All Forum Posts by: Derek B.

@Susan Fagnant-Patry  welcome to bp and to nc. Glad to have you here. 

@Corey B.

What type of building?  Was it built as an 8 unit or some other use and converted?  

How do the major systems look? age? maintenance?  hvac particularly?

Without knowing more, my big concern is that maintenance would kill it, particularly deferred maintenance to this point.  I curious as to where it's located, just to gauge the rental rates, but understand if you don't want to post that, particularly if it's a listed property.

@Mike Landry  I was curious for a comparison so I just checked...my family of 3 used 1,114 kwh last month in an all electric house and we run the dishwasher at least once per day and the washer/dryer at least twice each (don't ask).

Anyway, if it's not too big of an inconvenience, ask your tenant to start isolating things.  Continue as normal with nothing changed for 2-3 days.  Check the electric meter at the same time every day and record the reading.  What's the average daily?  Assume it to be around 100 kwh based on the report of 3,000 per month.  Then target some systems one day at a time and see what happens.  Ask your tenant to kill the hot water at the panel when they leave for work and turn it back on in the evening.  Did that change the reading?  Look for a mild day in the forecast (if there is one coming) and kill the hvac at the panel (not at the thermostat) and see if that affects anything.  Next, ask if they can go a day without dishwasher, washer and dryer.  Ask if they can shut down their computer/office set up for the day, possibly on the weekend.

My gut tells me that it's the hvac, or as someone else mentioned, the grow lights.  Other major systems/appliances should just break down but should not consume more energy before they do so.

@Scott Trench go at night and get your employer

@Joshua Dorkin to sponsor you!!!  

All seriousness, you have some valuable feedback from others here...you will pick up skills in org behavior, leadership and you can likely leverage its credibility when raising funds. You will also make connections that will be valuable in your business.  In addition to considering the $$, also consider the time.  I went part time at night while working full time - class 2 nights per week,  study two nights per week after work. Fri was my off night.  Back to the books Sat morn and afternoon and again Sun afternoon and night.  Almost 3 years of it. That was pre family.

@Galen Herbst de Cortina  i used podcast addict when i was on android and it worked well.  That was a year ago and there are some new ones out. Search on google or the market.  Assume you are on android if not iphone.

who do they call if they own the house?  A locksmith, significant other, mother in law, or someone else to whom they have given a key.  Or, they get out the hide a key.  But they dont call me.  Same applies here.  

If they lease their car rather than own it would they call the dealership when they are locked out of the car???

Not my problem.

@John Thedford great job and thanks for sharing

@Glen Smith  thanks for sharing your story. I am sure you can see that lots of people are willing to help and offer advice.  You can probably get some additional advice with some additional detail.  Forgive me if it's in the thread and I missed it:

What is the home worth?  Get an agent opinion if you don't know.

Understood that the home is free/clear but you have a heloc.  How much of the heloc is attributable to this home?

What will it rent for in as is condition?

Are houses selling in the area? 

@Justin Bush give us some more detail if you will.  Builing size, age, number of units, bed/bath per unit.  For guesstimate sake, I will assume your $4400 rent is 4 units at $1100.  3% vacancy is only 5 vacant weeks across all units, which seems extremely low.  Even if the building is in demand, you will have turnover time.  Speaking of which, you should factor in repair and turn costs which are not listed.  You have capex listed, but $1800 per year doesnt seem enough to fund all of the floor replacement, mechanicals, roof, etc.  All of that with your high taxes and you will likely find low returns on the cash you will have to put in.

@Kevin Donovan  this doesn't fall into the "ignore it and it will go away" category.  Turn it over to your insurance company. Let them investigate.  Defense costs are covered by your liability policy.  

No legal advice.