All Forum Posts by: Sarah Wagner

@Sarah Wagner PG&E is if you want them to keep track of all the billing and whatnot I'm assuming which if it only costs $1500 may be worth it, the options I was referring to are if you or a PM is going to keep track and bill the tenant accordingly.

Yes, I would be keeping track of the submeter and billing the tenant. Thats why im asking for a recommendation of a great wifi submeter. Still hoping when I have PGE out, the $1500 scenario is the one we get. So much less of a hassle that way!

0 Votes

Originally posted by @Aaron K.:

There are all kinds that cost like $300 with a margin of error neurio etc. However depending on how the electric is set up it may or may not work. Even in a worst case scenario it should not cost thousands, get more quotes or wait until the pandemic is over then get more quotes.

The quote I recieved directly from PG&E to install 2nd meter is:

low end $1500-500

highend $5-10,000

im still going to schedule someone to come out from PG&E and give me a bid. But im looking into alternatives just in case they do quote an exorbitant amount.

0 Votes

Hi all! I have a SFH with a 2 bedroom downstairs ADU unit. Only one meter. I looked into installing a second meter and it could cost thousands! Id love to be able to separately bill tenant instead of doing utilities all included.

Does anyone have a recommendation on a company to submeter electric that I can check remotely, IE with my smart phone? Thanks!

0 Votes

Originally posted by @Aaron K.:

@Sarah Wagner if true value is $345k then I'd probably be offering maybe $315k, but if you need to be at $280k to make it work I probably wouldn't waste your time, nearly 20% off market price and nearly 30% off list price doesn't fly in CA too often, and can offend a seller if you are actually willing to pay more. There are better deals out there where you don't need to piss off a seller to make it work.

Thanks! I definitely dont want to offend anyone. Just trying to get the best value. Especially during this pandemic. Youve helped. I appreciate it !

0 Votes

Originally posted by @Owen Dashner:

I don't know your market specifically, but anything that hasn't sold in a year is severely overpriced. The whole point is to get a counter offer that you can work with, so don't be afraid to make a lowball offer. If they don't take it and don't counter, make a note to follow up later and move on. The answer to an unasked question is always no. If they counter, you'll see how flexible and realistic they are.

But I think you are mistaking "list price" with actual value. They could ask a bajillion dollars for something worth 10 cents. Make your offer based on the market value minus your costs and desired profit. That's it. It shouldn't have anything to do with the list price.

THANK YOU! I really do think that they’re overpriced. I wanted to come in at 280-290. But don’t want to scare them away.

0 Votes

Originally posted by @Aaron K.:

Obviously it would depend on what it would rent for but being on the market for over a year probably $340k maybe $345k. Now the possible wrinkle here is if this house is in probate, you said it is in a trust so that shouldn't be the case but as long as there isn't a 3rd party who needs to approve you should be okay. I'd also see if there have been any price drops, if not then the family likely won't sell until the market rises to meet their price which could be a long time.

Thanks for the input! It’s not probate thankfully. The comps (pre covid -19) put the property value at 345.

0 Votes

...

0 Votes

Hi all,

I want to put in an offer on a SFH that has been on the market since last June. Im at the very top of northern Ca. Its a family house thats been the same owner for 60 years. They passed and now is in trust to the kids. They did some pest work. Put in a new roof. Its a 5/3 super outdated, think original everywhere. Has no backyard, small lot, .17. And no garage, only a carport. Very awkward layout. 3/2 up. 2/1 down with its own enterance. We want to put in a kitchen and turn into rental downstairs.

Keeping in mind Covid-19, and the fact that its been on the market for almost a year. I want to lowball. Its list price is 365,00. What would you guys offer?

0 Votes

Side Note: Sellers agents are also being really unresponsive. We still dont have estoppels or their current loss and gain statements. Had to pretty much beg for the rent ledgers, which we just got three days ago (inspections end in 2 days). I am a brand new investor. Is all of this red flags? Or am I just reading into everything ?

0 Votes

Thank you for all of your quick responses. No we did not know the condition of the roof before. There was a roof inspection on file from a previous buyer that backed out, but we did not get to read it until after we submitted the offer. (There was another buyer interested, so we had to act quick) Am I right to think that the real estate agent should have seen that and advised us before submitting the offer?

As for the inspections for the rest of the units, the estimates came back for things we did not know, such as loose toilets, leaks, and floors needing replacing because of age and water damage. Also there was about a $1000 worth of work from the pest inspection for the exterior siding.

0 Votes

All Forum Posts by: Sarah Wagner

Sarah Wagner has started 3 posts and replied 12 times.

Post: Submetering electric for an ADU in California

Post: Submetering electric for an ADU in California

Post: Submetering electric for an ADU in California

Post: Should I lowball on a SFH?

Post: Should I lowball on a SFH?

Post: Should I lowball on a SFH?

Post: Should I lowball on a SFH?

Post: Should I lowball on a SFH?

Post: Negotiating after inspections

Post: Negotiating after inspections