All Forum Posts by: John Groseu
John Groseu has started 2 posts and replied 2 times.
Hi everyone, I'm John and I am new to real estate investing. Weighing if I should upgrade my existing HVAC and rent a 1 bedroom condo that I live in now near NYC or sell. I'm aiming for a profit of $100 per month.
HVAC isn't broken but it is very old and electric bills are high. Replacement is $7,000 and that plus other CapEx, vacancy, etc., I would be cash flow positive in roughly 2 years (not factoring tax incentives, etc.). Unit is otherwise is in great shape and although I can't get an exact age of the appliances, they're in great shape too. Plus, transit is walking distance.
I'm thinking of just letting the HVAC go until both the heat pump and air handler (circa 1983) need to be replaced and renting the unit as-is. My major concerns are cash flow and if my tenants will fork over $200+ per month for electric pre-replacement (i.e. high tenant turnover- I figured 30 days out of the year vacancy which I was told was ridiculously high here but, it makes me feel better).
Has anyone had a similar experience to me and your analysis shake out okay in the long run? Appreciate any help. And, if anyone needs any help from me, give me a shout.
Hi everyone, I'm Dan and I am new to real estate investing. Weighing if I should upgrade my existing HVAC and rent a 1 bedroom condo that I live in now near NYC or sell. I'm aiming for a profit of $100 per month.
HVAC isn't broken but it is very old and electric bills are high. Replacement is $7,000 and that plus other CapEx, vacancy, etc., I would be cash flow positive in roughly 2 years (not factoring tax incentives, etc.). Unit is otherwise is in great shape and although I can't get an exact age of the appliances, they're in great shape too. Plus, transit is walking distance.
I'm thinking of just letting the HVAC go until both the heat pump and air handler (circa 1983) need to be replaced and renting the unit as-is. My major concerns are cash flow and if my tenants will fork over $200+ per month for electric pre-replacement (i.e. high tenant turnover- I figured 30 days out of the year vacancy which I was told was ridiculously high here but, it makes me feel better).
Has anyone had a similar experience to me and your analysis shake out okay in the long run? Appreciate any help. And, if anyone needs any help from me, give me a shout.