All Forum Posts by: Andy Chen

@Nick Ziegler lol. Interesting. This is exactly what I am looking at now.

Hi all, can anyone recommend an affordable / reliable smart water meter so I can read remotely via WIFI? I want to install one meter for each unit and transfer the expense to the tenants. 

appreciate if you can share your experience or comments. 

Thank you

@Nick Ziegler Did you find out a solution? I am looking into buying smart water meters for my triplex and ask the plumbers to install for me. 

Thank you for your suggestions. That is a good idea. Maybe I can install sub-meters (wireless one) to get more accurate readings so no more guess.

The I can simply use the usage to calculate the % for distribution of the bill. Do you think this would work too?

Hi @Justin R. I am a new landlord. I presume RUBS billing is permitted in San Diego. Right?

@John Warren Thank you. The prospective property is located in URBANIZED PLANNED DISTRICT and just within .5 mile to main highway and surrounded by restaurants and stores. So I think it shouldn't be too bad. really appreciate for your replies and patience. 

@John Warren I put down 50% for my commercial mixed-use few years ago and it is at not-so-great location. Maybe it was because of the location. But I was able to refin it at 65% LTV recently. I don't have experience with pure commercial deal.

I heard the down payment for mixed-use is higher. Do you know if this is true?

@John Warren @Pat L. @Ian Walsh

Thank you all for your replies and valuable opinions. My observation is the same. From renting's perspective, it is the same as multi-family. 

Because we already have one mixed use in a decent location, my wife wants to diversify the investment property type. So the next property can sell faster than the mixed use in case we really need the emergency money. We want to be able to sell quick. We think because commercial property requires much more down payment, it will be harder to find the buyers. This is also something we want to avoid when refinancing. (3 units --> commercial = more down payment)

So the take away from this conversation is that the location is the most important factor for mix use. If the location is right, I can sell or rent it quickly.

% of down payment is a different topic though. Should I go above 4+ units or mixed use and pay higher down as opposed to residential multi-family with lower down.

The same money, I can hold on 2 residential MFs versus 1 commercial property.

I don't have the answer. :)   I am sure each has its pros and cons.

Hi all, I am looking at a property which currently has 3 residential units on a 7,200 sq ft lot. The updated zoning allows it to have MUCH higher density and it is right on the main street. The requirement is that the front side needs to have commercial component like a retail store.

My question is that would it be hard to sell if it becomes a mix use? Will people avoid mix use? From my personal experience, mix use will need 40~50% down which makes it hard to find the buyer.

I would love to hear your opinions.

Very appreciate.

Hi all, I am in California. Just took over a property. The previous owner did not charge water and sewer. I want to change the lease and start charging for it.

Current rent is $1,500. Based on 7.2% cap, I can only raise $108. In the new lease, can I charge water sewer fee in addition to the raise? ($108 + $30~50)

Or the total amount of increase is limited to $108 (raise + water& sewer)?

Please advise.

Thanks