All Forum Posts by: Katherine Rossell

Whose managing your property in VT? Are you making money off it, is it going well? Only you can make the decision of where and what to invest in, but it would be helpful to start analyzing properties and your existing condo now so you get the idea of the cash flow being made in each area and how it fits your goals. 

@Steven McPherson, I analyze deals by looking at Realtor.com and then asking my realtor to send me the MLS. I will use the numbers on the MLS to identify if it is a good buy and hold property. Then I set up a time to look at the building and make adjustments that way.

Thats pretty much what I am doing now. I am looking at houses every day and doing the analysis but if I can't get the financing I have not been making any offers. 

Thanks for responding! 

I hear from all of the more seasoned investors that we should be analyzing and making offers everyday because if we don't make offers we wont get the deal. Brandon has said this on the Bigger Pockets Pod Cast many times. 

When I look at my own situation, I just can't see how I can be making an offer on a house every day, because I don't know where I would get the money from. If I don't have the required down payment is it worth me making the offer? I guess I could make the offer that the seller finances some of the money behind the bank. 

What are your thoughts? How do I make offers everyday and is it a good idea? 

I say rent it out and advertise it as being close to the bus stop. Take this as an experience and a learning lesson (a good one for me too). 

I am not sure what city you purchased this building in, however, my experience in some other small run down cities in Vermont (depending on where they are) is that there are lost of clean, honest, people mixed into those neighborhoods. 

And lots of younger people don't have or want cars if they are in the city. 

Michael H. Yes, there are a fair amount of multi family buildings in Vermont. There are more in the "larger" towns where you can walk to grocery stores and other local shops. However, there are not as many apartment complexes with 30 or more units.  

Thank you all for responding to this. I definitely should have done a little more research. We wanted to go ahead and close on this house because even with us paying for the heat we would be cash flowing $600 a month after all expenses and reserves. 

I thought that there was a way to put a meter on each one of the pipes that goes to the separate apartments and the meter would tell how much the tenants used. If that was true, I could send the tenants a bill each month with the reading of the meter. Does this even exist? Has anyone done this? 

Eventually I do want to have the tenants responsible for their own heat. I will look into putting in electric heaters, putting in propane wall mounts, and getting separate boilers and oil tanks for each of the units. Yes, all of the tenants have their own electric meters. 

I am closing on a three unit in the end of July. The building only has one boiler for all of the units but has separate pipes (sorry I don't know the correct term) going to all of the units. How do I submeter them? What company/brand should I use? 

Most importantly, how do I add that into my lease? Will the tenants have to pay me monthly for the heat they use? How many days do they have to pay it by? What happens if they don't pay it? 

Any thoughts would be appreciated!! Thanks :) 

Keep us updated on what ends up happening with this sale. I am curious to hear how you made this deal work. 

Thanks

Katy 

As far as I can tell, all of the listings on the website are also on the FMLS. But I am not that familiar with it.