All Forum Posts by: Emiton Alves

Hello all,

I am looking for replacement door hinges for the top, middle, and bottom of my Whirlpool refrigerator. I contacted replacement part companies in, but have been quite around $200 for small and simple door hinges. Would anyone happen to know a good place to find replacement parts? Possibly any junkyards in the area which may have a decent selection to look through?

Thanks for the reply Anthony. This definitely gives me more to think about. There's so such thing as a free lunch you know!

Hello everyone,

I am an investor who focuses on multi families  (particularly 5 units and under) in Rhode Island. I've recently been looking into the various solar electricity options available to investors in Rhode Island, especially Providence.

The first opportunity is installing solar panels using subsidized government incentives. The way it is currently being pitched, is that investors can install solar for at a subsidized price. If the property is in a sufficient location, this should eliminate utility bills if everything is running on electricity. Though the solar panels should cost a reasonable amount, 200-400/month, the owner must enter a long term contract. If the owner sells before the contract is over, the balance for the panels must be paid in full. Although this may introduce some difficulties, it provides a potential opportunity to eliminate utilities for the home and increase rent by including utilities in the updated price.

Questions:

-Has anyone, multifamily or single family, gone solar in RI?

-How has been your experience?

-Which solar company did you use??

-Were there any regrets or misunderstandings? What did you wish you knew before you went solar?

-How does solar affect the value of a multifamily home? Single family buyers might care, but do other investors care whether or not a multifamily home has solar?

Overall I am trying to understand what might be some drawbacks of going solar. If I was looking to purchase a multifamily using low equity loan option, could this affect me in any way? Are there any affects on taxes? How difficult might this make it to sell if the balance of the panels have not been paid off?

The point of my post is no decision comes without cost, some decisions which seem good now may restrict your options in the future. I am trying to make sure that this decision is right. And if it is right, will not have greater repercussions in the future. Especially since I plan to continue to keep on acquiring properties at a rapid pace.

Hey Gabriel, I can share a contact that you can reach out to. For your situtation, I would be surprised if your getting charged more than $200/$300.

Is this garage a typical 3 car garage or more like a commercial space. That 1000/month figure sounds super if we are talking non-commercial space. If it is a typical 3 car garage, I've seen many people get between 60-100 door in the Greater Providence area.

Hey @Anthony Thompson, thanks for the detailed response! I'll make sure to keep this in mind as I shop around for a banking product

Hi all,

I am in the process of choosing a bank for a multifamily property in Rhode Island. Does anyone have any recommendations as to which banks/credit unions might be best. Are there certain things that a new investor should be looking for when choosing a bank/credit union? I am mainly looking to use it for rent payments and holding deposits.

Has anyone had issues using property management apps with an account at a credit union? Or has anyone been charged crazy fees when working with a large national bank?

Thank you everyone for the replies! This is super helpful information.

Hello all,

I am purchasing a multifamily property in Providence, RI. I have reached out to an insurance broker as well as gathering a few quotes from big name insurance companies. Would anyone have advice as to what are some key things to look for in an insurance policy? I understand that this varies from property to property and investor to investor, but the main data point I've been using to judge different policies is price. I've received quotes which are double the price of others. What would you consider to be must haves? What are somethings that might be superfluous?