All Forum Posts by: Jayson Greenblatt

@sethborman. I keep hearing mixed reviews. Some people love them, others say they dont work well when it gets below 20 degrees. My issue with this is the cost to buy/install. Also, if something goes bad it will most likely expensive to replace. Elec baseboard or wall heater shouldnt cost more than 200 bucks to replace.

@Isaacpepper The furnace is both. Gas for the burner and elec for the fan to force the air through the ducts. My point of doing this is to put the cost of heating directly onto the tenants. I pay the heat for a 3 fam house. All 3 units like diff amounts of heat. With 1 forced air system the tenants who are too hot, open their windows and keep the furnace running. If everyone can control their own heat, I save money long term, and everyone is comfortable in their own unit. 

Yes. It can be costly, but that will be the tenants problem. I dont mean to sound so harsh, but they will need to excercise some self control. I have learned that when I pay for heat, tenants could care less about how much it cost me

I want to hear from people who have these as their only source of heat. I have a forced air furnace that is on its way out. I would like to install electric wall mounted heaters in all the rooms and pass the cost of heating on to the tenants. Property is in NY so it does get cold and I am wondering if they would be strong enough.

lots of good info in this post. Thank you to all who contributed. I enjoyed seeing the many different viewpoints shared.

@ali boone I seem to keep finding turnkey properties that offer around 6% coc return. Id say from speaking to people on here they are getting 200 to 350 month after paying off debts. But repairs and maint come out of that amount. So I am just wondering if its all its cracked up to be. What is attractive about it to me is the hands off part. So I guess the smaller return would be the trade off to less stress? And higher return=more stress and hands on.

@marymitchell yes, you are right. But I am seeking cashflow to supplement a paycheck. Replacing my 9 to 5 is my main goal. 

@brian Hosier. Please explain more. How exactly does that benefit the company? As far as repairs go. 

@brian Hosier. Please explain more. How exactly does that benefit the company? As far as repairs go. 

Great responses. Im just stuck on the fact that if you are only cashflowing 200 to 300 a month, figure 3600 a year, any major repair would wipe out a whole year or 2 worth of profit.