My investment partners and I got the keys on Friday night and wasted little time in getting to work on Rental Property SH #2. Similar to our last side hustle, this Bay Area property was acquired essentially turnkey (rent-ready), and needed very minimal work put in. It’s also located in a fabulous neighborhood, and we are hoping the combination of the two (quality and location) will help us achieve some high rent. Fingers crossed!
This property is a 3/2 townhouse. Here are some pics I snapped up from earlier on Sunday morning.
I’m not a handyman, but if I can do my part in helping get the place as rent-ready as possible, I’m more than willing. Just like with the last property, I swapped in a few CHEAP items, which will help the place stage better during open houses.
- Installed GFCI outlets in kitchen and bathrooms.
- Installed new door knobs and locks.
- Installed new door stoppers on each door.
And that’s pretty much all the work that was needed to be done! Hard to believe, right? My partners and I were pretty surprised ourselves, since we were anticipating needing to put in more: time, money, and elbow grease towards the rehab… I guess our recollection of the open house was not very good, since the place was acquired in much better condition than we had all remembered.
So, the next step is to aggressively start marketing this unit. The first mortgage payment isn’t due until November 01, but of course we would all LOVE to have a tenant moved in as soon as possible. Hopefully, before the first of October.
Speaking of which, we still haven’t secured a tenant for Side Hustle #1… SH #1 is undergoing rehab at the moment (new laminate floors, new paint, etc.), but we are running out of time before the first of next month…
I start a new job in another week, but these properties are sure keeping me busy!