All Forum Posts by: Kurt Z.

The property is 3 buildings each with 2 Townhomes. I received a quote from my primary insurance broker at State Farm. He carries my auto, home, umbrella, etc. He underwrote it as 3 residential buildings. Any reason not to go this direction? Can anyone suggest some good commercial carriers/Brokers in Northern California? Is there any good guidelines on cost per unit for small apartment buildings in California? I also want to include EQ insurance. Thanks!!

@Roy N. are you still using the same Schlage locks?  Also, what system do you use to connect the locks to the internet for remote code access and control?  Do you have an internet account in a common area that the locks connect to?  Thank you!!

Linda DellaRipa I didn't think Cozy.co provided lease agreement service. Can you advise how this works? Thanks

@Roy N. Thank you.  So, how do people keep the locks connected to a low power wireless hub when tenants are moving out and cutting off internet?

Originally posted by @Kiet N.:

Thanks Kiet.  What brand and model lock do you prefer?

Bringing an old post to life.  I am trying to figure out the best method to remotely allow me to give access to units to service providers.  I live about an hour from the property and can't drive over very often.  I have a few questions.

For the locks that allow you to open remotely, enter temporary access code for a painter, etc....don't those need to be connected to the internet 100% of the time?  What network are people connecting their locks to in an apartment building use?  If a tenant moves out and their internet is turned off, there is nothing to connect to in order to allow remote control/access.  Am i understanding this correctly?

Something like the Schlage BE365VPLY505 would work but then the vendors would have an access code that would still be in the lock until deleted manually.

I would appreciate any help and feedback

Hi everyone.  I have been lurking around the forums for several weeks and I really appreciate all the time and effort people put into this site.  It is an amazing community.  A little bit about me.

I actually work professionally in the multifamily investment space for a larger institutional company that focuses on buying larger (200+ units) value-add apartment deals.  I am now looking to buy a few smaller income properties in and around Northern California.  

I have an apartment property in escrow currently (more details to follow). It has been an interesting learning process. Despite doing this for my day job for 10+ years, it is different when you are doing it for yourself. For example, I am very fluent in the analytics of evaluating an investment opportunity, the financing options, etc,.... but I have no idea how to form an LLC (attorneys typically do it) or how to draft a lease or how to collect rent (we use 3rd party property management that handles). This site has been helpful with learning some of these basics. So, I actually think this new side investment will improve my skillset for my day job as well.

A few notes on my plans for take-over of the property:

- I plan to use Cozy.co based on research, reviews online and here for tenant screening and rent collection

- I plan to use RocketLawyer for legal docs, leases and for on-line signatures

- All tenants are on month to month leases so i will likely as people to sign longer term leases or pay a premium for right to be MTM

- I will likely just use Excel for accounting purposes and Income/expense tracking

- I set up a Gmail email address & a google voice number.  What is the best service to allow call forwarding and text forwarding to my cell phone without having to post my cell in ads, etc?

- I plan to install some digial locks to allow remote access to vendors.  Still researching this

I welcome any and all thoughts, comments and questions.

K