BRRRR - Buy, Rehab, Rent, Refinance, Repeat
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Updated 11 months ago on . Most recent reply
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Most Disgusting Renovation yet!!
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.
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Most Popular Reply
@Mickey Petersen I bought this one in Mar 2020 from the local tax sale. There were people living in it and because covid hit that week I couldn’t evict. So I had to let them stay rent free until the end of July. By the time we got it cleaned out we had taken 70 TONS of garbage off of the property.
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I bought for $49,000, put $140,000 into full gut rehab, it’s worth over $300,000 now and the renters have paid over $30,000 in rent. Best $100 I ever spent for a respirator🤑