Second rental property stabilized!

[Kedric Naylor]

I wanted to update you all on my journey. As of today, we have stabilized the second property! We have good tenants at market value rent after value-added renovations. This time around, we cut the tenant location process from 3 weeks to 8 days, cash in hand.

Thanks again, BP family, for helping me.  I really enjoy networking with you all.  I have made extremely useful connections on here.  

We did have a unique little situation take place during the renovation.  We knew on the front end we would need to replace the HVAC once we closed.  Well, we called the HVAC folks who recently installed our new systems at our main home.  They quoted me 16K for a single-stage system.  They said the price increase was standard for economic situations.  I almost didn't question it as they are MY HVAC folks.  Well, I called a competing company and  got a quote for 11k; 5k saved immediately.  I had everything set to go when I decided to tell a property manager friend I found on here about how crazy the situation was.  He tells me I'm still overpaying and to reach out to the company he uses.  His guy comes out and quotes 7k for an equivalent system.  In 48 hours, I went from 16k to 7k!  Needless to say, it's awesome to leverage connections from this site to improve my business decisions.

On to the next deal.  If you have any connections in or around Atlanta that can help with impressive lending or finding really good deals, let me know.  The process is getting easier.  We are picking up speed on the race to 8 doors.