All Forum Posts by: Kazi R.

First of all, I absolutely love this site! Since discovering it few months back, I have learned so much from all the people who contribute here so selflessly! I am looking forward to learning more and contributing when I am able.

I am looking at a triplex in Atlanta metro area. Property is located in a good area. Here are the details:

1. Built in 1965 - 4 sided brick - total rent $1710 per month. All units are rented currently - new roof, flooring, kitchen cabinets and appliances.
2. Two 2 bedroom 1 bath units renting for $630/month.
3. One 1 bedroom 1 bath unit renting for $450/month.
4. Water is included in rent. Current landlord claims water bill is about $100/month, which I will need to verify.
5. Purchase price $90k - PITI around $600 per month after 30% down payment.
6. No central cooling - window units.

I have never owned a multifamily property before. I am worried about water bill included in rent, and also what kind of tenant the property would attract due to lack of central cooling system (tenants use window units).

Please let me know what you think. Thanks.

I am trying to refinance a rental property that is owned by my LLC. When I transferred the title of the property from my personal name to my LLC couple of years back, I used quit claim deed (thus unknowingly losing owner's title insurance!). Now I am planning to refinance this property and need to transfer the title back to my name. Should I use quit claim or warranty deed? Would using warranty deed restore the original owner's title insurance. Thanks for any help.