Chapter 133

“They need a lot of work,” Mike said, “most of it cosmetic. I think we can have all four of these houses ready to rent by the end of summer, maybe even one a month.”

“How long do we have to decide?”

“I’d like an answer by next Wednesday,” the banker said. “There’s at least one other person I know who might be interested, and the board is on my case about this deal.”

“Then I guess we’d better get busy and have a look,” I said.

The banker drove us to each property, where we did a careful walk-through. I had borrowed a yellow pad from him, and made careful notes along the way. Mike had brought the digital camera with him, and he took dozens of pictures of each house, inside and out. Then we went back to the banker’s office to talk about the properties.

“Properly fixed up,” the banker said, “the loan value of these properties should be high enough to cover the cost of renovations, with a significant surplus.”