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5 March 2019 | 6 replies
This I do not know, I know that electric comes into the building separately, gas comes in as 4 services, water is 1.
6 March 2019 | 8 replies
It seems like it has the potential to be a decent house hack where I can live in one side and rent out the other side, but I am analyzing it as if I were renting out both units.Here's the overview:Seller accepted my offer of $90,000 (they were originally asking $95,000)Similar sized duplexes rent for around $1,500 total ($750 per unit)The total gross rent would be about 1.6% of the purchase price.I can get a conventional 30 year loan @ 4.5% interest, with a 5% down payment.Mortgage payments with PMI would be around $469 according to mortgagecalculator.org (not including taxes or insurance)Using the 50% rule of thumb to estimate expenses, I might be able to cash flow around $140 per unit.Here's what I found out when I went inside:There are 2 new forced air furnaces.Updated pex and PVC piping.Updated electrical wiring with separate panels.2 old corroded hot water tanks.
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19 March 2019 | 12 replies
I have some knowledge and experience doing electrical and plumbing as well.
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5 March 2019 | 7 replies
@Dennis Maynard The electrical and plumbing is right above it with very little clearance.
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6 March 2019 | 6 replies
(new kitchen, bathrooms if possible, new flooring, and definitely new electric panels.)
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15 May 2022 | 16 replies
I would also like to talk about how awesome it is to provide clean, safe housing to others that provides a good value for them and provides a real asset that produces cash flow for those willing to do their homework and put forth the effort.
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6 March 2019 | 13 replies
I don’t know exactly all the overhead costs monthly with water, AC, electricity, or if the tenants would pay thay themselves.
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15 March 2019 | 18 replies
Right now, I still unsure, what's the average for electric, gas, taxes, insurance, etc., Thanks again.
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6 March 2019 | 4 replies
That’s why very thorough underwriting on purchasing MHC is very important.Confirming and verifying bank deposits with the rent roll and aging reports will keep you from being surprised by rampant delinquencies which could take 6 months or more to correct.I have taken over several parks in Michigan and they had more landlord friendly rules and still took 6-8 months to clean the park up.
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13 March 2019 | 36 replies
If you give them a chance to pay on their promise date and they were being truthful, you will have avoided a lot of time and cost associated with filing the eviction and then cleaning/fixing up the unit, marketing, and not to mention vacancy.