I got pretty busy last week and was not able to update my accomplishments.  This post will serve as an update for the last two weeks.

My Holdings
Work on the Bathroom Hole House is proceeding. 

  • I found someone who can fill in the pool for $1,000 which is half of my previous estimate; a neighbor owns a backhoe and offered to do it. 
  • As noted a few weeks ago, we found a lot of stolen wiring under part of the house.  I had a quote for $1,000 but the contract claimed they did not have the man power for the job (did they underbid?).  I called for 3 more estimates; I had a no-show, a $3,000 estimate, and a $2,000 estimate.  I went with the $2,000 estimate and they are working on it now.  The electrical should be fixed early next week.

I closed finally closed on the EON house

  • We signed the documents on Thursday of week 8, but the deed was not signed properly.  We had to wait until that was corrected before funds would be disbursed.  Finally, on Thursday of week 9 funds were disbursed.
  • I expected to replace most of the plumbing, but it was not as bad as I thought.  A plumber is working on it now and he is going to fix all plumbing problems (not faucets and toilets) and relocate the water heater for $715 (I buy the water heater).  I bought the water heater today for $226, so I will probably spend about $950 on plumbing and I had planned for about $3,000.
  • Next week I will have a more detailed repair estimate and some pictures.

Leads
No new leads, but I did birddog the one lead I had gotten from my website.  I called a ‘We Buy Houses’ guy and got him to sign up at the investor section of my website.

Landlord Duties
The tenant moved out at one of the houses I have with a partner.  She was behind on rent and had paid $250 partial rent.  Then she had to leave because her power was shutoff and DFACS was involved.  I told her I would pay her $250 back if she would leave by Wednesday of week 9 – she did.

It was not as simple as that; a few days before she moved out she got in a fight with her boyfriend (who was also on the lease).  He returned to the house to get some things and climbed in the window.  She called the police for breaking and entering and claimed he kicked down the door.  The police called me to verify that he was on the lease. 
They have now moved and left the house in a mess.  We already have a ‘For Rent’ sign up and have shown it once.

I evicted a tenant at one of the other houses I own by myself.   The constable was coming Tuesday and they left on Monday.  I have the ‘For Rent’ sign up and I have shown the house twice.

I have another house in which the tenants moved out because they were transferred for their job.  They left before the lease was up and forfeited the deposit.  They left the house clean but there are some paint issues.  I had given them permission to paint, but they did not finish and now I will have to do it.

I also have another vacant house which I own.  I have an application for a tenant that I think I will approve.  I just need to verify their employment which I will do next week.

Out of the 10 houses I own alone, three are now vacant.  This is the most vacancies I have had at one time.  I also have 1 vacancy for the 3 properties I have with a partner.  For the houses I own alone, I put up 3 ‘For Rent’ sign and a total of 11 arrow signs point to the houses. 

I used the signs I ordered in week 7 and it is working very good.  When I get a call the caller hears a message that describes the three houses I have and then they can leave a message.   I have had a 2 bedroom house vacant for over 4 months with very few calls.  Now I have received a lot of calls  from people who saw the ‘For Rent’ signs for the other house but wanted a smaller house.

 

  2 Responses to “Week 8 and 9 Accomplishment”

  1. Don,

    3 or really 4 vacancies at once! I am fearful of just having 2 at once. Good luck with that. The January vacancies can be tough.

    Those For Rent signs always do the trick for me. I am going to try those arrow pointing signs on my next one..

    Take Care,
    Ch.

    • This is the most vacancies I have ever head. And now anohter tenant has moved one day after I filed for eviction. That is 4 vacant for me, 1 vacant with a partner, and 2 being rehabbed.

      I have 3 people giving depoists today. I hope to get these filled.

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