All Forum Posts by: Chris Seveney

Jamal

Is this property still available ?

is the rehab estimate from a contractor?

Kate,

interested in more info on property in agate street and north market street.

@Cheryl Pepper,

I am checking out the local REIA. In regards to contractors, shoot me a private message and let me know what your looking for (what trades or a GC). I have many resources and contacts where I can point you in the right direction for what you would need.

Thanks

Send me a PM with location as I know of a large corporation looking for rentals. They pay top dollar and you know your getting paid every month but it depends on location as need to be close to their offices Thanks Chris

Contact a lawyer. Also be prepared to have another place to live because the city can come in at any moment and shut the house down. I would move out anyways as it is not worth risking your health.

It will depend on the jurisdiction and the type of repairs. If you are doing plumbing or electrical then definitely will need a permit. Can you be more specific on what type of work needs to be done ?

The initial post did not come out clear:

Purchase price $20,000 

Down payment $5000 (or could pay all cash) but figure minimize amount cash out of pocket 

Rental Income - $450/month 

This is a condo with fee of $125/month which covers exterior maintenance 

Taxes $375/yr 

Condo is 1 BR 1 bath in Massachusetts.

Its about 600sf Needs 2500 in repairs to get ready. ARV is $30,000

Thoughts ? 

Hey all,

New investor here in the Washington DC / Northern Virginia Area. Background is I have almost 20 years in the construction/real estate industry working for large general contractors and developers. 

Being new on BP and to investing, I am ultra conservative investor looking like everyone else on here who either has or is ready to make their first deal. 

Partnering with someone would be something I would consider, so if your interested or have questions about the area feel free to reach out. 

Thanks

$450

Looking to get first investment and wondering if this is a good deal for rental Purchase price $20,000 Down payment $5000 (or could pay cash) but figure minimize amount cash out of pocket Rental - $450/month This is a condo with fee of $125/month which covers exterior maintenance Taxes $375/yr Condo is 1 BR 1 bath about 600sf Needs 2500 in repairs to get ready. ARV is $30,000 Thoughts ?