My latest challenge

[BigAl]

Finishing up the last few details on sheetrock repair before painting the Laundry Mat . Should be picking up the new flooring this weekend .

Ordered the new Laundry baskets for the customers . Almost a $100 a piece !!!! Ouch .
New Dollar bill change machine is ordered $$$$$$ BIG OUCH !

Set the price at $650 for a single Furnished Apartment and $750 for a furnished 2 bedroom apartment .

 

[muleman]

Hurry up! That greenhouse needs started soon.

 

[BigAl]

Hurry up! That greenhouse needs started soon.

Yea I know . I did pick up two more 4x7 patio doors for the green house . That should be all the glass I need .

Off to town in the morning for flooring and then its cleaning the laundry mat real good and installing the new floors and counter tops next week .

I do think about Friday of next week the Laundrymat will be open for bussiness .

Since i bought the building about 4 other people have decided they also want to try and put up some apartments . I still think I am in the drivers seat as I can actually show possible tenents what they will be renting . There is nothing remotely close to the quality and price of my units . The units I have built are upper high end units and there is nothing in the county that comes close . The others are just a bunch of trailers, and run down buildings . Time will tell .

 

[BigAl]

Went to the big city today getting supplies and stopped by a couple of Laundrtmats to take a look at how they are set up .

OH MY GOD !!
They were disgusting . Dirty beyond belief . Half the machines were broken and there was no where to sit . I would not wash a dog in those places . I hope that is not the normal for most of them . I plan on keeping my place super neat and clean. You cannot make money with broken machines .

 

[BigAl]

Gettin pretty damn close to opening the first phase of the new business . I am down to installing the new floor .

I am pretty much burned out from doing this part and am more than ready to make a change and go upstairs and start the last two units . When the freezing weather finally breaks I am going to try and reside and reroof the exterior .

 

[BigAl]

Waiting on a new 24volt transformer for the pay showers .

It has turned miserable cold here and there is no way anything can be done outside until it warms up and the ground thaws out . I need to install concrete footing for the new covered deck across the front of the building and that will not happen until it warms up and the backhoe can break through the frozen ground .

I think I'll redirect my attention at taping and texturing the sheetrock in the two lower units . At least I should be warm .

Sitting at about $35000 invested in materials so far . I may go over the original total remodel projection cost of $50,000 . My labor is free .
But in defense of the overage cost ,I have upgraded quite a bit more than i planned on doing at the start .
I still believe firmly that the new venture will return a mimium of 1% plus a month on the total investment . I'll take 12% a year anyday on my investment .

 

[grizzer]

Remember to setup separate depreciation schedules so you don't have to wait all 39.5 years to recover your money.

 

[BigAl]

Remember to setup separate depreciation schedules so you don't have to wait all 39.5 years to recover your money.

No, I think this investment will work pretty well .
Its more for my wife than myself . She 10 years younger and I would like to give her ,her own nice little investment to depend on after I kick the bucket .

I think done correctly this will be a cash cow for her . I should know by this time next year if it all goes as planned .

This will be my last big project . After this I will be spending more time in Panama at the island house .

 

[BigAl]

The new floor will be done tomorrow !
Still waiting on the backordered 24 volt shower transformer for the Pay showers to show up .
Should have some nice pictures to post up in the next couple of days of the Remodeled Laundymat .
Had the U.S. Forest Service stop by and ask if I was interested in taking on a Laundry cleaning Contract with them when they go on Fires in our area . This happens many times(weekly) each fire season as we have 2.3 million acres of Wilderness area around our little town to protect .WE have a very large Fire Fighter base here .
Going to have to give that some thought as it would take all of my machines to keep up with "their" ( Forest Service) demand and leave nothing for the local community to use .

 

[muleman]

Fire fighter gear is heavy and hard on machines. Better have some real heavy duty dryers (gas fired).

 

[BigAl]

Fire fighter gear is heavy and hard on machines. Better have some real heavy duty dryers (gas fired).

Yep , That is what I have .Commercial gas Speed Queens .

The old owner use to do the contract with the forestry but I ain't sure I want to put staff on to do that . They would have to make it well worth my time .

 

[BigAl]

Well,,,,,,,,, It looks like tomorrow we open the luandry mat for business . Today will be spent adding a few finishing touches . Smoke detectors , rugs, stocking the vending machine ,installing signs and such . I'll grab a couple pictures to share

 

[BigAl]

Camera batteries are dead !!! So no pictures yet !


