All Forum Posts by: Paul Kuhn

sorry for the long delay in reply! I am 3hrs away from property and in school currently too, so have been busy. From my understanding of the steam vs hot water radiators, I believe it is hot water system. 

Thanks for the replies, just trying to maximize rent while reducing cost. I believe we are all working towards being financially free through our rentals, while at the same time, not trying to be slum lords.

password for the spreadsheet is

AAABAABABAB~

really dislike it when people lock stuff so you have to go through a mandatory meeting to get the password.

So i found this company, only works for one property, but seems to fit the bill.

https://www.americanfinancing.net/programs/all-in-...

Thoughts?

Using one property, factoring in no yearly pay raises/promotion or graduating from school (significant raise then), should be able to pay off all debt just under 6 years. Taking 2 $100k draws and $140k draw(each draw after bring HELOC balance to 0) to pay off principle on VA loan house and HELOC. So 535k of debt gone.

https://www.navyfederal.org/calcs/payoffline.php HELOC Calculator

http://www.mortgage-x.com/calculators/extra_payments.asp Amortization with 3 extra payments.

Thats who my limited HELOC is through, very difficult to use as a checking account. Can't have check direct deposit into it, can only write checks, no card to my understanding.

Sounds like a great strategy, currently I have a mortgage and a heloc on one of my properties ($150k total) on a value of $250-280k property(Michigan), and 2 other fully paid properties (Indiana$90k/Ohio$115k). 

Currently in the process of purchasing another property with my VA loan (Virginia). Anyone know of a bank/credit union that does this strategy? Would like to wrap my Michigan property or all of them into a HELOC and possibly pay off the Virginia property with the combined equity using the HELOC strategy. Any help would be appreciated.

thank you for the reply, i was looking at mini split ductless, don't know what the cost or 4 zone ductless per apartment. 1 for each bedroom and 1 for front and back.

With the TRV could the tenant just change the temperature from there? 

Cav the TRV be combined with

http://www.tekmarcontrols.com/solutions/46-solutio... ???

Trying to increase rent and lower cost while living there and be profitable once i leave the property.

I am in the process of buying a double brick triplex built in early 1900's (southern Virginia/historic district), 1650 square feet 2 bed/1 bath units stacked on top of each other. The whole house is heated by a boiler with radiators throughout the home, with the thermostat currently in the basement. No air conditioning installed, 1 window AC unit in each of the units.

Currently the heating(gas) bills can go as high as $800 in the coldest months and as low as $30 (tankless water heater) in the summer months with single pane lead glass. Tenants will have the windows open in December because it is so hot in the building! The current owner pays the gas/water bills, and is losing money on the property. 

I plan on living in the building for 2-5 years. My question is, is how can I lower the heating cost(make the tenants pay) and let the tenants individually control the heat between units? Part of my VA renovation loan/purchase is to have storm windows installed to maintain the lead glass and appease the historic district.

Thank you all in advance for the advice.

thank you all for your replies, the deal fell through. Was misled in regards to the actual financials.

thank you all for your responses and private messages, the deal feel through.

Norfolk/Portsmouth area has one of the largest ports/shipyards. Would the military being cut hurt, yes, but not a one party town like Detroit is.

The numbers do not account for me living on site, but I would deposit the money into the account.

The building is from 1910's, and putting down 133k.