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My First Property

...and it's over 2,000 miles away

Next Up

3/4/2018

4 Comments

 
If you've been following along, we've got our first major problem (READ: What the F*ck?!?!). After 11 straight months of consistent rental payments and no maintenance/repair costs...BOOM! I'm finally hit with a big issue.

My First Property is officially vacant and I was never informed by my property management company. Not only that, but the place is in need of repair. Oh yeah, and the garage is not properly secure, and has a squatter living there....not cool/fun. Straight up SUCKS.

SO, it's time to take action and get this turned around.

Step 1 - GET A NEW PROPERTY MANAGER! I've interviewed a couple property management companies, spent over an hour on the phone with all of them, assessed their services, benefits, fee structures, etc and I'm close to choosing one.

*3/26/18 UPDATE - NEW PROPERTY MANAGER HIRED*

Here are my next step priorities:
1. Formalize agreement to have new property manager take over My First Property - DONE
2. Re-key front door, side door, and secure garage - DONE 3/28/18
3. Assess repairs needed and prepare scope of work - DONE 3/28/18
4. Evaluate repairs, budget, and After Repair Value - DONE 3/28/18
5. Decide to rent (preferred) or sell My First Property - DONE. I'M SELLING! (READ HERE)
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Front Door re-keyed. New lockbox.
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Garage secured with new lock. Still sketch.
As you can see, it's going to be a busy time for me. Adding a little more to my plate...I'm closing on My SECOND Property in less than two weeks.

I could easily say "I'm DONE".....crawl up and quit...but this is life...this is taking risks....and I'm pushing through...should be a crazy Spring!

Stay up to date by reading: How's it Currently Performing?

-Tyler
Next Post: It's FOR SALE
4 Comments
Millionaire Immigrant link
4/4/2018 06:07:23 pm

Hey Tyler,

First time reader here. You have a great blog. You are also on a great path with real estate. Good luck on the closing of your second property. It's sad that you had that issue with your first house, but it's just a little dent. I am impressed with the attitude that you are moving forward. I am glad I found your blog.

Reply
Tyler of Jump In Real Estate link
4/5/2018 06:20:08 pm

Hey Millionaire Immigrant!

Thanks for stopping by and reading! I appreciate your kind words! Do you own any rental property?

Let me know if you have any questions!

-Tyler

Reply
Tom
10/9/2018 03:43:52 pm

Tyler,
I really enjoy your blog. Quick question, you say garage was not properly secured, what do you mean by that? and how did you secure it?

Reply
Tyler from Jump In Real Estate link
10/10/2018 08:02:13 pm

Hi Tom!

Thanks so much for reading and following along! Someone had knocked off the lock on the side door to the garage. It was no longer secure and anyone could walk in.

Let me know if you have any other questions.

Tyler

Reply



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