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.

Wake up

Click on the link and put in 1102 and Colorado to see pictures of the inside of the 2 bedroom apartment. ! got up this morning, had breakfast then went back to bed. ! need a lot more rest than ! manage to get. So once ! finally get to sleep the phone rings. #1's toilet and tub are backed up and there is a pool in the basement. No relaxing for me. There was indeed a pool in the basement and a pool in her bathroom. The plumbers came out and did their thing. You know how plumbers are about working on weekends. !'m still waiting to hear back how many weeks !'m going to have to work to pay this off. ! did some calculations. IF (in really big letters) all the apartments were rented all year and no repairs or other expenses came up ! would clear just over $100/month. Taxes and insurance are $500/month. ! pay nearly $100/month just on advertising in the paper w/vacancies and of course no rent from them. That means ! have to work another job to provide a place for them to live plus pay for their repairs before ! can spend anything on myself. Basically !'m paying a few $hundred every month to work a part time job. If ! manage a big gain when ! sell it in 2 years it will be worth it. The last owner bought for $400k and sold for $700k after 4 years. All w/out fixing anything. The same rate of return would get me about $1.4 million. that would be nice after all the improvements and repairs !'ve made. ! still don't understand why some people can put no effort into a project and profit mightily while ! bust my ass and spend a bunch of money and go backwards. One day....