Cashflow 2M — Simplified Portfolio v2.2
Leveraged Income Model | April 19, 2026 | 21 Positions | 2 Lenders | 4.25% Cost
Free Cash Flow
$2.71M
+$565K vs original
Monthly FCF
$226,208
+$47K/mo vs original
Gross Income
$3.27M
13.1% blended yield
Interest Cost
-$552,500
4.25% avg rate
Net Spread
8.8%
was 5.8% (+3.0%)
v1 vs v2.2 Comparison
v1 — Original (45 positions, 3 lenders)
| Gross Income | $2,826,775 |
| Interest Cost | -$677,500 |
| Free Cash Flow | $2,149,275 |
| Monthly FCF | $179,106 |
| Blended Yield | 11.0% |
| Net Spread | 5.8% |
| ROE | 17.2% |
v2.2 — Current (21 positions, 2 lenders)
| Gross Income | $3,266,996 +$440K |
| Interest Cost | -$552,500 -$125K |
| Free Cash Flow | $2,714,496 |
| Monthly FCF | $226,208 |
| Blended Yield | 13.1% |
| Net Spread | 8.8% |
| ROE | 22.6% |
Income Allocation by Sleeve
Capital Allocation
Income Waterfall
5-Year FCF Projection
Portfolio Sleeves
Sleeve 1: BDC Concentrated — 30.1%
Capital: $7,528,333Income: $913,941/yrYield: 12.1%Positions: 3
| Ticker | Name | Weight | Yield | Amount | Income |
|---|
| BXSL | Blackstone Secured Lending | 40% | 11.0% | $3,011,333 | $331,247 |
| JFR | Nuveen Floating Rate Income | 30% | 12.5% | $2,258,500 | $282,313 |
| BIZD | VanEck BDC Income ETF | 30% | 13.3% | $2,258,500 | $300,381 |
Sleeve 2: Covered Call / Options — 24.1%
Capital: $6,028,333Income: $1,311,465/yrYield: 21.8%Positions: 8
| Ticker | Name | Weight | Yield | Amount | Income |
|---|
| JEPQ | JPM Nasdaq Equity Premium | 25% | 9.5% | $1,507,083 | $143,173 |
| JEPI | JPM Equity Premium Income | 15% | 7.2% | $904,250 | $65,106 |
| NVDY | YieldMax NVDA | 10% | 35.0% | $602,833 | $210,992 |
| TSLY | YieldMax TSLA | 10% | 45.0% | $602,833 | $271,275 |
| MSTY | YieldMax MSTR | 5% | 80.0% | $301,417 | $241,134 |
| CONY | YieldMax COIN | 5% | 60.0% | $301,417 | $180,850 |
| QYLD | Global X Nasdaq CC | 15% | 12.0% | $904,250 | $108,510 |
| XYLD | Global X S&P 500 CC | 15% | 10.0% | $904,250 | $90,425 |
Sleeve 3: PIMCO CEFs & Preferreds — 17.1%
Capital: $4,278,333Income: $400,024/yrYield: 9.4%Positions: 4
| Ticker | Name | Weight | Yield | Amount | Income |
|---|
| PDI | PIMCO Dynamic Income | 30% | 13.3% | $1,283,500 | $170,706 |
| PTY | PIMCO Corporate & Income | 25% | 9.5% | $1,069,583 | $101,610 |
| PFF | iShares Preferred & Income | 25% | 6.5% | $1,069,583 | $69,523 |
| PFFD | Global X US Preferred | 20% | 6.8% | $855,667 | $58,185 |
Sleeve 4: MLP ETFs — 14.1%
Capital: $3,528,333Income: $269,918/yrYield: 7.7%Positions: 2
| Ticker | Name | Weight | Yield | Amount | Income |
|---|
| AMLP | Alerian MLP ETF | 50% | 7.5% | $1,764,167 | $132,313 |
| MLPA | Global X MLP ETF | 50% | 7.8% | $1,764,167 | $137,605 |
Sleeve 5: REIT ETFs — 11.2%
Capital: $2,803,333Income: $348,315/yrYield: 12.4%Positions: 2
| Ticker | Name | Weight | Yield | Amount | Income |
|---|
