All Forum Posts by: Erin Shine

@Samantha Klein I'd like to make a case for hybrid/heat pump hot water heaters if the budget allows it. They definitely cost a little bit more, but I put them in my rentals and renovations. 

While I focus on net-zero renovations and rentals where efficiency and solar play a big part in having no electric bill (for whoever lives in the home), the heat pump water heaters are fairly new on the scene yet really make a huge dent in energy savings for the renter/homeowner. 

Some thoughts on reasons to spend a bit more on these for use in a rental:

- 10 year warranties. A.O. Smith is a good brand at Lowes (I have used this one), and Rheem Performance Platinum at Home Depot is good too and is going in our latest project.

- $300-400 savings per year for whoever lives there vs. a regular 40-50 gallon water heater (based on local utility rates and usage of course - would have to calculate exactly). If you do short-term rentals, pay the bill, or if you live there, the payback on the cost difference upfront is only a year or two.

- I've also found the benefits of noting the energy-efficient features on rental homes and explaining them to the tenants. A bit more of a stretch, but freeing up this kind of savings for them really can help ease the pressure of some tenants' budgets. It's maybe a few hundred more upfront, but $3,000-4,000 savings over those 10 years and that's just the warranty period.

- These install basically the exact same way as regular hot water heaters, it's just that they are bit taller because the heat pump unit sits on top.

- You might want to install them in the garage, since the heat pump makes noise (anywhere from 45-80db in my testing). Definitely could be annoying if it's inside the house.

- $300 Energy Efficiency Federal Tax Credit - must verify if you qualify

I just bought the Rheem 40 Gallon from Home Depot for $1,149 and it's going in our latest short-term net-zero rental project here in St. Pete, FL. If you qualify for the rebate then you're down to $849. 50 gallon+ is a few hundred more upfront. 

This may not be the best solution for your particular situation, budget, and goals but did want to present the option. 

Hi Andy,

I've had good luck finding companies on Thumbtack actually, for my reno here in Cape Coral. I've hired many people listed on there and they all turned out well so far (check reviews though).

Adding my thoughts here as well - I just moved back to Cape Coral (grew up here) after being in Denver for eleven years, purely really for the real estate market and relative affordability compared with most of the rest of the country. I'm doing what I believe to be the first and more affordable net-zero renovation home in the area through my company Attainable Home, and all the numbers worked not only for that (energy efficiency measures + solar) but also as a pure rental/BRRRR/investment or however you'd like to slice it depending on investor-type goals. Overall it's a high growth area and I would bet it'll be even moreso with Covid and people wanting more rural, open, and larger lots/houses. It's also probably some of the cheapest waterfront you can find. Not really aiming to sell anything here and I have no ulterior motive, just listing reasons why I zoned in on it to start with. The area also has an influx of snowbirds and people from Europe as well in the winter, at least in non-pandemic times.

Agree on all the comments about flood insurance, made sure my house here was outside the flood zone. Some houses ended up having a higher cost for flood insurance than homeowner's insurance when I quoted some.

A very serious issue that most people are unaware of or skip is sea level rise. It is real, and it is rising. As a failsafe I used the NOAA Sea Level Rise Viewer -

https://coast.noaa.gov/slr/

I used different resources to check the current sea level rise rate per year, then 4x'd it, then pushed out that rise for 50 years, and made sure that my property was still above water at that level. Ridiculous? Maybe, maybe not. I can tell you that the other day it rained a bunch and the canals and Chattahoochee River was literally almost overflowing over the sea walls on some waterfront property. What will that look like in 20-30 years? There are many other issues that come with this, such as road access to your property and lack of sewer drainage ability, etc.

Also you need other things to drive down insurance like a wind mitigation inspections, 4-point inspection, and maybe one or two others specific to the area. I'm finding hurricane shutters or impact windows coming into the mix as well which can really add up. 

Hey guys, thanks for reaching out! I messaged everyone individually

Andrew I initially wasn't planning on being back in Columbia on those dates but maybe I can double back if I'm close, thanks for the heads up on the meeting as they would be a great way to connect.

