Offlinei just bought a new 4 family and i offer free hot water and heat, however i wnat some tips on keeping my heat bill dowm. Should i even offer that someone help me out before i commit to this decision.
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i just bought a new 4 family and i offer free hot water and heat, however i wnat some tips on keeping my heat bill dowm. Should i even offer that someone help me out before i commit to this decision.
Didn't you ask this same question in one of your posts some time back? It appears you are on the fence with this deal. Well, it is time to make a decision. Since the seller pays utilities, ask him for copies of all the heat,water and electric bills for the last year. If the costs fit in with your other expenses like mortgage, taxes and insurance and you can still turn a positive monthly cash flow then go for the deal. If I have learned one thing from real estate investing, it is this: Good deals won't stay on the market. If the numbers crunch and you can make some $$ then the decision is your to make. Good luck...Jan
Have an updated thermostat that can electroncally lock in a temperature
Cover it with a lockbox if you're concerned your tenants will make the place hot like the equator
Also go on a monthly budget plan with your heating company
From my experience from living in military housing, I saw alot of abuse of energy and other utilities. When you don't pay for something directly you tend to over-use it. I did and I'm a frugal person.