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Updated over 11 years ago,

User Stats

17
Posts
0
Votes
Matt Markel
  • Homeowner
  • Council Bluffs, IA
0
Votes |
17
Posts

would it benefit you to separate utilities on a multi family property?

Matt Markel
  • Homeowner
  • Council Bluffs, IA
Posted

I have found a multi family property that needs some rehab. I am working with a local, experienced investor, who wants me to not just ask him questions but use tools like BP to get the education and range of experience from others to form my plan for the property and then he and I will sit down and go over my plan and his plan to make our plan. I am wondering what people think about separating utilities? We have a property that is 3 units, purchasing for 16,500, needs about 30,000 in rehab and ARV is 90,000. Rents will be about 425 for the 2 1BR units and 475 for the 2BR unit. In speaking with contractors, to split all the utilities, it would be about 20,000. Would resale be better with separated utilities? Just looking for benefits either way.

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