All Forum Posts by: Gabriel Morales

@Nathan Edmonds I came here to ask that exact same question lol, I am considering paying the 250 a month. Were you able to get any additional insight/info regarding this? Did you end up getting the course?

0 Votes

Where can I find a move-in tenant checklist to provide to tenant?

0 Votes

Quote from @Chris Levarek:

@Gabriel Morales As mentioned, there can be laws that allow or don't allow RUBS which is Ratio Utility Billing System or spreading utility costs according to sq footage for example. For example, areas in Greensboro, North Carolina it is not permitted.

Submetering or using monitoring tools at the line or water entry to sink, toilet, etc. can be another way. This uploads data to a online cloud platform which you then can send invoices or billing with. Alot of this is more common in apartment complexes or larger properties however.

Running another line is very pricey so IF you find RUBS or submetering is out of the question, you can however, add in a property management fee or the like which could help offset some of the cost...Or simply charge more rent. Either way have it on paper and documented so nobody is unaware.

Reviewing the AZ landlors tentnat act, we can utilize RUBS or sub-metering. What is submetering? A device I install, can I google it>?

0 Votes

Tucson, Arizona

Quote from @Theresa Harris:

Quote from @Gabriel Morales:

Quote from @Theresa Harris:

Is it just electricity that is on one meter or is water the same? For water, I'd base it on number of people living there, for electricity, base it on number of bedrooms or square footage. How are the homes heated and cooled? Gas, electric?

As long as you write it out in the lease and it is transparent, you should be fine. I wouldn't include it as part of the rent as people have a way of abusing it.

Thank you there is only one meter for both units. It is electric. How would I determine usage by the # of people there?

You could either divide it 50:50 if the two units are comparable and have similar number of people (eg both families with 2 adults and 1-3 kids) or by space. Don't make it harder than it needs to be.

Thank you, I think that is what I am doing lol, I was just going over the landlord tenant act for my State AZ, and I actually can do sub-metering or a rubs system.

1 Vote

Tucson, Arizona

Quote from @Christopher Jason Lloyd:

I would use percentages of sqft for electric/nat gas, # of occupants for water and a flat fee for trash services. You could look into submetering.

The real question is how much are you willing to spend for convenience which varies person to person. Is it worth the cost to you?

Thank you! Makes sense

0 Votes

Tucson, Arizona

Quote from @Theresa Harris:

As long as you write it out in the lease and it is transparent, you should be fine. I wouldn't include it as part of the rent as people have a way of abusing it.

Thank you there is only one meter for both units. It is electric. How would I determine usage by the # of people there?

0 Votes

Tucson, Arizona

Hello, Just wanted to hop on and see if anyone can lend some help on how to proceed in this situation.

Just closed on my Duplex, although its not really a duplex it is a 3X2 SFR with a 2X1 ADU. Didn't realize until after that there is only one meter. I can get that taken care of as I have the contractors that will do it, and estimates. However in the meantime, once I get a tenant, how do I go about the bill, since the electric will be in my name. And it is a house hack so i will be living in the ADU for 1 year.

Any advice is helpful.

Thanks

0 Votes

Tucson, Arizona

Hey Bobby, thanks for that, makes sense. How are you figuring 7% vacancy rate?

0 Votes

Hello All,

I hope you all are well and staying safe out threre! I am a Realtor in Tucson, Arizona, looking to purchase a 3 plex for my own portfolio. This is my 1st time purchasing a multi-family. I am utilizing FHA 3.5 down. I found a triplex that I like and want to make an offer but want to make sure it would be a wise investment. The property is listed for 299,900.

Unit 1	$635	1	1-0	589sqft	1st	No
Unit 2	$700	2	1-0	705sqft	1st	No
Unit 3	$750	2	1-0	619sqft		N

Gross Scheduled Rent: 25,020
Vacancy Loss: 0
Other Income: 0
Adjusted Gross: 25,020
Total Expenses: 6,793
Net Opp Income: 18,227Analysis
Cap Rate %: 6.08
Gross Rent Multi: 11.99
Vacancy Rate %: 0
Exp/SqFt: 4.12
Exp % of Gross: 27.15

And rents can be pushed up to market rate. How would I evaluate this?

1 Vote

All Forum Posts by: Gabriel Morales

Gabriel Morales has started 3 posts and replied 9 times.

Post: Brian Page's BNB formula

Post: Rental/Tenant Check list

Post: What To Do If Your Duplex only Has One Meter

Post: What To Do If Your Duplex only Has One Meter

Post: What To Do If Your Duplex only Has One Meter

Post: What To Do If Your Duplex only Has One Meter

Post: What To Do If Your Duplex only Has One Meter

Post: How To Analyze a 3 plex To Purchase For my 1st time?

Post: How To Analyze a 3 plex To Purchase For my 1st time?