All Forum Posts by: Troy Forney

You all have been such I help. I am slowly spending more time on BP. Thank you. Looking to buy a duplex with a shared boiler. Two story, one unit on each level with a full unfinished basement. The boiler is only 12 years old and is located in the basement. Right now the owner pays the heat, first floor unit. There are two electric meters and two gas meters. The upstairs unit has a gas line ran for there stove and then for their dryer in the basement. So the gas meter for the upper unit has dryer and stove on it. Owners meter has boiler, his stove and his dryer on it. I want to split the heat so I am not paying this. I am thinking boiler can be kept for one of the units and install a furnace for the other. Anyone have experience with this? I am thinking some reconfiguring of pipes for the boiler and some duct work and gas lines for furnace. I am I getting into something that is too expensive? 872 sq ft each floor. 

You all have been such I help.  I am slowly spending more time on BP.  Thank you.  Looking to buy a duplex with a shared boiler.  Two story, one unit on each level with a full unfinished basement.  The boiler is only 12 years old and is located in the basement.  Right now the owner pays the heat, first floor unit.  There are two electric meters and two gas meters.  The upstairs unit has a gas line ran for there stove and then for their dryer in the basement.  So the gas meter for the upper unit has dryer and stove on it.  Owners meter has boiler, his stove and his dryer on it.  I want to split the heat so I am not paying this.  I am thinking boiler can be kept for one of the units and install a furnace for the other.  Anyone have experience with this?  I am thinking some reconfiguring of pipes for the boiler and some duct work and gas lines for furnace.  I am I getting into something that is too expensive? 872 sq ft each floor.  

Great thank you all.  We use a property manager and I have been working with him also.  It seems we will be buying our duplex.  This will be are first to meet the 2% rule.  So excited about that.  

I have been having good success with SFR rentals, but am now being offered a duplex and is will be a good deal. SFR's were 3/1 duplex is 2-2/1's. can anyone give me an idea of change in vacancy rates or tenant quality. I realize this will change with the market, but just general experiences would be good. As always I appreciate the input.

I have been having good success with SFR rentals, but am now being offered a duplex and is will be a good deal. SFR's were 3/1 duplex is 2-2/1's. can anyone give me an idea of change in vacancy rates or tenant quality. I realize this will change with the market, but just general experiences would be good. As always I appreciate the input.

Thank you all for the replies and good information. I may be getting ahead of myself. I am 3 rentals and 3 flips in. In about 3 years. Just tired of one at a time. Very slow with all SFR's.

$169,000. Valparaiso, IN

So I am considering a 5 unit, but the financing seems very risky.  Spoke with a commercial lender and basically it seems as though it is amortized over 30 years, but I would have to either refinance or pay off the balance every 3 years.  With an adjustable rate.  Seems pretty risky.  Anyone else have any other suggestions?  

Thanks all for the responses. Supposed to be getting an offer tomorrow.  I think when it comes down to it, I prefer to sell. That way I can pay down the home equity and have about 50k to start again.   Otherwise i take a mortgage of $55k and use money for next investment, I am stuck with high debt on heloc.  All your comments do make me feel like it wouldn't be a bad investment if I did keep it. So thank you.