Hard at Work on House #9

House #9 (the blue one with the fireplace)

On Monday afternoon I closed on my 9th property.  Since then I've been there every morning getting it ready to rent.  The house is 2 bedrooms, 1 1/2 bathrooms.  I know I can rent it for $650/mo. but I am going to try for $700.

Fortunately this property isn't as ugly as some I've seen.  It still needs a lot of worth though.  About half the time this week was spent pulling up old peel-and-stick tiles in the kitchen and laundry room.  I hate those things and removing them from a concrete foundation is tough.  There is also a little rot around the back door that I need to do something about.  Besides new floors and repairing the walls there are a number of smaller improvements I am doing, from new toilets to fresh paint where needed. My goal is to have it ready to rent by the end of this month and to place a tenant within a week of listing it.

I probably won't be buying more houses any time soon.  I bought this house using 0% cash advance checks from two credit cards.  Until I pay off those debts I won't be adding to the portfolio.