Archive for the ‘fixer-upper business’ Category

Will Rogers’ Secret of Seizing Opportunities

Wednesday, July 17th, 2013

“It was not so much that Will sought the new opening as that he never failed to seize it when it came his way.” — Betty Rogers 

It’s nice to think that we are captain’s of our own ship and masters of our own destiny. Who doesn’t want to like Captain James T. Kirk or Bill Gates?

In my own case, I know that the reason I became the person I am today is by, not so much bending life to my will, but more by taking what life handed me, and by being keenly alert when a new opportunity presented itself.

That’s the way Will Rogers found success.

As his wife Betty said in her biography of Will:

His whole career was the development and unfolding of a personality through the various vehicles that seemed to be constantly and almost miraculously presenting themselves. His comment on stage on the stage during his roping act was incidental at first, if not accidental. (Will never spoke during his Vaudeville rope trip act, except when he once made a mistake and the audience laughed at his funny excuse. From then on, he incorporated that comment, and gradually others, into his act.)

His writing came the same way. (Will wrote a regular Sunday feature for the New York Times that was syndicated throughout the U.S.) His entrance into the movies, too, was not of his own seeking  (he starred in 69 movies). But once started in these new fields, he made the most of each, giving to them the same enthusiasm and energy he had given to the rope (tricks) in the early days.

I added the comments in parentheses to the text.

Meander in the Direction that You Want to Go

I know I’ve probably said this before, at least in Fix em Up Rent em Out, but a good way to get started in real estate, particularly if your circumstances are such that it is impossible for you to start investing in real estate right away, is to just start by meandering in that direction, like a slow, gurgling stream.

You can program your mind to pay attention to anything related to real estate. Cut articles out of the newspaper, buy books at book sales, tale to friends and co-workers about it, watch for seminars and classes about real estate investing. Sometimes desire and knowledge can be acquired simply by observing someone else operating a successful business.

And, when the opportunity does present itself to get started, like Will Rogers, seize it!

 

Upcoming “Turn Your Home Into a Rental House ” Radio Interviews (most shows can be heard  on the internet)

Friday, July 19th, at 7:45 am (eastern time), I will be interviewed by Gary Sutton and Chris Tyler, at WSBA 910 AM  in York, PA.

Friday, July 19th, at 8:10 am, I’ll be on Dan Ramey’s show on WBEX 1490 AM, in Chillicothe, Ohio.

On Thursday, July 25th, at 7:10 a.m. (central time) I’ll be on Jeff Anderson’s show, KSDR 1480 AM, Watertown, South Dakota.

On Friday, July 26th, at 7:30 am (mountain time) I have an interview with David Gillian, KRSN 1490 AM, Los Alamos, NM.

Tuesday, August 6th, at 8:10 am (central time), I’ll be on Bob Schmidt’s show, WLFN 1490 AM, Onalaska, WI.

Watch this space for information on additional interviews.

Related Articles:

Volunteering at Pascua Yaqui Youth Career Academy Job Fair

Our First Rental House Plunge

Wednesday, May 22nd, 2013

By Terry & Angy Sprouse

 

We (Terry & Angy) are partners in both marriage and in real estate business.

Who says married couples can’t be business partners? And the great thing is we have never considered divorce . . . murder sometimes, but never divorce. Well, never murder, really, but maybe forcing each other to watch, in an uninterrupted viewing, the horrifyingly bad movie, The Clan of the Cave Bear.

In reality, this business has been a bonding experience, not only for us, as husband and wife, but also for our two boys, who have been active participants in the business from the very beginning.

9/11 Attacks Take the Starch Out of Us

We started in real estate investing following the terrorist attacks on the World Trade Center. The ensuing economic recession forced our hand. The hours at Terry’s job were drastically reduced. We realized that for the security of our family, we needed to have a business on the side—a business able to provide regular cash flow in case Terry’s 9 to 5 job suddenly went away.

