All Forum Posts by: Justin Harrod

This is something I'm looking into as well - however for me it would be a partnership between my mother and I. I wonder if anyone has advice on the best way to structure that. We would be using her home for the HELOC and I would be doing everything else.

Structure a separate LLC or partnership that acts as the holding company and has docs that state how profits/expenses split? This seems to keep her home protected (of course we have to make sure proper debt service). If anyone has thoughts please let me know as I am also interested in this topic

@Olena McCormick

What day is this?

@Wai Chan

I work for a local water department as a meter reader, I would say @Dan H. is pretty accurate with $100-$150  a unit (this of course depends on water rates and if you're billed in gallons or cubic feet). I would say low end usage for most people is around 1100 gallons a month per person without landscaping. Lawns and garden will drastically increase water usage. 

I would also agree with @Seth Borman that getting low flow fixtures will also be a good first step; most departments and the SDCWA will offer rebates to assist with cost as well! I installed a free low flow toilet in my rental thanks to rebates a couple years ago.

Sub-metering can be great but there are factors to be aware of. You will not be able to shut an individual tenant off if they do not pay, you would need to make sure your lease is iron clad on how you handle non-payment of water. I like the idea of sub metering as an accounting and informational tool, however to keep it simple it wouldn't be my first step.

This thread has been awesome!

@Blake La Grange Thanks for doing the case study, and being so transparent about it! I have looked into turnkey myself and actually stumbled upon this thread by researching Spartan. Hope you keep us updated as this continues to progress. 

Hi All:

Seeking to learn more, analyze deals, connect with like minded people, and of course grow a real estate portfolio. I managed to pick up a condo here in SoCal which actually cash flows! However, because of the pricing in this market I cannot expect to find something else that cash flows like an out of state property would. Love to chat with anyone about anything! So with that in mind what are the hobbies you invest your free time in?