Well...... We are open but people are not breaking down the door yet to do business . I believe it will take a few weeks for people to start using the new place .

Apartment #1 is almost ready for interior paint . I will spray the new texture on Tuesday and start painting it on Wednesday. I figure cabinets ,tile work , new hard wood floors and the rest of the finish work should be completed in about 2 weeks .

I used "Tyvek Housewrap" under the new sheetrock inside and under the new siding outside ,besides the R-19 insulation in the walls . MAN!!!! Does that place stay warm for very little propane.

 

[BigAl]

After 3 months of working on the building the State Inspector finally decides to stop by and see what I am doing , I sit right on the street corner and have never tried to hide the fact at I am doing a total remodel . No Problems and I am not require to get any permits .

He did ask if I was a Electical Contractor to which I stated that I hold a General Building and a General Engineering license and I am not require to have one as long as I am doing more than 3 trades on the building remodel . That threw him for a loop and I could tell he was confused . He finally said to have the local Electrical Contractor stop by and inspect my work ?????
Oh well , I could have been worst I guess ....

Apartment #1 should be done in two weeks .

 

[muleman]

Were the lights still flickering when he was there?

 

[BigAl]

Were the lights still flickering when he was there?

No , Thank God !

My building is the most "up to date code legal" building in the whole damn town . There is not another building even close to the standards my building is remodeled under . I even put in stuff that Idaho does not even require yet .

Oh well..... maybe i'll just go down and pay the $25 bucks to get a Electrical License . The real joke is there is NO test for this license in Idaho , walk in and pick it up ...????GEEZ!!! Even a "Cave Man" could do it !
I have forgotten more than most of these "So Called " State licensed Electricians guys know .

 

[BigAl]

All painted out in #1 apartment , light fixtures installed , windows are trimed out , 1/2 of all the plugs & switched are installed . Tomorrow I get to have fun !!!I'll start cabinets in the morning !

 

[BigAl]

Here's a really bad picture of the old laundromat when I bought it and the newly remodel complex as it is now !

Quite a change !!!

 

[BigAl]

Cabinet bases and uppers are built and installed. Tile counter tops are installed . The new Cherry floors are finished and i'll start making floor base on Monday . Also got all the interior doors installed , so apartment #1 should be done this coming week.

Had a little set back as the old roof on the second floor leak and seeped through to the ceiling in the bedroom . About 2 days of work to repair .
So far remodel cost are pretty much in line with my estimates .

The laundromat is starting to see a increase in business , but it still has a long ways to go to break even on daily expenses.

 

[BigAl]

Well... another set back .
My wife was helping me saw and plane Pine floor base and took a bad fall. There is ice everywhere outside and before I knew what happened she was holding her wrist and flat on her back . I don't think it is broken but she is out of commission for a few days .
I told her that as soon as I finish the building remodel we will switch and make Panama our permanent home in the winter months and the Idaho ranch only in the Summer time .
In a few minutes I am going to make a phone call and offer a good friend a job managing my affairs up here .

I think I better just stay retired and enjoy life with my lovely wife .Nothing is more important then her safety and happiness .
A bad fall and a busted hip could change everything for me , so why take a chance when I don't have to . Besides Panama is so warm right now

 

[muleman]

Are you sure you were not the one who fell? Sounds like something knocked some sense into you.

 

[rlk]

Besides Panama is so warm right now

March 8th my better half and I are taking a cruise through the Panama Canal. I'll let you know how warm it is/was.

Bob

 

[Doc]

I think I better just stay retired and enjoy life with my lovely wife .Nothing is more important then her safety and happiness .
A bad fall and a busted hip could change everything for me , so why take a chance when I don't have to . Besides Panama is so warm right now

This is not Dr. Rum talking is it?
You sure are making sense to me. Hate to see you let that beautiful place in Panama just sit there while you freeze your behind off building a laundry mat or whatever. In the long run I do think you'll be glad you did not get that bar project. A blessing in disguise if you ask me.
Now pack up the grass skirts and head south.

 

[BigAl]

This is not Dr. Rum talking is it?
You sure are making sense to me. Hate to see you let that beautiful place in Panama just sit there while you freeze your behind off building a laundry mat or whatever. In the long run I do think you'll be glad you did not get that bar project. A blessing in disguise if you ask me.
Now pack up the grass skirts and head south.

