Our New Rental House Project! Video Walk Through!

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Hi all!

In case you missed it, Liz and I purchased a new rental house project on Thursday!

It’s definitely going to take some work:

  • wood paneling,
  • shag carpet, and
  • dog, cat, and smoke smell!

Check out the video below where I walk you through the house to get a complete view of the “before” footage!

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Housing Rental Property

Derek

AUTHOR Derek

My name is Derek, and I have my Bachelors Degree in Finance from Grand Valley State University. After graduation, I was not able to find a job that fully utilized my degree, but I still had a passion for Finance! So, I decided to focus my passion in the stock market. I studied Cash Flows, Balance Sheets, and Income Statements, put some money into the market and saw a good return on my investment. As satisfying as this was, I still felt that something was missing. I have a passion for Finance, but I also have a passion for people. If you have a willingness to learn, I will continue to teach.

11 Comments

  1. Congrats, Derek! Looking forward to seeing you go through this journey once again. It’s very helpful and inspiring.

    • Yeah! Should be fun!

  2. Let us know when you want to do MASSIVE demo day

    • Probably next weekend. The carpet is coming up, the paneling is coming down, and we’re probably taking down the ceiling too! Yeah…it IS going to be a massive demo day!

  3. Good job buddy!. My mom & her 3 sisters actually inherited 5 rental houses from my grandmother who passed away 3 years ago. Mom already talked to me about taking over her place/share since she is already retired.Im just not sure if being a landlord is for me. If you remember I have 3 businesses on my own plus a full time job not to mention my investments that I need to keep track of. It’s been a while hope you’re well 😀

    • Hi Francis. It HAS been a while! Sounds like you still have a pretty full plate. If it were me, I’d look at the earnings of all businesses – including the rental properties and try to break down the earnings by the amount of time needed for each. If you can handle them all, go for it. If not, figure out which one you have to ditch so that the rest can thrive.

      Thanks for the comment! Good to hear from you again.

  4. You know that interview you were asking before? Im going to take a month long vacation (from Everything that I do) this coming November which is my birthday month. Hope to talk to you then 😃 Love your progress man keep it up!

    • Sounds great, Francis. Can’t wait!

  5. I like the house. It’s nice that you can do a ton of work yourself. If you weren’t handy or didn’t have the time to repair it, would you have bought this house knowing you would have to rely on a contractor to do everything?

    • If we weren’t handy, the numbers would have gotten a little tighter, but only by $8,000-$10,000. It still would have made a ton of sense to buy it and fix it up to either sell it or rent it. Fortunately, we were the first ones to start bidding and the sellers were willing to work with our low numbers!! 😉


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