All Forum Posts by: Ahmad H.

@Ethan Lee I always say frugality + savvy investments = highway to early retirement. Saving 50% of your gross income is very impressive. Great work! Keep it up! Looking forward to more of your success :)

@David Zheng $900/door net is very high. Do you own them all outright? What's your cap rate? 

I am averaging $200/door with mortgages. My net would likely double if I paid them off but nowhere close to $900/door.

Are you doing short-term rentals? In other words, what's your secret to get those crazy numbers!

@David Zheng Is that 9k net or total rents/month from 10 units? 

@Sunny Burns Glad to see you had such a nice experience with Trustco that you wrote a review :)

Good luck with your 2nd investment property. 

Happy Holidays!

@Ryan Vienneau Their commercial terms change but last I checked they were 75% LTV, 20yr, 5% (~1% higher than owner occupant).

@Bryce Cutler They give you 75% of rental income.

I think Trustco is best for house hacking especially if you start with a 4-family and make a case for moving into another 4-family or 3-family etc...
They count 75% of the rent immediately and as Sunny mentioned have low down payments and closing costs. 

A very nice bank to help you jump-start your real estate investing!

@Brie Schmidt Congratulations on your success!

I thought I was growing too fast (15 units in 2yrs). That was up until I listened to your first podcast and then I thought, now this is a serious real estate investor! Thanks for being living proof of the power of real estate investing when combined with determination and courage. 

Looking forward to your 5th and 10th year updates!  

@Account Closed It leaves a bad taste when the tenant goes directly to the utility company instead of working with the landlord towards a solution. Either way, get more info on the shared gas calculation since 5 therms is not a small amount and depending on number of vents or heated sq ft you might be under that threshold. To solve this for the long run, close the vent and leave hallway unheated or heat with electric baseboard connected to house meter. Good luck! Feel free to ping me with any questions. Hope this gets resolved quickly and painlessly. 

@Account Closed I think it was in the low 2k as it was only for electric service. Do you also have National Grid? 

@Account Closed mentioned that is not as easy as determining electric cost. If it's under the max allowed, you should be fine. If not, you'll have to rethink your options.

Shared metering pamphlet with additional info

I had a similar problem but I only had one GFCI. The root cause was a loose neutral in the circuit upstream from the GFCI. Test the voltage to make sure you're getting 120V (I was getting 92V).