All Forum Posts by: Todd Kalsey

Hey @Lee Yoder! That's awesome.  Have a conflict that I can't reschedule on the 8th but is this something you're going to be doing again in the future?   Would love to get to the next one!

Yes...you are fine with 10 units.  I don't know if there is an exact count but I personally know multiple people in the area managing 30+ units within their portfolios.  

@Dave Spooner I follow the same philosophy as @Slocomb Reed with the idea of "farming" an area.  While my current properties aren't in the same neighborhood, they are only a 7-10 minute drive from each other.  I self manage too.  My goal is to keep future purchases within those areas/neighborhoods.  The last thing I want is to be ping-ponging all over the city.   With that said, it still will have to be a deal that works.  I would rather be focused and really understand some select neighborhoods/areas.  I think it's important to try to know the "pulse" in the neighborhoods where you have investments.  Just my 2 cents.  Good luck.

@Sarah Korsah I stumbled upon your old post on the ROTH for your child. I was researching in trying to do the same. Was curious if you followed through and how it went? Also, was curious what business did you use? Was it an LLC you have your properties in? Thanks for any info!

@Jeffrey Albaum thanks for posting and congrats on your first investment! Was curious if you could go deeper on this deal? Here locally in Cincinnati and would like to know more. Particularly, what neighborhood? Rents? Overall strategy (BRRR, Buy and Hold, etc.)? Thanks!

@Kurtis Schreck a few things on your numbers.  Rentometer is a good start.  I would dig deeper on the comparable rents with zillow, facebook, etc.  Cast a wider net and use multiple sources, just to be sure.

Utilites at times depend on the area, especially water.  Some neighborhoods you'll find it's a standard that landlord pays.  You can always do your own thing, but also best to know what the competition is doing.  Can always go RUBS, flat fee, etc. to recapture your water bill.

Also regarding utilities, focus on what system is in place for your heating and AC with the multi.  Boiler?  Baseboard electric?  Seperate furnaces?   Depending on what's in place will determine if it's hitting your bottom line or if it's the tenant's responsibility.  

If your place is within the city limits, your garbage cost is included in your taxes and isn't a seperate fee.  Small thing, but helps a bit.  If outside city limits, check and see what garbage runs.  For my personal residence out the in burbs, it's about $25 a month.

@Walt Dockery and @Patrick M. thanks for the input.  I did end up going with Landlord locks when updating things and it worked out great!  Additionally, I went with the "passage" knobs. Best decision ever.  Will do this for eternity.  Thanks guys.

@Dhanush Kondoth great, I appreciate the offer. 

 I am on the east side as well.   I couldn't agree more on tackling H20 in terms of making the property more profitable.  I wish more LL would make this a common practice.  I'm a year into a duplex and would like to implement something to combat the water cost, but the market in my area (45213) seems to just default to "owner pays".  I plan on trying to institue a change in future renewals (RUBS, Utility fee, etc.) and see how it goes.

Good luck with everything!

@Dhanush Kondoth thank you for the info.  A few follow up questions on your post.

1. What area is your 10 unit in?  Do you know if submetering is common among other buildings in your area?

2. Did Guradian indicate a minimum, in terms of the # of units for the install?  

Thank you!

@Daniel Helton thank you for the insight.  What size are the multi-units that you've submetered?