This week, I was doing an inspection of a 4plex for an out-of-state investor that is looking to purchase some rental units in the Meridian or Caldwell areas. With the Idaho prices down and the Boise valley rental demand heating up, his spread sheet calculations found it is a good time to buy. So I was making note of the condition, taking photos and trying to provide a complete picture of the property for him. In looking at the units I found it curious in looking at the utility area, that the wall between the two main level units had a hole punched clear through.
In visiting with the property manager I found out the reason. The previous tenant had his power shut off due to lack of payment, the adjoining unit was empty but the power was on. So yup, you guessed it, he broke through the wall to steal power from the other unit. And as a parting bonus he stole all the appliances from both units!Rentals can be great investments, and now is a real good time to consider them, but being a landlord is not for the faint of heart.
Perfect posting, I truly look forward to up-dates of your stuff.
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