All Forum Posts by: Brett Bessette

I hear you Ola, definitely can get caught up in the numbers. But I am currently looking to invest in an apartment complex over 20 units and these utility expenses can be very expensive if I buy a deal with landlord paid expenses! Better safe than sorry.  

Thanks for commenting!

@Brett Read thanks for the estimates. that is right around the values that I have been using when I am running the numbers. I am definetly going to reach out to the owner I am in negotiation with and see if I can get some more financial records. 

Thanks for the response!

Do you have an recomendation for property managers? or do you currently self manage?

I am under the understanding that water/sewer is paid for by the current landlord but the electric is metered off per unit. Mainly just looking to find some accurate values for my expected expenses so I can come up with an offer price. I would definitely prefer to have the tenants pay for the utilities but as you said the owner is typically responsible for he water/sewer. The tip on asking a property management company to review my expenses is a great Idea and I will definitely do that! I am from Lincoln, RI do you have any recommendations for property managers? 

If you could forward your current utilities expenses as you said that you would be great! maybe a brief explanation of how your utilities are situated to put into perspective what your paying/not paying for (heat, water, electric, gas etc).  

Since you invest in North Providence I have a couple other questions for you. 

What cap rate do you use to calculate your offer prices? for C class? 

I understand that is a vague question but whatever advice you can offer would be grea

I noticed that from the portfolios that I received from a few potential properties we were interested in, they were using . between a 6-8 cap. 

As far as snow removal do you know what you currently pay per winter season? 

And as far as trash removal would $4800 a year sound like a reasonable quote? 

Thanks so much for your help! Appreciate you offering some advice, and look forward to hearing back from you.

@Anthony Thompson

@frankpatalano if you could provide me with a few recommendations as far as local property managers that would be great. I understand that electric is typically paid for by the tenant but I figured I'd include it in the post as it wouldn't hurt to know. 

Thanks for the quick Response!

I am new to Bigger Pockets and looking to invest in Apartment Buildings in North Providence, Rhode Island. I have broken down all projected expenses for the property I have in mind in order to find the NOI and compare it to the financial statement that the property owner provided me with. I was looking to see if anyone who has invested in apartment buildings in new England and could estimate utilities (water, electric, sewer). I am not just looking for estimated prices but more just usage per month per unit so I can calculate an estimate per unit based on local rates.

Looking for average KwH per month for a 

2 bedroom apartment, 

gallons sent out to sewer per month, 

average water gallon use-age per month.

I understand it is variable but I just need some input from someone who has seen actual usage per unit. 

Thanks!