Page 7 of Reclaimed Dreams
But clearly she didn’t see, because she still wasn’t talking to him. And she didn’t want to see, because every time he tried to explain again, she left the room.
She was leaving a lot these days, at odd hours, going God knew where. She wasn’t sharing that with him either. Home had become a lonely place, and he didn’t like it. But for the first time in his career, he couldn’t see the blueprint for how to fix it.
15 years ago
“So, what do you think?” Jo shielded her eyes as Dom stepped up beside her on the curb. Dom, the man who was never quiet and never still, stood and stared, silent. The frown on his face said it all. Jo tugged his arm and pulled him up what would be the front path to the six-flat apartment building that had seen better days.
“Oh, come on. It’s not that bad. Let me walk you through it.”
Real estate license newly acquired, Jo was eager to make her first sale. She had worked hard, studying at night and taking tests on weekends, to make this new dream a reality. Going back to teaching was impossible as long as Dom needed her help in the office. So she’d looked for opportunities she could schedule around her office work and the kids. She could sell real estate on the side, and the extra cash would go a long way. And most importantly, it was something just for her. She’d given up so many of her dreams already, she wasn’t going to let this one go without a fight.
“Look at the potential income here. Most of the units only require basic updates and a few repairs.” She opened the door on a ground floor unit, and managed to suppress a gag at the smell. Why wasn’t that skill on the real estate tests?
“Minor repairs? This place is one inspection away from being condemned. How long has it been vacant?” Dom grimaced, not hiding his disgust.
“Six months. The old owner died, and they haven’t found anyone willing to do the updates required to bring it up to code.”
“Did he die in here? It reeks!” He leaned his head into the open doorway and peeked around her. “This place is a money pit, and the upgrades are probably going to cost a fortune. There’s no way…”
“Dom. Block of salt. Give it a chance.”
She left the door cracked for ventilation and started the spiel she’d practiced, flinging up windows as she went.
“There’s a good-sized living space, and the kitchen is here on the right. We might consider opening this wall to make it feel larger as long as we have the walls down to fix the wiring.”
Dom’s jaw dropped. “The electrical needs to be replaced?”
“Yes, but we won’t have to pay an outside contractor to do it. Back down this hallway are two decent bedrooms and the bath. The tile is in pretty good shape, under the filth. I don’t think we’ll need to replace more than the fixtures.”
“And all the walls.” He had his arms folded tight across his chest.
Jo hated when he got stubborn, but she knew her husband well. “Dom, listen. Will it cost more to fix this than it will to buy it? Yes. But once we’re done, that’s six units of income every month on a property we will own outright instead of just a one-time sale. I know you’re used to building from scratch or redoing someone else’s mess, but I think there’s something to this renovation and rental model. Fifteen hundred a month times six is nine thousand. Which means $108K a year. In three years, we’ve recouped our investment, and it’s pure profit minus maintenance and taxes.”
Dom’s arms were still crossed, but he’d unclenched his teeth, so Jo reached for her trump card.
“Gabe graduates from high school in two years, and the others aren’t far behind. Our chicks are leaving the nest. We’ll be paying for college times four. The extra income wouldn’t hurt, and wouldn’t it be nice to offer them a branch to rent close to home when they’re done?”
Dom’s arms dropped to his sides. “You really want to do this?”
“I do. I think it’s a solid investment.”
“I’ll think about it.”
Dom was still thinking about it that night in bed. His head was dizzy from the teeter-totter of pros and cons that had run back and forth in his mind all day, and he still hadn’t settled on an answer.
Life was changing too quickly for his liking. His eldest was learning how to drive. His little girl was starting to date. His wife kept adding job titles to her résumé. Office manager, realtor, property manager. He felt like everyone was moving past him, away from him, and he was stuck. He didn’t know if he could change along with them.
But he couldn’t deny that the money made sense, and he trusted Jo’s planning ability. Keeping his kids close to home was definitely appealing, and guaranteed income made a lot of sense.
But were he and Tony ready to become landlords? In the early years, profits had been lean, but with Jo’s help they’d survived and gotten everyone paid. Even though they no longer kept a “playroom” at the offices, his kids were comfortable there. All of his kids knew their way around a job site, and he was damn proud of that. One day, Gabe would take over Valenti Brothers. Did Dom want to mess with a business model they’d finally gotten working?
He and Tony were doing just fine, but they did have five kids combined to put through college soon. He wanted to pass them a legacy, not a pile of debt.
That meant they needed more revenue, and that meant adding new lines of business. To be honest, Jo was probably onto something with this flipping real estate or developing rentals idea. It took a lot less time to do a few renovations than it did to build from scratch. But it hadn’t been a path he’d considered before now, because he’d largely kept the business the same as it had been when John passed it over to them. If it ain’t broke, don’t fix it.
He rolled over in his bed and kissed Jo’s shoulder.
“Mmmhhhh,” was her response. He kissed her again, and she rolled, pulling the blanket up higher.
