All good things must come to an end, and we were soon home where it was much warmer, and we settled back into our usual routines. We celebrated New Year’s Eve quietly at home, although we did stay up just long enough to watch the ball drop on television.
Toward the end of January, I began getting serious about closing the books on the rental properties for the previous year. On the evening that I finished that project, I printed out the results and handed them to Mike.
He studied the printouts for a while and said, “We need some more write-offs.”
“No shit, Sherlock.”
“On the other hand, it’s good that we haven’t been hit too hard with repair and maintenance expenses for the past few months,” he said.
“There is that,” I said. “The good news is that by the time the accountant waves his magic wand and adds depreciation and other stuff, we’ll be okay.”
“In any case, the cash flow is very positive.”
“It is that, and we’re building up a nice little reserve fund for contingencies.”