It Ain't Always Grits And Gravy
2 weeks ago I had a renter (actually at one time a T/B) that I had to evict. Rather than evict an old crippled lady, I rented her a uhaul and two stron guy and moved her. Then I decided to reroof, gutter, paint and carpet the place.Well the roof leaks, the roffers didn't know how to roof, got another contractor and lo and behold there's t locks over slate. Now, instead of a re roof, it's tearoff, plywood and more time. Plus, no income. What was going to be about 2k has turned into 6k. So be careful out there. Sometimes these things bite back hard.
[addsig]
I would have to vouch for that as well. Worse case scenarios do happen.
Purchased a quadraplex, had to evict 3 of the 4 tenants and the forth moved out on her own.
That is unfortunate..
The roofer should have noticed that there was something wrong with the substrate.
BUt as you said he didn't know how to roof.
This is why I think it doesn't always pay to go with the cheapest guy out there (I have fought the tendency many times with car repairs).
Get an honest contractor and you will be money ahead in the end not paying twice for one job.
[addsig]
Guys,
Sorry to hear about your mis-fortunes. I know you guys will bounce. I have been there and done that, got the t-shirt!!LOL
Prosperous investing,
td
Hey, I think that these kinds of things separate the men from the boys (ahem, those who do REI from those who don't).
The very first tenet I had, I evicted 4 months later. The brand new carpet looked like a coloring book and the freshly painted walls scuffed beyond belief. After half evicting them one month and then finally evicting them the next, we sent them a friendly letter that they forfeited the deposit when they broke the contract, reguardless that they owed me back rent.
After applying the deposit to repairs they owed us $500. As you probably have guessed we got an earful of cussing when they got the bill. They actually thought that we were going to refund their deposit!!
Anyway. 5 units later we are still in the game. We are currently at 100% occupancy $600+/mo CFP our mortgage included . Looking back, there were times when I wanted to give up. Sweating bullets and wearing knee-holes at my bedside is no way to live. But only those who finish the race qualify for the prize.
Keep running![ Edited by SavvyYoungster on Date 09/03/2003 ]