This led Terry to experience a very intensive period of soul searching and in-depth research (accompanied by gratuitous whining and moping). We decided that a rental house business was the best way to go. We were excited to find the rental business was an easy business to learn and to start. This business required no special license, degree, or training. And the results tempered the most important source of Terry’s whining. The rental business offered the potential to make money.

We Jump In and Hope the Net Appears

We essentially just jumped in with good intentions and very little practical knowledge. After we made up our minds that this is what we wanted to do, we simply bought an inexpensive fixer-upper house, one that had foreclosed and been repossessed by a bank. We moved into and lived in the fixer-upper house while we did the necessary repairs.

But most importantly, we did not sell our original home. We rented it out.

Angy Puts Her Foot Down – On Top of Terry’s Foot

It took a little adjustment to move into that first fixer-upper house. The first thing we did was to get one of the bathrooms back into working condition. Angy’s negotiating stance on that topic was, “I’m not living in that house unless at least one bathroom is fully operational!” At that, who could argue? Marveled by a mother’s logic, together Terry and the boys nodded their heads and dropped the labeled empty plastic bottles they held in their hand into the Recycle Box.

As we went forward with the repairs, we changed bedrooms frequently. Moving from room to room, we cleared out of one bedroom to install tile and then moved again out of the next to make room to install carpet. Huffing and puffing, we moved furniture from one side to the next as we worked through the house painting all the walls. We replaced the cabinets in the kitchen, the fixtures in the bath, the leaky plumbing and the outdated lighting.

Group Hugs

Preparing meals required serious creativity. Entertainment and rest required the same. But the support and flexibility from all family members, and a few timely “group hugs” (some through gritted teeth), got us through.

 

—–

Recommended reading:

Remove that Garbarge Disposal Now!

6 Steps to Roof Maintenance (for the Home that will Turn Into a Rental House)

How I Evicted A Problem Tenant in 4 Steps

When to Hire a House Inspector – Radio Interview with Rich Peterson

Getting Rid of Bad Tenants

“Turn your home into a rental” on Mark Wayne Show

7 Reasons to Live in a Fixer-Upper House While You Repair It

6 Steps to Roof Maintenance (for the Home that will Turn Into a Rental House)

Our First Rental House Plunge

10 Most Frequent Problems Found by House Inspectors

5 Steps to Get Your House Ready to Rent by Terry Sprouse

5 Steps to take if your house is flooded

Some perfectly legal ways to maximize your rental profits

Add “Start a Rental House Business” to Your Bucket List

The 5 Rules on How to Lose Money and Get Your Rental Property Trashed by Tenants

Window Repair with #2 Son

Required Roof Maintenance for Fixer Upper Houses

Learn to Repair Your Fixer Upper Houses

How I Got Started In Fixer-Upper Houses

How to learn to operate a fixer upper house business

The Peaceful Warrior and Fixer-Upper Houses

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Dreams, Investment Houses and Creating Books

Thursday, November 15th, 2012

Freud

Sigmund Freud said, “Dreams are often most profound when they seem the most crazy. ”

But what really are dreams? Fearless Men shares a tantalizing glimpse in What Dreams Mean: How To Know What Your Dreams Are Saying To You.

As a fervent believer  in investing in fixer upper houses, I also like Fearless Men’s article Investment Properties Offer a Long-Term Source of Income.

Book writing and self-publishing is another passion of mine and I read with great interest Should I Create An eBook?  at untemplater.

Here are some other favorite posts from the precious week:

Wholesaling Do’s and Don’ts at Louisville Gals.

Are Large Companies Immune to the Fiscal Cliff? at Frugal Rules.

First Cruise Ship? 5 Big Ticket Items To Watch Out For at iheartbudgets.

5 Simple and Odd Things I do to Save Money at Frugal Habits.

PerkStreet Financial Review – The Best Online Checking Account at WorkSaveLive

Our $50K Duplex Is Worth $97K – Why? Part 2 ar Planting Our Pennies.

