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Rental Income Podcast With Dan Lane

Don't Let Utilities Ruin Your Cash Flow With Kelly Koontz (Ep 471)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.8836 Ratings

🗓️ 28 May 2024

⏱️ 20 minutes

🧾️ Download transcript

Summary

As an investor, if you have to pay for utilities, it can kill your cash flow. Having a utility company submeter each unit isn't always an option, and if it is, it can be costly.

On this episode, Kelly shares a unique way to submeter buildings, without involving the utility companies.

A meter is placed in the building that measures usage for each tenant.

The landlord can then bill each tenant for their actual usage.

Kelly talks about the cost of installing the meters, ongoing costs, and how the usage and rate data is compiled.

https://rentalincomepodcast.com/episode471

Transcript

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0:00.0

inspiring interviews with today's top landlords this is the rental income podcast and now

0:08.4

dan lane kelly i came across a deal a couple weeks ago on a duplex the numbers looked great

0:14.9

but when i looked into a little bit further it kind of didn't make sense anymore because as the owner, I was going

0:23.3

to have to pay the utilities and that would have killed the cash flow. So I passed on the deal,

0:29.1

but you think I may have made a mistake there, right? Well, I think that you don't have to just

0:35.9

assume that you as the owner have to pay for those

0:39.7

utilities that's exactly what um,

0:42.5

submitering can do is you can transfer those costs onto your, to your residence.

0:48.4

The problem with submetering is that not every utility company is going to let you do it.

0:54.1

And if they do, it can be pretty expensive.

0:57.2

On the podcast today, Kelly is going to share with us a pretty unique way to Submeter

1:02.4

that doesn't involve the utility company and is really very inexpensive.

1:07.5

Joining us on the show today from Seattle is Kelly Coons. We'll take a quick break to thank our

1:13.3

sponsors. We'll come right back and we'll talk to Kelly. It's a lot of work to find a really good

1:18.4

rental property. And when you actually find that property, you want to make sure you're working

1:22.3

with a lender that can get that loan closed. The lender that I recommend is Chaley Ridge from Ridge Lending Group.

1:29.8

She's a nationwide lender and her specialty is helping investors finance rental properties.

1:35.5

She has a ton of loan programs and she can find something customized to you for your situation.

1:41.3

If you want to find out more or you're ready to get started today, just go to

1:44.9

Ridgelendinggroup.com. That's R-I-D-G-E lending group.com. NMLS 42056. When it comes to hiring,

1:54.6

the best way to search for a candidate isn't to search at all. Don't search match with Indeed.

1:59.6

Indeed is your matching in hiring platform with over

...

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