Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Mike A.

Mike A. has started 58 posts and replied 245 times.

Originally posted by @Theresa Harris:
Originally posted by @Mike A.:
Just an update. The water company came out a day after I filed an official complaint. Amazingly, the meter fixed itself in just under a day. Something smells fishy... 

I'm glad it 'fixed itself'.  Now what are they going to do about the $2.5K bill since they took about 3 months to notify you about the spike in usage? 

It's currently in dispute and the State is reviewing the complaint. I'm going to install sub-metering on the building so we can know of any issues ahead of their quarterly billing. I do not know how a massive leak, that no one could not find, just fix itself after running for 90+ days. 

We're moving into Self Storage.  We just took over a around 300 unit self storage unit outside of New Haven, CT.  Keeping the same team, but installing a general manager to oversee the operation.  Brings in around 30k a month, but the one problem I have is that about half of that is in cash. I do not like handling cash, and the banks do not like cash either. However, I am concerned that if I push the clients who are paying in cash to credit, they will leave. There are two other self storage businesses within two miles of ours; and one of them is already modernized. 

Any tips on the best way to manage this business? I am also looking for ideas and suggestions on the best ways to modernize it as well. It was an old 1900's warehouse that was converted back in the 90s into a self storage building.
Just an update. The water company came out a day after I filed an official complaint. Amazingly, the meter fixed itself in just under a day. Something smells fishy... 
Originally posted by @Rachel Foster:

Turn off all the facilities that use water. If the water meter still runs, it is the problem of water meter, you just need to change one. If the water meter stops, there must have some place leak.

Easier said than done. Toilets have been inspected and are fine. Moving on to the boilers. No way to shut off water to each separate apt. 

Originally posted by @Matt Devincenzo:

I saw a leak where the water main between the meter and the house had begun to leak. The cast iron sewer line had some leaky joints, and between the two was maybe 10-15'. What happens is water seeks the path of least resistance, so a trench creates a soil conduit where the old and new dirt have differing density, and water tends to follow the old trench. The leaking water started out by travelling uniformly underground from the water line (like a puddle would on the floor going in all directions) until it 'hit' the old sewer trench 10' away, then it continued inside the dirt of the trench until it reached a leaky joint in the sewer. Now the water starts to 'run' in that direction instead of spread like a puddle. After several weeks of leaking into the joint the dirt had washed away creating a 'tunnel' that was more or less a direct shot from the leak in the water line to the leak into the sewer line....and all the leaky water just 'disappeared'....it's just like an underground stream creating a cave, only difference is it's man made and you're paying for it.

I'm not saying it is what is happening here....but you say there is a basement, any chance it is leaking into your drain tile/sump and being discharged?

No doubt, but the water company states this has been going on for months. They saw the original spike in May, but didn't notify us until this week.

Originally posted by @Steven LeRoy:

If the meter stops moving when you shut off the main, then there is no leak from the point of connection from the water main to your meter that would cause your meter to read a higher flow. My advice would be to install shut offs before each unit and turn them all off and open one at a time to see which unit makes the meter flow. All the hot water tanks should have a shut off on the cold in water line into the tank, make sure they are all off as well and open a hot water outlet to relieve the pressure. You can then open one unit at a time and check the meter to see which, if any unit has a continuous run.

I actually called a company that installs RUBS, but they said the building is too small to install. If anyone knows of a company that does this, I'm open to it.

Originally posted by @Matthew Irish-Jones:

@Mike A. I have seen a running toilet cause a whole lot of financial damage to owners before.  I would have to assume you have a running toilet or an underground leak that is not showing up in the property. 

How is an underground leak detected? We've checked all the toilets, nothing is wrong with them.

Originally posted by @Wayne Brooks:

@Mike A. When you said the meter dial “spins out of control” did you bother to watch and approximate the GPM flow?  If turning the main house cutoff stops the meter, and the meter turns with the valve open....obviously there is a flow.  I don’t think the gear mechanism in the meter could produce a false high reading, but I’m not sure.  I could see it “slipping” and produce a false low reading.

BTW, just 1 GPM is over 40,000 gallons a month. Is this a slab home? Are there any underground pipes downstream of the main shut off valve?

Not sure about the downstream, but there are pipes are from the street to the home. 

Originally posted by @Mike Cumbie:

One of your tenants can't sleep unless the shower is running through the night.

If you are saying the basement is dry and there is no water throughout the building, then it is going down the drain somewhere (or out through a hose to another building/structure from your outside connectors). 

How is this detected? 

Originally posted by @Scott Mac:

Look at the water heater (put your ear on it if needed) sometime the temperature and pressure (T&P) relief valve at a water heater leaks.

We will check them. The building's bones are from the early 1900's, but if there was a leak, there would be some residue on the floors, ceilings and/or walls...  No?  We've been through leaks before, but this is puzzling to say the least.