Wednesday, September 14, 2005
How I got free rent for a year
Ok, those of you that know me Probably know where I live in Florence. I live in a medium sized duplex in "historic" downtown. I moved into the house back at the first of February this year. The house in owned by the father of a friend of mine who lives down in Pelham, AL. Joe Paul purchased the house several years ago when his son was attending UNA. He bought the house because it was already converted to a duplex so his one could live on one side of the house and he could rent out the other side of the house to help pay for it. Now, when I moved in the small side of the house was occupied, but the larger side of the house was a DUMP! The floor in the kitchen as well as the bathroom were rotted out, the carpet was nasty green industrial burber carpet, and there was a good bit of mildew on the kitchen walls thanks to the moisture from the water-logged floor. It needed some work, to say the least.
Well, the deal was that if I moved in and got people to fix that side of the house up that I would get free rent for a few months. Well, being the "hady man" that I am ( with a little help from my dad and paw-paw ) I proceeded to do all the necessary work myself, thus saving Joe Paul a few thousand dollars in contractorial fees and lobor expenses. Joe Paul paid for most of the materials needed, as well as new carpet and linoleum flooring. We renegotiated our agreement to allow me to stay in the house until August or so... about 6 months of free rent.
Since that point I have personnally put about 600-700 dollars of my own money into misc. materials such as light fixtures, paint, and cabinet hardware, thus completing a full renovation of the interior of the house, as well as doing some minor exterior refurbishing ( ie: painting ). Joe Paul, in addition to being willing to repay me for my expenses, has offered me another deal that would result in my having stayed at this house for one full year rent free: doing a quick renovation of the smaller side of the house in exchange for another 6 months worth of rent! All I have to do on the smaller side is have new carpet installed as well as contracting new linoleum flooring for the kitchen and bathroom and having a small leak in the bathroom ceiling repaired.
By the time that I am finished I will have a very nice and comfortable place to live complete with new paint and flooring, stylish recessed and track lighting, new ceiling fans, plenty of room for me to live alone in peace and quiet without a roomate, and ( soon to be ) renovated exterior... for free!
Of course, I've out in a lot of time and effort into this house. All that painting, and pressure washing, and cleaning, and floor repair, and cabinet refinishing, and wiring took up a lot of evenings that I would rather have spent with friends or doing other things, but I wanted to do a thorough job redoing this house and making the deal worth-while for the owner.
Rent at 325 per month x 12 months = $3900.
Floor repair estimates for my labor = $2000.
Painting estimates for my labor = $1200.
Electrical work for my labor = $500.
Misc contractual estimates for labor and time = $2000.
Total = $5700.
$5700 - $3900 = $1800.
Joe Paul is up approximately 1800 from my expenses PLUS his house ( which he was previously unable to sell ) will be worth several thousand dollars more once renovations are complete. I've done every job as well as I personally am able with my somewhat limited contractual experience because I know that if I was in Joe Paul's position that I would want my tenant to do the same for me.
My conclusion to this Blog: It is very possible for someone who is willing to work and come through in their obligations to be blessed by God. I needed a place to stay for as cheap as possible while I am in my low-paying lawfirm job, and He's provided for me. Aint God Great!?!?
Well, the deal was that if I moved in and got people to fix that side of the house up that I would get free rent for a few months. Well, being the "hady man" that I am ( with a little help from my dad and paw-paw ) I proceeded to do all the necessary work myself, thus saving Joe Paul a few thousand dollars in contractorial fees and lobor expenses. Joe Paul paid for most of the materials needed, as well as new carpet and linoleum flooring. We renegotiated our agreement to allow me to stay in the house until August or so... about 6 months of free rent.
Since that point I have personnally put about 600-700 dollars of my own money into misc. materials such as light fixtures, paint, and cabinet hardware, thus completing a full renovation of the interior of the house, as well as doing some minor exterior refurbishing ( ie: painting ). Joe Paul, in addition to being willing to repay me for my expenses, has offered me another deal that would result in my having stayed at this house for one full year rent free: doing a quick renovation of the smaller side of the house in exchange for another 6 months worth of rent! All I have to do on the smaller side is have new carpet installed as well as contracting new linoleum flooring for the kitchen and bathroom and having a small leak in the bathroom ceiling repaired.
By the time that I am finished I will have a very nice and comfortable place to live complete with new paint and flooring, stylish recessed and track lighting, new ceiling fans, plenty of room for me to live alone in peace and quiet without a roomate, and ( soon to be ) renovated exterior... for free!
Of course, I've out in a lot of time and effort into this house. All that painting, and pressure washing, and cleaning, and floor repair, and cabinet refinishing, and wiring took up a lot of evenings that I would rather have spent with friends or doing other things, but I wanted to do a thorough job redoing this house and making the deal worth-while for the owner.
Rent at 325 per month x 12 months = $3900.
Floor repair estimates for my labor = $2000.
Painting estimates for my labor = $1200.
Electrical work for my labor = $500.
Misc contractual estimates for labor and time = $2000.
Total = $5700.
$5700 - $3900 = $1800.
Joe Paul is up approximately 1800 from my expenses PLUS his house ( which he was previously unable to sell ) will be worth several thousand dollars more once renovations are complete. I've done every job as well as I personally am able with my somewhat limited contractual experience because I know that if I was in Joe Paul's position that I would want my tenant to do the same for me.
My conclusion to this Blog: It is very possible for someone who is willing to work and come through in their obligations to be blessed by God. I needed a place to stay for as cheap as possible while I am in my low-paying lawfirm job, and He's provided for me. Aint God Great!?!?
# posted by Bo : 2:48 PM
