All Forum Posts by: Randy Gutierrez
Randy Gutierrez has started 3 posts and replied 169 times.
Post: California Or Out of State????
- Investor
- NY
- Posts 171
- Votes 80
If you own a construction company why are you not flipping homes? Being you don't have much time I would look into buying turnkey properties.
Post: How to split heat and hot water amongst tenants?
- Investor
- NY
- Posts 171
- Votes 80
Quote from @Anwar H.:
Thanks @Matthew Morrow for the reply.
I just closed on a 4-plex in Allentown, PA, which has single boiler+heating system for all 4 units. If we were to install 3 more high efficiency heaters that also boil water. Will the price be $7.5k*3=$22.5k? I guess that'll be a big upfront expense, to save on $200-300/month savings
Honestly the cost, time, and work required wouldn't be worthwhile in my opinion. Acquire the history usage from the utility company and just divvy it up between the units into the rent.
Post: Price for reglazing a bathtub and wall tile?
- Investor
- NY
- Posts 171
- Votes 80
Quote from @Jeffer Bengi Leiva:
Quote from @Randy Gutierrez:
The quotes I get typically range between 1200-1500 in Allentown. It usually costs us no more than 2,500 to rehab a bathroom in the area.
Post: QOTW: Do you have a BHAG (Big, Hairy, Audacious Goal)?
- Investor
- NY
- Posts 171
- Votes 80
Quote from @Carlos M.:
@Alicia Marks
Currently my wife and I own 128 doors , which is 15.1 million in assets, $112,228 monthly gross rental income. We own 100% of it as in we have zero investors. It’s just us and the banks. We jokingly call our business “against all odds”. We say that because we had our daughter when we were 17 years old, we both had only a high school education. My wife did get a degree as an adult. My first two real jobs out of high school was being a janitor. So it wasn’t easy to get here..
Next goals… instead of grossing $100k monthly, I want to net $100k monthly in rental income. What excites me about that is knowing The amount of great people we will need on our team to make that become a reality.
That is inspiring. My goal is to acquire 100 units in 10 years, how long did it take you?
Post: Price for reglazing a bathtub and wall tile?
- Investor
- NY
- Posts 171
- Votes 80
The quotes I get typically range between 1200-1500 in Allentown. It usually costs us no more than 2,500 to rehab a bathroom in the area.
Post: Need a Property Manager for large Mom and Pop portfolio
- Investor
- NY
- Posts 171
- Votes 80
Your father is leaving you a nice chunk of RE, definitely don't throw the opportunity away! Good Luck and hope you continue to grow the portfolio! There is so many ways you can use the existing portfolio to acquire more units and grow it into a behemoth.
Post: Where do potential tenants go to find a place to rent?
- Investor
- NY
- Posts 171
- Votes 80
My last two tenants were from FB marketplace.
Post: Is the shine wearing off on STR's?
- Investor
- NY
- Posts 171
- Votes 80
When it's just my wife and I we typically stay in a hotel. As soon as family gets involved or another couple tags along it automatically goes to Air BnB. It's hard to recreate the ambience and environment of an Air BnB in a hotel when it comes to larger groups. Additionally STR's can be located just about anywhere giving them an advantage over hotels. STR's are definitely here to stay.
Post: How do you pay for Rehab expenses?
- Investor
- NY
- Posts 171
- Votes 80
Your first few rehabs will usually come out of pocket, after that depending on your goals, the rental income from your portfolio will cover it, just have to get the snowball big enough.
Post: How much earnest money for a duplex?
- Investor
- NY
- Posts 171
- Votes 80
$1500 is what I have always put.