- Joined
- Jan 18, 2016
- Messages
- 161
Hi,
I’m working on a possible investment build and it looks like the property would best be used as a 6plex building. We haven’t nailed down all the details yet, but I’m looking for any insight into the following:
1) should we do common utilities? Instead of each unit with their own furnace/hwt? I’m guessing the cost is significantly less if it was a common system... anyone have recent costs?
2) If we choose a common system, heat and water would be included in rent.. so when working on the proforma... I’m at a loss in knowing or even guessing what utilities would cost on a 6plex.. anyone have some insights as to what I should run the numbers at? (They would be mostly 3bed 2 bath units based on the blueprint we are currently running with)
We are also still on the fence if we will hold the building or sell them off individually... at the moment I’m leaning toward pulling in investors that want the long term hold structure... that being said- should we condominiumize it now... or only if we are going to sell them off right away? Anyone know an estimate on that?
Thanks for reading!! And helping!
Sent from my iPhone using myREINspace
I’m working on a possible investment build and it looks like the property would best be used as a 6plex building. We haven’t nailed down all the details yet, but I’m looking for any insight into the following:
1) should we do common utilities? Instead of each unit with their own furnace/hwt? I’m guessing the cost is significantly less if it was a common system... anyone have recent costs?
2) If we choose a common system, heat and water would be included in rent.. so when working on the proforma... I’m at a loss in knowing or even guessing what utilities would cost on a 6plex.. anyone have some insights as to what I should run the numbers at? (They would be mostly 3bed 2 bath units based on the blueprint we are currently running with)
We are also still on the fence if we will hold the building or sell them off individually... at the moment I’m leaning toward pulling in investors that want the long term hold structure... that being said- should we condominiumize it now... or only if we are going to sell them off right away? Anyone know an estimate on that?
Thanks for reading!! And helping!
Sent from my iPhone using myREINspace