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Forums » General Real Estate Investing » Surrounded by UGLY Duplexes :(

Surrounded by UGLY Duplexes :( Subscribe to Surrounded by UGLY Duplexes :(

6 posts by 6 users

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Mz Daizy

Real Estate Investor · Hawthorne, CA


Forum_avatar_avatar-cnote

May 08 '08, 09:40 AM

We have newly acquired side by side reo duplex surrounded by (kinda like a court yard) 4 duplexes of the exact same all owned by a different long term owner. His are all oops painted ugly dark turquoise which can never be rematched even if I lost my mind and decided to. If I repaint mine the buildings will not look cohesive and mine will look out of place. Please recommend a solution. Thanks

Edited: 06/26/2010 at 05:10AM


Christian Malesic

Real Estate Investor · Harrisburg, Pennsylvania


Forum_avatar_avatar-heathen

Moderator

May 08 '08, 09:59 AM

I would paint yours - start something. Maybe he will surprise you.

The implication in your post is that it needs painted.

Edited: 06/26/2010 at 05:10AM


Tim W.

Real Estate Investor · Indiana, Indiana


Forum_avatar_avatar-timwieneke

Donor

May 08 '08, 11:13 AM

Originally posted by "cnote"
If I repaint mine the buildings will not look cohesive and mine will look out of place. Please recommend a solution. Thanks

Kind of along the lines of what Heathen said - sounds like an opportunity to have the nicest looking one on the block. If nothing else, you can drive by your property singing, " One of these kids is doing his own thing."

Edited: 06/26/2010 at 05:10AM


Alex W

Real Estate Investor · San Francisco, CA


Forum_avatar_avatar-sroc4

May 08 '08, 03:07 PM

I would fix up your duplex and see if you can buy the rest (cheap) and fix them up too. Maybe because the owners don't want to spend on up keep due to long time tenants with low rents. As you said they are owned by long time owners. Some of those people are old school and just like holding onto property with long term tenants who don't complain about deferred maintenance as long as they can pay cheap rents.

This could be a good opportunity for you to buy the other properties and improve them all. Why not pioneer the transformation of the particluar area? You got nothing to lose...

Edited: 06/26/2010 at 05:10AM


Jason Hanson

Real Estate Coach · Oakton, Virginia


Forum_avatar_avatar-primo_coach

May 19 '08, 11:38 PM

Everyone here gave great ideas. I would certainly make your property look top notch so you attract the best tenants. Then I would approach the owner of the other properties and try to purchase them. He might just be a tired landlord looking to get out of the business.

Edited: 06/26/2010 at 05:13AM


Bob McIntosh

Real Estate Investor · Hoboken, New Jersey


Forum_avatar_avatar-ashamann01

May 20 '08, 01:27 AM

You may even be able to sell the owner on painting his as well. With a little markup of course, you can have the whole thing looking nice for less :)

Edited: 06/26/2010 at 05:13AM




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