All Forum Posts by: Senate Eskridge

@Jay Ben adding RUBS is a great way to increase your NOI. There are a number of factors that go into implementing a system like this.

To check the legality I would look at the local public utility commission and/or your local renter's association as every state is different. Most of the time the rule states you just can not make a profit on utilities.  so a simple formula that charges say 90 or 95 % of the utility cost back to the tenants should keep you safe.

You will find a wide range of ways to calculate RUBS based on square footage, number of rooms, number of occupants, etc.  Personally, I like a flat fee based on unit size just because it is simple and easy to understand.  I.e. 1 bed = 150 2 bed = 200 etc..  

Most high-end property management software have the ability to set this up for you but there are also several companies that will bill your tenants for you and pay the utility companies in a bundled service, this will also help you ensure compliance.  

The other piece you need to make sure and understand is the max amount your tenants can or will pay.  Adding $100 in RUBS makes the books pretty but when it comes to the tenant's pocketbook it doesn't matter what you call it you are charging them more to live there, every unit will have a ceiling it is your job to find that and stay at or just below that amount without impoverishing or driving away tenants.  

I am an experienced Syndicator and I coach several people through the process.  I am happy to help anyway I can, lets talk.  

@Nathaniel Winkel Happy to make your acquaintance.  I am a real estate investor, I help people invest in real estate passively and I coach students for Jake and Gino who teaches people to buy multifamily apartment buildings.  

The first step is to define what your goals are.  For example, are you wanting to buy a 5-unit complex down the street or are you wanting to buy a 78-unit building in Oklahoma (I am buying one now).  Neither of those are passive, when you are buying multifamily buildings you are becoming an active investor, if you want to be truly passive you can invest with someone like me as an LP or Limited Partner and all you have to do is sit back and collect the benefits of owning real estate.  

I am happy to have a conversation about all the options, how they break down, and the pros and cons of each.  

I target 8% + Cash on Cash and 16%+ IRR.

I work in Idaho, Texas and Oklahoma.  I have partners with deals in other parts of the country as well.  

I am always looking for investors, partners and deals.  

@Mike Beer I have been in Raisemasters for only a few weeks and I can tell you I have already received tremendous value.  

@Gerardo Waisbaum I was at the event last year, I do not feel like it was about pushing their coaching program.  They had a lot of informative speakers and a ton of networking opportunities.  I will be there, hopefully we will meet in person.

This is a great article.  I have talked to so many investors who thought they wanted to be active in the beginning only to find out that the ten things you mentioned above are not things they want to deal with and they eventually became passive only.  While they learned a lot by going down the active role first they would have saved themselves a lot of time, money and frustration if they would have read this article first.  

Jake and Gino Multifamily Mastery 5 November 5 & 6, 2022 in Orlando, FL.
https://jakeandgino.mykajabi.c...

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The September Magic Valley Real Estate Investors Meeting will be 6:00 PM - 8:00 PM on September 8th at Hong Kong restaurant. Networking begins at 6:00 PM and the presentation begins promptly at 6:30 PM.

We will be discussing the current state of the lending market and specific options with Skip Broyles from Cornerstone Home Lending.

Have you joined our Facebook Group yet?
https://www.facebook.com/groups/mvrei

We will be meeting at Hong Kong Chinese Restaurant
163 Cheney Dr W, Twin Falls, ID 83301
Food will be available but not required, their menu is on their website if you would like to peruse it ahead of time.
http://www.hongkongtwinfalls.com/menu/

The August Magic Valley Real Estate Investors Meeting will be 6:00 PM - 8:00 PM on August 11th at Hong Kong restaurant. Networking begins at 6:00 PM and the presentation begins promptly at 6:30 PM.

We will be discussing commercial Real Estate with Nick Brady from TOK Commercial one of southern Idaho's top commercial brokers.

Have you joined our Facebook Group yet?

https://www.facebook.com/groups/mvrei

We will be meeting at Hong Kong Chinese Restaurant

163 Cheney Dr W, Twin Falls, ID 83301

Food will be available but not required, their menu is on their website if you would like to peruse it ahead of time.

http://www.hongkongtwinfalls.com/menu/