00:00:00:04 - 00:00:13:03 Matt
So we're going to bring Theresa Klekar, our investor relations manager.
She when she saw this site, right when we bought it and it was a little rough,
but we've had a year worth of DeRosa operations here. Let's see what she has to say.
00:00:21:24 - 00:00:25:15 Matt
Wow. I know. I just finished floors.
00:00:25:25 - 00:00:31:14 Theresa
I was here when the floors were being sanded and this was just a dream. Yeah.
And this had this floor.
00:00:31:18 - 00:00:43:01 Matt
Yeah. Yeah. We were into the back. It had the store over the back into it, so. Yeah. Yeah.
He took a store over the backing and didn't want
to pay the actual owner bucks to just put something like a few.
00:00:43:23 - 00:00:44:16 Theresa
Of these little.
00:00:44:17 - 00:00:46:13 Theresa
Holes in over her food to draw.
00:00:47:01 - 00:00:49:11 Matt
This is Justin's pride and joy the sink.
00:00:49:16 - 00:00:50:08
Theresa I love that.
00:00:50:08 - 00:01:07:19 Matt
You literally bait a small animal or a human in here. It's little like, wow,
factors like this, does that matter? And he got a great number on these sayings.
As long as they're committed to buy a lot of them, which we need. 336 units.
So this is super close. Wow. Like somebody that likes to cart whatever comes in.
00:01:08:00 - 00:01:11:10 Matt
Oh, man, that's so cool. That's so convenient. Look at that.
00:01:11:11 - 00:01:12:25 Theresa
I want this thing in my house.
00:01:12:26 - 00:01:16:18 Matt
Oh, I want to do. I'm getting extra hands, right? Yeah.
00:01:16:19 - 00:01:28:29 Theresa
Oh, look at this. And I love that. Well, we're here you know, the appliances didn't quite match.
Yeah. So they've looked so good and the light looked so good in the
cabinets. I can't believe how phenomenal this, you.
00:01:28:29 - 00:01:30:14 Matt
Know, let's show you back here. Let's take.
00:01:30:14 - 00:01:31:09
Theresa A look at Kyle.
00:01:31:09 - 00:01:37:24 Matt
Too. Yeah, not anymore. I'm correct. That tile put this little staging in the bedrooms.
00:01:38:07 - 00:01:41:21 Theresa
Oh, this is so. Okay, look at this.
00:01:41:29 - 00:01:45:25 Matt
Get a full size bed. Yeah. You know, in staging the unit, you can see what's possible here.
00:01:45:25 - 00:01:58:01 Theresa
Absolutely. Yes. This really makes the room
in your mind much bigger. And what I love, too, is all the light coming in
from the window. But again, nobody can tell me unless they're jumping up and down. I'm like.
00:01:58:13 - 00:02:01:02 Matt
Yeah, I I just felt like I said, you you get.
00:02:01:05 - 00:02:02:02
Theresa Look at those trees.
00:02:02:13 - 00:02:09:16 Matt
Guys. In the in the YouTube channel check. We've got a video on the cost
of staging an apartment. This is the apartment we did the analysis.
00:02:09:16 - 00:02:12:05
On to check the the YouTube content. You guys want to see that?
00:02:12:19 - 00:02:17:07 Theresa
Yeah. These are real nice size. Yeah, real nice to have you paint.
00:02:17:07 - 00:02:18:19
Matt Job, too. Yeah.
00:02:19:04 - 00:02:23:21 Theresa
I like the brick work. Haney It looks set a nice a little bit of space.
00:02:23:21 - 00:02:27:15 Matt
I just love that we just buffed the floors again, guys.
00:02:27:15 - 00:02:34:17
My favorite floor ever is hardwood, with carpet being the absolute bottom
in the list on my favorite. Oh, my favorite for coverings.
00:02:34:26 - 00:02:38:13 Matt
So we just buffed this out, brought these floors back together. With the bathroom.
00:02:38:20 - 00:02:43:29 Theresa
Oh, let me get out of the way so you can see this. This is gorgeous. Yeah, I really like the ball.
00:02:44:01 - 00:02:59:01 Matt
Terrace of the bowl in that shower curtain is, I think it's another 15 $20 to do to buy
that boat shower curtain. But look at the difference. It makes it showing the unit,
then a prospective tenant, Bo, it leaks less because if you resets it back like that,
she holds the bows and a little bit of it against the wall.
00:02:59:07 - 00:03:02:11 Matt
That's a properly installed bow. You don't put it all up to the.
00:03:02:11 - 00:03:12:25
Edge because then it'll encourage the water to drip out of the out of the tub.
That actually keeps more water in the tub. But it also makes it feel like a bigger
encasement inside that in the in the tub. I'm putting that rounded feature.