Old Buildings That Go Untouched at BlueCollarWorkman.

Being Thankful, Not Just For Thanksgiving – Giveaway at ModestMoney.

My Best Financial Tip at Canadian Budget Binder.

Choosing organizations to donate to: What do you factor in? at Young Adult Money

The Amazing Power of Debt at Club Thrifty

Being Thankful and a $100 Giveaway! at Eyes on the Dollar.

No Picnic for Young People, Either at AnyShinyThing.

Waking Up Early Black Friday? No Thanks at Pelican on Money.

 

 

 

_____________________

Coming VERY Soon!

How to Turn Your Home into a Rental House, Instead of Selling It

5 Steps to Get Your House Ready to Rent by Terry Sprouse

Tuesday, November 13th, 2012

“Life is either a daring adventure or nothing.”

Helen Keller

If you are following my suggestion and turning your old home into a rental house, or if you are just purchasing an investment fixer upper house, use these 5 steps to prepare your house to rent out.

 Step 1:  Remove Furniture

Move all of your furniture and personal belongings out of your old house. The absence of these items makes the house look bigger and the home is more inviting if it is not cluttered up with beds, chairs, food supplies, and toys. It also makes it easier to do a thorough job of cleaning the house.

This only applies to the first time you rent out your new rental house. After tenants leave in the future, they will take most of their things with them. Of course, some tenants do not follow the normal procedure, and they may leave in the middle of the night to avoid paying their last rent check.

(Occasions like this make it tempting to slip a magnetized GPS tracking device under the fender of the renter’s car.)

An incident like this happened to me a couple of years ago. Not only did the tenant leave a pile of clothing, bottles and boxes of cleaning supplies, cupboards of food, and a sofa, but also left behind a car that didn’t work. (So much for the GPS idea.)

Renters like this one are the exception. Tenants normally take all their things with them when they leave, making it easy for me to prepare the property for the next tenant, and without much effort, present an appealing yet empty house.

Step 2:  Clean Up

 Thoroughly clean the house. This includes painting walls (a fresh coat of paint makes the place look and smell good), washing floors, cleaning appliances (especially the oven), shampooing carpets, washing the windows, cleaning the bathrooms and checking the roof.

 Step 3:  Make Repairs

 Take care of all repair work. Leave nothing to chance and make all repairs before tenants move in. Change broken outlets and switches, patch holes, remove stains, replace cracked and broken glass, repair dripping faucets, replace missing shingles, and fix roof leaks.

The old saying that “Left to themselves, things always go from bad to worse,” is especially true with rental houses. It’s tempting to assume that that small leak in the bathtub, or a toilet that flushes most of the time, won’t bother anyone. But trust me, you will get that call to repair the bathtub or toilet at the most inopportune time.

This doesn’t mean that everything in the house has to be new, but everything should be in working order.

It is a rental house after all, and not Buckingham Palace.

For example, bedroom doors do not have to be replaced every time they have a crack or a hole in them. I rehabilitate the door with wood putty, and a fresh coat of paint. The guy in the “Easy Repair of Hollow Core Door” video below uses drywall mud to fill the hole, with equally good results.

 Buy used construction materials

Missing or broken light switches, outlets, covers can be replaced inexpensively with quality used ones. I have also purchased reliable doors, cabinets, stove tops, dishwashers, and toilets at stores that recycle construction materials, for pennies on the dollar. The Habitat for Humanity Store is one such place that I frequent for good used materials. There are 825 Habitat Restores in the United States and Canada. You can locate a store near you at www.habitat.org

Buy new or used appliances?

 If broken clothes washers or dryers cannot be easily repaired, our policy is to replace them with a quality used one, or with lower end new appliances (like the Kenmore brand from Sears).

 Buy bargain appliances before you need them

 Craigslist and yard sales are great places to find good used appliances at bargain prices. If I see a nice working appliance for a good price, I will purchase it, even though I don’t have any immediate need for it. I’ll just store it in our shed until I need it.

