All Forum Posts by: Andrew Freed

@Jay Hinrichs - The easiest would be to save the pic to your desktop and upload it via the button I circled earlier. The copy and paste method be the following:

1. Go to search bar at botton of windows

2. Type snipping tool

3. Control C the pic then Control V it onto the bigger pockets forum.

This is assuming you use a windows. Macs screenshot another way and you could do a simple google search to figure it out. 

You can always screenshot it too with "snipping tool" on windows and copy / paste.

@Jay Hinrichs  

In an effort to be as efficient as possible, I would like to start only using two types of paints for all of my units, one for common areas / bathrooms and the other for bedrooms. It'll just make maintenance so much easier. Any recommendations? I hear revere pewter tends to receive pretty positive reviews. 

@Zach Westerfield - Great questions! My overall budget is $4-5k. I am attempting to maximize profit. This is part of a 3 unit building, each unit is exactly the same. This will be a rental and I plan on holding it for at least 10 years. I 100% agree with your philosophy and am attempting to create that product in a smart and effective way. By creating a premium product in this market, I can increase my monthly rent by $200 - $300 dollars.

Any ideas on money saving tactics for this renovation? It's a 3 bedroom 1 bathroom apartment. I was planning on doing on the following:

-Paint all rooms, ideas for colors would be great

-Paint cabinets, replace cabinet handles

-Cover countertop with self adhensive granite laminate sheets

-Tile glaze bathroom

-Replace door hardware hinges and locks

-Upgrade lighting fixtures and install dimmers and speed controller for fans

-Screen or refinish hardwood floors underneath carpet

-Install luxury plank flooring for kitchen

-Replace filters, install smoke alarms in every room

@Gerardine Tshouongang Of course, happy to help. I worked with @Jon McCarron. He was very helpful throughout the entire deal seeking process. 

@Gerardine Tshouongang - Of course, I purchased my property @ $560K in the Grafton Hill / Vernon Hill area (zip code 01604). This was pretty much a turnkey property with each unit requiring some minor aesthetic upgrades. It's probably about $10K of renovations. Each unit is 3 bed 1 bathroom and after full renovations, I can get about $1600 - $1700 per unit. 

Worcester is a really tough market to purchase in due to the investor interest. Usually you are up against multiple investors who offer quick closing and cash offers. Let me know if you have any other questions. 

@Daniel Dollar - This is a good problem to have. I recommend trying to maintain a cash flowing asset if possible. I understand your concern about using your capital to move into another deal, however you do have options. You could always open up a home line of credit. I believe citizen bank offers a good one with no closing costs and super low interest rates. By opening up a HELOC (at essentially no cost), you can access you equity while still holding onto a cash flowing asset. I think given your situation, this might be your best option. I utilized this strategy to house hack a 3 family and it worked great!

FYI - You are able to use a HELOC for a down payment on a property. The interest only payment would count against your DTI, which is super minimal.

@Jay Hinrichs - Creativity can make you money. Great story and congrats on your success.