00:03:13:01 - 00:03:23:14 Theresa
I love that you pointed that out about the the ends coming in because so many times when
you're in a shower with the shower curtain, you're always seem to be finding those ends.
And this looks like it's already automatically taken care of.
00:03:23:17 - 00:03:24:12
That's where it's going to leak.
00:03:24:12 - 00:03:29:27 Theresa
I would think, if you would need that when you have somebody who's renting
maybe isn't as concerned as if there were only.
00:03:29:28 - 00:03:47:12
In my experience as a landlord, the more common leak that happens in a bathroom, people like all
the toilets leaking, not as much. What really happens more often than not is the shower
leaking on the edge because the tenant in it just they don't have the shower curtain
installed properly or they're just not not being responsible with the shower curtain.
00:03:47:17 - 00:03:50:25
And part of the shower water is going right down through the Florida beautiful out.
00:03:51:00 - 00:03:58:08 Theresa
You know, and I remember the last time I was in here are these like the original tub
and the tiles around it because it didn't look quite it's lovely.
00:03:58:12 - 00:04:00:26 Matt
What we did here was we refinish that tile.
00:04:00:26 - 00:04:10:18
We just sprayed it epoxy on it, which is a fancy way of saying paint. Yeah. And then
we did it. Epoxy on the, on the on the tub and on the tile on the wall and give it like that.
00:04:10:18 - 00:04:15:27 Matt
Nice new looking, a new looking machine to it. But without having to put the labor.
00:04:15:27 - 00:04:21:16
Or the demo cost or whatever to ripping that old cast iron tile that here and put a new,
a new plastic table.
00:04:21:25 - 00:04:30:09 Theresa
Well I'm wondering about that too, because when you say paint on tile I
have all kinds of horrible vision. So that is that a really durable kind of thing.
00:04:30:12 - 00:04:46:19
You do you have to rough it first. You got it. You can use it with a grinder,
with sandpaper. You get to take the sheen off of the timing of how it's got like that
nice shiny finish. Do you take that off? Because that's what makes the paint not want to stick to
it. So you get a if you rough the edge of the tile up right it'll it'll the panel adhere to it.
00:04:46:20 - 00:05:06:28
Also, you have to use paint that's made to go on tile and made to go on a bathtub,
right? So they put a grinder on that tub to take the sheen off of it and they,
and they, and they're rough up the tile as well and then use the right paint.
You can, you can't just take a regular know bare whatever or you have Benjamin more paint like you.
00:05:06:28 - 00:05:12:20 Matt
Would put on a wall and that's been done. I've been in a bathroom that's
had that in a nutshell that peels within hours.
00:05:12:20 - 00:05:15:22
Would be that was professionally done professionally sprayed on and that's the.
00:05:15:22 - 00:05:20:05 Matt
Same finish by the way on our countertops. Those countertops are really new.
00:05:20:09 - 00:05:24:15
Those are those are encapsulated overlayed epoxy countertops.
00:05:24:15 - 00:05:26:26 Theresa
Where you use the old countertops.
00:05:26:27 - 00:05:38:19 Matt
Over here we put a new coating on top of them but feel that it's like a fingernail.
It's amazing. Yeah. Yes. And it's got that texture. I
look to it and everything like that. It looks great. It is. Yes.
00:05:38:19 - 00:05:40:10 Theresa
Perhaps Stone made it right.
00:05:40:18 - 00:05:41:10
Matt But it's not.
00:05:41:10 - 00:05:46:06
It's not a new countertop. It is a encapsulated countertop just for Mica.
00:05:46:12 - 00:05:52:06 Matt
But it's got this very thick epoxy on top of it. Right. Couple hundred bucks, guys.
00:05:52:06 - 00:05:53:29
You make it great. Make your countertops look.
00:05:54:05 - 00:05:55:00
Matt Pretty much new.
00:05:55:07 - 00:06:02:02
And it's a coating application. There's specific contractors that do this work.
We did not do it in-house. We hired a third party contractor.
00:06:02:24 - 00:06:06:11 Matt
And because of scale, this is a testament to multifamily. Because you're doing.
00:06:06:11 - 00:06:18:21
So many apartments, you're able to get a great deal out of the holding company they
commit. Every time we turn a unit, they do this coding and they do the the shower in the tub all
together just in one shot. And within a couple of hours, they're done on to the next year.
00:06:18:26 - 00:06:36:24 Theresa
You know what I'm taken by? Is that the finish on this? It looks
it looks so different and I'm looking into the bathroom right here. You know,
what I'm seeing is that little bit of shine on the tile, which made me think that this is new tile.
And I thought, how on earth did you guys do all of that and are you doing it for the child?
