Lesson Learned while Searching for our Next Rental Property

The weekend means a lot of different things for a lot of people.  Some of you out there spend your weekends hanging out with your friends, partying, and celebrating your two days away from work.  Other people, like myself, spend their weekends on business ventures such as going to open houses with the goal of finding new properties to invest in.  At least that is how we spend most weekends, and though we don’t always end up making an offer on any homes, each potential property we visit helps us to better understand current market values.

For us, it is a good use of our weekend.

While there were no real good investments to find this weekend, we did learn a thing or two about water damage repair from a chatty realtor Saturday.  We were looking at a home that was priced well below market value, so we knew that something was up.  You don’t usually find deals like this in the current market, so we happened to ask what was going on.

He had a story to tell.

It turned out that the home had a bit of a flood after the drain pipe fell off of the upstairs washer.  They had hidden the damage by painting over it, but after the realtor had mentioned the issue, we could see what we were missing.

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Needless to say we walked away from that property.

But the silver lining is that we learned a valuable lesson that will be applied to any other property we might look at – so looking at houses this weekend was worth it.

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Posted by Melissa Jones - April 16, 2017 at 3:17 pm

Categories: Real Estate   Tags: , ,

Birthday Present for Grandpa

What do you buy a eighty year old man for his birthday?  That was the question that had plagued me for the last three months.  My grandpa has never forgot any of my birthdays for as long as I can remember, and he usually picks out something that his perfect for me.  But he is also the type of person that will buy something if he wants it – which makes it hard for someone that is looking for a present for him.

So I am always keeping my ears open for any kind of hint of something that he might want.

A couple of weeks ago he mentioned that he wasn’t happy with the siding on his home.  For the last forty years he has had wood siding that needs to be painted regularly.  He was getting tired of having to maintain the outside of his home at his age and was looking for a change.

I knew I had found the perfect idea for a birthday present for him.

I looked in his neighborhood to find some siding contractors Plymouth Michigan, and was able to find one located at 51225 West Hills Drive, Plymouth, MI 48170, which was a short distance from his home.  I booked them to come do the work while my grandparents were on vacation, so that when he comes back he will be surprised.

That is just in a couple of days.

I hope he loves his birthday present.  I better start thinking about next year.

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Posted by Melissa Jones - March 27, 2017 at 10:07 pm

Categories: Life   Tags: , ,

Renovating in Arcadia

windowsreplacementinarcadiaThis week I am working in Arcadia helping a childhood friend of mine finish renovating his home.  He has been working on the project for the better part of a year, but he has got to a point where he needed some help.  There are just some things that he wanted to do in the house that he couldn’t do on his own, and he enlisted my help.

It was a good excuse to get out of work for the week.

While I am helping with some of the work, there are things that I will not be doing.  For example, he has someone coming in to do the Windows Replacement in Arcadia as neither of us have ever replaced windows before.  In those types of cases, it makes more sense to hire an expert as it saves both time and the possibility of screwing that part of the renovation up.  We’re both man-enough to admit when there is a job we can’t handle, and thankfully there is talent in the area that can do the work we can’t.

We are hoping to get most of the work done here by the end of the week because I need to be back at work on Monday.  It has been a good week – working by day and visiting by night.  I am lucky I had the opportunity to come help him out.

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Posted by Melissa Jones - March 7, 2017 at 3:42 pm

Categories: Life   Tags: , ,

Rental Property Troubles

IMG20170206WA0020It seems that all of the rental properties that I have bought in the last few months have been ones with problems.  This happens from time to time, and no matter how much planning you do before buying a property, there is always the chance that there will be problems.

Trust me on this one.  In fact, let me share a story with you.

Two weeks ago I put an offer in on a duplex in an area that I have had my eye on for some time.  The good properties in the area are few and far between, so I had been waiting patiently for something to come up for sale that I could snatch up.  Like always I made sure to keep my emotions out of my investing, so when I bought the duplex, I thought that I had a winner.

But I had made one mistake – I didn’t do a walkthrough of the property myself.  I had one of my employees do it and bought based on their suggestion.

It was a mistake.

As it turned out, the property had some extensive water damage and we had to call in some consultants that specialized in Water Damage Restoration Castic to deal with the issues.  They have been working on the property here for a day or two now, and though progress has been made, it is not in a rent-ready state yet.  Hopefully we’ll be able to get it out there for rent soon, but in the meantime I learned a valuable lesson: I need to do walkthroughs on my own before buying any new rental properties.

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Posted by Melissa Jones - February 16, 2017 at 11:01 pm

Categories: Real Estate   Tags: , ,

Ordering New Work Clothes

December was a particularly rough month at work.  We were busier than usual for that time of year and it seemed that most days in the office were rushed.  Much of our equipment and uniforms were not cared for as well as they should have been that month to the point where some of them needed to be replaced.

Sometimes that is the cost of business.

I figured that I would order some new groomers pants at this time of year since things are a bit slower.  Sure, we actually have enough uniforms in-stock for everyone, but I am one of those people who like to be a little more cautious and have extra clothes on-hand just in case we need them.

I guess I plan for the worst-case scenario all of the time – I suppose that risk-management is a good skill to have when you are the business owner, right?

It shouldn’t take long for the new work clothes to be shipped here and I’ll feel a lot better once we have them.  In the future we will have to be more mindful of the tools that we use to make our livelihood – we should have taken better care of them over the Christmas season.

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Posted by Melissa Jones - January 5, 2017 at 3:50 pm

Categories: Business   Tags: , ,

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