2 April 2018 | 2 replies
Right now I have on the following on my radar:$3k (immediate): W/D and hookups$15k (~2 years): 2x heating conversion to natural gas and baseboard heating for 3rd floor$15k (~5 years): House sidingI've budgeted $500/month for capex and am putting it into a savings account.Down the line, once i'm under 80% LTV (5 years w/o appreciation), I'm not certain if I should consider using a HELOC for capex or try to rely on a savings account.
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15 April 2018 | 25 replies
Gas piping - hire a contractor.
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4 April 2018 | 4 replies
The property is 2,240 sq ft, fueled by natural gas, has new plumbing and the roof is about five years old.
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11 April 2018 | 73 replies
@William DavisI can't answer your question, nor can anyone else without knowing the process of accomplishing "a way to minimize your tenant's rent without losing money".I like the sound of "making our air cleaner without switching from gas vehicles" but not if the strategy is killing half the population of people who drive gas vehicles.People are "so quick to judge or make fun of the idea when you don't even know what is" because we don't know what it is and making blanket statements/ asking generic questions and saying "I cant say" when people ask what you're talking about - sounds sketchy.
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9 October 2018 | 6 replies
I found posts like this to be helpful when I was first learning about investing in real estate, so hopefully someone on here can get something out of it.Our goals were to cash flow $100 per month per door, have a cash-on-cash ROI of 12%, and achieve a total return of 20%.Purchase price: $179,900Our loan is a 30-year fixed rate residential mortgage at 4.25%25% Downpayment: $44,975Mortgage Payment (Principal & Interest): $663.75Operating Income$26,435 scheduled gross rents (4 units)$(1001) vacancy$600 garage rent$11 interest$26,045 gross operating incomeOperating ExpensesProperty Management (10% of gross rents): $(2543)Leasing fee for new tenant placement: $(550)Sewer: $(1397)Water & Trash: $(1232)Lawn care/mowing: $(350)Gas & electric during vacancy: $(228)City occupancy inspection aka government extortion fees: $(183)Maintenance & Repairs: $(3594)Property Taxes: $(2009)Insurance: $(983)$(13,069) gross operating expenseNet Operating Income: $12,976Mortgage P&I: $(7965)Cash Flow Before Taxes: $5,011Cash-on-cash return: 11%Equity Accrued: $2275Total Return: $7286Total ROI: 16%We hit our cash flow number almost exactly at $104 per door while our ROI and total return came in a little under our projections, but pretty damn close.
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12 April 2018 | 4 replies
I don’t know much about taxes but I’ve read that gas, food and a home office is tax deductible. any info would be appreciated. thanks!
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30 June 2018 | 2 replies
I am about to break ground on the remodel of my home and am building an ADU over my garage for the same property.My question is....is it worth spending the money to separate the utilities or just have one water, electric and gas meter?
8 April 2018 | 5 replies
I recently bought a two family home and the basement is fully finished without a kitchen but ample space and I have been recently toying with the idea of renting the basement atleast as a room sharing however being a older home it doesn't have the kind of electrical capacity to accomodate a decent electric stove which has very high amperage requirements (atleast 150 amps -200 amps) besides I am not considering gas stove as an option.As is I can envision fuse tripping beside I don't have any 220 line,also it gets very cold in winter in the basement so I will most likeli need a supplemental heater in the basement so elctric upgrade seems like a must if I decide to rent it out.However I was wondering would it be a better idea to have solar panels to supplement my additional electrical needs?
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22 April 2018 | 9 replies
Gas if it takes more than reseting or relighting pilot I call.Roofs depends on how much time I have or how difficult.Appliance repair, My neighbor is a retired sears repair guy so I mostly punt on that as well.Carpet I hire out.