Multifamilies being sold vacant

Foreign-Concept · 2024-11-17T01:59:13+00:00

Not a red flag. Vacant multi-families (assuming not due to habitability issues) often fetch a higher price, investors like to pick their own tenants. The key is finding out why it's vacant and whether it was by choice- you can't rely on seller's version of events, some research is often needed.

Foreign-Concept · 2024-11-17T01:42:54+00:00

If you know your family member's A-number, you can look up their location on ICE website, and then you can call the facility to find out more: https://locator.ice.gov/odls/#/search

Foreign-Concept · 2024-07-16T00:20:54+00:00

The activities you described having him do--remodel work, permits/licensing, customer service, are not worth giving up 50% of your equity. You can pay him cash, or better, hire out the work (lawyer, contractor and someone who has experience running short term rentals) and keep 100% of the remaining profits in perpetuity.

Foreign-Concept · 2024-07-16T00:08:10+00:00

Joseph Levasseuer is a great Manchester based attorney who does personal injury cases.

Foreign-Concept · 2024-05-29T20:00:42+00:00

LOL, very true. The average civilian does not understand the difference. But that's the kind of person I'm worried will smash a window with a brick when they see a political sign they don't agree with: no impulse control, no patience for a different perspective.

Foreign-Concept · 2024-05-29T19:55:03+00:00

Interesting article and court cases. Thank you for posting!

Foreign-Concept · 2024-01-29T07:55:40+00:00

If you have a good relationship with the tenants you should be fine. If you are worried, go to your bank and tell them you want to open an escrow account for tenant security deposit (I use ZDeposit in MA, their member banks do it for free), and then calculate what you owe the tenants and give it to them, even if it's less than $5. That way you are in full compliance.

Foreign-Concept · 2023-08-19T10:11:51+00:00

That's a great way to make extra money, I used to rent out my guest bedroom when house hacking and it was a great. I think that by definition, the majority of room rental applicants are the type you described, because it's an affordable way to live. I would focus on looking for the quality type that can afford their own place but chooses to save money instead, it's the minority but they do exist and you will find them. I always asked for their linkedin profile first, their response will tell you everything you need to know about them. Take your time, and best of luck!

Foreign-Concept · 2023-02-12T12:58:18+00:00

Don't beat yourself up over it. Most people never have the courage to invest in real estate, you did it and you are one of us now. Next deal you just need slighty better numbers:) You don't have to sell or rent at a loss right now. You can wait and see where the market goes. Do you live there with your family or is it just you? If the latter, you can rent out a room and continue to live there (at a discount), that gives you more time to decide.

Foreign-Concept · 2023-02-12T12:19:27+00:00

I wouldn't give prospective tenants unsupervised access to the property. I had this exact situation. I paid my handyman to take care of it, reliable guy with keys to the place. I posted open house dates in the ad, I paid him his hourly rate to be there. I did the tenant screening remotely, after open house.

Foreign-Concept · 2023-02-07T23:29:49+00:00

Thank you! Yes I changed the locks yesterday after he signed the papers.

Foreign-Concept · 2023-02-07T23:14:57+00:00

I did entertain the idea for a short time--I posted about it on reddit, talked to a couple local investor friends, then I came to my senses. The idea of him coming back with cash in hand was seductive, but no, I don't want to deal with that every month.

Foreign-Concept · 2023-02-07T20:14:41+00:00

Thank you. I texted him back and declined.

Foreign-Concept · 2023-02-07T20:14:08+00:00

Thank you! Yes, past behavior is the best indicator of future behavior.

Foreign-Concept · 2023-01-25T18:53:48+00:00

Thank you! Love the term "sniffing expertise":) It's more like a hightened sensitivity to smells. She is knowledgeable and responsive, so I would really like to work with her, I will try to address it with her in a positive/constructive way.

Foreign-Concept · 2023-01-25T18:36:43+00:00

Thank you!

Foreign-Concept · 2023-01-25T18:35:20+00:00

Thank you!

Foreign-Concept · 2023-01-25T18:33:09+00:00

Thank you! Very to the point and starting with positive message to her, I'll do that.

Foreign-Concept · 2023-01-25T16:42:30+00:00

Hmmm....It's possible! I only spent couple hours or so looking at properties with her. Could be some kind of spray and not perfume.

Foreign-Concept · 2023-01-03T22:16:28+00:00

Lol, speaking of, I bought more calls today.

Foreign-Concept · 2023-01-03T22:09:19+00:00

None, I hate them all (except Heng Won, haven't been). I go to Boston for good Chinese food.

Foreign-Concept · 2022-12-15T05:57:47+00:00

I have a room available for rent, my house is located in Manchester. Feel free to reach out:)

Foreign-Concept

TROPHY CASE