All Forum Posts by: Tim Kaminski

Colin Mooney Stephen Anderson Thank you for the responses! I guess it makes sense, just new to the process. Agreed. I think separating the meters would make more sense long term. Less work and less chance of possible arguments.

Regarding the electric issue, that is something I could just have an electrician come out during the inspection period and have him give me an estimate of the cost associated with separating the meters? I understand the sellers not wanting to disturb the tenants but it feels like I'm buying a car and they won't let me look under the hood. Just odd to me.

Hello! Looking at a triplex in St. Petersburg, Fl. It is a main house with an attached duplex on the back end. 2 questions. 1. Seller said we can view the main house, as it is vacant, but said we can only view the occupied duplex after an accepted contract. I understand they do not want to disturb tenants but does that seem weird to anyone else? My realtor said it wasn't totally uncommon but you would think if I were to make such an important decision, I would be able to see exactly what I was getting into beforehand. I realize I can back out during due diligence, just curious what you all thought. 2. It is a triplex but the main house and first floor of the 2 story duplex are connected on same electricity. This is something I would obviously want to separate as seller currently pays both electricity bills and I would want to avoid. The exterior shows 2 working electricity meters and a shell of a third meter, meaning it has the basic design but clearly not hooked up. Does anyone know roughly how much it would cost to separate electric meters? Again seems weird that it is a triplex but only has two electric meters. Hungry for your thoughts! Tim

Hello! Looking at a triplex in St. Petersburg, Fl. It is a main house with an attached duplex on the back end. 2 questions. 1. Seller said we can view the main house, as it is vacant, but said we can only view the occupied duplex after an accepted contract. I understand they do not want to disturb tenants but does that seem weird to anyone else? My realtor said it wasn't totally uncommon but you would think if I were to make such an important decision, I would be able to see exactly what I was getting into beforehand. I realize I can back out during due diligence, just curious what you all thought. 2. It is a triplex but the main house and first floor of the 2 story duplex are connected on same electricity. This is something I would obviously want to separate as seller currently pays both electricity bills and I would want to avoid. The exterior shows 2 working electricity meters and a shell of a third meter, meaning it has the basic design but clearly not hooked up. Does anyone know roughly how much it would cost to separate electric meters? Again seems weird that it is a triplex but only has two electric meters. Hungry for your thoughts! Tim

Thanks guys! I think unless it is a reasonable cost to switch it over to city water, I would feel uncomfortable with it. I don't want to be responsible/liable for water quality and sink holes are my worst nightmare. Appreciate the responses!

Guys,   Looking at a property down here in Tampa, Fl.  Realtor pulled the info and said that the water is not hooked up to the utility company but that it pulls from the well.  I've never heard of that but am fairly new.  My realtor said he had seen it before and that I, as the landlord, would be responsible for quality and availability. Was wondering if you all had opinions on these type of properties.  My thoughts are that it is nice because it is free water, but the liability, not to mention the possible creation of a sinkhole(?) would be enough to make me steer clear. Hungry for your thoughts!

Guys,   Looking at a property down here in Tampa, Fl.  Realtor pulled the info and said that the water is not hooked up to the utility company but that it pulls from the well.  I've never heard of that but am fairly new.  My realtor said he had seen it before and that I, as the landlord, would be responsible for quality and availability. Was wondering if you all had opinions on these type of properties.  My thoughts are that it is nice because it is free water, but the liability, not to mention the possible creation of a sinkhole(?) would be enough to make me steer clear. Hungry for your thoughts!

Hey Kathy. Can't help with your question but curious as to how you value your duplexes and offer a fair price. I'm a newer investor interested in multifamily and just wondering if you had any general rules of thumb. Thanks

Andrew Krause So you would still do the annual spray and try to look for early signs? I've been looking more at single story block homes and at least 1st floor block for my first. I just know that the sprays won't do anything for drywoods and if that is just another added capex that investors have to save for.

Hello,

Been in Florida for a bit over a year now and very interested in investing, obviously.  I'm living in Tampa and was curious about how investors deal with termite issues.  From the north so don't have much expertise in termites.  

Do you all strictly buy block homes? Do you simply pay for annual treatments?  Was my understanding that most termite companies only guarantee against subterranean termites and not drywood.  This is a large concern for me and wondering how investors in this area handle it.

Thanks!