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All Forum Posts by: David Bahr

David Bahr has started 2 posts and replied 4 times.

Post: Bennington VT area investors?

David BahrPosted
  • Rental Property Investor
  • Park City, UT
  • Posts 4
  • Votes 2

Hey @Michael Schanzlin, I've been investing in Bennington the last two years so would love to talk to you if you're looking for connections in the area.  There are not a ton of local investors here, so great to see your interest.

I do multi-family buy and hold, cash flow investing.  

@Bryce Cutler do you invest in the Albany area?  I've heard good things about Troy and Schenectady for growth!  

Post: First Duplex - Included Utilities and Lease Concerns

David BahrPosted
  • Rental Property Investor
  • Park City, UT
  • Posts 4
  • Votes 2

@Nathan MillerI like that suggestion, has the tenant thinking of the heat supply not just an endless supply of free utilities!

@Max T. Thanks!  Philly is on my radar as well, I'm based in NYC now so it's a quick trip south on the train.  Have you worked with wholesalers in the area?

@John Leavelle Curb appeal is tough, the lot is the back house on a shared driveway with basically no yard so pros: easy to manage...con: no room for exterior improvements.  The Bennington market is tough since things move very slowly.  Good for cash flow though, not too many investors here.  Appliances would be the way to the tenant's hearts.  Thank you!  

@Tawny Bloom Great hearing from a fellow Vermonter.  I moved my business here two years ago from the warm west coast and have had quite an education in east coast winter property management (burst pipes, boiler blown, wind/snow damage).  What do you mean by "separating out the systems"? The single boiler right now is around 83% efficiency so I think the only option is to have that boiler serve one unit, then buy one additional boiler to serve the other.  Right? 

Post: First Duplex - Included Utilities and Lease Concerns

David BahrPosted
  • Rental Property Investor
  • Park City, UT
  • Posts 4
  • Votes 2

Hi everyone.  I just got my first duplex under contract in Bennington, Vermont and wanted to get opinions on handling the new leases in the acquisition.  There is one boiler serving both units, and I'm concerned that my inherited tenants will respond more negatively to raising rents as opposed to no longer paying for heat in the lease.  This is my first property so I would appreciate any comments, am I required to have two boilers, or can I simply charge a flat rate for heat per month?  Does anyone have experience instituting these changes?  Southern VT gets pretty cold!  

Any other value adds for raising rent in this scenario?

Here are the numbers:

Purchase price: $60k

25% down payment

Rents: $1600/mo total (both sides)

Heating costs: $350/mo (Whoa!)

Taxes: $200/mo

Mortgage (Principal/interest): $230

Post: Youngin' Ready to Build Portfolio

David BahrPosted
  • Rental Property Investor
  • Park City, UT
  • Posts 4
  • Votes 2

Hi! I'm a long-time Bigger Pockets podcast listener and am finally cashing out of my non-real estate business! Cannot wait to find other driven members, sub-contractors and other investors experienced or not.  

My goal is to rehab multi-family properties for long-term holds and cash flow.  I'm based in NYC with a Southwest Companion pass, freedom, cash and a quick commute to the airport, so I'm interested particularly in Kansas City, Sacramento, Charlotte, and Philly where numbers look better than Manhattan.  Taking my time to pick my market but will be aggressive when the choice is made.