All Forum Posts by: Marco Gonzales

We currently charge residents a flat fee for water, $25 for a 1 bedroom and $35 for a two bedroom. My questions is, should I keep water a separate charge from rent or should it be included? Should I charge $750 for rent and $25 for water or should it be $775 water included? Is there even a difference? There are no submeters on the property. When I go to sell the property, does the buyer want to see water as a separate line item? or does it matter?

I purchased a property for 600k. It originally produced 100k per year and nets 50k so my cap rate and ROI would be about 8%. I got a mortgage for 200k to rehab the place. My new net income (after mortgage) is 70k now because of increase rents. If I am going to calculate my ROI and Cap rate, am I using the purchase price of 600k or do I use 800k because I pulled a loan out for 200k and reinvested it all into the property? I understand this may be a stupid question.

this was not a scheduled outage, the tenant put in a maintenance request because her fridge outlet lost power, and her lights got dim, she turned the breaker box off and it wouldn’t turn back on. She informed us what was going on, we tried getting electricians to the property but it being July 4th weekend, they were either busy or closed. We put the tenant in a hotel for the next two days while we got a electrician to the property to fix the problem. 

Our tenant was out of power because we had to replace our breaker box, partly due to a storm recently, it took 3 days due to July 4th weekend nobody was available. We put the tenant in a hotel for 2 nights while we tried getting someone out to replace it. Are we required to refund them for the food that spoiled or is that a courtesy? We are from east Texas. They are asking us to let them use next months rent for groceries which is 695. Any advice will be helpful. Are we required to refund residents? Are we required to relocate them? )The breaker box is fixed now)

I answered my own question by going over the lease agreement, It says we pay for water/sewage, with that being said, I am going to assume we cant charge water until its time to renew the lease.

We currently pay water, and the residents pay electricity. We are planning to charge 25-35 dollars per unit to recover the 6-7k a year we pay for water. My question is, Do I have to wait for the residents lease to end before I can start charging residents water or can I give a few months notice and begin charging at the beginning of 2022. The property is in Texas. Thanks!

Sounds good, I appreciate everyones help!

19 units, I sent numbers to your email

I'm looking to refi a mortgage to a fixed rate. just looking for recommendations I can send numbers to. I don't think I can on here without it getting taken down. Thanks!

Does anyone know any lenders in the area of east Texas that invest in multifamily properties. Thanks!