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She counted my pans before she asked what the rent was

I bought a corner lot with a 1954 house on it because I wanted the dirt. Half an acre, three streets away from a plant that keeps getting money spent on it, and my whole plan was to hold the land twenty years and let the house pay its own taxes until somebody made me an offer for the corner. I had a tenant in it at $1,050 who left last spring after four years, and I was going to paint it and re-rent it and forget about it again.

While it was empty a woman called me off the county listing. She books housing for a relocation firm that staffs turbine retrofits, and she had three engineers coming in for eleven weeks starting in August, with an option on a fourth. She asked if it was furnished. I said no. She said would you consider it, and I said what does that mean exactly, and she said can I come look Thursday.

She was in that house fifty minutes and she barely looked at anything I thought mattered. Walked past the new water heater. Did not ask about the roof. She opened the kitchen drawers and told me the cutlery count needs to be twice the head count because nobody runs a dishwasher for four forks. She opened the freezer and said it has to be empty and clean, they will buy their own food but they will not clean somebody else's ice. She stood in the back bedroom and asked where a person plugs in a laptop while sitting at a desk, and there was no answer, because there was no desk and the only outlet was behind the door. She pulled out her phone in every room and watched a number.

Then she sat on my porch step and asked who answers the phone at eleven at night when the furnace stops.

I said me. She said that's the whole thing. Everything else you can buy at a warehouse store in one afternoon.

Her number came in at $2,850 a month, all in, utilities and internet on me, cleaned every other week, invoiced to the company and paid net 30 by a procurement department I have never spoken to. I spent about $9,400 furnishing it, and I still think of that house as a land hold with a caretaker building on it. But the caretaker building is now the best-earning thing I own and it happened because a stranger counted my pans.

The fourth engineer showed up in September. She emailed me the week before and asked if I had a second desk. I did not. I do now.

28 replies

Outlet behind the door is such a classic. I've done four of these conversions now and the desk wall always ends up costing more than the desk. One of mine turned into pulling a new circuit because the guy wanted a monitor and a space heater on the same wall, and the 1950s panel had opinions about that. Scope creep is not a flip-only problem, arbor.

The part I'd want is her checklist. Fifty minutes and she knew what she was looking for in every room. Did she ever send you anything written or was it all verbal?

$1,050 to $2,850 with $9,400 in and utilities on you. I ran that back and even giving up a couple hundred a month to power and internet you're paid back inside the first placement. My ceiling problem is exactly this, I keep buying and not repositioning what I already have.

Nine four for the furnishing is lower than I expected honestly. Was that mattresses included or did you already have beds in there?

Net 30 from a procurement department you've never spoken to is fine until it's 62 days and nobody answers. Ask me how I know. Get a name and a direct line while everyone is still happy.

Dumb question, why does she care about the phone number on the freezer's temperature and not the roof? Is that because the company already accepted the property and she's only checking the guest experience?

Followed all of this until the invoicing. Is the lease with the company or with the engineers? I genuinely don't know who the tenant is in that arrangement.

@vellum that's the question worth asking and it varies by how the paperwork is drawn and by state. Corporate housing agreements are usually signed by the company as tenant with named occupants listed, which changes who you pursue if the rent stops and can change which notice rules apply. Read whose signature block is at the bottom of arbor's document and whether the occupants are named or just referenced. I'd have a lawyer in your state look at it once before you sign a form somebody else drafted.

You bought the corner for the corner and the house is now subsidizing the wait. That's the version of this I keep trying to explain to people who think land holding means paying taxes on nothing for twenty years.

Honest reaction, this sounds like a second job with extra steps. Cleaning every other week, internet in your name, furnace calls at eleven. I want the $1,050 version.

I've been writing down what I'd need for a first purchase and "cutlery at twice head count" is now on the list, which tells you how planned my plan actually is.

Does this work anywhere without a plant three streets away? Everything near me is a two hour drive from anything that staffs a project.

@hollow rural hospitals and travel nurses, and any place with a substation or a line crew. Ours came from a contract crew doing water main work for a small city. They needed six beds for four months and there was nothing but one motel.

Watch what breaks when you go from one furnished unit to three. Sheets and towels stop being purchases and become inventory, and the day two turnovers land on the same Friday you'll wish you'd hired somebody before you needed to.

@beacon people do, and the hard part isn't the phone. It's carrying a plumber who'll actually come out at eleven, and then explaining your rate to owners who are comparing you to their brother in law.

Screening question, do you still run the occupants at all, or does the company vouching for them cover it? First rental coming and I've read about eight opinions on this.

The line about her walking past the new water heater is going to bother me all week. I've been assuming the physical stuff is where the value is.

How much of this repeats? Eleven weeks is eleven weeks. Did she come back with another crew or did you have to go find the next one yourself, because that's the part I'd want to understand before I spent $9,400.

@anchor that's the right question and I'd want it answered with dates before I underwrote a second one. arbor has one relationship and one plant. If the retrofit money stops the premium goes with it and you're back to $1,050 with a house full of furniture you have to store or sell. Not a reason to skip it. It's a reason to know what your unfurnished floor is and be able to live on it.