| MORT | VanEck Mortgage REIT Income ETF | 57% | 13.5% | $1,597,900 | $215,717 |
| REM | iShares Mortgage Real Estate ETF | 43% | 11.0% | $1,205,433 | $132,598 |
Sleeve 6: Dividend Growth ETFs — 3.3%
Capital: $833,333Income: $23,333/yrYield: 2.8%Positions: 2
| Ticker | Name | Weight | Yield | Amount | Income |
|---|
| SCHD | Schwab US Dividend Equity ETF | 50% | 3.5% | $416,667 | $14,583 |
| DGRW | WisdomTree US Quality Div Growth | 50% | 2.1% | $416,667 | $8,750 |
Monthly Cash Flow Calendar
14 tickers pay monthly ($167K/mo base) • 7 tickers pay quarterly (Mar/Jun/Sep/Dec add $316K)
Monthly Payers (14 tickers) — $167K/mo
| Ticker | Monthly | Annual |
|---|
| JFR | $23,526 | $282,313 |
| TSLY | $22,606 | $271,275 |
| MSTY | $20,094 | $241,134 |
| NVDY | $17,583 | $210,992 |
| CONY | $15,071 | $180,850 |
| PDI | $14,226 | $170,706 |
| JEPQ | $11,931 | $143,173 |
| QYLD | $9,042 | $108,510 |
| PTY | $8,468 | $101,610 |
| XYLD | $7,535 | $90,425 |
| PFF | $5,794 | $69,523 |
| JEPI | $5,426 | $65,106 |
| PFFD | $4,849 | $58,185 |
| DGRW | $729 | $8,750 |
| TOTAL | $166,879 | $2,002,552 |
Quarterly Payers (7 tickers) — $316K/qtr
| Ticker | Per Quarter | Annual |
|---|
| BXSL | $82,812 | $331,247 |
| BIZD | $75,095 | $300,381 |
| MORT | $53,929 | $215,717 |
| MLPA | $34,401 | $137,605 |
| REM | $33,150 | $132,598 |
| AMLP | $33,078 | $132,313 |
| SCHD | $3,646 | $14,583 |
| TOTAL | $316,111 | $1,264,444 |
Month-by-Month Net Cash Flow (after interest)
| Month | Monthly Payers | Quarterly Payers | Gross | Interest | Net Cash Flow |
|---|
| Jan | $166,879 | — | $166,879 | -$46,042 | $120,837 |
| Feb | $166,879 | — | $166,879 | -$46,042 | $120,837 |
| Mar | $166,879 | +$316,111 | $482,990 | -$46,042 | $436,948 |
| Apr | $166,879 | — | $166,879 | -$46,042 | $120,837 |
| May | $166,879 | — | $166,879 | -$46,042 | $120,837 |
| Jun | $166,879 | +$316,111 | $482,990 | -$46,042 | $436,948 |
| Jul | $166,879 | — | $166,879 | -$46,042 | $120,837 |
| Aug | $166,879 | — | $166,879 | -$46,042 | $120,837 |
| Sep | $166,879 | +$316,111 | $482,990 | -$46,042 | $436,948 |
| Oct | $166,879 | — | $166,879 | -$46,042 | $120,837 |
| Nov | $166,879 | — | $166,879 | -$46,042 | $120,837 |
| Dec | $166,879 | +$316,111 | $482,990 | -$46,042 | $436,948 |
| ANNUAL | $2,002,552 | $1,264,444 | $3,266,996 | -$552,500 | $2,714,496 |
💡 Lean months (Jan/Feb/Apr/May/Jul/Aug/Oct/Nov): $120K net • Fat months (Mar/Jun/Sep/Dec): $437K net
Capital Structure
| Lender | Type | Drawn | Rate | Annual Cost | Collateral |
|---|
| Schwab | Pledged Asset Line | $7,000,000 | ~4.0% | $280,000 | CBS Trust Treasuries ($57.8M) |
| Interactive Brokers | Portfolio Margin | $6,000,000 | ~4.5% | $270,000 | Deployed portfolio |
| TOTAL | | $13,000,000 | ~4.25% | $552,500 | |
LTV: 52%
0%Safe <55%Caution 55-70%Danger >70%100%
Project Cashflow 2M v2.2 | April 19, 2026 | Carlos Blanco | 21 Positions | $2.71M FCF