I bought a like-new furnace at a yard sale for only $40 and installed it into a rental house and it has worked great. For furnaces, there are very few moving parts to worry about, and the wiring is relatively simple. As long as the motor works, you’re home free.

I once literally picked up a clothes dryer from the side of the road that had a “Free Dryer” sign taped to it. I gave it a new home and it has been working

Low maintenance yard (in the southwest)

reliably for over 10 years now. The only repair, about five years ago, was that I had to change the on/off switch on the door.

Step 4:  Simplify Landscaping

The front yard of your rental houses must look great. Curb appeal gives the potential tenants a good first impression. Simple and neat landscaping gives the client  comfort that the yard is low maintenance and ecologically and economically low in water consumption saving the tenants money on water and saving you time later not having to replace a yard of dead plants.

This yard went too low maintenance!

I personally like to utilize decorative rocks on our rental yards, and plants that don’t require any watering, like Mesquite and Palo Verde trees, which have long roots that tap into the aquifer.

 Step 5:  Re-key the Locks

 One other thing that I like to do before a new tenant moves in is to re-key all the locks. This is cheaper than buying new doorknobs, and it provides security for our tenants. This protects you and your tenants in case a previous tenant has surreptitiously kept an extra copy of a house key.

 

Related Posts

Remove that Garbarge Disposal Now!

6 Steps to Roof Maintenance (for the Home that will Turn Into a Rental House)

How I Evicted A Problem Tenant in 4 Steps

When to Hire a House Inspector – Radio Interview with Rich Peterson

Getting Rid of Bad Tenants

“Turn your home into a rental” on Mark Wayne Show

7 Reasons to Live in a Fixer-Upper House While You Repair It

6 Steps to Roof Maintenance (for the Home that will Turn Into a Rental House)

Our First Rental House Plunge

10 Most Frequent Problems Found by House Inspectors

5 Steps to Get Your House Ready to Rent by Terry Sprouse

5 Steps to take if your house is flooded

Some perfectly legal ways to maximize your rental profits

Add “Start a Rental House Business” to Your Bucket List

The 5 Rules on How to Lose Money and Get Your Rental Property Trashed by Tenants

Window Repair with #2 Son

Required Roof Maintenance for Fixer Upper Houses

Learn to Repair Your Fixer Upper Houses

How I Got Started In Fixer-Upper Houses

How to learn to operate a fixer upper house business

The Peaceful Warrior and Fixer-Upper Houses

Dreams Still Come True

Friday, September 21st, 2012

Dreams come true: without that possibility, nature would not incite us to have them.” — John Updike

One of my favorite blog authors is Lynne Spreen at Any Shiny Thing. Her article “Our Dreams Persist” describes the long and winding road that she traveled to write and publish her book “Dakota Blues.” I admire her persistence in the face of many obstacles to hold tight to her dream and to finally see it come to fruition.

Reading her story of how she wrote her book reminded me of my own experiences.

I first determined to write a book when I was a Peace Corps Volunteer in Honduras in 1987. I didn’t have any idea, at that time, exactly what I wanted to write about. I just knew that I wanted to write a book that would be useful to others, and to hopefully inspire them along life’s way.

Time Marches On

It wasn’t until 15 years later, after starting my fixer upper and rental house business, that I began to put pen to paper (and fingers to computer keys) to begin writing my book. I thought that sharing my experiences with fixer upper houses would be that useful and inspiring book that I had imagined writing years earlier.

Four years later, through many iterations, and alternating periods of exhilaration and self doubt, “Fix em Up Rent em Out” was proudly rolled out on Amazon.com. Seeing my book finally published gave me a warm glow  that still shines inside me to this day.

The Seed Continues to Grow

What I find interesting, in both my experience and Lynne’s, is that once the seed of a good idea is planted, it grows inexorably and invisibly inside of us, until it eventually becomes reality. The fact that it takes years for the final completion of the dream makes it all the more satisfying.

