All Forum Posts by: Al Bigonia

Hi Matt,

I live in NH now, but spent the first 18 years of my life in Milwaukee. I still have a brother in the Milwaukee area, and another brother and sister elsewhere in Wisconsin. So I do get back there to visit.

 I own 2 duplexes, and a 5-Family in NH, and want to buy more rental units. I'm assuming the single family tenants pay all utilities, mow the lawn, and pay for plowing. Am I correct? Do you have a local Real Estate agent finding tenants for all units? And a local Property Manager for the Duplex? 

I would also like to see more detailed financials. 

Thank you Jordan.

rt Why can't we print any without getting the pictures of the BP books overlaying the article and making it unreadable? When did this start? I've tried printing them at home. I've tried printing them at work. I'm a Pro member and still get the same thing.

Hello Joseph. Welcome aboard. I live right down the road from you in Farmington, and work at Middleton Building Supply.

Anyway BP is a great place to learn about anything you want.

Hi Annie,

As usual Ann Bellamy is absolutely right. But I think what she's getting at in her comment about buying another one when you move, is that if you live in one apartment, you will in effect be paying a discounted rent. If you can save up another down payment for a second Duplex, you may be able to end up living rent-free. That's how I started out, and if you look at what that really means it will give you some perspective. Most peoples first thing they want before they retire is to have their home paid for, which gives them Taxes as their only rent payment. If you own 2 duplexes, and the tenants rents pay all expenses, including taxes.... you live rent-free, and you already have a better situation (before you retire) than what the average person has when they retire. And don't forget that if you're living rent free you can put that $1300/month ($15,600/yr.) towards buying more Real Estate at a good ROI. Just a different way to look at it!

Hi Sijie,

Welcome to BP. I live in the Seacoast area of NH, so I don't know the Nashua Market. If it's anything like the Seacoast I don't think you can be profitable enough to use a property manager on a 2 or 3 family property. Also the 4 family's over here are going for over $200,000 on MLS. I think you'll probably be looking at something that needs a lot of work at that price. Anyway. in your research make sure you know how to crunch the numbers, and use the BP calculators

I just got a note from my accountant that the IRS decided NOT to require us to file a form 3115. All you accountants need to let your clients know. A big thanks to Uncle Sam from us early filers who wasted our money.

I agree with Ann on all points she made. I just bought a 5-family last July, and thought it was a good deal. Heating and Plowing are taking a huge chunk out of my profits. Not sure I'll buy another property where I pay the heat. Think about the years when Heating costs went wayyyyy up. The Landlord is stuck with that huge variable. The snow, I realize has probably been a "worst case" this year.

Welcome Joshua,

Just my opinion, but if I was starting over and in your position I would pay the minimum on my Student loans. Unless things have changed they are usually low interest loans. I'd put that $6000 extra your sending them per year into down payments, and fix-up costs. If you can get a mortgage on a 2-4 family then you can get another property sooner that way. I know that's the boring, slow way to do REI, but your young.

Hi Danielle,

I'd recommend buying Turbo Tax for rental properties. (+/-$90) It will ask you all the questions and walk you thru everything. I own 2 duplexes, and a 5 Family. I went to an accountant to see if I really needed them this year since I just bought the 5 Family in July, but there's still nothing I need to pay an accountant $500 to do my taxes for.