I am happy to report that all of our houses are now rented! In addition, all of our two and three bedroom apartments are rented and the only thing I have left is a single one-bedroom apartment! That doesn't happen very often, but just shows the growing demand for rentals, due in large part to the poor economy and high number of foreclosures.
I'm currently working on rehabbing the few remaining units that I bypassed during our rapid expansion of the past 5 years. I've just about finished the rehab on a one-bedroom apartment and will be working on another one-bedroom after that. The next one is an apartment that I was using for storage prior to setting up the storefront at the pink elephant as my centralized storage facility.
I will consider my business to be stabilized once these few remaining units are complete. At that point, I'll take a look at the numbers I'm achieving and the hours I'm working and decide if purchasing any further units are warranted. My goal is to reach a balance between generating the money that allows me to live the lifestyle I desire and work few enough hours each week to be semi-retired.
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