Warehouse Update #1 – You Guessed It, Over Budget…

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Lauren and I bought a 9 unit warehouse building as an investment 2 months ago. Here’s a quick update about the work I’ve been doing there:

-Spray foam roof repair.
-Updated all of the electric meters and panels.
-Passed all inspections for the fire damage.
-Renovated the bathroom.
-Trimmed all the trees.
-Installed new gutters.
-Replaced 2 doors.
-Installed a BLUERIDGE Mini-Split A/C

Link to the mini split A/C:

Repairs so far have been $35,000 dollars which is about $5,000 more than I budgeted, so I had to sell our Dodge dually. With the new baby on the way we simply didn’t need that big of a truck until we hit the road again in our trailer conversion. We made $3500 profit from the truck which made it an easy sell.

The good news is that all of the major and most of the minor repairs are finished, so we should be back to business as usual next month!

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WaldvogelReview says:

I had a 1994 Nissan D21 Pickup with 287k on it when i bought it. It made it well over 300k

BigSnacks says:

can we get another update video?

wgsvm says:

Please consider doing a video about your Costa Rica house (including all the monthly / annual costs), as this would be very helpful for anyone looking to retire in Costa Rica. Thanks.

Zach M says:

When are you going to post more warehouse updates? Seems like there are plenty of projects to film.

D Dixon says:

Give him a little time and they'll say they sold the building and made over a million on it.

Iwouldlike Toremainanonymous says:

Awesome video, I just subscribed

Mr Daniel Explains says:

good luck on this big project mike and thanks for sharing.

Coconut Pete says:

Is this the beer drinking club idea?

Nick Griffiths says:

Is this in costa rica or did you can that idea?

John Doe says:

You could coat the rest of your roof with elasty plasty it will make your roof look nicer and help yo keep your units cooler and it will only cost you a few hundred bucks !! I would look at how you could reconfigure the parking lot to use as outside storage for boats and cars just a thought but could generate as much as another unit itself !!

nerd2daybosstmorrow says:

what camera do you all use?

Kellan P. says:

I'm glad that I stuck around on your channel – this is the kind of content that I love!!

My Space says:

Does anyone else think that Alan Arkin looks a bit like Mike?

weinam chia says:

Being a landlord is not easy Mike.  Hate to tell you but more issues to come.

Nick Almack says:

Thanks for being honest about your budget, keep that up! You're a financial vlog.

masterchief88 says:

Digging the warehouse updates

TooLazyToFail says:

Commercial renovation solidarity! I've been working the last two weeks on the space next door to my game store which we're renovating into an event center. Today I did a bunch of low-voltage electrical stuff. The unexpected expenses are everywhere and my original timeline is a pleasant fantasy, but we're going to get there, and so will you! I'm enjoying these videos.

Rafael Fernandez says:

Hey if you do decide to set up the mini splits please show us the install process. Even on the outside. I would get an electrician to set up but need to know the ins and outs and price.

Nick Griffiths says:

Awsome videos. Love following your inspiring story

Peter Barta says:

You're a machine. Thanks for keeping us updated

Austin Slack says:

Living my dream man. I know it's a lot of hard work but I'm sure it's worth it. Have fun!

Budget Girl says:

Looks great! So excited for you about the full capacity!

John Anderson says:

Mike, you are such a smart cookie! I think your greatest asset is that you can look at a situation and realize you need to rethink it. So smart to sell your truck for a cheaper one and pay cash for the roof. I never heard of spray foaming a roof. That sounds like a great idea, especially is a hot climate like Florida. You never fail to impress me with what you come up with. I wish you more well deserved success!

Sebastian says:

I see you still have your Honda pcx 125, I got mine 2 weeks ago, brand new 2017 model, I love it.

Sqeptick says:

That Nissan's a step up from a Dodge anyway.

byron flynt says:

You are doing a great job Mike. I hope you are able to get more warehouses and make TONS of cash
All the best from Texas.

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