All Forum Posts by: Shaun C.

Using electric is a dated and inefficient way to heat a home. I would push you to do anything to avoid that. I've had electric heat once and $350 electric bills are no fun. I've never had a gas bill over $175.

After February first there shouldn't be too much cold, but that still doesn't solve the problem. There are really only 3 options. You fix the boiler with something more efficient and sized properly, or you add insulation and air seal the home. Option 1 probably costs $6-10k. Option 2 costs $1,500-$5k. And option three is you are upfront with them and price the unit accordingly, accounting for anticipated electric costs for running supplemental space heaters on the tenant's dime. I say this because, in Michigan at least, I have to provide a unit that can maintain a temp of 60* or whatever it is.

I got into RE three Halloweens ago with the purchase of a duplex in an up and coming, hip part of Metro Detroit. Little did I know how scary the next three years would be. In all honesty they've been great. I purchased the place with an FHA loan since I didn't make any money back then, and was able to use part of the expected rental income in order to qualify. Since then, I've put $40k into the property, learned landlording the best I could, and now net a 25% CoC return, which is great.

I also borrow from the equity in the house thru a HELOC and am able to fund bigger and bigger things. So in my opinion, while there is a different learning curve with MFH, your entry costs can be lower per unit, and I net more. There has to be a reason the guys making the most money in RE have more than one unit under one roof right?

I would raise rents to whatever they should be currently, then end the leases in February and spend March renovating to get you to the $950-$1000/m rate.

I'm good for an hour of cleaning otherwise the tenants is getting a bill for a service. I lay it out in my lease that I expect the unit to be just as clean as when I deliver it to them, and if it isn't; they're footing the bill to get it that way. I also email a spreadsheet a month before the end of the tenancy to show what I charge for.

I'm sorry to be the one to tell you, but your landlord has most likely ran off with your money if the home is being foreclosed on. You can try tracking her down, but you will most likely need to sue her, and your odds of collecting that debt are slim.

I live just outside of Detroit but work downtown and this is a really terrible idea unless you've got a really solid knowledge base about Detroit, as well as multifamily housing. I would tread very, very lightly moving forward.

Your arrogance alone would make me want you out of my property, whether you are right or wrong. Telling people to go save their comments for YouTube, Reddit, HGTV, etc because you are a 'real estate investor with some Air BnB's'. At the end of the day, you're whining because you don't have a working stove and hot water. Come up to Michigan in the middle of winter and have your heat go out and then you can start complaining. You live in California dude! Southern California at that. I'm outside in a t shirt when it's 50 out. 

You came here for people's opinions, and then disrespected them when they gave it to you because you didn't like it. Grow up, and change your name in settings so none of your future clients stumble upon this thread. 

Yes it is your landlord's fault for the gas not being able to be turned on. Yes he is a slumlord for advising you to tamper with a gas meter and commit theft. My comment having no logical consistency?Take a shower without hot water. Order out. Yes it will suck. Does it warrant 100% of your rent money back? In my opinion no. In California probably yes, thank god I don't live there. Since your landlord already seems like a scumbag I would ask for 100% of rent back but if it was an honest mistake by an honest person, I wouldn't have started a tenancy off on that foot. I'll leave my post/vote count here instead of YouTube and Reddit.

Who said anything about no heat, water, and electric? The dude is in Southern California where it's currently 57*. That means he's out hot water and has to wear a t shirt, which is why I said it's more of an inconvenience than being deprived of a necessity.