All Forum Posts by: Curtiss Venn

What is the standard in Hudson Valley area regarding utility responsibilities? For a SFH, should the tenant pay for all the utilities or is there a standard in the area for owner to pay for heat and hot water? If the owner pays, the tenant has no impetus to conserve.

Thanks.

Investment Info:

Mobile home buy & hold investment.

Purchase price: $300,000
Cash invested: $64,000

Single family home, good condition, unfinished basement

What made you interested in investing in this type of deal?

The area is growing with well qualified owners/renters. Deal pencils out as long or short term rental

How did you find this deal and how did you negotiate it?

Received referral for investment-knowledgeable broker. Broker pointed to this property. Analyzed and received accepted offer at asking price.

How did you finance this deal?

Savings.

How did you add value to the deal?

Property has open filing at DOB. I can manage completion of these filings.

What was the outcome?

Accepted deal.

Lessons learned? Challenges?

From previous failed attempt with a multifamily, I scaled down to a single family, 20% down to avoid PMI. Long term outlook.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

I can connect you with broker.