All Forum Posts by: Justin K.

If they're including gas & electric I would assume they're not split out. So you would need to include the monthly averages in your estimated expenses. Check out CrimeReports.com & City-Data.com

Looks like a great venue! I likely won't be able to make it this time, but look forward to attending in the future.

I think most use Kilz oil based primer to seal the smell.

No good ever comes from government interference in the market.

@Burach Nussen Thanks for mentioning the sale, I was unaware. I picked up 4 Hour Work Week and 10X.

I tend to put books on my wish list based on the 2 books mentioned in each BP podcast. If there's nothing I want when I finish a book then I'll pick one of those. At the moment I'm listening to, "Give and Take" by Adam Grant. I have 30 books in my library so I've already read several of the BP books as well as 5 by Kiyosaki. Most of them multiple times.

@William S. Snow removal is a landscaping company I'm paying to snowblow the driveway, 6 car parking lot, and sidewalk. The gas is paid by the landlord because the property only has one meter per building. I plan on having it checked out to see if I can have it split out per unit. I also plan on renovating the units some between tenants to increase rents and reduce minor maintenence issues.

A lot of great points on a LOC and reserves. Any opinions on this particular deal?

A preexisting tenant takes care of the very small lawn. Garbage is part of the taxes.

Below is detail on a property in Niagara County , NY. I analyzed this property earlier this year and just closed on the deal last month. I have some lessons learned including the expectation that I was not as conservative with the maint/CapEx/Vac as I should have been for a multi-building lower income property. I'm curious to hear what the community has to say. Thanks!

The property consists of two detached buildings. The front building was built in 1900 and has a 2 BR unit lower (current rent 675) and a 1 BR upper (current rent 500). The back building was built in 1920 and consists of 4 1 BR units. The property has mostly new furnaces and water tanks. Some new windows, and a moderate amount of smaller differed maintenance (broken door handles etc). These are lower income apartments with 3 units receiving Sec 8 assistance.

Purchase Price: 157,000
Units: 6
Annual gross: 38,340
Taxes: 4,547
Gas (Landlord): 2,380
Water: 2,280
Insurance: 1,708
Maintenance(5%): 1,917
Snow Removal: 650
Cap Ex: 1,200
5% Vacancy: 1,917
Debt Service: 860