All Forum Posts by: Jerry N.

Chad,

There are really only 2 players in town, Android and Iphone. Windows have its own strengths but application market is not there.
My first question to you is, do you thinker with your devices a bit, did you ever program your VCR or did you use your PC or Laptop in anyway that you could share that as a tip to family or friend. I your answer to all or at least 2 of the questions yes then I would recommend Android, it has good variety of applications and its more open then apple products to let you configure that to your needs. If you are purely looking at this as a consumer to use it just like your TV or refrigerator then I suggest Iphone. Applications are usually more polished, consistent, somewhat easier to use.

I think I use to know what the classification of class A, B and C apartments meant but recently that knowledge has been challenged so here is my question.
Could this very from market to market or even investor to investor?
From what I have seen these terms have not been used uniformly by everyone.
As an example all my MFH are in the cities not towns.
Up to now I have classified these as B and C class. My C class is right in the city clean older building, safe street but areas around are mixed, there are some streets or buildings that I would rather not touch. My B class is still in city but more like a townhouse between 2 family and single family homes very quiet and safe neighborhood.
Recently I was investigating potential purchase that was presented to me as C class, however I was shocked with the condition or even amenities of that property. In my judgment this would have been E or F class property
Is there some sort of generic rule to classified property by location, price, condition or any other qualities?

Thank you.

Elijah.

I agree with Nathan but I would also consider which of his two examples is in more desireable location.
Don's comment is very good too but to take this one step further I would emphasis that your deal would have to be significantly below market in order for you to make money and for investor to buy at discount. Personally I would bring my agent to write contract with you unless you and me had done deals before, that would be additional cost to consider. But don't let this stop you, there are deals made this way. I know some people that do this and they make 1% of executed transaction that could be way for you to start before you build expirience and confidence.

Hi Jon,
Sorry for your loss.
We recently had similar situation with our grandmother, at first she was complaining about inner ear pain, than she was loosing her balance and it did fall couple times. Doctors were saying same thing old age but family did not give up, it was to rapid in their eyes and finally under family pressure they did MRI and turn up she had multiple mini strokes. She is good now, medicated but good.

Thank you all for the Welcome!

Jon - to answer your question we own relatively newer duplex by our market standard, it was build in late 1980's and we have three family house build in 1920's but it was recently rehabbed, new heaters, roof, bathrooms and kitchens. I'm starting to look for another property with good cash flow, 3 or maybe more units. However I'm concern that most of multifamily homes in our area are old, late 1800 to early 1900. How much of the life span these houses have? How long can we patch these homes? On positive note we are in good size market, not what it use to be but still many jobs here although I think it has been on decline overall last decade and especially last few years.

Hi, I'm new to BP and local CT REIA but my wife and I have bought first MF property in 2003 then from then until 2010 we were sitting on sidelines, in 2010 we bought our second MFH we are "buy and hold" type of investors. Nothing was making much of economic value for us in now so infamous 2005 - 2008 period :). So far common sense has been our main guidance in acquiring properties but lately I have been spending more time researching and learning how to accelerate our progress. I'm excited to learn as much as I have in few short months but I know I have lot more to learn and even more experience to gain. I'm happy to make friends with all BP members but I would like to also meet other CT investors here, if things go well I'm thinking about creating Local Master Mind Group. If I can give anyone single advise that I did not always folowed my self it would be: "Be curious and don't dismiss any ideas".