All Forum Posts by: Matthew Morrow

Thank you! I should have clarified- They'll be combining it with other SD IRA's and are in the process of setting this up with their attorney. The just had some questions specific to an accountant.

Hi All, 

I'm helping some clients get into their first investment purchase and they'll be using SD IRA's for a portion of the purchase. Anyone have good recommendations on CPA or group we can connect them with?

NE Pennsylvania area but remote work is possible.

Thanks!

 Awesome!  On market opportunities can still be great deals if you find the value add or other opportunities to push equity. 
very nicely done. 

 Awesome! Congrats!

It would be a big job, but you could do it. These combi-boilers are very common and super efficient. Also they remove the need for a chimney and individual water heaters since the exhaust is essentially moisture. our HVAC does most of their work in the city if you want contact info- He's installed 3 for us just this last year lol 

In basic terms It would involve:

-Permits / approval

-Additional Meters X 3 (all thru UGI, they coordinate with contractor)

-3 additional units to accommodate each apartment. Existing boiler can still serve one

-Additional Thermostats

-Tenants willing to add Gas to their lease terms. May be a tough pitch but can happen

This is also pending sufficient space exists to add them. Each is about the size of a large plastic container or shopping cart, and they mount right to the wall.
Here is a picture of a recent install. Super clean. And UGI will even give a $1500 rebate / unit with new installation after all the work is done.

 Check this out from above: Duplex is in Whitehall.

@Darrick Lowe, We just had a situation nearly identical to this- Eastern PA. Single boiler serving a duplex- landlord paid water / natural gas because there's no way to split it accurately.

We added a second high efficiency boiler that also heats water- Brute Combi-boiler, had the HVAC contractor add lines and a new Natural gas service. In our area, the utility company will not allow water / sewer to be placed in tenants name, however natural gas, power, and everything else can be as long as its sub metered. The new boiler, all associated work, and extra items were around 7500 including permits and inspection. A 1-2 day project at most for a good contractor. This allowed us to take the heat and hot water for both units out of the landlord expenses, and into the tenants.

@Darrick Lowe, We just had a situation nearly identical to this-  Eastern PA. Single boiler serving a duplex- landlord paid water / natural gas because there's no way to split it accurately. 

We added a second high efficiency boiler that also heats water- Brute Combi-boiler, had the HVAC contractor add lines and a new Natural gas service. In our area, the utility company will not allow water / sewer to be placed in tenants name, however natural gas, power, and everything else can be as long as its sub metered. The new boiler, all associated work, and extra items were around 7500 including permits and inspection. A 1-2 day project at most for a good contractor. This allowed us to take the heat and hot water for both units out of the landlord expenses, and into the tenants. 

@Kyle Vogeler nice job man! This is awesome. Was this an on-market deal? 
We've had several in similar fashion where they finance some, pay all closing costs, and a case of Yuengling is not joke. That holds a special value in many hearts...lol

@Jeffer Bengi Leiva,  Those initial quotes you got seem quite reasonable for a descent contractor in this area. 
I'm in the Lehigh valley and we've found it more cost effective to just do a tub replacement on several of ours lately. 

@Bryan La, all depends on your goals.  Having a parent / subsidiary company structure is great for management and record keeping. However this also provides more liability and access to assets within the family tree. 

@Sean Dezoysa, can you rephrase the question? I think you’re asking how to structure the deal with owner finance on a land purchase?