All Forum Posts by: Zach Schwarzmiller

@Account Closed I ended up rolling with it. Best decision I made all summer. They ended up wanting to extend for another 3 months, unfortunately I had someone else coming for 1 month after 2 of the months. As they were staying for the fourth of July I said my price was going to increase exponentially. I used to rent this unit for $1,300 (just rented another one same remodel for $1,800 - tenant now paying all utilities as I sub-metered the building, and that is very much so top of the market rent for my area). In July I collected $7,000 on the unit - freaking awesome. They left, next guy came, all good. 

@Victor Quan Cool to see you on here. You should sure try. I would assume they would just raise your neighbors to appease your concerns and still make them more money!

Often for average size average type apartments (5-10+ units), a quick number I will use is $550/unit/year. Banks seem to typically factor a $250/unit/year capital reserve but that's probably not today. I am not sure they have adjusted for inflation over time. This would not be a great figure for smaller or single-family as it really needs to be estimated on an individual basis (in my opinion), with a timeline on when what is anticipated needing replacement (that's what I do on smaller buildings I buy). As Adrian said, a lot depends on the property/tenant. I did a brand new carpet and paint and had a tenant for one year who just moved out and her kids were really hard on the place. I am having to repaint and re-carpet just one year later. Usually I would anticipate getting much more life out of it. This summer I oddly had water lines break on three properties - I would have never anticipated water lines breaking this early. The older property, maybe - the ones built in the 90's though with poly that has a useful life of 2,000+ years, I wouldn't have anticipated. Whoever installed it was careless and left chunks of concrete and rocks set next to the line which over time rubbed and broke the line. 

 I used the fourth one from the left!! :)

 I can help with the multi-family portion for CBA sales comparable; however, we will need to rely on advertised cap rates as it would take a long time to underwrite and verify all of the cap rates. 

I've never seen one, but it would be interesting to look at.

Utility Company (City in my case) installed the meters, and I hired someone to do the install with me (mainly operating machinery, etc). I ran 3" PVC sleeves and then ran a continuous 1" poly through the sleeve to each unit and hooked in at main water valves. I just did it and haven't switched the tenants over yet, but they will be fine, they know what's going on. Either that or they leave and I get new tenants at higher rent + no more WSG bill.

I individually metered two triplexes (from two meters to six meters). It was great. Snohomish has super high water bills and it's a long-term hold so the price is justifiable.

@Kurt Winsley thank you! I actually did the other side in PEX and I am happier with that. I used the crimpers instead of shark bite and I think overall it feels more sturdy. I want to build a cabin myself and after trying all these different types of plumbing on the rentals I think I may go with continuous sleeved poly into PEX. I have CPVC on two triplexes build in 1998 all units are townhouse so three bathrooms and every so often it does indeed give me some trouble. I took those issues into consideration on that PVC and made sure there was nothing under pressure that could be upset over time! One year ago I could barley hook up a kitchen sink. 8 water lines later I think I'm starting to understand a little about plumbing - hahah!

 I really did not want wood because I have a house bunny pet and if I install wood trim he will want to eat it. I installed the bathroom with some porcelain and it looks really cool, but as I won't live here long enough I think I am just going to install the rubber commercial stuff. I did it in a room and it looks fine, I can't see renters caring at all when I move out, which I never seem to stay long, so I am sure will be the case soon anyhow!