All Forum Posts by: Kristin Caras

@Monique O'Dell perhaps not that original but the best mindset books for me were: the Four Hour Work week, Rich Dad Poor Dad, Cashflow Quadrant, Set for Life by Scott Trench and more specifically real estate: How to Invest in Real Estate by Brandon and Josh is great.

Thank you all so much! I think without intervention we would most likely be ok, but our property manager is going over today to turn the water off to that unit and drain the pipes just to be safe. I would hate to have some sort of disaster happen that could have been easily preventable. I really appreciate all of the feedback, I learned a lot from this thread!

Thank you all! There was a bad storm up that way so a lot of people are without power bumping us now 7 days out with the electric company.

Unfortunately I’m not local to the property, and we just turned the property over to a new property management company last week. I will check with them on if we are able to turn the water off to that unit (they are separately metered) or at the very least let the faucets drip.

On one hand I think being that the unit is next to and above heated ones it will be OK, especially if the danger zone for pipes is 20 degrees and the temperatures look like they’ll be in the 30s for the week with only a few dips. But on the other hand I’m losing sleep over this and turning off the water entirely would be good for my sanity!

@Todd Rasmussen thank you very much!

@Bjorn Ahlblad the unit is above and next to a heated unit...the lowest temperature I see in the forecast for the next 8 days is 17 degrees (this is likely overnight). Some quick research online suggests that pipes are pretty resilient up to 20 degrees. I’m hoping that the unit will be ok being that it is mostly heated in the meantime.

@Marcello Di Gerlando thank you for the suggestion! I will have to research those heaters. I have a property manager handling the property and I’ll see what they think. I’m not sure if they would consider space heaters or any sort a fire hazard, especially left unattended.

@Todd Rasmussen that’s a great idea, I will check with our property manager and see if they can turn off the water. Do you think it takes long to drain fully from the pipes after turning the water off?

@Johnnie Hawkins as some have said, check out The Millionaire Real Estate Investor. The philosophies in that book are very similar to the BiggerPockets methodology condensed into one book. Aside from that any of the books by BiggerPockets publishing are great.

I have a property that has 3/4 units heat turned on. Unfortunately, a tenant left and didn’t pay his electric bill. The soonest the electric company can come out and turn on heat to the unit is 8 days from today.

The property is in upstate New York and it is going to be below freezing on and off for the whole week.

With 3/4 of the building heated, do you think there is reason to worry that the pipes may freeze before then? Would space heaters temporarily help?

Any advice is appreciated.

@Charlie Moore Send them a formal letter stating why they’ve been rejected (make sure you aren’t violating any discrimination laws in doing so).

@Greg Grochowski I agree that a for rent sign advertising a vacant unit can be asking for trouble. However, many people have success with this method-just something to keep in mind.

@Joseph D Chapman one of the main reasons I upgraded to a Pro account was for the unlimited calculator usages. Once you’re really ready to buy or at least start seriously looking and practicing running numbers I would say the calculators alone make it worth it!