Well Rounded Investor

My journey of becoming financial independence by 35 years old

Rental Property Update

Well, some of you who’ve been following my blog knew about me cashing out ~$57K in stock and savings to buy my rental property. Here was the last update, since then not much progress has been done as my family was planning my $20K wedding (which I didn’t know they were spending that much.) Anyhow, renovation has resumed. I’m ecstatic to hear that

  1. Painting will be taking place tomorrow.
  2. There isn’t too much extensive plumbing work done. The drainage line wasn’t blocked.
  3. After dwelling into the house, and opened some drywall, my brother stopped calling me “stupid” for spending $57K on the rental. hahah πŸ˜› Yup! It was true, he was worried that I was losing money on this house. Some tough love! hehe He’s now saying that the house is pretty solid. There won’t be a lot of material costs, mainly labor cost. He has two guys working for him, so I hope my brother won’t charge me that much. LOL πŸ™‚

Here are some updated pictures prior to painting:

 

Remember the pile of dirt in the basement? The dirt is gone. The floor is cleaning shiney for now. I’m hoping to put new flooring in, but I don’t know if my brother is up for that. LOL πŸ™‚

Mr.W’s condo bathroom sink was crumbled. It was literally crumbled. So he called his plumber for a quote. A week later the quote came back at $1800 to switch out the sink, if they have to touch any painting, it’d be additional cost. I had my guy came over and did it for $220 part, and $120 labor. Well, I helped him a little bit. A saving of 82% is no joke.

Here was his sink look like before and after:

 

I guess affinity to saving can be contagious. If it was before, Mr.W would have take the plumber’s estimate and call for another estimate, and choose the lowest one. This process can take weeks given his 9-5 schedule. Now, he knew better and let me handle the job.

I’ve found out, being a little consumer can be contagious also. Mr.W has data, and I happen to play Pokemon Go. You all know that I don’t have that much data beside the 200MB allotted by T-mobile for free. So, he has been letting me using his data to play Pokemon go on our walk to the parks. LOL πŸ™‚ The park next to my house is a little Machop’s nest. I’ve gotten so many Machop that I could evolve him twice, but I’ve been waiting for a higher IV’s. LOL πŸ™‚

It’s been fun for Mr.W, as he’s hurt his back again, so he can’t run. Since, we’re not playing soccer, it was hard to motivate me to get out of the house. Pokemon Go came just in time, as he knows I want them Pokemonsters hehehe LOL πŸ™‚ I adore those eevees. I only have one t-shirt that is red, and I have an infinite number of blue color clothing. I don’t know why I chose the red team – TEAM VALOR GO! Anyhow, it’s been fun taking down those blue Gyms using my 600s jolteons, vaporeons… πŸ™‚ [‘m savings my 600s eevees after I get past level 25. LOL.] Somehow it gives me joy using my weak pokemonsΒ  taking out those level 7 gyms with these fancy dragons. I guess that’s what the developer is hoping for, bringing joy?! I have not spending any money on the game by the way, and earning lots of coins. πŸ˜›

 

 

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6 comments on “Rental Property Update

  1. Investment Hunting
    August 17, 2016

    Nice job Vivianne. It’s getting closer. I bet you’re learning all kinds of new skills, wall patching, caulking, etc. When is your wedding?

    Like

    • Vivianne
      August 17, 2016

      Thanks! I’ve been learning a lot. Wedding is October 2nd. πŸ™‚ somehow, I’m super nervous. πŸ™‚

      Like

  2. mr MB
    August 18, 2016

    Well, the good thing about weddings, they only ask one question and the answer should be affirmative πŸ˜‰ Hope you enjoy this special day. The amount of work you have done on the rental property is impressive – i did similar once for my own home, dont think i will repeat it anytime soon (but you do learn alot, and save even more).

    Like

    • Vivianne
      August 18, 2016

      Thank you. Actually, since this rental is in the Midwest and I’m living on the Eastcoast, I’m leaving everything on my brother’s hand. My sister will check on it for me. So, this one is passive income for me. We’ll shall see. πŸ™‚

      Like

  3. Team CF
    August 25, 2016

    Really good to see the rental, good luck getting it to the point of renting it out. Still lots of work to do, I guess? Looking forward to the next posts!!

    Our two rentals hit the market in august and are supposedly being rented out by September 1 and September 12, really pleased with the quick turn around!

    Like

  4. Pingback: What/When Is Enough? | Seeking Returns

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This entry was posted on August 17, 2016 by in Best post.

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