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Catskills - Sullivan County - Ulster County Real Estate -- Catskill Farms Journal

Old School Real estate blog in the Catskills. Journeys, trial, tribulations, observations and projects of Catskill Farms Founder Chuck Petersheim. Since 2002, Catskill Farms has designed, built, and sold over 250 homes in the Hills, investing over $100m and introducing thousands to the areas we serve. Farms, Barns, Moderns, Cottages and Minis - a design portfolio which has something for everyone.

March 5, 2024

Expenses

The Story of Business is the story of expenses. A story of Cash Flow. And eventually, a story of Profits.

And you are going to have weeks like this when you are building 14 homes across 3 counties, and have a portfolio of 8 single family rental homes in 4 states. But still, Really?

Our forklift lull didn't start - $3000. Tree fell on the roof of a rental - $2000. Someone - not mentioning any names - crashed some piece of equipment into a new AC condenser - $6500. Spec home water well sediment filter - $10,900. Sales tax audit - $35k (because for some god-forsaken reason a little hardware shop out of Tennessee didn't charge us sales tax for internet sales and we buy an impressive amount of hardware I guess). I think there's a few more, but I've put them out of mind for the moment.

Serious money! Out of the blue. Best strategy for those types of expenses is pay them quick and get them behind you since the longer you contemplate them, the longer the pain sticks around. Pay 'em, move on the next problem. Only thing that makes it better is knowing it's actually only 50% of the invoice because of my baller tax rate level.

Pop Art Crying Businessman Wipes his Tears with a Handkerchief. Vector illustration — Stock Vector

Oh, and I forgot to mention that the literal non-stop rain since September is degrading our driveways, private roads and everything else we do with land, which is all we do, period, so, that sort of sucks ass too.

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