All Forum Posts by: Faye R.

Does anyone have thoughts about the Sunrise Manor neighborhood in Vegas? 

I'm an out of state investor with a SFR on Pacific Shores Dr. I'm happy with my PM. But rents are low, (long term tenants) the rate I'm paying is higher than necessary, and I've got more than 100k in equity that I would like to put to work.

If this neighborhood is in danger of becoming bad, I'll sell. (I know that it isn't and won't be a super desirable neighborhood.) But if it's a safe, respectable and working class neighborhood that is expected to stay as such, I'll likely opt to refi and raise the rents. 

I haven't visited for ten years so local opinions will be greatly valued. 

Thank you! 

I'll second avoiding Alpine. Here are my complaints: 

1)They have yet to provide monthly statements for periods ending 10/23/19 and beyond. (agreement states this will be done within 20 days after the end of each calendar month. (I requested them on December 4th and 21st) 

2) They did not withhold final water bill balance from tenant's security deposit. 

3) I was not informed of the tenant’s September 19th 2019 notice to vacate until November 5th 2019, which (coincidentally?) was after the deadline that would have allowed me to cancel the management agreement without a $500 penalty. 

Finally, while I acknowledge that it isn't a PM's responsibility to rehab at the lowest possible cost, I feel that they lean too far in the opposite direction. For example, I arranged a house and yard cleanout from a third party for $900, after Alpine had quoted me $1,550.

Thank you, everyone!

Will I need to get a home inspection for a 50k cash out refi on a 220k SFR rental with existing owner-carry financing, that was built in 1923? In the past, I've only been required to get drive by appraisals. But I don't recall if those were with the same bank that carried the original mortgage. Might owner-carry be treated differently because the purchase was less likely to have been fully vetted? If the answer is "it depends", are the variables known? For example, does seasoning or big vs small bank play into the equation?

Thank you!

I've been opening a lot of credit cards this past year (for the sign up bonuses) and also manufacturing spending (significant creative spending on cards that I then pay off in full). Wondering if anyone here has managed a commercial refinance while engaged in similar behavior? I'm documenting all of the related transactions and am fully prepared to explain my behavior. 

I've only browsed it so far and am wondering if, aside from opinions about whether or not the bill should be supported conceptually, has anyone identified unexpected issues that it's passage will create?

https://olis.leg.state.or.us/liz/2019R1/Downloads/...

@Gordon Forbes, I only have the basic rent agreement and the pet and smoke detector attachments.  I didn't purchase all 66 forms so I can't speak the package as a whole. What I can say is that  I wish that they were available in word format so that I could make changes. Also, I would like the option to send and receive notices by email which isn't an attachment that they offer. While I can see why ORHA's goal would be to aim for certainty in court my preference would be to have forms that deliver certainty in addition to some grey areas that may or may not result in additional benefits when court becomes necessary. 

@Shadonna N. If you only measure the hot water heater output, you miss the cold water use. Keep in mind that when warm water is run in a sink, it isn’t all from the hot water heater. It’s a mix of hot water from the heater and cold water from a different supply line. 

That being said, if your property is in an area that allows you to charge on a pro ratia basis, you could charge accordingly. For example, if tenant A used 35% of the hot water and tenant B used 65%, tenant A would be responsible for 35% of the total water bill and tenant B would be responsible for 65% of it. 

That is quite an increase! You may have a leak instead of a wasteful tenant. But even at $500/quarter it’s probably worth sub-metering.

True Submeter has multiple options so if what I explain doesn’t seem like a perfect fit, it doesn’t mean that they don’t have a solution. The options I explored ranged from identifying and metering a single water source to metering each point of use.

The point of use meter is basically an insert that goes into the supply line coupled with a box that is about the size of a small fist. My handyman installed them but I believe that a good analogy for someone like myself who isn’t familiar with plumbing would be adding a short connector hose with an attached meter, either between two hoses or between a faucet and a hose.

It is easy to access the supply lines for toilets, sinks, dishwashers, washing machines, and outside spigots. But because the lines to the tub/shower are hidden behind the surround or wall, metering them would necessitate one of the following:

1) Demo to access

2) Don’t meter the tub faucet but do meter the shower head by adding a meter between it and the wall. (Maybe “awkward” was an unfair assessment. I imagine them to be a bit like a shower head water filter but I haven’t actually used one.)

3) If the unit has its own hot water heater you can meter all of the hot water use from that and then the cold water at individual points of use. You would not be able to do a shower head meter in this scenario because instead of measuring the supply lines the shower head unit measures the output which includes both cold and hot water, the latter of which you would already be measuring from the hot water heater.

For any readers who are as utterly clueless about plumbing as I was, you can see these supply lines by looking at the back base of your toilet, under your sinks, and on the top of the hot water heater. You don’t have to know how to identify or explain them. Just send photos of them to True Submeter and they will tell you which meter is compatible with your setup.

I hope this helps!