After pussy-footing (I do not think that is derogatory at all, an actual reference to cat’s light footfalls, right?) around for years now (since 2012), I have finally bought a rental unit building.
I dropped $30,000 at closing and now, she’s all mine, warts and all.
Built in 1800 something, the building was originally a hotel. Some of the original doors still have numbers on them and the bedrooms on the second floor have the tell tale transom windows of a hotel room.
I also found out that this building was the only one left standing after a fire in a different small town up the road. Afterwards, the building was moved kit and caboodle with horses???
The second floor unit is a 2 bedroom 1 bath with a dining room and a large living room overlooking the ‘downtown‘. The dining room has a sweet built in;
The living room has a nice high ceiling, and obsolete radiator system that I think looks neat and good refinished wood floors.
Also a pair of non-too-fancy bedrooms;
A laundry room. Since my sister-n-law will live here, we got her a washer/dryer set as a housewarming present. $100 bucks for the set b/c they are almond colored and from the 1980’s. BUT these models are likely last another 20 years with the occasional belt changes. I find modern appliances to be a rip-off. My last repair guy said that I should just hope to get 7 years out of a ‘new appliance’ and then go buy another one. Such modern pessimism.
This room will need some work. The prior tenant had kids and let the floor flood often. There is some soft/squishy subfloor up against the tub. I will likely have to replace the subfloor, but armed with my new found YouTube knowledge, I am ready to try that myself.
The Kitchen went through a recent remodel and is looking good. Only flaw is if you set a ball on the floor it would take off at an alarming speed toward the sink. What can you say, old building tend to settle.
The first floor has a tenant living there already so it is less presentable in picture form. Just know this. The layout is odd and chopped up. It is a 3 bedroom 1 and 1/2 bath. They have lived there 2 years already and I not inclined to rock the boat.
When they do leave, I will do some semi-serious remodeling to open up the floor plan and bring the unit up to date.
But all in all, I am very happy.
More from the Rental Property series;