The Full, Un-Redacted, Unfiltered Story of the Multi-Units First Month

[Deborah Burian]

It's July 1st! Canada Day! "OH CANADA, MY HOME AND NATIVE LAND..." Ok, got carried away there for a moment...

While it hasn't been a full 30 or 31 days, it is the end of the first business month for the multi-units we purchased. You can see a full accounting of that month posted here

[/url]http://www.biggerpockets.com/blogs/3976/blog_posts/28423-costs-revenue-for-june[url]

The short version is, after all revenue is accounted for and bills received paid, we have $281 left. For those of you who have purchased 'challenged' properties before, you know having anything 'left' is a miracle. This is less a miracle than cash accounting. Rents are in hand, bills are not all here yet.

Plus, the major renovations haven't really started. Getting anything done post-tornado is just taking a little longer. For instance, the roof. Scheduled for Friday. No shingles. Scheduled for Saturday "the crew is stuck at the dump." Really? There are still no shingles so I don't know what the crew was going to do when they arrived. Sunday... no shingles. Monday - crew, but no shingles. They were delivered on the wrong block. New plan, Tuesday. We'll see what really happens.