All Forum Posts by: Audrey Ezeh

Funny enough @Brian Buckley I just literally got back home from evaluating a property and it looks like a knock down job but I can build a duplex in place of the sfr. I am interested in seeing the answers from experienced guys. Thanks for the post!

 Wow that's high praise! Nothing like a great team on your side in this business. I am rehabbing one side of a duplex right now and so far I am really happy with my GC. I found him through a really good property manger and i hope to work with him long term!

Wishing you more great deals this year! 

Looks amazing! I love how it blends with the area like it was an older/historic building. Really nicely done and congratulations!

Sounds good, thanks!

Lol not harsh Deborah...just a reality and I totally get it. But this is an 18yr old kid that has never been on his own so I had to help him out. But looking at this situation, I might be the one getting trained here not the tenant...not good!

I forgot to ask, if the current lease I inherited does not address the lock out issue, should i just add one and any other items as an addendum and ask the tenant to sign or address at lease renewal?

@Matthew Olszak

Wow so much wisdom right there! Thanks so much. I planned to change the key to the front unit as soon as rehab was done but it never even occurred to me to change or re-key the back unit. I'll be on that asap. I already have a lock-box on the property so I'll keep a spare key there :)

Yes that water heater will have a new home behind that wall on the outside of the house and in its own enclosure. 

@Rachelle Rodavia Yes definitely sound advise and thanks :)

Closed on my duplex on Thursday. Seller who happened to be pretty much a friend I met through REI forgot to give me the key to the back unit that is already rented out. He left the key to the thrashed unit that needs roughly 10k rehab. He was out of town and very apologetic, I said oh no worries, what's the worst that can happen? It'll be fine. Just give me the key when you get back into town.

What do ya know? Tenant locked himself out the next night! I had no key and wasn't going to get a locksmith out at 11pm on a Saturday night to eat up all rent that I haven't gotten yet lol. Told the kid to crash at a friends and got the locksmith to let him in yesterday. My buddy seller will pay the bill thankfully but I just got my first lesson in Murphy's law and the school of hard knocks :)

Here are a few pix of the front unit. Can't wait to transform this bad boy. Already learning lesson 2 ...dealing with contractors...the budget is already going sideways but I have a few strategies to get back on track. 

I'll PM :)

Have you guys considered private lending? You can probably make good returns while waiting for good deals to come along or your market to cool down. Unless of course you want to stay liquid. I have the opposite problem...deals but not enough $$!