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July 30, 2004

Investment Property - Revisited

Well, I have finally put up a for rent sign on the lawn of my 1st property. Despite the fact that there are a few small jobs that remain, I will still show the cozy bungaloo.

The entire project took entirely too long (~5months); however, it was my first and I was definitely short on disposable income. When I jump into the next project, I'm seriously considering taking off the project leader hat, and hiring a contractor to manage the rehab efforts from start to finish. I would then simply check out the progress on a weekly basis.

All I would have to do is simply supervise the contractor, he would manage the work of the subcontractors. What I have learned in this business, is that it is very difficult to gage the experience of these contractors. It really seems like a crap shoot. Some guys are very autonomous, others you have to constantly micro-manage. Anyway, I expect to have the property occupied by September. I have also updated the photo journal.
As usual, you can find them here.

Posted by AG at July 30, 2004 9:18 AM