All Forum Posts by: Firyal Kassim

hello, I’m still a newbie

BLUF: Seeking a cost effective way to handle the execution of leases; something like Docusign.

Also, Id like to take my game up one or two notches ! Is there a landlord management tool/ software/ platform that BP highly recommends?

Thank you.

BLUF: asking for talking points to take back to the Sellers and my buying agent to ‘renegotiate the deal’ to ultimately still purchase the property, but for less - what’s a reasonable ‘ask’?

Background: 4 residential unit. closing planned pushed a month due to COVID19. currently - 3 units vacant - want to narrow the sale down to the mortgage equal to the rent paid by the one tent at. I’m okay with 0 cash flow for the unforeseeable future. the plan was to rent shortly after closing, but likely difficult getting renters in the next few months due to COVID19. if i get a tenant be ‘quality’ tenant might not be there.

Need to make this mutually beneficial for both the buying and selling agents to advocate on my behalf. I believe the property is free and clear.

thank you.

Okay - disclaimer - I’m a proud newbie!

BLUF: What’s the best strategy to market and rent a storefront property.

Background: this is a 4plex with 3 residential units and one storefront - it’s zoned appropriately.

Situation: I’ve used Zillow’s apartment.com and TurboTenant for my residents unit - with much luck, however, not much luck so far for a my storefront. Tempted to convert to all residential - based on e-commerce and such - but that would be another question for later.

Thanks you and everyone please wear a mask.

😷. F2K

OK - Hope I categorized this appropriately!

BLUF: used the BP calculator but inputs (rental history, expenses - still unknown; I guessed) should I set some scenarios and go? tried this!

background: Four plex; gas and water by building owner. high cost; hard to rent?!

one unit rented (the others - no history) high gas bills (adds to each unit a $150 (gas) and water $50 roughly) making it expensive to live there (I think).

according to rent0meter I should be charging $725/ month, making it $925! now with these high utility cost (building systems and bad windows makes it a bit inefficient) will I be stuck without renters? is this reasonable - it’s pittsburgh. with one boiler and 4 units, they really can’t control the cost). some room to do some things there - thermostats for each radiator - roughly $200 a pieces, 14 needed - easy. otherwise ‘double hung’ thermostats - the open the windows if too hot!

I budgeted replacement of 2 bathrooms and 2 kitchens and the replacement of 7 windows - all OK.

should I walk away??

assuming some clarifications are needed here. I’m not emotionally attached to the building, but don’t want to walk away until I have a chance to hash it out with a few pros! need some help walking/ talking this through? thanks

Thanks everyone; John, Evan, Slocomb and Todd... many great points here. I will definitely look into the RUBS. just to concur with Slocomb, yes all tenants do pay their own electric so the electric baseboard is certainly an option. I may have to seriously consider upsizing the electrical services to support baseboard heaters it’s a viable option and localizing that heaters in the units themselves. need to look at this for gas and water.. so thanks again. 

Hello Biggerpockets Nation!

I’m really new to this and grateful for the help.

BLUF: I’m needing help figure out how to meter 4 units with one boiler. ugh!

background: the one boiler supports all the radiant heaters in all 4 units.

there are 4 meters in the building. I believe they just run to the kitchen for a gas stove. one of the four meter services this one boiler.

How do I meter separately?

thanks