Weekly Blog Roundup

Additional recent blog articles that I liked:

The Landlord Quick Fix at LandlordInvestor

21 Ways to Manage the Stuff that Sucks Up Your Time at Louisville Gals Real Estate

 Why is it Healthy to Change Bank Accounts? at Fearlessmen

Give your Family an Amazing Fall with these 8 (Frugal) Activities at Frugal Habits

Hording Gold at All Things Pondered

How to Save Money on Contacts and Eye Care at Work Save Live

How We Bought A $50K Duplex – Part 4 at plantingourpennies

Legal Battle Over a Sagging Balcony  at Blue Collar Worker

What Do You Do When You Don’t Know What You Want To Do With Your Life? at Untemplater

Auto Insurance Basics And Recommendations For Everyone at Financial Samurai

Household Budget Tips for the Upcoming Fall at My Money Design

Catering Your Blog To Your Readership at Modest Money

_____________________

Coming Soon!

How to Turn Your Home into a Rental House, Instead of Selling It

What to do when your property won’t sell

Wednesday, September 12th, 2012

There are times when even those of us who are using the “fixer upper and rental house” strategy need to sell a house, despite at one point  having sworn that we wouldn’t sell an investment  house till the cows came home.

A Clintastrophy

Sometimes we have to readjust our priorities, and as Clint Eastwood/Dirty Harry famously said, but apparently disregarded at the Republican Convention, “a man’s got to know his limitations.”

Maybe it’s because the location is just not that good, or you can’t get good tenants, or maybe the property requires too much attention in terms of frequent repairs. In my case, I sold one of my properties in 2010 because of all the above.

So, what do you do if you want to sell a property and it just won’t sell?

Here are a four things that I suggest you do to sell your property:

This house might be overpriced regardless of the price

1.) Check comparable properties in the area and make sure that you’re property is not over priced. If you want to sell faster, and we all want to sell faster, put the price slightly below other properties.

2.) Offer your house for sale and for rent at the same time. If the offers that come in are too low, you can keep it as a rental for another year or two until home values rise again.

3.) Hire a well established real estate agent to sell you house. When I first started my rental house business, I wanted to do everything myself, including selling my properties. Now, I realize that some things are best left to the experts, and this is one of them. A good real estate agent has a lot of connections, not only with potential buyers but also with other agents. They can attract a lot more buyers to the property than I could.

4.) Offer seller financing. Many buyers won’t qualify for traditional loans because of strict requirements and large down payments. This should allow you to sell for a premium price and get a higher interest rate. (Thanks to Chuck at Landlordinvestor for this tip.)

Now for my semi-weekly roundup of other articles that I find interesting in the blogosphere:

I liked the tips by landlordinvestor on advertising to find tenants entitled Running an ad in a weekly paper.

Over at Louisville Gals Real Estate Blog is a provocative interview with real estate investor James Vermillion.

Fearless Men have another batch of highly motivational quotes in Fearless Men Quotes/ Volume 2.

Jewel had an inspirational article in 10 Lies that Will Keep Your Dreams on the Shelf – #1. If you liked “The Artist’s Way,”  you’ll like this.

I could relate to Guilt Induced Frugality at Modest Money.

I was educated by Get an Oil Change Without Getting Ripped Off at Blue Collar Workman.

I relished the article Can Introverts Succeed As Leaders And Entrepreneurs: YES! at Untemplater.

Coming Soon!

How to Turn Your Home into a Rental House, Instead of Selling It

Some perfectly legal ways to maximize your rental profits

Monday, September 10th, 2012

Most terrifyingly bad movie ever?

In the fixer upper and rental house business there are many perfectly legal ways to maximize your rental profits, which don’t require drawing a gun or subtly displaying the threatening DVD cover of The Clan of the Cave Bear.

Keeping tenants satisfied = more $ for your

Putting the comfort of your tenants first can result in you making more money. Three things happen when you increase the value (or usefulness) of a property:

1.) You attract more and better tenants;

2.) Tenants stay longer; and,

3.) You make more money.