Hey all,

I'll be spending a couple weeks driving through SC and NC looking at real estate from Nov 11 through Nov 26 coming up here. I would love to connect with investor-friendly real estate agents, wholesalers property managers, rehab/investor-focused contractors, and lenders in these cities:

Greenville, SC
Columbia, SC
Myrtle Beach, SC
Wilmington, NC
Greensboro, NC

My strategy is mainly BRRRR and possibly a new primary residence, but for both I'm looking for a light-to-moderate renovation single & multifamily properties. The price is flexible and depends on the location, and looking for off-market deals mainly, however open to options as the numbers make sense. Also looking to meet the .8-1%+ rule on these as well. Please message me as I would love to talk to you further about options if you are a professional in these areas. Thank you!

Hey all,

I'll be spending a couple weeks driving through SC and NC looking at real estate from Nov 11 through Nov 26 coming up here. I would love to connect with investor-friendly real estate agents, wholesalers property managers, rehab/investor-focused contractors, and lenders in these cities:

Greenville, SC
Columbia, SC
Myrtle Beach, SC
Wilmington, NC
Greensboro, NC

My strategy is mainly BRRRR and possibly a new primary residence, but for both I'm looking for a light-to-moderate renovation single & multifamily properties. The price is flexible and depends on the location, and looking for off-market deals mainly, however open to options as the numbers make sense. Also looking to meet the .8-1%+ rule on these as well. Please message me as I would love to talk to you further about options if you are a professional in these areas. Thank you!

 I don't disagree with you from a pure investment standpoint but the further I go on a business owner/investor the more I'm of the opinion that we need to take responsibility, if we have the power, to provide, in this case, energy efficient items if the cost is within reason. That might be six months payback, two years, or maybe ten. We should do it for the tenants and also for the environment, even if it costs a few extra bucks up front. 

For instance, if you pay maybe $100 per unit for energy efficient lighting before they move in (LED bulbs that are standard format), that will save most renters 20-30% on their electric bill. If the bill is, on average, $150/mo, that's $30/mo or $360 per year saving 20% energy. With all eight tenants above, now we're saving everyone $2,880. Now, yes you pay up front a few extra bucks, but it saves the tenants that much more in their pocket, and thus giving them more free cash to pay you your rent (perhaps incrementally higher rent), in addition to other benefits by others mentioned above. And it saves the environment.

The environmental piece always comes last in a business setting or transaction, but it helps nonetheless and as time goes on we'll sure need to give it more priority out of necessity of the planet. It's a win-win all the way across, and again even if things cost a little bit more it's the right thing to do.

I also don't think most potential renters really shop or have the electric bill at top of mind as they apartment hunt, and thus you really find out what the bill is on the back end after you move in, sometimes to pretty a hefty bill.

Of course I have bias given that I own an energy efficient lighting manufacturing company, and have otherwise been in solar and lighting for ten years, but the business and ROI numbers speak for themselves and that's why I got into it in the first place.

 Awesome! Great to hear and appreciate the offer.

LED is now mainstream and has pretty much become the standard. Most of those concerns from years ago about color rendering, flicker, dimmability, reliability, etc are now pretty much gone & fixed. That's new as of only about 1.5-2 years ago I would say. I own a lighting distribution and manufacturing company and have seen the transition first hand. Costs have come down to the point where CFL's and incandescents don't really make sense anymore, given that LED's save 50-90% energy depending on the fixture/bulb type.

And as mentioned above the warranties now reflect this and in the residential world they are anywhere from 2-5 years or so. In bigger commercial products they are now 5,7,10+ because the science and longevity of LED's has been proven and as long as the fixtures aren't in a super hot area (the enemy of LED's/circuit boards) the fixtures will now last.

Depending on the building and location, be sure to look up any potential energy efficiency/lighting rebates for your area as well - http://www.dsireusa.org/. In some cases the utility companies will pay for 50% or more of the fixture costs, or provide free light bulbs because the savings are so large.

So I think Amendment 70 voted for $12/hr by 2020, not $15/hr. 

http://www.nytimes.com/elections/results/colorado-...

This article reads like a PR piece and it worked because it got us talking about it here, but I don't disagree that Dentro Metro has been on fire and a pullback is not unlikely, especially as the economy starts to slow down after this 7-8 year (slow) expansion.