It 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.
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.
While I don’t have a lot of rental properties in my portfolio, I treasure each and every one of them. They will be the way that I pay for my retirement and I treat each and every one of them as investments. A lot of number crunching goes into picking them out, but I still like to inspect them in-person once we have taken possession of them.
So I found myself out at our latest purchase here today and I couldn’t wipe the smile off my face. I had bought this bungalow because of the amazing curb appeal that I saw in the pictures, and standing there in real-life was a completely different experience.
The place looked good.
While first impressions are important, I wanted to see what the place looked like inside. I knew that this home had some water issues in the past, but one of my favorite water damage restoration Los Angeles companies did the work, so I wasn’t worried about it. In fact, the inside of the home was in better shape than I would have expected, so all we will have to do before we rent it out is a little cleaning and a fresh coat of paint.
Hopefully it won’t take long to get the work done – I’d like to have it rented out by the middle of the month.
It is hard to believe that our company moved into our head office nearly fourteen years ago. At the time many of my friends thought it was a pie-in-the-sky dream that would never come to fruition, but against all odds we made it. We have come a long way from the original fourteen staff we had on opening day and I am proud of what we have accomplished.
In order to celebrate opening our fourth store, I decided that it was time that we gave our head office a bit of a facelift. The building was starting to show its age, and if we wanted to continue to make a good impression with our clients and suppliers, I felt that we needed to give our home a little TLC.
The first stage of the renovations was completed a week ago when we found a great deal on commercial windows Los Angeles. The new windows really changed the appearance of the building and modernized it. We have a new door on order as well, and once that arrives, the front of the office will be almost complete.
We are still working out some kinks in terms of finding someone to paint the building, but when we are done, I know the office will look brand new again. Hopefully the renovations won’t take much more time.
After our sump pump quit working sometime last week, I found myself standing in a foot of water in our basement. As a home owner, that is the last thing that you ever want to see. Events such as this cause you to feel a myriad of emotions all at once: despair, anger, sadness and hopelessness. I couldn’t help but wonder how I was ever going to get all this water out of my basement.
This problem was bigger than I could handle on my own.
Instead of trying to tackle it on my own, I decided to enlist the help of a company that specialized in water damage cleanup to do the work. I knew that they would know the right procedures to use, they would have the right equipment and know exactly what to look for – all things that I would overlook.
It was the best thing I could have done.
They got to work right away and pumped the water out from the basement. That didn’t take them long and now they are drying it out before making the repairs.
It feels good to see some progress.
While I know that things won’t be fixed overnight, I am confident that they will be able to get my home back into a liveable condition. Hopefully I’ll never have to deal with this kind of problem ever again.