Duplex #2
Posted on October 29, 2007 - Filed Under Business |
Right out of a television crime drama. There was a drug raid. Over 150 marijuana plants were seized. The tenant in the front part of the duplex was sent to jail. His partner, in the back unit, fled the scene. Shortly thereafter, a duplex was put on the market with instructions to "sell it and sell it fast".
May of 2007 brought my second duplex. It had been nearly five months, since my first duplex was rented and began the search for the second. Property inventory was quite high: the question remaining: What was the best deal?
Another craftsmen bungalow, this house was built with a three bedroom one bath layout. Over the years, a series of tenants who had "drugs" as their main source of income changed the interior to accommodate their business. The ceiling was nearly destroyed with holes for venting hot air, fumes. The electrical was re-wired to allow more power to the bedrooms.
It was a mess.
Construction started immediately. The areas of focus:
- Redo the kitchen
- Refinish the hardwood floors
- Redo the entire ceiling
- Add a second bathroom
- Revamp the electrical and plumbing.
Now the house was a three bedroom, two bath.
Unfortunately the budget was blown on the first house. Some creative options were found to ensure the house was finished, including a new kitchen.
The back house was a different story. The wood supporting the floor had completely rotted out underneath. This required, in essence, redoing the entire floor. Once completed, the drywall was replaced and the bathroom floor was redone.
Currently the back house is 50% complete. November 9th is the projected finish date.
The plan: find a tenant for the front house while I live in the back.
Duplex #2
Current Status: Both units unoccupied.
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