 

Things to do make a property more valuable

Catzilla makes tenants complete

1.) Provide a clothes washer and dryer;

2.) Have a refrigerator;

3.) Add a carport to protect tenant cars from the sun;

4.) Install security doors;

5.) Put a storage shed in the back yard;

6.) Allow pets. Many people consider their pet a member of their family, and in some cases, make their decision on which home to rent based on the likely comfort of their pet.

Maybe pet owners cross the line when they refer to themselves as “mommy” and “daddy,” and maybe pets cross the line when they start marking their territory before you even get a chance to go through the checklist.

But in general, allowing pets is a win-win situation.

These types of things increase the value of a property for tenants, and may set our property apart from other rental properties. They also allow us to charge a higher monthly rent.

The more satisfied a tenant is, the more they are willing to pay a little extra rent.

 Related Posts

Remove that Garbarge Disposal Now!

6 Steps to Roof Maintenance (for the Home that will Turn Into a Rental House)

How I Evicted A Problem Tenant in 4 Steps

When to Hire a House Inspector – Radio Interview with Rich Peterson

Getting Rid of Bad Tenants

“Turn your home into a rental” on Mark Wayne Show

7 Reasons to Live in a Fixer-Upper House While You Repair It

6 Steps to Roof Maintenance (for the Home that will Turn Into a Rental House)

Our First Rental House Plunge

10 Most Frequent Problems Found by House Inspectors

5 Steps to Get Your House Ready to Rent by Terry Sprouse

5 Steps to take if your house is flooded

Add “Start a Rental House Business” to Your Bucket List

The 5 Rules on How to Lose Money and Get Your Rental Property Trashed by Tenants

Window Repair with #2 Son

Required Roof Maintenance for Fixer Upper Houses

Learn to Repair Your Fixer Upper Houses

How I Got Started In Fixer-Upper Houses

How to learn to operate a fixer upper house business

The Peaceful Warrior and Fixer-Upper Houses

Coming Soon!

How to Turn Your Home into a Rental House, Instead of Selling It

Add “Start a Rental House Business” to Your Bucket List

Friday, August 24th, 2012

Taking a break from my regular fixer upper rental house blogging, today I am going to comment on some favorite blog articles that I have recently read.

Fearless Men

While I agree with Fearless Men’s article on the silliness of most bucket lists, in their article, 12 Things A Man Doesn’t Have To Do Before He Dies-Stupid Bucket Lists, I also think that starting a part time business is the exception to the rule.

While most bucket lists consist of activities that might reduce your life expectancy ( e.g., bullfighting), or your ability to enjoy life (e.g., broken body from the ever-popular choice of skydiving), a part time business, like owning rental houses, can actually improve your life.

Landlord Investor

Chuck’s article on Vacancy, First one in a while for us . . . is an insightful description a recent episode of  losing  and replacing a tenant. I appreciate this “real life” rental story that I can both relate to and learn from.

Louisville Gals Real Estate Blog

In her article entitled, 13 Cool Tools to Make You a Marketing Superstar, Sharon describes 13 amazing tools to help real estate investor to streamline their business. This is great for me because I didn’t know a lot of these things even existed, or that I needed them, until I read her article.

Any Shiny Thing

I actually read Lynn’s article Nora Ephron Left Us Sleepless a couple of weeks ago. It’s the type of article that touches your heart and makes you reflect on life’s bigger issues.

Turn Your House into a Rental House

By now, you probably know that my theory is that one of the easiest ways to get started in real estate investing is by turning your home into a rental house, instead of selling it.

My wife, Angy, and I are presently finishing up a book about how we go about doing this, entitled, not surprisingly, How to Turn Your Home into a Rental Property, Instead of Selling It.

