All Forum Posts by: Jared Kotler

@Jennifer Shen REI NATION, JWB PROPERTIES or RENT TO RETIREMENT. The only one's I'd go with

@Sean Delagrange always name it the property address. Nothing else. Makes get confusing on an income statement. Name your holding company something cool. Mine is Marchon Holdings. But I have 56th Street Apartments 1135 S 55th Street LLC, 5459 Cedar Ave LLC and 35 others. Name it the property address. You'll be thankful you did.

@Cyrus Shaw PCS

I have an apartment building I bought 1 block from a small hospital in West Philadelphia. How would I go about finding tenants? Seems like it's still an airbnb game. Is there another resource for that specific type of tenant? I did call the hospital itself, but they don't seem to get involved in housing. 

Hey biggerPeople... love y'all cats. So, that's out of the way,

I bought a triplex. The previous owners didn't want to fix boilers so they put electric baseboard heaters in the apartments. Winter comes and my tenants are getting $300, $400 electric bills. I'm renovating the building as the units come up. So, question...

1. I can fix the radiators, gas, have 3 zones one for each apartment that will cost $13K
2. I can install HVAC on the first and third floor with ducting and 2 ductless units on the second floor
3. I can leave it. 

I'm curious if in the winter will my tenants get the same kind of electric bill anyway? Will it be that much better in a cash out refi? 

I always just do the property address. Each one I buy is in it's own LLC. It's annoying for sure, but each entity gets it's own bank account, credit, debit card, then transactions auto populate in whatever management software you use. After a while, the names get confusing so, 5325 Baltimore Ave. LLC. I have a triplex on Cedar St, so that's Cedar St. Apts. LLC. Soooo much easier that way.

@alecia loveless so no LLC? How many mortgages can you have in your name? Cool name by the way.

Thank you all.

Fact is, I'm sure I'll forget to bay common area electric or shovel the walkway. So, you're probably all correct. Pay more, cover my arse, and write another hit song. Thanks John. The force runs strong through you it does. 

I mean, come on folks, I haven't been in the forums for a while, and maybe someone asked this already, but on a 300K purchase the difference between non-recourse, 5,7 year fixed 25 year am, and a 30 year set it and forget it conventional fixed makes or breaks the P&L. 

What do I do? Suck it up and pay $1,700 a month for protection, or $1,200. Property brings in 3K. It's in west philly, and if someone sues me, isn't what insurance is for? I could overload on that for like $150 a month and still be better off. Thoughts? Or, does everybody hate me already... Cheers!

@Whitney Hutten

I’m new at bigger pockets forum. I reached out here with a PM, and on your personal website. I just realized how to reply, so here’s a third reply. I appreciate your time, would love to reciprocate and look forward to discussing this matter with whoever you feel can help to get this

Again, thank you and l look forward to taking actionable steps with any recommendations you provide.

Best regards,

Jared.