All Forum Posts by: Ben Granja

@Josh Dillingham I also agree with your synopsis as well. That price doesn’t seem to make sense to me either. Historical performance could prove me wrong but I think Josh’s statement is spot on.

@Joe E. I’ve really enjoyed it. I went from a sfh to a duplex so that’s also made life a lot easier. Of course some months are easier than others but it’s all part of the game. I only wish I could buy more.

@Shane Brown the market is crazy right now. No one is pricing appropriately or want way too low of returns so you’re not alone. Just have to be diligent on the listings. I’m invested in Burlington personally. As for your mortgage, if you are going for 4 units or less you will need strong cash flow in order to qualify for your loan. Check out the credit unions or spruce mortgage. Ingrid over there has had good rates for me in the past.

@Joe E. My pm inBurlington, VT is 75% of first month’s on new tenants and $50 per unit ongoing. Other managers I have interviewed were at 50% first months with a lower % of gross rents. Anyway you slice it with the exception of a really expensive one in the Chittenden County area most averaged around 6-8% when you looked at total fees annually over gross rent.

240 miles.

If you go the conventional route you can protect yourself post sale and ask your lender if moving the property to an llc will trigger the loan to come due. We actually talked about this exact issue in a meetup I go to in VT and no one had every actually had their loan called provided they were making payments. That said it’s a case by case situation so it’s not a guarantee. At the end of the day I wouldn’t let not being able to llc a property stop you from buying it. As others have said, adequate insurance by all partners is a great way to protect yourself as well.

I’m not in the area this weekend but I’m happy to talk about my experiences. If you want dm me and I’ll give you a call. Blair Knowles is great to talk to and can put you in contact with others in the area.

Agreeing with everyone else. Marketing probably isn’t your issue but picketfencepreview is good for fsbo properties and Craigslist May get some attention but probably just from people looking for deals. What is your agent identifying as your current issues?

The tax you are probably referring to is land gains tax. Originally instituted to prevent land speculation by ski resorts, it is applicable for the first 7 years of ownership. I believe the tax is waived if the buyer uses the house for a primary residency. A quick google search should bring up the state’s website with all the details. Ben

The state has a great pdf if you google it. Lays out the laws clearly. Tenant friendly.