All Forum Posts by: Eric Y.
Eric Y. has started 4 posts and replied 37 times.
Post: Quad City Investment Meet Up (Davenport, Bettendorf, Moline)
- Investor
- Geneseo, IL
- Posts 37
- Votes 29
Post: Hello from Davenport, Iowa
- Investor
- Geneseo, IL
- Posts 37
- Votes 29
Earl, you might also stop by the QCRPA meeting that just happens to be tonight at 6:30pm at the Knights of Columbus in Davenport (1111 West 35th Street Davenport, IA)
Post: Epic Fast Funding?
- Investor
- Geneseo, IL
- Posts 37
- Votes 29
@ALLAN SMITH Thank you for the update! I heard some of Matt's podcasts and was wondering how it worked.
Post: Need feedback on first analysis
- Investor
- Geneseo, IL
- Posts 37
- Votes 29
Don't those stickers mean the water is turned off?
Post: All Electric vs Gas Furnace/Water Heater in Northern Illinois
- Investor
- Geneseo, IL
- Posts 37
- Votes 29
Originally posted by @Scott Schultz:
electric is fine for Multi family, But in an SFR if you want your rent paid in winter put in a gas furnace, cost of electric heat is double $450/mo for electric vs $225/mo for gas for example, as far as water heaters, the annual cost is about 1/3 more, but not a significant amount of money, as an annual cost to operate is around $350/year. I install electric water heaters in my units because they are cheap and easy to replace, Ace Hardware sells 40 gallon units for $299, vs a power vent Gas one is $749, and life span is about the same. (no labor cost in the figures) when I rehab a new property i buy we generally put in a new water heater, if the furnace is 20 years old it gets a new one, (order from e-barnett.com) you would need about a 70,000 BTU furnace, they run about $550 for a 92% high efficiency shipped to your door, (plus install)
Who do you have install the furnaces that you order? I have to do the same plus install ducting. I'm not sure if I can do anything beyond call a heating company which I imagine has an opinion ab what I order.
Post: 8 unit seller finance offer
- Investor
- Geneseo, IL
- Posts 37
- Votes 29
Sorry you didn't get replies on this. I'm not experienced enough to help but was wondering how this deal worked out for you. I may have a similar situation coming up and would love to learn how it is going for you.
Post: Just closed my 7th rental!
- Investor
- Geneseo, IL
- Posts 37
- Votes 29
Thank you for he breakdown of your numbers. I'd like to know, if you don't mind what that $853/yr for insurance is derived from? I think it's on assessed value. What's the assessed value of your property?
Thanks from a total beginner :)