Sometimes I wait too long to get things done. I like to make sure there is money in the bank for those rainy days that happen when you own retail real estate. A broken AC unit could cost us 10 grand and happen at any moment. I like to wait to do major renovations as keeping a positive cash flow is important. However, when something needs done, I get the best people to do the best job possible. It lasts longer when you do that. I hired a company that does paving in Nassau County NY to resurface the parking lot at a small retail complex we own. I stopped by to inspect the property and make notes, and I stepped into a big puddle when I got out of my vehicle. I had let this parking lot go too long before repairing it.
The building had been renovated the prior year for an anchor store tenant. I am surprised they had not asked me to redo the parking lot. I know I hold out for some things, but even I could see the need to repave this lot now. Actually, it should have been done months ago. It looks like the last winter was hard on this lot with some frost heaving and pothole formation. I am just glad no one has fallen as that could be a real liability issue. I asked the company that does paving in Nassau County NY to come out and resurface the lot as soon as they possibly could.
The old surface needed milled down, and I wanted a thick top layer of new pavement that would last for a long time. I had the sewer system and other infrastructure inspected before the paving began as I did not want to have to be digging up our newly resurfaced parking lot to fix something underneath. The new lot makes the whole building look better.