It’s Monday, October 19, and it’s been a while since I’ve updated, so I’m going to try to catch up on everything.<\/p>\n\n\n\n
Apopka Rental Property<\/strong><\/p>\n\n\n\n Last Tuesday, the AC at my Apopka rental property went out, so I had to call my AC technician to have it replaced the following day. That ended up costing me $5,500, which is terrible timing considering how much money I’m already spending on this house. Between the roof replacement at $10,000 and the drainage system at $3,000, I’m looking at approximately $18,500 in repairs, and that’s before accounting for any additional expenses that might come up.<\/p>\n\n\n\n At this rate, I’m about to blow through practically all the money in my savings account just fixing this property. To make matters worse, I currently have a vacant room that I can’t rent out until the repairs are completed. That’s another $900 a month in lost rental income, while I’m still responsible for covering the utilities and other expenses associated with the property. Between the repairs and the vacancy, this house is really draining my finances right now.<\/p>\n\n\n\n The AC was approximately 23 years old, so I knew it was only a matter of time before it needed to be replaced. I was just hoping I could squeeze another year out of it and deal with that expense sometime next year. Unfortunately, it decided to go out right in the middle of everything else. Of course, with my luck, all these expenses seem to happen at the same time. At least the AC has now been replaced, so that’s one less thing I have to worry about.<\/p>\n\n\n\n I also wanted to have my AC technician install a smart thermostat that I purchased for the property. The idea is to be able to monitor and adjust the temperature remotely from my phone. The tenants have a tendency to lower the AC and leave it running at those temperatures all day, even when nobody is home. With a smart thermostat, I could manage the settings myself and hopefully reduce some of the unnecessary electricity usage.<\/p>\n\n\n\n The problem is that I can’t find the thermostat. I think I left it in my car, which is currently at the mechanic’s house. Once that car is fixed, I’ll go over there and look for it. If I find it, I’ll give it to my AC technician and see if he can get it working. I suspect one of the wires may need to be replaced because I was having trouble getting the thermostat to work previously.<\/p>\n\n\n\n Roof and Drainage Repairs<\/strong><\/p>\n\n\n\n I’ve also started making payments toward the other major repairs. I paid the roofer a $5,000 deposit to get the roof replacement started, and I paid another contractor a $1,500 deposit for the drainage system.<\/p>\n\n\n\n The roofer told me he would begin early this week, but I haven’t heard from him yet. Since today is Monday, I’ll need to follow up with him and confirm when he plans to start.<\/p>\n\n\n\n The contractor handling the drainage system told me that I’m next on his list. I told him that hopefully we can get started next week, but that depends on when the roof is finished. I need the roof completed first, followed by the drainage system and the repairs to the vacant room. I believe the drainage contractor will also be handling most of the work needed to get that room back into rentable condition.<\/p>\n\n\n\n Right now, everything is dependent on getting the roof finished so the other work can move forward. The longer these projects take, the longer that room sits vacant and the more money I lose. I’ve already committed $6,500 in deposits, spent another $5,500 replacing the AC, and still have the remaining balances to pay once the projects are completed.<\/p>\n\n\n\n I’m hoping to get all of this finished as soon as possible so I can get the room rented again and stop bleeding money on this property.<\/p>\n","protected":false},"excerpt":{"rendered":" It’s Monday, October 19, and it’s been a while since I’ve updated, so I’m going to try to catch up on everything. Apopka Rental Property Last Tuesday, the AC at my Apopka rental property went out, so I had to call my AC technician to have it replaced the following day. That ended up costing … Read more<\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"footnotes":""},"categories":[1],"tags":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/posts\/458"}],"collection":[{"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/comments?post=458"}],"version-history":[{"count":1,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/posts\/458\/revisions"}],"predecessor-version":[{"id":459,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/posts\/458\/revisions\/459"}],"wp:attachment":[{"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/media?parent=458"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/categories?post=458"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/milliondollardiary.com\/index.php\/wp-json\/wp\/v2\/tags?post=458"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}