All Forum Posts by: Eric Williams

Hey Jules,

I'm going to echo a little of of what @Scott Matthew C. said and ask why did you just jump to wholesaling?  Lots of different ways to get started in real estate and in my opinion wholesaling s not necessarily the easiest way, yet it's the default strategy people want to jump into.

If you have a W2 and you could just get into buying properties for rentals, you could be a transactional lender, you could even sponsor deals if you have good credit.  Note investing as Scott mentioned is another pretty good way to get your feet wet.

Happy to discuss in more detail with you if you are interested.  Feel free to reach out.

I have a contractor that did not finish the job on a rehab I am doing for one of my rentals.  I am not going to pay him the final draw of about $5K.  Is there a contract that you generally try to get a contractor to sign to make sure he doesn't put any liens against the property?

I have a house that I need to have a new electrical box installed to accommodate for a garage apartment that I added.  Having issues getting a good electrician.  Can anybody recommend a good electrician that will work in Baytown, TX?

Is anyone else having problems getting results from the Bigger Pockets Contractor Networking tool.  When I click the button to get results they never populate.  Just keeps spooling indefinitely.  I tried a few weeks ago for one service and it didn't work, but found something on my own.  Tried again today for a different service and it did the same thing

@Brad Hammond you are the man!  Thank you for all the good advice.  It is looking highly unlikely that I will get approved by the city for the separate meters as of right now, so it's looking likely that I will have to charge my tenants for utilities.  I will see if I can get historical usage although I am not sure it will be that useful for electric as the house has been vacant and I just added a new electrical box for the garage apartment and I installed central HVAC which the house did not have before.  But should be good for water!  Great suggestion!

@Brad Hammond.  Thanks for the suggestion!  Could you also do a percentage of the bill instead of a flat fee?  I have no idea what the utilities would cost as I have no historical usage data for this house.  My issue with that is it would require more work that I really want to do, as I want this to be passive income.

@Angel P.  Thanks for the advice.  I called and they told me I could not get a separate water meter.  You are thinking I will have better luck if I go there in person?  But they did tell me that I am in a revitalization zone so I have applied for that and will get some tax breaks for the next few years as a result and all permits I need for the rehab will be free.

I just closed on a house in Baytown with a detached garage that already has water and electric run to it, so the plan is to convert the garage into a garage apartment that I will rent out separately

I contacted the city and they say that they will not allow me to get separate meters for the garage apartment, so I have been looking into installing submeters.  If anyone has any experience with installing electric and water submeters on a small multi family I would be really grateful for any advice.  I have asked my contractors and neither of them seem too familiar with this.

An online search shows lots of different options for wireless monitoring where usage can be monitored using an app.  Has anyone tried doing this before?  

Also open to any suggestions on how to structure the contracts of the houses to allow for tenants to be responsible for the water and electric bills.

I just got under contract on a property with a garage apartment in Baytown.  Anyone know the process for getting a separate address registered for the garage apartment?

Thanks

Eric Williams

Hey Nick,

I'd love to join something like this!  DM me and I'll give you my email address