Don’t Throw it Out!

When one of my tenants moved out of my Indianapolis rental property — it was a bad scenario — he left a filthy apartment behind, including a grease-caked stove top. My handyman suggested I throw it out, but I knew I could save it. Here’s what it looked like half-way through the clean-up:

IMG_2197[1]My handyman was astounded! LOL

Here’s what I used to produce this miracle result: the day I went in there (after the eviction and after the judge had ordered my tenant out) I sprayed the entire stove top with Easy Off (fume free) over cleaner. I also sprayed the outside of the refrigerator with it.

I then proceeded on to some other tasks … painting, small repairs, etc. I didn’t touch the stove again that day.

When I returned the following morning, I sprayed the entire stove top with my trusted Krud Kutter and got to work. I used a flexible, 2″ putty knife. All of that crusted-on grease came right off … no scrubbing! Afterwards, I used a Scotch Brite (dark green) scrub pad to get the remainder and voila!

I get my used appliances cheaply, about $160 for a stove like this. But why spend that money when you don’t have to?

Investing in real estate is an income-producing journey. If I can put more money in my pocket by contributing a little sweat equity, I’ll do it!

Onward and upward …. 🙂

Success Story

Meet Jesus, Hilda and their family … when they first rented from me, their oldest daughter, Karina, was an infant.

photo 1They were wonderful tenants and fantastic people.  Kind, hard-working, excellent parents.  Jesus approached me in 2004 about purchasing the double in which they lived.  (His sister and her son lived in the other apartment in the duplex.)

I set it up as a land contract and charged him 50K for the home.  (I’d bought it for 20K, did 15K of repairs/updates before renting it out.)  I continued to carry the insurance and property taxes, but I passed these expenses on to Jesus, by adding those amounts into his monthly payment, and also charging him 9% interest.  He gave me 7K down, and paid on time every month.

Within seven+ years, he became the proud owner of that home.  Throughout those years, he also improved the property, inside and out.  Here are a couple of before and after pictures:

#22, Ch12photo 2I’ve been invited to their children’s confirmations, graduations, etc., and every time I stop by, Hilda is offering me some kind of delicious Mexican concoction she has whipped up that day.

Throughout my real estate investing journey, I’ve forged relationships that will last a lifetime.  This is just one of many examples.  Although there are plenty of scammers out there, this family and other tenants like them more than make up for the “rotten apples.”  They’ve enriched my real estate investing experience more than they can ever know.

Income is essential, of course, but these relationships are truly the icing on the cake!  🙂