Sunday, April 24, 2005

Wake up

Click on the link and put in 1102 in Colorado to see pictures of the 2 bedroom apartment.
! woke up this am, had breakfast then went back to bed since ! don't get nearly as much rest as ! need. Of course, as soon as ! got to sleep the phone rings. #1 has a stopped up toilet and tub. AND there is a pool in the basement dripping from the ceiling. The plumbers came and fixed things up. Good thing it's Sunday so they'll be able to afford stuff ! can't now. Then ! find out the hot water isn't hot. Another trip to light the pilot light. A couple hours later the same call. Only the pilots lit, not the burner. 3 trips and about 4 hours up there on my day off.
! really hate to whine and the 2nd time it gets really tiresome. ! had this all typed, checked the preview and when ! tried to publish it it vanished. That's the way my whole life is. Nothing just works. It seems like ! have to do twice the work to get half the results. ! calculated that this building (job) will make me about $100/mo IF (that's a big if) every unit is full all the time AND there are no problems to fix. ! wonder what that is like. ! am on call 24/7 and actually spend about 40 hours/mo up there. That means it costs me ~$25/hour to work for someone else. The last owner was never around and never fixed anything. !'ve fixed all his deferred stuff and done more yet rents are plummetting and ! still can't get tenants in. He bought for $400k and sold for $700k after 4 years. @ that rate of return ! should be able to sell for ~$1.5 million after 5 years. That would make it worthwhile. Of course, if things go the way they normally do for me ! may end up selling for $400k so ! could keep paying for it even after !'m no longer getting rent That would suck.














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