Thursday, April 24, 2008

Hooray - Full House

Mr. Sam has rented the crack shack before the first of the month. We are back up to full house with tenants in all our rental units. Hooray!!

Mr. Sam is in charge of screening and approving tenants (although I could veto if I felt strongly enough) and it was his call to rent the crack shack to a felon. We have, however, rented this unit to others with a criminal background. We'll see how it goes with this guy and his girlfriend. We hope his criminal indiscretions were limited to his youth and now that he has a couple of kids he has put that type of behavior behind him.

It has been an expensive couple of months. Besides the monthly carrying costs (mortgage, monthly insurance and real estate tax costs) Mr. Sam has done a lot of work on the property including new laminate flooring in the 3 bedrooms and entry way, new tile in the kitchen and a complete gut and redo of the bathroom. We also refreshed the landscaping at the house. I don't have the total we spent because I have not done my Quicken numbers from March or April (need to get that done this weekend) but I would estimate at least $2000 plus @ $2000 in carry costs.

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