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Updated over 2 years ago,
Single Meter Duplex-- Utility costs getting out of hand??
Hi all. Last year I purchased my first rental (BRRRR) for $115,000, and put around $30,000 into repairs. It appraised for last month at $220,000 in which I was able to do a cash-out refi and pull almost $30k back out.
With all of this said, I was a complete amatuer at the time in which it is now costing me a large sum of money monthly. I include all utilities in the rent in which I gross $2,440 a month. I cash flow anywhere between $600-$800 between both doors.
As time goes on, I feel as if I am going to undergo an ample amount of stress and headache dealing with paying for the utilities as tenant remorse for heavy usage is slim to none.
I have contemplated on selling the property to an investor who is apt to dealing with single metered MFH, but that's still in speculation, given that rates are much higher than months ago.
What would you do in this situation?