All Forum Posts by: Lora Sitler

Quote from @Elise Bickel Tauber:

Quote from @Lora Sitler:

Quote from @Elise Bickel Tauber:

Hi Lora. Are you saying you want to figure out a way to pass the cost of utilities onto the tenant? If so, you can do a few things. You can rubz the utilities to share the bill, flat fee the utilities, or submeter. Hope that helps a bit!

Thank you! That’s whAt I was trying to figure out without paying to put in separate meter. What is rubz?  

 Rubs is short for ratio utility billing system. We have it as part of our property management software however there are rubs software availanble online through many sources.

 Thank you! I had never heard that term before now! Appreciate it!

Quote from @Eliott Elias:

Do you mean they are not separated? Either way the utilities are your expense. 

 Yes I understand at the end of the day that is my expense. They aren’t submetered for the property currently. I wanted to figure out how to split the utilities for tenants between 3 units 

Quote from @Elise Bickel Tauber:

Hi Lora. Are you saying you want to figure out a way to pass the cost of utilities onto the tenant? If so, you can do a few things. You can rubz the utilities to share the bill, flat fee the utilities, or submeter. Hope that helps a bit!

Thank you! That’s whAt I was trying to figure out without paying to put in separate meter. What is rubz?  

Thank you for your response i guess i was looking to see if i went the long-term route for a rental how I would figure that out. 

Hi Everyone, 

I was looking at a multifamily property in the Pittsburgh area, trying to run it as a MTR/ STR but the utilities are separated. Trying to see what my options are on how to split that or finance it in. any help or knowledge would be appreciated.

Quote from @Eliott Elias:

The lender requires you to owner occupy it, at the same time life can happen. You get a new job, or some scenario that forces you to relocate. There is really nothing the lender can do at that point. 

 ok i understand you can move out ijust know how it would work if you moved out after say a year and moved a tenant in. if there was a timeframe before you could move on to the next i guess. Thank you!

Quote from @Anthony Dooley:

When you buy it with FHA, you will sign more than one document that states this will be you primary residence. Some people say it's for at least a year, but there is no term of time on the documents. You can move whenever you want, but understand that lying in order to get a loan is mortgage fraud. You are signing legal documents and the FHA is a government agency. House hacking is a great move if you do ethically.

Oh for sure! that was i figured it was was fraud but i didnt know like what these other investors were doing. 

Best way to pin down an area to invest. There is so many to chose from and starting out I’m looking for duplex to quadplex size investments. I’m overwhelmed with how to research good areas! There’s just so many markets to chose from I don’t know where to start!

So just so I understand. You buy a quadplex with an FHA making this your primary residence. I have have heard a couple bigger name people discuss it but not really go into details as to if they are really living in one, keeping it vacant and if they are stating how long do they stay before they can rent that unit out.

Quote from @Nate Sanow:

Someone in 2 years will say “I wish I bought something when those rates were high and competition was low.”  Hopefully, it is as few of us as possible.  

So it’s more of a competition thing than having good rates? Like better opportunity to get more real estate without too many people trying to do the same thing. So if rates are high now I could always refinance at some point for a lower rate?