Critters and Time Management
Thursday, March 17
One of my new rental units has cockroaches. Yuck. Hate them. Crystal City inspector suggested bringing in a Pro. Another person I trust said the same thing. Glad we did. Got hold of a professional with 30 years experience getting rid of them. It is not cheap, but putting out a letter to te...
Rehab While Occurpied
Friday, March 11
What a whirlwind four weeks it has been since we acquired our 4 plex. We just upgraded electrical to breakers from fuses, and have finished a laundry list of activities including getting leases signed, exit doors fixed, electrical upgrade, sinks and stove's fixed or replaced, solid waste vendor ...
Rate Hike Letters Sent
Monday, February 22
I inherited four tenants when I bought my 4 plex. Thanks to another BP member who owns 4 plexes in the area devised my rent increase strategy, studied, and studied, and studied. And then I set my rent among the lowest quintile in the region, mainly because the units need rehab, but this will b...
Quickbooks 2016 - Yikes
Tuesday, February 16
Just closed on our 4-plex yesterday, and as part of the acquisition process, I'm encountering what many others have spoken about. My systems need improving. Following some of the other bloggers, I plunked down $188.00 at Costco for Quickbooks 2016. I bought it about 4 weeks ago. Now, a little ...
Marketing Worked - 4 plex closes 02/15/16
Tuesday, January 19
We had been looking at MLS feeds that our realtor sent us, and we have been perplexed at the prices for 4 unit buildings in bad shape. A property I looked at last summer that was in need of at least 30k in cap ex and had lousy tenants and high crime sold for full asking, 299K. We had a lead on ...
Pays to Hire an Inspector
Wednesday, November 11
I was tempted to remove my post about God's persistence on this deal. I don't understand everything he does in my life. But the inspection today revealed a building with several large problems, one primarily being a heating unit needing total replacement, and venting carbon monoxide into the b...