It sure is going to be tight back there. The additional room for the garage conversion is pretty tiny but it will work, nonetheless. I don’t know what the task is called to bury all of the plumbing, but that has been finished. It looks really nice. The next step is to construct the rebar needed for the footings. We are slated to pour concrete on Friday. After that, it should look like it’s being built at a blazing speed, I hope. The weather is nice and there is no more rain in the forecast for the foreseeable future.

My wife and I met my Dad and Pas, our handyman who is working for his license, to discuss the next steps for the conversion. My wife was the translator. Pas understands quite a bit of English and my Dad speaks zero Spanish. A gameplan was decided upon and we left. My Dad is enjoying being “back in the game”.

Things are progressing; I had to buy tubs already. The garage is ready for its tub and it is going to be delivered today.

We will start showing the soon-to-be empty unit on May 1. The cheap vinyl floor in that unit will need to be replaced. We are asking $2699 at the moment which is $199 more than the current rent. We’ll see.

I had a discussion with my wife this weekend about our future and how to get there. As I’ve said, we have been focused on maximizing cashflow. Although, we want to be financially independent, we discovered that we’re not getting there the correct way. After reading, Start With Strategy, the focus has changed to increasing our wealth and then worry about the cashflow. We are going to cash-out refinance after construction has completed and rents have stabilized and roll that money into the next venture. Whether that is adding a unit and garages to our primary residence, or finding a new property altogether in which to house hack. I have made more progress on our PREP. The problem I am grappling with at the moment is how to hold our discretionary income pile in-between deals. For one, the cost of real estate where we live is some of the most expensive in the country. It would take us forever to save for a down payment with discretionary income. Do I cram as much capital as I can into my ESPP and wait until equity and the pile can be used? I work for a quality company so that wouldn’t be extremely scary.

I guess these are good problems to have.