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Posted over 8 years ago

Rehab While Occurpied

What a whirlwind four weeks it has been since we acquired our 4 plex.  We just upgraded electrical to breakers from fuses, and have finished a laundry list of activities including getting leases signed, exit doors fixed, electrical upgrade, sinks and stove's fixed or replaced, solid waste vendor changed, initial city inspection,one electrical fix, and treating for bugs in one unit because the tenant is kind of a slob.  But for three days now, not a peep out of the place.  

Whenever we buy a property, we rehab it.  Usually it is empty.  This time occupied.  And it wiped us out.  Usually about the 4th week into rehab we are looking at each other wondering what on earth we got ourselves into.  Then the building is set, the tenants get trained, and it gets easy.  It appears the same pattern is taking hold, even with the 4 unit.  One tenant was alarmed when I told her, don't call us at midnight like you did the previous owner.  Learn to handle stuff on your own.  I assured her we handle the big stuff, but little stuff is her turf....as the lease states.

We replaced two toilets and every fixture connected to water loss.  The rest were tested to make sure they are functional.  We may have one more faucet to do sometime in the next three months.  I can live with that timetable.

A word to the wise out there.  Contractors cost money.  I don't like writing the checks, but you know what I do like?  They get the job done right, and when they are doing the work, I'm not doing it....and I get to save time.  

I met a handyman in my bowling league, and was bowled over after he finished installing a couple toilets by the amount of $$ he wanted.  But he did in four hours (there were complications) what would have taken me 8 hours, and I didn't have 8 hours.  

Finally, one last thought.  I got about 6 emails overnight from BP, encouraging me to upgrade to Pro, from where I am now.  I truly don't see the benefit of paying more than double what I pay now.  What I get is good by me.


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