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All Forum Posts by: Kevin R.

Kevin R. has started 5 posts and replied 25 times.

@JD Martin@Troy Sheets @Ethan Giller @Jonathan Andersen So I'm taking your advice and getting a few quotes for installing three gas furnaces and corresponding ducts. I'm thinking there are two nice bonuses to this method: (a) I don't have to deal with AC wall units later (assuming I add AC in addition to the heat) and (b) some tenants will probably actually like the "exposed ducts" look of the units. I'll keep you guys updated...

@Jonathan AndersenGas and electric are both currently metered separately to each unit.

@Troy SheetsI figured you'd pop in with some solid advice as you are apt to do! Would you by chance have any reliable local HVAC guys who provide solid work and fair pricing?

Originally posted by @JD Martin:

If this place will be a cash-flowing cow, I would go for individual heating systems, whether that is separate gas furnace/heat pump systems or the Mitsubishi-type localized units. Then, with each unit individually metered, you have tenants taking care of their own utilities. And even Philly gets hot in the summer, so you really want to have AC in these units. 

Thanks for your input, Jd. I definitely plan to go with individual heating systems. The issue for me now is determining which of the options is best going forward.

Originally posted by @Christina Welch:

Have you looked into putting a Ductless mini spilt heat pump into each unit? The electricity bill will be a third of what it would with baseboard heat, energy efficient heating and cooling can be a big selling point for tenants. Check out if the power company in your area offers rebates, ours offers $1200 for each account. We are installing them in ours ourself, if you're an experienced do it yourselfer you could put it on yourself and save a lot of money.

Thank you for the feedback, Christina. Unfortunately, I don't believe Philly currently offers any rebates for installing mini splits. I am definitely still considering mini splits as an option, though.

I guess another option might be to buy three separate steam boilers and just run separate lines to each unit. Any thoughts on this strategy?

Due to the great wealth of information and helpful people on BP, I was able to get my first home under contract last weekend. Here are some basic details about the property:

  • $230,000 triplex (one unit per floor)
  • Built in 1925 and located in Philadelphia, PA
  • 2,550 sq ft
  • Radiant heating w/ steam boiler (no ducts or AC currently installed)

I just had a home inspection and was told that the steam boiler is in pretty bad shape (which leads the inspector to believe that the radiators may have some issues as well due to lack of proper maintenance). In addition, he told me that there is currently only one thermostat for the entire house, and that it's difficult and expensive to zone on a steam boiler. With that in mind, I need to figure out what to do going forward. I can see the following as options:

  • Get rid of the steam boiler and install high-velocity AC/heating (seems like the best, but PRICIEST, option)
  • Limit steam heating to a single unit and install electric baseboard heating on the other two units (perhaps the most cost-effective way to go, though I would still have to install separate AC window units)
  • Limit steam heating to a single unit and install ductless mini-split AC/heaters on the other two units
  • Repair/replace the steam boiler with another steam boiler, fix any radiators that have issues, and keep the status quo without zoning heat (not ideal - I can already imagine the third floor being one extreme temperature while the first floor is another)

I'm really new to all of this and at a complete loss right now for how to proceed. Any advice or recommendations from the BP community would be greatly appreciated. Thank you!

Post: Philadelphia buy and hold

Kevin R.Posted
  • Philadelphia, PA
  • Posts 25
  • Votes 1

Hi @Lan Huynh. If you're looking for a Philly-based realtor who knows his stuff, I would highly recommend @Lucas Pfaff. I'm currently in the process of closing on a triplex with a different realtor (who I unfortunately found before connecting with him), but I've been going back and forth with him via PM, and he's been an invaluable source of knowledge for a first-time homebuyer.

Post: How to Analyze Duplex in Minneapolis

Kevin R.Posted
  • Philadelphia, PA
  • Posts 25
  • Votes 1

@David K.Hi David - would you mind sending me the spreadsheet as well.

Post: How to Analyze Duplex in Minneapolis

Kevin R.Posted
  • Philadelphia, PA
  • Posts 25
  • Votes 1
David Moore would you mind sending the spreadsheet my way as well please?

Post: New Flip East Falls.

Kevin R.Posted
  • Philadelphia, PA
  • Posts 25
  • Votes 1

Nice looking property. Did you put in the brick walls after the fact, or did you just work with what was already there?

Post: Crunched some #s for my first property

Kevin R.Posted
  • Philadelphia, PA
  • Posts 25
  • Votes 1
Peter Amour Very helpful feedback - thank you!