00:06:36:24 - 00:06:59:06 Matt
Makes it look new. It just makes you look new. It's the same kind of thing,
you see. And like you heard of a city glass, right? There is an additive you can put in this
epoxy to make it shine. All the all shine really is with shine. I'm seeing the light
being reflected off of this back. And so it's just a it's just a characteristic
of the chemical they put on and of the finish they put on here to make it reflect.
00:06:59:06 - 00:07:15:03 Matt
Ladies, your so it makes it look nice and shiny and things that are that shine like
this don't show stains is what is what do I see since Sheen I don't see the stains that
are here. Don't see the texture of the of the epoxy. I see that it's shiny back at me
and because of that chemical they put in there, so so easy to keep.
00:07:15:13 - 00:07:20:08 Theresa
I just remember that the cabinets did not look like first. Yeah. All right. Are the doors.
00:07:20:08 - 00:07:21:06
Matt Your new doors? Oh, they.
00:07:21:06 - 00:07:23:00 Theresa
Aren't. But you kept the boxes.
00:07:23:08 - 00:07:25:23 Matt
It's very common. That's what we do now. We're not saying.
00:07:26:02 - 00:07:28:09 Theresa
Yeah, yeah. And that's the old box.
00:07:28:13 - 00:07:34:09
Matt And that's and that's a
very common that is a very that is your standard Darrell Issa finish is doors.
00:07:34:09 - 00:07:38:20
Off, paint the box, put brand new doors on putting you in, put new handles on.
00:07:38:20 - 00:07:39:17 Matt
We can do a kitchen.
00:07:39:17 - 00:07:59:26
Set like this for around $500 whereas a new a full new cabinets set for a kitchen
would run somewhere in the multi thousands to 3000 maybe.
But I can come in here for about 500 bucks I can do those can't do those kind of doors the handles
probably all redone all soup to nuts for maybe under $3,000. Wow.
00:08:00:00 - 00:08:13:19
Right. We've got money from floors left to got my he's our typical Darrell Issa finished budget
is around 6000 to get to turn an apartment and we aim to get
somewhere between 100 to $200 per unit for four that drew us a level finish.
00:08:14:05 - 00:08:28:28 Theresa
Well I have to say really it's beautiful and it's inviting I keep using the word but I'm
just amazed to come back a year later and to see all of this this looks like a place
a lot of people I know, including myself, would be happy to live.
00:08:28:29 - 00:08:41:28 Matt
I live here. I live here. Certainly it has anything I want. It's got essential air. I
got a washer dryer. The washer dryer, my unit. Yeah, nice amenity. They got a nice
clean kitchen here. I like to cook so I can do all the cooking I need in the kitchen like this.
00:08:41:28 - 00:08:43:10 Theresa
And you have that fabulous soup.
00:08:43:19 - 00:09:01:13 Matt
Yeah, I know. I'm stealing. Yeah. Yeah, that's a cool stuff. Cool. Thank you. Thank you,
Terry here. But all right, guys. So that was a walk through one of our finished apartments
here at your residence is a Diamond Ridge with my great friend Teresa collector. Just. She
was here right when bought the property, and she hadn't had a chance to see it until now.
00:09:01:13 - 00:09:01:28
Matt A year.
00:09:01:28 - 00:09:02:21
After ownership.
00:09:02:21 - 00:09:03:12
Matt To see the great.
00:09:03:12 - 00:09:10:25
Finishes we've made here. It's great this first of all, it's awesome to celebrate wins
for any rental that you guys have a business project you guys are on.
00:09:11:01 - 00:09:13:17 Matt
It's interesting. We'll look ahead and where you want.
00:09:13:17 - 00:09:18:19
To go, but it's even more important to look back and see where you've
come from. So it's great to celebrate that with Teresa.
00:09:18:22 - 00:09:27:05 Matt
She was here and she saw in her southern charm when she where she walked this property,
she said, Oh my, what are we getting ourselves into? Right. And now you look.
00:09:27:05 - 00:09:32:11 Theresa
It's a whole different kind of place. The whole place is wonderful and what a fantastic job.
00:09:32:19 - 00:09:39:06 Matt
It's it's great to celebrate that. And we hope you guys got some tips here
for how you guys can finish your rentals and maybe ways you can set your own.
00:09:39:06 - 00:09:48:04
Company standards for renovations you want to get. So you can repeat those processes over
and over and over again. If you guys like we do here on the Destroys a group, YouTube channel.
00:09:48:10 - 00:09:59:17 Matt
Does take a minute right now and like this video, subscribe to this channel. Leave
a comment below to tell us what you think about what we're up to. You ready to close
it out with me? Right. Thanks for watching guys and have a great and profitable week.