I opted to go for the Astra Pro licence on my website theme, as well as paying for increased server performance with the hosting company to make sure the user experience was good for site visitors.

The Financial Figures

The Online Stats

I thought it might also be useful to share how well the site has done this month, when I looked online I struggled to find any real sort of ways to compare against similar website. So, in true Property Plunge spirit, I thought I’d share my own for others to see and use. I’ll continue to make this a feature each month and hopefully watch these figures grow over time! An encouraging start!

Twitter Followers:140
Website Users:138
Number of Sessions:220
Total Page’s Viewed:567
Subscribers:2

Upcoming Plans

That brings us to a close for June’s report. So, much like last month… What are my upcoming goals and objectives for the month ahead?

  • Completely finish renovation on the house.

This is a bit of a stretch goal, but I’ve got a week off work next week so feeling fairly confident I should be able to get it nailed. After doing all of this research into different investment strategies I’m eager to get the ball rolling. So what’s left on the to-do list? En-Suite bathroom, rip out entire thing and replace with new, including tiling and flooring. Carpets to go down across the whole of the upstairs and 4 bedrooms to decorate. Finally, stage the rest of the house and give the outside patio a bit of a jet wash. Should be achievable.

  • Explore options of generating a small amount of revenue on this website.

I’m not sure exactly where to start on this, but I’ve heard good things about Google AdSense and Affiliate links (of which I’ve just done my first above!). It would be nice if I can eventually set this blog up in a way that allows me to earn an income from it too. It will help with that all important goal of early retirement! I just need to be careful doing this, I absolutely do not want to sell myself out or make the site un-usable with ads. Look, feel and authenticity are very important to me.

  • Continue to expand my networks on Twitter and across the web.

I’ve met so many interesting people in just one month already, I think there is so much value in it. I would like to continue to do this!

  • Continue to develop the website.

Now I’ve started getting used to doing this site, I’ve really enjoyed the process. It’s kept me up at night (in a good way!) thinking about different ways I can do different things. I’d like to continue on this path and keep sharing all the useful content I come across. Property is my passion & this gives me a platform to be able to talk about that passion.

That’s All Folks!

As always, thanks for taking the time to read. And if you have any questions or comments feel free to get in touch using the options below!

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