Last To Post Game- Take 10 (Action!)- Shameless Posting Continues!

[DisneyFirefly]

I'm just watching a movie at work It's a quiet night, since it's Sunday. I hope whoever you showed the apartment to rents it! That would be awesome!

I hope you guys get to buy into VGC I'd love to buy into DVC, but I don't see it happening for a very long time, if ever.

You should take pictures when the renovation's done to show us! I love looking at pictures of apartments I can never afford

 

[franandaj]

We already own 165 pts at VGC, but we're waiting on another 125. Plus I want to buy at VWL and BCV, but I have to wait for the big loan to come through. This loan agent seems to think we have enough equity to qualify for loans, we just don't have any money, if that makes sense. I never understood when her mother used to say that you can't buy a loaf of break with equity, and now I am living that hell!

Thank god this guy has found us immediate cash, and then will find us more cash later. In the meantime we have people bashing out counters and all kinds of things rebuilding bathrooms, it will take 1 year of renting the place to make back the money we are putting into it, but since the last time a lease was signed on it was 21 years ago, I suppose updating is required. At least we can advertise it as "completely remodeled" It will have Granite countertops in the kitchen and bathrooms, and tile floors, plus all new appliances, new carpeting and everything. If we could rent the other apartment that would be awesome, it is even more custom than this one that we are working on....patio, hardwood floors, stained glass inset panels on all the interior doors...it's a really awesome place.

It would be so cool to rent the one that is up on the market and only have the one in our building up for rent. We have to tent the place and clean up the patio before we can put this one up for rent, so it will be a month or so before we put a "For Rent" sign up, but it would be really nice that this would be the only one we were working with!

 

[DisneyFirefly]

I'm sure things will work out with the DVC loan

How many apartments do you guys own again? Aside from the ones you live in? About how much have you put into the renovations for the gut rehab one?

 

[franandaj]

With the risk of putting too much financial info out here...I'll be a little cryptic. The "mini" loan is for 50 jellybeans, and the rehab of the apartment is just shy of 10 jellybeans. However, that doesn't include a bunch of stuff that we have contract on later. That includes painting, putting a shower in where there was just a tub, tiling floors in the kitchen and bathrooms, and some other stuff that escapes me. We will have to agree on other things that have come up since then, plus carpeting from Home Depot is at least 1.6 jellybeans. If the contractor can come up with something better then cool. Bascially this is costing us a H*** of a lot of money, and once we find a tenant it will be a long time until we get the money back. However, it's been a year since there has been a tenant in there, so it's been that long that we have not seen ANY money on this unit. I guess any money is better than none. It also means we need to clean up the exterior becuase we need to make the laundry room available to them. However, I plan to cost it out that it would be better to go to the place on the corner than use our facilities. If the corner unit charges $1.25 per load, you need to pay us $3.00 per load, and I will hear your laundry so don't think about fudging it!

Ugh, it's been so long since we've had a real tenant in this building, I'm not sure what I'm going to do. But first we have to get through the rennovation and then then the tenting. Then we put it on the market!

 

[DisneyFirefly]

Oh, I didn't mean to get overly personal, I was just curious You're the only person I know who owns rental properties, so I'm just curious about the whole thing, I guess

That's a lot of money, though... I hope you guys can rent it out and make that back

 

[franandaj]

Hey I don't mind sharing. I'm relatively new to this whole process, though Fran and I have been together for 13 years it wasn't until after her mother died (2006) that I started to have any involvement in the properties. Since then it's sort of been a crash course. Her father wouldn't let us have anything to do with the "La Pasada" building and until he went totally nuts and we had to take the car away we knew nothing about it.

Imagine me having rented out most of the units that went vacant while he was crazy and one says, "Our power just went out." I went out to find that they didn't even have circuit breakers in that building. They still had fuses. We got her a motel for the night and I met Daivd the electrician who has saved my butt on numerous occasions! He came out the next day and diagnosed the problem, fixed it and had her back in the apt the next night. Since then he replaced all the fuse boxes in that building and has saved my *** on several occasions. But we have had so many situations like this because her father fixed everything with bubble gum and stupid stuff.

But we have had so many problems because of his WWII mentality of if you can fix it with what you have, why buy anthing new? We had a sprinkler guy out there who said that he used telephone wire for the sprinkler electrical connections. Give me a break? We have so much that will need to be fixed that we don't even know about it's crazy!

I better feed the kids and go to bed. Fran has already gone over to #2 and is probably wondering where I am....

 

[DisneyFirefly]

The part about fixing it with what you have and not buying anything new sounds just like my dad Other than that, that had to be difficult I'm glad it worked out for the best, though, even if you had to have a crash course in it

Go on and get to sleep! Have a great night!

 

[PrincessInOz]

It looks like things are working out for you Alison. I'm glad.

 

[DisneyFirefly]

Hi, Sharon!

 

[PrincessInOz]

I'm trying to work up the motivation to go get weighed in tonight....

 

[DisneyFirefly]

I'm just watching a movie and trying not to fall asleep again tonight. I've been working on a 20oz bottle of Coke for about 5 hours.

 

[PrincessInOz]

I've got to go organise dinner. Pumpkin soup for dinner tonight with crusty rolls. Catch you later.....when it is my turn to fall asleep

 

[DisneyFirefly]

Yum! I think I'm going to make pumpkin pie this weekend. See you later!

 

[franandaj]

I'm heading off to sleep in Apt2 which is underneath the apt where the are doing all the rehab. So even though it's midnight, I'll probably be up early due to all the hammering and other garbage!

Thanks for all your nice thoughts. I'll post final photos of the apartment in LTP11 for y'all to see because it should be *spectacular* at least for whe we are paying! I hope I'm around for the closure but with the way y'all are going we'll see!

 

[DisneyFirefly]

I'm sure you'll be around for the closure We still have another 10 pages left

 

[franandaj]

I've got to go organise dinner. Pumpkin soup for dinner tonight with crusty rolls. Catch you later.....when it is my turn to fall asleep

We had Turkey Egg Foo Young which is a totally American Chinese Dish. I was going to ask do you folks even know about Egg Foo Young there in Australia or is that only a US kind of thing? I think your DH might like it when made with shrimp....

OK now I'm LTP!

 

[DisneyFirefly]

Now I'm last!

 

[franandaj]

On the last LTP I think we closed 20 pages within about 4-5 hours...I joined in when it was on the closing, but I don't remember how long. i remember Ness took a break and we went 6 pages, the last one was pretty butal. I think we've all mellowed a little.....

 

[DisneyFirefly]

I think part of it, too, is that a good portion of us aren't on for long periods anymore. Ruthie's been MIA for a bit, Ness has been MIA, and Kim is working again. It's really just you, me, and Sharon that are on here most of the time, I've noticed.

 

[franandaj]

I think you'll win again, you seem to be online the most...I have to go to bed otherwise the nightmare I had last night where Fran left me might come true! I better go to bed, and we're sleeping in the other apartment! Good night!