All Forum Posts by: Lyle Silverman

@Lyle Silverman I would inspect before closing to see that it is sized for a triplex with the number of bedrooms on the property. Accumulate the savings from the water bill you won't be getting and set it aside for pumping and maintenance. Don't have the tenants be responsible for the well or the septic. Schedule that yourself and communicate back and forth with the company. Septic systems and wells will last for a very long time if maintained properly. No excess food down the sink and no garbage disposal. If you have roots in the tank your capacity will be reduced. Flush copper sulfate down the toilet (not sink) every year or two to dissolve the roots.

Thank you Bjorn! Pre-closing inspection is a must for me, no doubt. Really appreciate the rest of the tips.

All the research is pointing to it being a pretty manageable item as long as it's cared for.

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What's everyone's experience with septic tanks? Just curious as I have no experience with them at all and it hasn't scared me away yet from a 3 unit property that I just put an offer on.

My main takeaways:

Need strict rules in lease about what can be used for toilet paper, laundry frequency, waste/chemicals going into the sink.

300-800 maintenance every couple years for pumping/inspection

Expect five-figure costs if you have major repairs or replacement.

Anything else I should be looking out for?

Thanks in advance!

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That's fair, this is the lowest sale price I ran. List price is 175. Here's the numbers at the list price without bringing rehab into it. https://www.biggerpockets.com/analysis/rentals/152f10c1-a88e-4ebd-8447-cbcf9675f332.pdf

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First post. Looking for extra eyes to analyze these numbers. It's my first rental on my own and this is my first time using BP calculators. I did past analysis with a mortgage calculator app and excel so I'm curious how other folks view these numbers I'm looking at. I try to overestimate expenses and rehab costs and underestimate my rental growth and ARV.

Appreciate any and all feedback!

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*This link comes directly from our calculators, based on information input by the member who posted.

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*This link comes directly from our calculators, based on information input by the member who posted.

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All Forum Posts by: Lyle Silverman

Lyle Silverman has started 2 posts and replied 4 times.

Post: Septic Experience? Should it scare me off?

Post: Septic Experience? Should it scare me off?

Post: [Calc Review] Help me analyze this deal

Post: [Calc Review] Help me analyze this deal