The Full Story
I didn't really want to buy it. Renovations done properly are a ton of work and quite expensive. Denise tried to talk me out of it many times. So I lowballed, and negotiated during the pandemic. The seller came back with numbers that worked, and I had a vision. When I get inspired to do something, few things are able to stop me.
Plus this is the only triplex I know of in central beach zoned for short term rentals. Renting in areas designated for rentals is essential.
- I had to jump on it.
A Blank Canvas
The Hope triplex started out with a dirt lot and three aluminum porches with window shakers that couldn't possibly keep up with the lack of insulation and sheets of glass. You had to walk through a hot box to enter each unit.
Inside wasn't much better. The house was updated in the early 90s, and promptly neglected. Years of abuse from long term tenants with apathetic landlords needed to be erased. Windows did not open, and insulation was scarce.
Cheap cabinets and formica tops. Although I wasn't going to change the layout, everything needed to be gutted and replaced. It was pretty gross in here, and certainly lacked any sense of style. Many of my friends tell me to leave the homes as I bought them to increase my margins. This will simply not do.
This is where it all goes. We filled the dumpster at least a dozen times. Keep in mind the triplex has 3 full kitchens and 5 full bathrooms. Much of the drywall had to go, and all the windows, cabinets and exterior doors. Wear gloves, goggles and boots if you are ever brave enough to tear a house apart.