March 14, 2010

My Investment Townhouse is Ready

My townhome in Woodstock is ready for the tenants who are moving in tomorrow. Today we got the downstairs floors looking spiffy, and just about everything else was done last week.
It's the first time since last spring that we've felt we can relax as far as our properties being fixed up. A year ago my tenant in Northern Virginia lost his job and stopped paying his rent. When he moved out, I decided to sell that house and buy one closer to where we live now. Unfortunately there was a lot of work to do on that house, and even though we found good contractors, we had to make several trips down there to arrange things. By the time that was ready to sell, Frank had a house come vacant near mine and decided to sell it too. His did not need as much work as mine, but it took time because it was also two hours from home. Eventually both houses sold.

We bought the lake house as a replacement for his and it needed repairs and remodeling. Before we finished it, I closed on the townhouse (a foreclosure) and started getting repairs done. Finally both are ready for renters, and as some sort of grand finale, both have tenants moving in tomorrow.

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