10/22/2026
We purchased this dilapidated home in Grayson last year. It was occupied by a long term tenant, and in pretty bad shape. There are homes like this all over our area. Landlords purchase properties and don’t maintain them, but keep on collecting rent checks.
We did what we could to make it livable temporarily while the tenant searched for more suitable housing. These types of projects simply cannot be completed in an occupied home. Late summer the tenant was able to move and we began tackling this project.
First order of business was to remove multiple dumpsters worth of trash and debris.
Then, almost all of the floor joists had to be removed and replaced (with treated lumber, so this doesn’t happen again).
Next came a new roof.
Then plumbing and electrical.
Now we begin putting the pieces back together. Subfloor is being laid, windows are being installed, and drywall will be repaired, and then we can get to the fun stuff - interior designing.
We really enjoy buying dilapidated homes and putting in sweat equity, turning them into homes for the rental market.
It’s important that every decision and cost on this home is carefully determined, because going over budget means a higher rent price - and our goal is to be as affordable as possible.
Our projects aren’t quick, we often have to pull off projects to maintain our other rental properties. We do most of our work ourselves with a couple of great sub contractors, and financially that’s the only way we can make these investments make sense.
Follow along as we see if we can add more rental housing to the market while still maintaining cash flow.
