All Forum Posts by: Alicia R.

we haven't signed the P&S yet. my offer was accepted and we had a home inspection. i have a contingency in my offer for mortgage of course and for the inspection and property appraising, not for the bedrooms. i knew it was converted but not that they didn't obtain a permit. i called city hall and no permits for the property. but the price is high and i would need the 3bed rental income to qualify. so not sure what to do.

Hi all - I'm under agreement for a multifamily in MA. The MLS lists 3beds but the city records list 2 beds...its been converted but there was no permit with the city. my approval is based on rental income for the 3bed not the 2bed. I asked the seller to obtain a permit. Any thoughts/opinions?

Hi all,

Like most I am looking to buy a multifamily but unlike most I'm qualified and am actively looking. My target areas are the South Shore and along the Providence/Stoughton commuter rail line. I'm turning to bigger pockets as it seems hard to connect with agents via MLS (noone gets back to you!). So if anyone knows of anything please PM me. I can close in 30 days. I'd prefer a 2 family but am open to a 3 or 4 family.

Thanks!

look up the homestead protection in your state. in MA you are protected up to 500K for your personal residence..if you put it in an LLC you lose that protection. I think you also lose some other personal residence exemptions..I would consider keeping properties separate that way if you get sued they can't get at your whole portfolio.

Congrats!

Thanks!

offer the tenant cash for keys...how long do u have to stay in the house? most programs are only 5-10 years max

Nice to meet you. I am studying for my RE exam next month.

can u get a 0% balance transfer card and pay one card off in full before the interest rate goes back up?

Hi all, planning on setting up an LLC but was told by a CPA in boston to do an S Corp instead because it has just about the same protections and that an LLC has a $500 annual filing fee. so each year I'd have to pay $500 just to keep up the LLC vs. aprox $109 for an S-Corp. Does anyone have any experience with this or can lend some advice/ideas? Thanks