Was there something wrong this month or was it just my bad luck? The month of May feels like a month of people taking their sweet time to pay back their dues.
Company wise, there are a couple of customers delaying their payment. Personally wise, I have tenant that is now overdue in their rental arrear up to 2-1/2 months worth! And additionally, my AirKu water vending machine was not only broken in once, but twice. Must be the work of the same gang.
Though the vandals did not managed to get anything from the machine, the damage is really severe with the strongbox damage and it could not be open. In addition, the machine has become non-functional thus no income for me until it is fully fixed while I still have to pay rental. I think the cost of repairs will not make the collection worthwhile. The AirKu business is definitely not going well for me. I’ll have to think of something to get better returns.
Latex industry has been known for their poor payment. And the condom manufacturer up north in Kulim, Kedah is no different with very tight cash flows. I should have stopped the delivery until they are able to come up with the funds. Now their payment will become delayed and my regional office will be screaming for payment.
Robert Kiyosaki must have some kind of mechanism in mind for monetary collection when he says he could receive passive income regularly and on the positive cash flow position. Well, either I slipped on that idea or I just got lousy tenant who is now way, way behind in their rental arrears. Since I’m still servicing my mortgage loan and paying monthly service charges, the tenants are basically living in the condo at my expense! Really boils me upâ€¦