All Forum Posts by: Jack Yen

Thank you @John Thedford ! This is the first time I've encountered something like this on my first long-distance investment so a little nerve-wracking. 

Thanks @John Thedford. What would be the possible process from this? Would I able to recover some of the loss? Thanks

Hi BP experts,

I closed my first long-distance real estate property in Memphis on Sept 27th Friday. We did a walkthrough and all seems fine, appliances were there. For some reason, my real estate agent told me she got the key last Friday and we schedule to see the property on FaceTime again to see what other repairs we need to do before renting out. We found out the appliances were gone! Anybody has this experience before? What should I do and what questions should I ask? Any comments will be highly appreciated.

Thank you,

Got it Thanks! @Lydia R.

Hi,

I am wondering if there's other financing options to close wholesaler's deal besides cash? Will bank finance this type of property? I know this particular deal has discount based of the ARV that I calculated. What's a good way to run appraisal against the property?

Thanks

Jack

hey @Caleb Heimsoth it's in Greensboro. I checked RUBS can't be used here in NC because the state law. I'm exploring the possibility of installing submeter but I have to double-check if each unit has its own shutoff. Otherwise, we will just bake in the water fee into the rent. still working on the details but hope we could structure something that makes sense. Thanks for the feedback. 

Hi, I just look it up in NC it seems RUBS is not allowed... Any other suggestion would really be appreciated. Thanks!

Thanks @Percy N. @Brock Mogensen @Anthony Davis for the valuable information. From your experience, how effective is the RUBS system in terms of saving the water/sewer expense? We are trying to figure out the numbers. Thank you! 

Hello BP friends, my partner and I found an interesting property and while we look at the income statement. The first thing we notice is the water/sewer expenses is huge! it's a 30 unit and they spent $22K each year on that along! We are doing some research and planning to install individual meters to pass that responsibility to tenants. Could someone share their experience on how this could be done? Any comments will be very helpful. Thank you in advance. 

I will be interested, too. please count me in!