All Forum Posts by: April O.

Lots of great advice to consider. I appreciate everyones responses.

I do have to say I was wrong about the water charges. I just got off the phone with the water and sewer company. I guess if you own a 4-plex or larger you are charged per 1000 gallon, 2-3 plex has the choice of metered or set.

@Scott Sewell

yes, I've heard Schlage makes the best locks. Also learned that one from experience. Winter is difficult on the locks here or so they say.

@Roy Schauer

Nice to see a face from Alaska. The washer and dryer are both electric. Thanks for the door advice. I didn't think about a self locking door. I have so much to learn and think about.

Luckily we don't pay usage for water. It is a set fee. But I'm happy to have the change apply for the electric and gas bill. Who knows, I will have to see how it goes and when this one breaks we may decide to use a different approach. For the time being, looks like I have some research to do.

@Tom S.

the building has a common entrance which I hope I can get the tenants to keep locked. I would hate to come out of my apartment and find someone sleeping in the hallway. I don't think it would happen but you can never be too careful.

I'm in the process of buying a 4-plex. It already has a coin op washer and dryer installed. What is the normal charge per wash and dry?

@Rob K

LOL I've never heard that expression before. "It's like undressing a fat chick. Every layer that comes off gets worse and worse."

I'm going through the purchase/reno loan right now. You can do the 203K that was already mentioned or some banks offer a conventional purchase reno loan that is slightly difference from the 203K. If you can afford it, it comes with no PMI and less fees. I'm not sure which process is easier but for us it was cheaper in closing cost. Good luck with your property.

Would love to but unfortunately, it would be too expensive to break them up and no room available for the additional equipment.

I'm purchasing a 4 plex with 10 bd and 4 ba. I got 3 quotes and each one had a different size indicated. Does anyone have any experience with this? This is my 1st investment property. I want to make everyone has enough hot water but not too much.

I'm also in the process of purchasing a 4-plex that has been vacant for a year. We couldn't check the plumbing because we already know the furnace isn't working. The pipes have been pressure tested so we are hoping for the best. Good luck with your new place. Hope everything works and no surprises.