All Forum Posts by: Keith Baird

Morning All, I run a RE Dev firm historically focused on rehabs and ground up. My highest priority 2015 goal is to aggressively build my rentals portfolio. I operate in the Boston MA area where you will pay 500k for a subsidized 3 fam (at a minimum). I would love to hear everyone's favorite metrics for analyzing buy and holds. Looking forward to hearing your input. Thanks, Keith

I think refinancing an existing property is a great solution. I am personally not a fan of spending countless hours and all of your energy searching for a way to fund a deal without using your own capital, it so often ends up not working out. The fact is, real estate investing may not be for everyone, its a step in the financial ladder that comes after establishing a personal financial foundation. The "cash is king" mantra will ultimately prove true, without adequate capital, it is extremely difficult and extremely stressful stringing deals together, and I suspect it ends up catching up to the majority of people that go that route.

By which i mean, he is responsible for his unit, not you as long as you have not pitched your roof outside of local codes or with ill intent to damage his property. It sounds like a reach to me, I would sit with an attorney to respond to any written complaints that he may present going forward.

My initial reaction is... you are responsible for the flashing, waterproofing and drainage of your property. Is there an HOA of Condo Association?

Another crucial consideration should be end user demand. What price point is hottest in that area, what does inventory look like? If the area is in need of luxury units, then fewer, nicer units may be optimal. Alternatively, like where I do business, the market for "affordable" units is so hot that days on market is under a week. Just my 2 cents... good luck on your project.

I think this is a terrific strategy for your buy and holds. The renters are typically able to pay, aren't in the property for 365 days/yr, aren't demanding in their finish requirements and are willing to put up deposits for the expected wear and tear. Its a solid niche to focus on, especially for a new investor.

Hi Jeremiah,

I do a lot of development in Brookline and Newton (very similar markets to Cambridge) and from the little that I know of your project I would say this seems high. For my customary finish levels, at that square footage, I would look to pay around $16k assuming there are no extraordinarily difficult aspects of the project.

Good luck with your search-

Keith

Hi Chris,

What area of RE do you specialize in?

I have a development business in Newton and some of the surrounding top tier suburbs. Would love to share ideas/network.

See you around BP..

Hi Justin,

I know this reply is a little late but I am just now trying to get involved in the BP community. My company invests in Newton and surrounding towns (Brookiling, Cambridge).

Although I specialize in the find, fix and flip model, I am involved in some buy and hold props and would be happy to share my experience with you. My current take on the market is that rents are high and going higher but rising acquisition costs are making finding the right properties increasingly more challenging.

Wondering, have you ever considered a two pronged strategy that includes flipping?

Looking forward to hearing more about the progression of your RE venture!

-Keith

Dan, like Maryann, I have a great attorney in Newton MA that is very experienced working with investors. His name/#:

Stefan Nathanson, Esq.

Ligris + Associates, PC
1188 Centre Street, Newton, MA 02459
Phone 617.274.1500
Fax 617.274.1515
Email [email protected]