Well, sort of! We have actually got the worst behind us! If you remember from a post a while back, I showed some pics of an apartment building we just bought. It was bank owned and had been vacant for a while. Since then, Wade (and his brother) have been busting it day and night to get them up and running. We have now completed 4 of the 7 apartments and 2 renters, hopefully a 3rd in the next couple days. Joseph, Wade's brother, lives in the only 1 bedroom apartment in exchange for all his hard work and help!
I have to say, I am so very proud of them! Probably about once a week during the fall, I wished we could just sell it! I may not have been renovating them personally, but I sure didn't get off easy. Taking care of 2 little girls (that missed their dad) ALL day long...is not an easy task!!! I gave an application to a renter today for the last apartment (that's finished anyway) so hopefully we will have that 3rd one by the end of the week! That will be GREAT, as 3 renters will pay the mortgage and allow us to take a breath and finish the other 3 for profit!
Front Before
Front After
Kitchen Before
Kitchen After
Living Room Before
Living Room After
I am TRULY so proud of those to guys, and between you and I (and, well, the whole world wide web) I'm a little surprised!!! Who knew I married such a handy man!!! ;)
Since the purchase of the apartments we acquired 2 duplex apartments. We have them both full with a renter on each side, but not without problems. One renter hasn't paid up and we have evicted them...but, they are still there!!! :) Soooo, wish us luck with that! But all in all, we have 6 renters and 5 of them have been GREAT! I guess there is always gonna be a bad one in the bunch! :)
Our second rental
And the third
Kitchen Before
Kitchen After
Living Room Before
Living Room After
I am TRULY so proud of those to guys, and between you and I (and, well, the whole world wide web) I'm a little surprised!!! Who knew I married such a handy man!!! ;)
Since the purchase of the apartments we acquired 2 duplex apartments. We have them both full with a renter on each side, but not without problems. One renter hasn't paid up and we have evicted them...but, they are still there!!! :) Soooo, wish us luck with that! But all in all, we have 6 renters and 5 of them have been GREAT! I guess there is always gonna be a bad one in the bunch! :)
Our second rental
And the third
8 comments:
All I can say is wow. High 5 to all of you.
Wow...super impressed! kudos to all of you.
Nicely done my friend!!!
good job on the clean up!
Nicole, honey, having been in the rental business for four years, let me give you a piece of advice: hire a management company. We did without them for three years, thinking we could do it ourselves and save money. We lost THOUSANDS of dollars evicting and trying to collect rent. (we have several rental units.)
Hiring a management company was the best thing we EVER did. They have found the best people and they do the dirty work. They know the law inside and out. We spent four months evicting a family once. The management company did it in two weeks. They are well worth the money. Plus they'll make sure you get people in there that you don't have to evict.
I'd hate to see anyone else go through what we did!
Wow! I am super impressed. Wade is the MAN! Proud of you guys! Love, Lib
Wow--I'm impressed! They look great!! A ton of sweat equity went into that job. (And yes, I consider your role huge--it's no mean feat taking care of kids by your lonesome!)
Wow!!!! That's impressive!! They look awesome!! :)
Impressed with your progress is putting it mildly. Cudos to both of you (and family and kids) for having the courage and perservance to mark your future. You are right on with the building of long term wealth and security! I am proud and impressed. And to think I sold you your first house....who would have know....God Bless!
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