We are moving forward on the Meadow Arbor project in San Antonio. Our real estate investor friend, Frank, is serving as project manager and general contractor on this one. He happens to have been in construction before starting with investments, and lives in the area, so he’s a great choice.
After a thorough inspection of the property, Frank and Lee made a plan for getting the house ready to rent. The house has good bones and is not trashed; it was just a bit of a mess when the team first looked at it.
The work and that’s going well, other than the inevitable “discoveries” you make in a rehab project! First we had to convince the utilities to let us turn them on without Lee making a personal appearance. Frank persevered. We now have power and water and all those useful things.
Then he went into the house and looked it over, now that most of the junk from the previous tenants is gone. He discovered that the cabinets we thought would hold up for another couple of years as a rental would actually NOT hold up. That was proven when one of his subcontractors opened a drawer and the front fell off. So, off we’ll go to get some nice builder-grade cabinets!
Our mentor from the Big Dog program, Tommy, happened to be in the neighborhood, so he took a look at it, too, and thought it was probably a good buy. It helps to have that validation from experienced investors. We will miss our monthly calls with Tommy, and want to wish him and Jana well in his big project, which should be done pretty soon, too!
The good news is that this property won’t be too hard to get into good shape, so look for just a few more updates on this one. We have our fingers crossed!