All Forum Posts by: Kevin Miller

I have some condos with individually metered water bills. I have been collecting the payments from the tenants using Cozy but have recently placed the condos under management. It would be easier to have management collect both rent and utilities thru their portal. The water department can't transfer the water bills into the management company's name since they want the name on the bill to match the deed. Should I simply forward the bills over to management for collection or is there a better way?  

We went with Tim Hoffman from HomeSpec. reasonably priced and he does great work

Multifamily inspection: what is average price per unit? We are under contract for 27 units spread out over 4 buildings and the biggest local company is quoting $227/unit which is hefty for basic scope of work. No pest inspection, etc. Wanted to see if this is the norm or am I getting hosed and need to look elsewhere? Waiting on getting quotes from other companies. I’m in Ohio.

I understand the lender will do their own property condition assessment but I don’t want to rely on that alone. Thanks!

Update: got a quote from Seagate. They are pricy at $227 per unit for a pretty basic scope of work, no pest inspections, etc. Definitely shopping around for other quotes. I understand the lender will do their own property condition assessment but I don’t want to rely on that alone.

Depending on the value of your duplex I would cash out refinance it. That leverage alone probably won’t get the deal done. Have you thought about syndications or crowd funding to raise more capital? 

We just went under contract for 33 units and need an inspector experienced with multifamily. The guy we typically use does mostly SFH and I think this is just too big for him. Would welcome any recommendations, thank you!

Ron from Westgate Inspections is very thorough and gets your report back to you same day, highly recommend him.

@Michael Temple thank you for the insight. We are planning to go to the monthly meeting on the 14th, but will also plan to make it to the Friday breakfast. Hope to see you there!

Hello everyone! I wanted to introduce myself and thank everyone for all the information you've shared in this forums. I'm a long time lurker. Started investing in multifamily earlier this year with my wife and we currently have 8 units. We are aiming to scale higher, and are now actively pursuing smaller apartment buildings (20-50 units). I know relationships are what's most important in this business, so we are planning on joining the local REIA. I've heard of the property investors network (PIN) as well. Any major difference or advantages over either group? We are looking to connect and find mutually beneficial relationships with multiple real estate professionals in the multifamily space. Thanks!

I am working on a deal for a 24 unit commercial building and need recommendations for commercial mortgage brokers and inspectors. Any names would be great. Thanks in advance!