All Forum Posts by: Jay Smith

Hello, I’m finishing up on a property and will be ready to refinance the property to pull my investment out. Originally I was going to do a cash out refi with the loan officer at a local bank, but I found out about lenders that will loan money base off the operational income of the property. Do anyone know or are lenders in Michigan the do “debt service loans” 

I need some advice.I’m in the metro detroit area and I’m looking to purchase this multi family property that only has one furnace for both units, water and electric is separate. My question is I guess will be responsible for the gas bill, how would i price my rents to reflect the gas bill. And which tenant will control the thermostat. As a landlord have you experience tenants having conflicts on what the temperature is set to. Or is there a way to Governor the temperature

I got a rental property under contract, it a multifamily  2 unit. The 2 unit will have to share the Furnace and hot water tank. In my area the Landlord is responsible the these Utilities, how do i Determined these rents for utilities the those until.

great deal and was purchase at a great price. I love ROI of 19% and better, slam dunk!!!