After a 2 day forced vacation caused by my ailing pickup truck, I finally got back to work today. I started out by mowing the grass at a couple of my apartment buildings. Then, I went to one of my new duplexes to finish up a little electrical work and plumbing work. After finishing the duplex, I went to one of my new houses to rip up the old carpet. I plan on finishing this house Monday by installing 2 new rooms of carpet and painting the kitchen. This house is already rented and I'd like to have it ready so that the new tenants can move in on Tuesday.
On my last blog, I talked about the 7 unit apartment building that another investor offered me. I went to look at it and decided it was more work than I wanted to take on. The numbers were good, but it was a huge building and the rehab could have easily taken 3 months. While I was talking to this investor, she agreed to sell me her 2-unit duplex for $42,500. This is an excellent deal and will have gross monthly rents in excess of 2% of the purchase price. I will take this deal. I'm taking tomorrow off. I'll be running the projection at Church and then we're having a big mother's day cookout at our house.
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