All Forum Posts by: Mickey Petersen

@Dave Kush lol yeah I decided Id switch up the walls on this one. I think orange is on its way out. Im pretty much on budget so far. Ill let you know how my numbers worked out once the last unit is done.

@Zachary Ware, Hey Zachary. Thank you! It’s a 4 unit building that I acquired in June. My budget is 70K. Avg. 10k per unit, 15k for exterior stuff, 15k for cash for keys/move out stuff. This is LA county so the move out process can add up. I was hoping all units would be done by the end of this month. 3 of 4 will be done but the 4th will take longer due to the tenant not wanting to leave.

@Andrew Postell, Hey Andrew. Yeah this is a rental. We acquired it in June. 4 units. We have the first unit rehabbed and rented. This is number 2 now ready. Number 3 is two weeks out. The tenant in #4 is not taking kindly to the cash for keys offer so far, so that is a bit more of a project lol. It’s going well though over all.

@Bruce Woodruff lol takes one to know one haha.

Kristi K. Lol that's crazy! Im glad it worked out for you in the end. Yeah the backyard at my place looks similar. Yours was worse though lol. Good times! 

Yeah. And it wasn't a vacant unit. Someone lived here 2 weeks prior to me clearing it out. Here's what it looks like now. Ready for actual renovation.

Im dealing with the same type of thing. I just acquired a new property. 3 of 4 units took the cash for keys offer to leave so we could renovate. The 4th is not having it. His unit needs a full renovation. 15 years of landlord neglect and tenant created problems that I have inherited.

The tenant decided to try and make it hard for me and called the health department. And of course they gave me a list of repairs. I will do the repairs as cheaply and most basic possible in order to satisfy them. 

We are currently in the process of eviction because they also stopped paying lol. Hopefully that part goes quickly.

Newly acquired property.

I knew this renovation was going to be a doozy. Although, I didn't know it was this bad. When I went to clean the place after the previous tenant moved out, I learned real quick how bad it was.

The worst part of it all was the stench. The combination of rotting food, rat droppings, and general decay was overwhelming. The apartment was uninhabitable. Not sure how the tenant survived. The smell was incredible. I started with a regular mask and after 30 seconds I was on my way to the Home Depot to get a full professional ventilation mask.

It wasn't just rat droppings. A full family of rats had actually moved in, taking refuge in the cupboards that were still stocked with old food.

Has any other landlord here ever had to deal with a renovation like this? I'd love to hear your experiences.

This unit took some work. What do you think? See after photos below!!

BEFORE:

AFTER:

Quote from @Mickey Petersen:

Quote from @Mickey Petersen:

Property 1 - Purchase Price - 840k

Here's some photos of the first vacant unit that we are about to renovate at this property as well.

 Photos from the finished unit.

Kitchen After Photo

 Photos from second completed unit.