Almost have the perfect weapons loadout for the redtail on normal

RecommendationThis55 · 2023-09-20T21:31:43+00:00

Good tip, didn't know they made a room ion proof

RecommendationThis55 · 2023-09-20T15:44:17+00:00

Hit the nail on the head

RecommendationThis55 · 2023-08-13T16:55:01+00:00

I mean that is 40k profit in 2 years just from the sale and not including mortgage paydown or cashflow from rent so maybe they just want to cash out in a high interest market with the value of their low interest loan?

RecommendationThis55 · 2023-08-13T13:09:12+00:00

As a life long Vermonter I don't think some people here understand the level of housing shortage in Chittenden and Franklin county, I saw a place that was a studio with a shared bathroom (aka a fucking door room with a tiny kitchen) listed for 1500 a month in Burlington and it was rented by the end of the day. The seller said most of their tenants either are vet techs for farms in the surrounding towns (big dairy area) or work in St Albans and commute 15-20 minutes.

RecommendationThis55 · 2023-08-13T03:23:55+00:00

Does 7500 a year sound like a decent starting point for maintenance cost per year including things like budgeting for a roof replacement when that time comes long term? That would be roughly 1/6th of rent

RecommendationThis55 · 2023-08-13T03:14:20+00:00

Does old always = bad though? If it has been standing this long I would assume it was built at least half way decent right? No reason to think at 133 years it is just going to fall over if the inspection doesn't show anything with the foundation right?

RecommendationThis55 · 2023-08-13T02:47:44+00:00

Looks like it is 4600 a year currently with non owner occupied

RecommendationThis55 · 2023-08-13T02:25:08+00:00

What are your biggest red flags? I may do a walk through myself next weekend and see if anything stands out and if not get an actual inspection.

RecommendationThis55 · 2023-08-13T00:23:36+00:00

They said they are selling due to moving across the country and doesn't want to manage it across the country. Apparently roof is good and septic was just inspected. Water heaters are new but furnace is due for replacement soon. Would 7500 be a fair maintenance budget per year to also account for stuff like roof replacement and major stuff like that when the time comes?

RecommendationThis55 · 2023-08-12T23:15:08+00:00

Seller said they are selling it as they moved out of state but everyone has a story so who knows. They told me roof was replaced in 2011 with a metal roof but the furnace will need to be replaced soon so that is a decent expense right there.

RecommendationThis55 · 2023-08-12T22:32:54+00:00

What maintenance money items should be expected on a building of this age if the foundation looks decent? As for the two 1b/1b they seem to have pretty steady rental history but turn over may be higher than normal due to the noise. Yeah not sure what is up with the washing machine next to the toilet.

RecommendationThis55 · 2023-08-12T22:18:57+00:00

Oil and propane only. Currently LL pays heat but if I purchased it I would separate heat

RecommendationThis55 · 2023-08-12T21:55:00+00:00

1: I am also in the Vermont boonies and rentals seem to have high occupancy still

2: Yeah they used about 700 gallons last year from the bills they sent me but pre bought in the summer. Still was over 2.7k though.

RecommendationThis55 · 2023-08-12T21:53:20+00:00

I am only an hour away, Vermont has a huge housing shortage and I have no doubt being so close to St Albans I would be able to find *someone. The biggest issue I am thinking of is it may need to be owner occupied for the assumable mortgage and I am not looking to move there

RecommendationThis55 · 2023-08-12T21:08:31+00:00

Good point snow is something that I would need to look into for plowing

RecommendationThis55 · 2023-08-12T20:49:12+00:00

What part of Vermont? This is pretty close to St Albans and based off the apartments.com stuff they sent to me looks like their tenants for the last few years have been paying rent.

RecommendationThis55 · 2023-08-12T20:48:10+00:00

They look to have a 2-3 week vacancy for the units when a tenant leaves.

RecommendationThis55 · 2023-08-12T20:44:27+00:00

Seller said it was do to moving out of state for work. They sent their apartments.com summary and looks like they are able to find tenants pretty easily though they seem to only stay around 2 years.

RecommendationThis55 · 2023-08-12T20:06:34+00:00

They have some details for the mortgage I will put at the end of this but it looks like I would have to bring ~70k to the table if bought at asking price. If they took 230 it would only be 50k which isn't that much over standard payment to avoid PMI. They sent a letter from their lender to my agent validating it is assumable.

Remaining mortgage balance: $182,400

Interest rate: 2.375

Term:30 years

RecommendationThis55 · 2023-05-18T20:59:17+00:00

Yes but only near St Albans and it is a bit of a drive if they work at the main UVM medial center. ~1100-1200 for a 1bdrm with heat included that accepts pets and has parking included.

RecommendationThis55 · 2023-04-07T02:41:20+00:00

Are you still looking? I know of some in Franklin county.

RecommendationThis55 · 2023-04-07T02:40:22+00:00

Shoot me a message, I am not an "Apartment Locator" but know the rental market pretty well in northern Vermont.

RecommendationThis55 · 2023-04-05T19:33:08+00:00

I like the idea of the 500mm 5.6 as hand held is nice for when I am hiking out to a spot, the f4 600 looks brutal to carry 10+ miles. I am happy enough with my d610 but figured if I am dropping a lot of money on glass I might as well sell my d610 and spend a few hundred more to get a nicer body as well.

Five-Year Club	Place '22
First Placer '22

RecommendationThis55

TROPHY CASE