All Forum Posts by: Account Closed

@Aaron Schrader

Interesting!! Thanks so much for your advice... REALLY appreciate it very much!! I never even knew or heard of "mini splits" before because I didn't know what it was. I just had to google it LOL. Very cool! When you mentioned "he even had two furnaces that ran independently for each unit"... I assume that furnace was inside the "mini split"? As from what I understand, "mini splits" can both HEAT and COOL. So therefore I assume the furnace would be a function of the "mini split" or did he had a separate furnace in addition to the mini split"? Just making sure I understood you correctly :)

I also just googled: "What Are the Differences Between a PTAC and a Mini-Split?" because I assumed most hotels must also use this "mini split" system but I see they don't (hotels use PTAC). After reading the below article which explains the difference I see that the "mini split" system would make more sense for a house that was converted into a duplex :)
https://www.ny-engineers.com/b...

I wonder why the AC guy I spoke to earlier didn't mention anything about "mini splits"! I'm going to call him back and pick his brain... I'll report back here what he says incase it might be additional good info in relation to my AC investigations! haha

After making some calls I spoke with an awesome and very helpful AC guy. He said if I convert a house into a duplex and I (the landlord) live on the 2nd floor unit whereas tenant lives on the 1st floor unit... I can have a second thermostat installed so that the landlord and the tenant can control their own preferred temperature. This can be done by installing additional duct and computer system bla bla... so the AC would behave sort of like the AC system in a car where the driver and passenger can control their own separate temperature.

So if landlord wants COLD air blowing on 2nd floor unit and tenant wants HEAT in their 1st floor unit... this can be accomplished without having to install a second ac handler. Cost would be about 4 or 5k... worth it or am I nuts?

Also turns out you CANNOT install additional AC handler into a house... that would cause a lot of problems and be EXTREMELY expensive because it just would not work to make long story short... but this other option (adding second thermostat and additional duct that allows separate temperatures in each unit) I think it seems great!! :)

@Chad Rocke

Thanks so much for your reply! That sounds like a great way to handle electricity/water... but my BIGGEST hang up is the AC handler situation! =(

I have stayed in an airbnb before where I had to stay in the guest bedroom and it was a NIGHTMARE not having control over the AC temperature as I did not have access to it at all. If I were a tenant, there is NOWAY in heck I would EVER pay to live somewhere if I knew the landlord was going to be controlling the temperature in my home. Hence why I am very confused why so many people claim you can charge MORE rent if you are renting out a space in a house (if that house was converted into a duplex) that is in a nice neighborhood instead of renting out a unit in an apartment complex? Am I nuts or am I missing something?

...and I can imagine that it would NOT make financial sense to buy a separate AC handler in order to create separate AC for the tenant if a house was converted into a duplex?

I would love to house hack... but because of the AC situation I'm fearing that house hacking might not be for me... unless I had a separate detached dwelling of course... 

For those who convert a single family house into a duplex (for example let's say you take a two story single family house) and covert it into a duplex by adding a second kitchen, separate entrances to the house and of course the house would have two separate garages (I'd live on the 2nd floor and the tenant would live on the 1st floor)... I get all that... but what about separating the water and electricity? As tenants have to pay their own water/electricity. Not only that, but how on earth would the air conditioner situation work as I don't see how tenants and the landlord could operate a single AC handler since of course everyone prefers a different temperature.

I see a lot of people house hacking... but I'm trouble understanding how I could make it work due to the above 3 issues?

Thanks in advance for your input! 

Hi there, I would be extremely appreciative of some help here. I feel dumb for asking the following but I'm using the BP renter calculator and I'm having trouble figuring out what numbers I should be entering into the renter calculator tool because it does not give me an option to specify what the ROI would look like if I use a refi on the property in order to leverage it so I can buy additional properties:

In 2017 I bought my condo (all cash) as a foreclosure for 165k (this includes closing costs). I then spent 35k to rehab it (so total out of pocket cost for my condo was 200k).

My condo is worth 325k today and is in a super nice upper scale area. Even though my ROI wouldn't have been the best... I REALLY regret selling my condo recently and wish I had done BRRRR with it instead!!

This shows what the numbers would have looked like if I had kept my condo and simply rented it out:

https://www.biggerpockets.com/... CoC ROI 4.8%)… that is awful!! How can it be possible that the ROI is this bloody low!!?? Did I enter the numbers correctly?

I'm basically trying to figure out, using the BP renter calculator tool, what my ROI would have been if had leveraged my condo using a refi (for 165k) while renting it out in order to acquire additional properties… I'm having trouble with the BP renter calculator…. because that calculator doesn't give option to specify what ROI looks like when leveraging the property with REFI…. Hope I'm making sense…. I'm having trouble figuring out what numbers exactly do I enter into that calculator....

Sorry for my long post. Thanks so much in advance!!

I'm trying to get better idea on what what type of properties (in general) got hit with this asinine eviction ban the hardest. Safe to say properties under 350k range? Sorry if this is dumb question... but based on what's going on right now it makes me nervous for the future (as a landlord) especially since I doubt something like this won't happen again in this messed up world!