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Updated over 8 years ago,
Wall Heaters instead of forced Air
So we are under contract on our first property. The numbers look good and based on them we are looking at positive after-debt cash flow of $289/month.
Simultaneously we are looking at another property where we would be spending $7000 less in rehab costs but will cash flow for $230/month. It's a cleaner unit but it has electric wall heaters instead of a tradition furnace.
What do you think of small(1000sqft) 3/2 homes with electric wall heaters instead of traditional forced air? The only chink in the armor is the wall heater thing. My only fear is making sure that:
1. It would be easily rentable
2. Our lease agreements would be solid to make sure our tenants never hurt themselves, the property or sue us. These wall heaters get really hot.
I live in Utah - so it's cold about 8 months out of the year - unless it just stays hot. Those of us who live here know what I'm talking about :)