I may still be in the running on the Bar . The new owner have 60 days to come up with the money . Did I mention that she does not have a job ?? How does that work ??

 

[BigAl]

The #1 apartment should be done but i am suffering from a bad case of "Remodel Burn out".
I have about 4 hours left to finish everything to call it done . Decided to just take the weekend off and take a nap .

Woke up and the wife said we had "NO Water" !!! So much for relaxing the rest of the day . Turned out we had a bad pressure switch . A good kick got it working again . Now I have a sore foot ....

 

[muleman]

Take a nail file and clean the contacts in the switch. While you are at it do your feet also.

 

[BigAl]

Why is it always the little fickin details that take so long to get done ?? I should have been done 2 weeks ago on apartment#1 but everytime I turn around it seems like something else takes priority . Now its snowing again so I get about 2 -3 hours a day to work after plowing snow . It rains , it snows and then the sun comes out and everything turns to mush .

This morning the tractor stared blowing black smoke and not running right
Looks like ice in the air cleaner...I hope.

Maybe tomorrow .

Heres my pick up to do list :

Tie in to the water lines.
Tie in the sewer connection
Set the refrigerator
Hook up the Kitchen sink
Hook up the Bathroom sink
Touch up paint and Stain


Not much left but I am to the point that I have "No idea" when i'll be done .. Maybe tomorrow , maybe in June .........

 

[BigAl]

Well , Things are looking up . Apartment #1 is finished and turned out very nice . The laundromat seems to be picking up more business each day even though it will never carry the whole buildings overhead expenses on its own . I also rented out a 2 bedroom unit starting in May that still needs to be remodeled .Starting to get a lot of inquires about apartments which is good .
I started installing the new Lodge Pole pine log siding on the exterior and it sure makes the building look totally transformed . It's now taking on the appearance of a log lodge instead of a plywood looking box . I also decided to install a rock veneer exterior waincots around the perimeter of the building .

The grip of winter is slowly being released and the ground is starting to thaw . I should be able to start the new deck across the front soon .

Federal Foresty stopped by and asked for a bigger washer so they can wash their horse and Mule pads . Ain't going to happen and I told the guy so .Don't wash animal related items in my washers . He stated he could go to Lewiston 135 miles away and get it done and I told him to have a nice trip . No way in hell I am bringing in a Bigger washer just so they can wash their damn horse blankets . I think it pissed him off , but I don't give two hoots if he liked my reply or not . I'll be damn if I am spending 8 grand so he can happy . Yes , somedays I am a jerk .

This has been and interesting business adventure . Not sure if I would do it again because I do not like being tied to the business . Hopefully I can turn it over to a manager soon .

 

[BigAl]

OK!!! I am rolling in the money now !!!........ well I mean quarters .
Business is getting better ...... Shoot I must be up to almost $20 a day in quarters . But that works out at $140 a week and about 7 grand plus in a whole year !!!

Seriously , its a start , be it a small one . I actually am doing better than I thought the business would do in the beginning .
My projection is that the bussiness will show a profit in the first year and not the 3 year average that many take to break even . Good for the IRS , bad for me ..

My reasoning is that I am recieving way too many inquirerys about the rentals and Mini storage units . WE are also picking up one to two new customers a week . Showers are starting to get used as more folks find out we offer them . Logging season is starting and the Miners are starting to come back in for the season . Maybe I should trade for Gold ???
One apartment is now rented , and 4 Mini storages spaces are reserved .

 

[BigAl]

Woowee! I am tired . I been working on Apartment #3 at the new building in between "Back Pain" .

I'm about 2 weeks behind on have the 2 bedroom ready to rent and the new tenents are anxious to move in .

My back is shot and needs a major rest .It could take even longer to heal if I screw it up again .

I have an Idea. What do you think about me renting them my 3 bedroom unit for the same price as a 2 bedroom unit ? Its all ready to go . It is on the ranch with a full covered deck and a lot more privacy. The ranch is 2 miles out of town but they will get the Elk Herd to look at each evening and fish in the stream out front .
I was keeping the 3 bedroom in reserve for a bigger family , but I would rather see it rented and this is a nice young couple and they both work .