Here is a quote from a book

According to the American Association of Realtors, the average American purchases 7 houses during their lifetime. In our opinion, those are 7 houses that we should hold onto for the rest of our lives, to generate monthly income and for long-term economic family security. Don’t give away the goose that lays the golden eggs!

 

The usual procedure that most people follow is to sell the home that they live in and to use the cash from the sale to buy a new house. If we tweak the old procedure just a little, it can result in a huge difference in our net worth and our economic security. We propose that instead of selling your home, just refinance it, and use the money from the refinance as a down payment on your next house. Now, you own two houses and you can just turn your old home into a rental property.

Presently, the book is going through the final editing and formatting process. Of course, it’s being reviewed by Homeland Security and the Pentagon, to avoid any classified information from leaking into the wrong hands.

By September the book should be available in both Kindle and paperback editions.

 Related Posts

Remove that Garbarge Disposal Now!

Window Repair with #2 Son

Saturday, July 28th, 2012

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Last Saturday I took my 10-year-old son along with me to repair a window in one of our rental houses. I like to take one of my boys along so they can learn a thing or two about how to repair things, as well as so they can see how I deal with tenants, and, mainly so that we spend some time together and have fun together. I always try to make it fun for them. For example, we went to ACE Hardware to get a new window cut, we looked at the stuff he likes to see, like BB guns and rockets, and, I bought him a bag of Boston Baked Beans.

It was really a big help to have #2 son along. He not only does what I ask him to do, unlike his teenage brother “Mr. Cool Guy”, but he also brings an enthusiastic spirit to the endeavor. One of the first things I have to do is to chip out the old putty from around the window. It’s my least favorite part of the job since it involves a lot of tedious work. After I explain what I am going to do, my son responds. “Can I do it?” I say “okay, go at it,” but I’m thinking, “Well, if you really insist!” What is old hat to me is new and exciting to him.

When we arrived back from ACE with the new window, I accidentally broke the window as I took it out of the back seat of my pick-up. I thought it might discourage my son to head back to ACE again to buy another window, but his response was, “I need a refill on the Boston Baked Beans anyway.” After that the broken glass incident became a running gag with comments like “is it time to break the window again?” and “let’s break the window again and get some more Boston Baked Beans.”

I must admit, it’s not nearly as entertaining when I have to do those little repair jobs all by myself.

 Related Posts

Remove that Garbarge Disposal Now!

Required Roof Maintenance for Fixer Upper Houses

Monday, July 2nd, 2012

One of the jobs associated with operating a fixer upper and rental house business is to keep your rental properties in ship shape!

With the annual approach of summer rains, now is almost the last chance to make rental house roofs water proof before the watery onslaught. As someone who has a sworn aversion for arriving too early to parties, I subscribe to the time-tested philosophy of “better late than never.”

This morning I applied some black roofing cement on some areas on one of my townhouse roofs. I had located some cracks upon my inspection of it about 2 weeks ago.

The first photo shows the area in question, where I had previously applied a small amount of plastic roofing cement, but today I was going to put on some more and cover a broader area.

Before picture

The second photo shows the application of the plastic roofing cement. We apply one layer of cement, then put a white membrane on top of that, followed by a second layer of cement. The membrane allows for more cement to be applied.

Application of roofing cement

Below is the “after” photo. You can see that in addition to the corner, we hit a few other cracks with our roofing cement on the sides of theroof. Later, we’ll come back with white roofing paint to cover the black cement.

Completed repair

A good rental house

My wife and I purchased this 2 bed 2 bath townhouse in 1993 and lived in it for 10 years before moving on to a bigger house (to accomodate our growing family), and turning this property into a rental house in 2003.

Its been one of our best rental houses because it is in a “transition” zone (aka “opportunity zones”) where there is heavy demand for housing, and it is easy to care for because it is compact (1100 sq ft with small front and back yards). The townhouse perfect for single people or small families.

We originally purchased it for $53,000 and we charge $750/month (more if the tenants have pets).

Related Posts

Remove that Garbarge Disposal Now!