lessons learned from my first 20 unit rehab
Reached a major milestone after nearly a year and a half....converted my construction loan to permanent financing!!! On 5/31/18 we closed on a 20 unit property that was 100% vacant and in need of lots of love! We added washer/dryer connections to all units and ductless min split heat pumps. Full stainless kitchen appliances including above range microwave. Textured all walls, painted all brown woodwork, new flooring, all new plumbing fixtures and toilets, bathtubs as needed, water heaters as needed....we did a lot!!! For a first time project i'd say we learned a lot and although the project took twice as long to complete as we planned, it's still a huge success! We are currently 85% occupied and 95% leased and expect to be 100% before end of year! This form definitely helped me get through some rough patches either by reading through others posts or posting my own questions. Now I'm asking myself what's next, lol! I'm hooked
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Congrats on your success! Can you post some of the numbers?