All Forum Posts by: Aniket Thakur

@Nathan Emmert  I have requested rent rolls, maintenance records and expense reports for the last two years. I have gotten the list of repairs made by the owner, plus I went and looked at the property myself. It is in decent shape. Once I see the rent rolls, I will be able to get an idea on the rent payment timeliness.

All the units have separate meters for the utilities and the snow/grass removal is done by one of the long term tenants (3 + years). Plus the common lights are on their meter. So the rent is lower compared to others ($850) plus the current owner pays them $1000 for property maintenance and common lights bill.  I am going to request the lease documents to make sure everything is in writing

The house has been sitting on the market for over 4 months so it is a concern. There were a couple of price drops. The listing agent stated that the property was initially marketed for owner occupancy with the higher price.  It is listed at retail, The owner has had the house over 7 years and is kind of tired travelling 100+ miles to this unit.

Thanks for your input so far

@Nathan Emmert The 15K is for replacing the roof. I am not sure if I will be able to tap into the equity right away plus the seller will discount the price to account for the roof replacement. 

Some additional information I received in the last couple of days: The first unit is rented @$850 not $900 as orginally stated in the listing

Taxes: @$225 per month

Cleaning snow removal $85 per motnth

Trash: $25

Water/Sewer: $150

Common electricity :$10

So if I re do the numbers it comes to $635 or about 16% ROI per year

 Not sure if it is still a good deal, but it does bring in $200 per door

@Nathan Emmert the electric bill is only for the common area and the property manager will do the snow and grass cutting. I don't have an official quote on the insurance yet, but based on my research  $1200 annually seems to be average. I didn't account for the trash fee so I will have to add that. The tenants pay for all the utilities except the water and sewer. 

There are 3 units (2 3 bedrooms and 1 two bedroom) and the rents are in line with what others charge in this area. I didn't quite follow what you mean by "cash out refinance"? The property values don't appreciate so much in my area. 

@Steve OlafsonI did add 10% or $250 per month for vacancy. 

@Scott Weaner This is an average neighborhood so the prices are low. 

thanks Carlos and Dave. I have requested the listing agent for rent roll and maintenance records 

I am hoping to have these before signing the contract

Hi Everyone, 

Looking for insight on this deal.. It seems good to me so before I jump in I would really appreciate if there is anything missing from my analysis. The property is located in Western MA

Deal

Offer Price: $130,000 + closing costs

Down payment: $32,500 (25%)

Repairs: $15K

Cashflow: $2500 per month

Expenses:

Principal + Interest: ~500 (98,500 @ 4.75%)

Taxes: $220.00

Insurance: $100.00

Electricity: $30

Water/Sewer:  don't know yet Approx $100 per month

Vacancy (10%): $250

Property Manager: $200.00

Monthly Maintenance allowance (10%) = $250

Cash Flow: $950

Yearly ROI: 24%

Hi All,

I am looking into investing  in triplex that is fully rented out. The listing agent states that the 2 units have been occupied for 3 years and are on month to month lease and one was recently leased for a year. The agent states that the tenants are great and have been paying on time.

How do I verify if the information provided by the agent is accurate? I'd like to do my due diligence on the tenants to make I am comfortable and know all the facts and not depend on the listing agents information.  I haven't made an offer on the house and would hesitate to put in one until I have reliable information on the tenants

Any advise is appreciated

Thanks Shaun and Paul. Will definitely look into the resources 

Hello,

Introducing myself to the BP community from Western MA. Originally from India, and have been residing in Western MA area for last 15 years. I currently rent out a SFH in the Longmeadow and looking to further invest in duplex/triplexes Springfield MA area. I am definitely a beginner so looking forward to connect with the BP community and get educated

I am currently researching a triplex in the Liberty Heights neighborhood that is fully rented out.

Thanks for reading!