All Forum Posts by: David Sisson

get rid of the shutters. this is a modern home and stylistically shutters have no place on it. 

Maybe ask this same question in a BP forum for your area?

I wonder what it'd cost to install multiple meters = multiple water bills and have the tenants buy the water straight from the utility? 

At my little rental in East Providence (its a SFH), they won't do a contract w/the tenant, only the property owner.

Haven't done it myself, but MA law says...

http://massrealestatelawblog.com/2016/03/23/landlords-dont-get-into-hot-water-with-your-tenant/

Check your state's law. This would not be allowed in MA for example.

http://massrealestatelawblog.com/2016/03/23/landlords-dont-get-into-hot-water-with-your-tenant/

PS: try heatinghelp.com good resource for all sorts of HVAC and hot water/steam related questions. 

So, I'm only really familiar with steam radiator valves. The purpose of a steam radiator valve is to turn off the radiator, you DON'T use them to control heat to the radiator. I find steam radiator valves to be a bit useless - because why would you turn off a radiator entirely? Maybe in a big home. Anyway, you replace steam radiator valves when they are leaking. Are yours leaking? Do you need to turn a radiator off? 

This valve looks identical to a steam radiator valve. 

If you don't want to DIY it, then hire a plumber. They should know how to do it. 

If you want to DIY it, then do it the same as a steam valve. Big pipe (monkey) wrenches, with a breaker bar, go slow, then install the new ones with the white pipe dope you can buy at the big box store. 

If it was me, I wouldn't replace them unless they are stuck shut, or leaking. 

For my local commercial clients - who have historic buildings - a lot of them are forgoing the federal tax (rebates? credits?) because the cost of historically correct construction isn't offset by the tax incentives. For this building, I think the city would require it anyway. Commercial tenants aren't worth much here - I already have a large commercial building and it was challenging to find tenants + the rental rate is fairly low. I'm considering pitching the city on the idea that I'll move my office into this building + do apartments. Ground floor apartments as handicap accessible. That would probably excite them. However, still would have issues with the $. 

@Grant Rothenburger rent would be (gross) $4400 to $8800 / month, depending on number of units and price per unit. I'm planning on the low end of that. I don't have an ARV for selling, but it'd be a buy and hold regardless.

@Chris T. No violations, no zoning issues, no past due taxes. I have a good relationship with the city, and I can get some concessions from them. The city wants to see this property improved and could be convinced to do some property tax abatement. With that said, if I don't follow through, the city would find violations, so it's a double edged sword. 

Planning on buy/hold. Saying that it's "ARV" is $600ishK really means:

1) That cash flow would only sustain a All-in of $600K and

2) That the current value of the building ($180K) would only sustain a construction loan of $540K (25% equity). 

I don't know what the actual ARV would be. $600K would be on the high side for a 5 unit around here, but this is a unique building.

I'm wondering if there's some other way to make it work. Hard to turn down a free building.