All Forum Posts by: Jim Bice

I will check that out thank you.

Thank you all for the suggestions and discussions. At this point we are just going to remind the tenants to be mindful of windows and doors. It has been a cold winter here and we will average out the cost in the next leases

@Nathan Gesner

That makes a lot of sense. The heating bills were lower last year but it was a milder season. I sent a letter to the tenants to be mindful of leaving windows and doors open. I don’t plan on doing anything until summer and I might just leave it the way it is. My suspicion is one tenant might be opening a window to smoke when we clearly stated no smoking. We advised them we needed to get into the apartment to check the storm windows so that might resolve the problem.

Great idea, I thought about mini splits for each unit but that would be about $17-$20k and wouldn't be worth it. I would need to make sure there would be enough power for each unit to run baseboards. Thank you for the suggestion.

Not sure if I would raise it yet. Possibly when their lease is up. It still cashflows and the summer months should make up for it. 

@Nick Rutkowski

I think I can monitor each zone for the flow of water but unable to bill for gas. I thought about locking them but I feel they might try to vandalize them. Keeping them in a central location might work better. Thank you for the suggestions

Hi all, my wife and I, after many years of analyzing, finally purchased an 4 unit apartment in western NY. Now that we are deep into the winter months we have noticed our heating bill (gas) continue to go up, our latest bill is over $400. We have a single boiler system with four zones and looking for advise or suggestions to lower the gas usage.  One thought was to move the thermostats from the apartments to a single conditioned space and place temperature monitors in each unit to make sure the apartments are at a comfortable level. We are not sure if one apartment or some are leaving windows open of if something else is happening. We have sent letters to each tenant asking them to be mindful and, if needed, to let us know if they have a maintenance issues with a window or door. Has anyone done this? Is there any other suggestions you may have?

Thank you

Jim 

Finding the Bigger Pockets podcast and watching his webinars ignited a passion that I always had about real estate. He showed us the path to creating a life that you wanted to live and create. I am very grateful that Brandon and David shared their experience and taught us about how to create it. He created a life for him and his family where they can choose what they want to do and good for him! I’m sure he will be around sharing his experiences. I will look forward to listening to David and his guests.

@Jeff Stansberry I use Pheterson Spatorico LLP.

He is out of Rochester NY

Hello all, I am putting my team together and looking for recommendations for a CPA around Rochester NY (or surrounding area) who is knowledgeable with real estate investing. I am currently in contract for my first investment property and want to discuss my options.

Thank you in advance.