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Updated over 8 years ago,
Sometimes satisfaction comes in forms other than money!
I purchased my first property (4plex) back in September and have been renovating each unit which has been a huge undertaking considering that Murphy has been by my side the whole time and anything that can go wrong has from stairs literally breaking as I was walking down to trying to fix a leak that took weeks to figure out to evicting multiple tenants. It seems like there was always one thing after the other and I knew the risk when I started or else I would not have done it but I never thought it would just keep amassing.
Today actually was a good a reminder as to why I am doing this besides the money. With the help of a painter and handyman I had recently renovated a 1 bedroom unit that I spent a few lateeee nights at trying to bring my vision of a nice apt that someone would appreciate and enjoy living in. I met the new tenant and her mother and I asked the tenant if there was anything that she noted that could be addressed and outside of an internet issue with the company she said she loved it and then I spoke with her mom who was helping her move in and she could not stop praising me on all the work that was done and how nice it was and that "it was the nicest place they had seen". It was as simple as a thanks and the excitement in their expressions that made my day. While I am definitely happy to have additional income coming in I believe that the compliments brought it all home for me especially after all the nonsense I had to deal with for just that 1 unit.
The lessons I would like to pass on with emphasis in renovating is: if you are going to do something do it right, pay attention to detail, don't be afraid to spend a little extra money to buy something more premium to get an edge on your competitors if you can afford it and its just, and take every misfortune as a lesson so you can do it better next time.
So the next time you are going through the struggles of doing a renovation just wait till you see the looks on your buyer/renters face and that will hopefully motivate you the way it motivated me to be the best you can be.
Stay frosty BP community!