All Forum Posts by: Account Closed

I'm hoping to find an accountant who is experienced with house hacking and rentals. Any recommendations for central mass area?

I've finding it embarrassingly difficult to deal with contractors who keep rescheduling. I'll tell the tenants that on x day that I'll be by with a contractor to get a bid on a replacement window. The contractor doesn't show up or they show up 2 hours late. So then I have to go back and give the tenant another time to meet a different contractor. Then when I pick a contractor, I tell the tenant that they will be getting a new X on X date and I will be there at x time. I confirm with the contractors a few days in advance and then the day comes and I get a text saying "'im sorry but I need to reschedule." Now it's back to texting the tenant to coordinate a time next week. I'm tired of texting tenants to let him know that YET AGAIN a contractor has canceled. What is the best way to scheduling maintenance work for rental units? It makes me look bad when I make promises and contractors don't pull through.

So I called the bank and couldn't even get someone on the line. An automated message popped up that said something along the lines of "the property will be listed with an REO" and the call automatically ended. Banks are crazy. I'll keep an eye on the auction websites.

Congrats on the improved schedule. I struggled to get out of the field for a while. It took years. I ended up going back to school and completed a data science certificate and I nailed a great clinical data job. No weekends, No holidays, better pay, and I have some control of my schedule. I still want to be free from the 9-5 job though! 

I too am a Lab tech (recently got a desk job finally whoop!). I stay motivated by looking towards a future where I don't have to sit in traffic for an hour every morning on the way to work, a future where I can buy plane tickets on a whim just because I can, or a future where I can go hiking every afternoon with my dog instead of sitting in a sterile lunch room at work. My first purchase was scary. I was alone both times and I was excited up until the offers were excepted and then I started thinking... "holy sh**, what did I just do?! I can't afford this." The first few years were tough. I'm single, so I didn't have anyone to complain to or get help from, or have a back up person to help pay the bills. But after a few years went by, things got easier and easier, and all the stress was worth it. Now I'm ready and eager to do it again...!

I've been eyeing this one property. It's been vacant for many years and I can see it foreclosed in 2014! The owner passed away and the house does need work, but I have a good idea about the work involved. The most activity I've seen at the house is about a year ago, a moving truck showed up and emptied the house of all the remaining items... But why hasn't the bank listed the property in the last 5 years? Is it a bad idea to call up the bank and put in an offer before it's listed? Ps. It's on my street and it's the only other multifamily on a street of mostly well maintained single family homes.

Hi, I grew up in Worcester and am familiar with the good and bad. I see it's made some huge strides in recent years and I think it will keep moving in a positive direction. I have one 2 family in Worcester and it's working out well. Whereabouts did you buy and how's it going?

As for the lights, technically they are in outdoor public spaces, but only used by one tenant. I guess it's better to be safe than sorry. I live in Massachusetts, and seems like most laws are pro tenant. I haven't have a single issue so far with the electricity, but luck would have it that it goes as soon as I move out...

But I have considered buying properties outside of my area... I'm just afraid of turning control over to a management company. At least not until I'm a little more established. Still getting my feet wet I guess : /

Thanks for your replies. I'll look into Wells Fargo and a few other local banks. I've also considered selling and rebuying, but it doesn't seem to benefit me when I do the math. I wouldn't be able to get much better than the property I have now with equity, plus the selling/realtor fees, plus as a newer investor, it looks favorable to the banks since it has positive cash-flow and great rental history. One alternative I have is buying a new primary residence with less than 20 down, getting two roommates and saving up equity in a much shorter time.