All Forum Posts by: Cody DeLong

There are a bunch of wholesalers in maine @John West  I can certainly connect you. 

Thanks @Ivan S.  I’ll deff be trying to make it then. 

What time does everyone stay until usually?  Curious as I can never make 6, but 7 is when I’d be able to show up. 

@Tyler Blackwell I get 80% for my commercial through a local bank I use.

@Joe Splitrock here is where it gets tricky. Here in Maine the people who qualify for this program also qualify for heating assistance if it’s electric heat due to it not being as efficient as other ones. So if I do get rid of the electric in the 4-5 units they wouldn’t get nearly as much of their heat covered. It’s a catch 22. I’m learning all of this right now so it’s interesting to say the least.

@Ryan Murdock I agree. And up here Propane is almost the same $$ as electric now.  The issue I think I run into is, by saying you pay for your own heat most people arent worried, but when they see its electric then they get worried thinking it will cost more.  

I'm going to look into my options here a little bit.  If I can get some of the easy access apartments switched over to oil it will be my best bet, and then maybe do some more efficient electric baseboards.

I will say I was in there the other day and the vacant ones with electric heat were pretty warm. They were not cold at all and it was like 5 degrees out 

@Ryan Murdock I just brought up with my property manager and I think the issue with rinnai now is there is nowhere to really place the tanks.  It's a small lot and the only area to the left to put them is not the buildings property.  The line is right on the edge of the building.  I think our best plan of action is going to be just getting a heating guy in there and taking a look on what he thinks we can do.  

@John West Thats what I'm thinking of doing, I'm gaining about $190 a month per unit in rent and more tenants.  Efficiency Maine has some great programs you can customize too.  I'm going to talk with them about working with them since I can reduce electrical consumption.

@Colleen F. I don't think mini splits are out of the realm of possibility just not sure it makes sense for this property.  This is a C class property.  Maybe it does?   All the 2nd and 3rd floor units share a back wall so it'd be easy to do. The first floor apartments I could switch to oil easily since the access from basement is easy.

@Jaysen Medhurst

1. Switching over the units not on oil to either oil, propane, or a mix...

2. Oil and Propane.

3. I wish.

4. There is enough room in the basement to put a bunch of furnaces though I'm not sure it'd be economical.  

5. Hot Water is currently a pretty new Big hot water tank.

6. I haven't but that is an option.  The big thing is this is in a rural Maine city (5k people) things get pretty cold up there.

The whole thing with this building is it is under a program for the state where the state pays for 70% of the tenants rent, its not Section 8 just something else similar. With the electric heat units the tenant pays the HUD amount MINUS $220 due to the electric heat per month. I can tell you that each unit does not use $2640 of heat per year. This would be costing me some money on the front end for sure but I feel I'd see it with a quick fill up and also the extra $15,840 in gross revenue a year.