All Forum Posts by: Bobby Thompson

This is why we practice and engage the community.. Learning a little more everyday. 

Thank you @Andrew Johnson

@Jake S. @John Woodrich Thanks for taking a look and for the pointers. I was worried that those rates were low. I didn't know that residential was capped at 4. Interesting. I will reconfigure for the 4-5 range. @Jake S. Good call on the repairs. I've never thought about more than three units at a time. Need to change that mindset.

@Jay Helms Yea, Taxachusetts can be pretty high. The numbers are estimates based on actuals that I have seen in the area for smaller properties. It takes forever to get the actuals from the realtors in the area. There is no lawn but snow removal will be an issue. Thank you for your time! I really appreciate it.

Hello Everyone, Doing a lot of deal analysis for practice. Cranking out a few a night. Getting close to my first deal. Came across this 6 unit multifamily (all 2 bed, 1 bath) in a B class neighborhood. Its in a nice area and seems to be in great shape. Going to look at it this weekend. 2 of 6 apartments are leased until Dec. The rest are TAW. I'm sure I missed something or provided unrealistic estimates. I would really appreciate your feedback. 

=====The Damage======

List Price: 475,000

Ask Price: 435,000 (30 year, 20% down, 4.3%)

Down:       87,000

Closing:    4,000

Repairs:    2,000 

=====Monthly Expenses=====

P&I:         1,722        Vacancy:        300 (5%)  

Taxes:     710           Cap/Rep:       600 (10%)

Insur.:     441           Waters:          250 

Mgmt:     600           Elec:               89

                                  Gas:                89

Total:       4801.15

=====Dat Rent=====

6 units, 2 bed 1 bath, $1000 each (Conservative for the area)

Total: $6000

=====The Numbers=====

 CashFlow:        1198.85 (199 a door)

CashOnCash:   15.47%

Cap:                    8.06%

2%Rule:             1.36%

@Domenic D'Aurora I agree with @Charlie MacPherson. There are opportunities in the South Shore area but that would be an awful commute. I commuted from Taunton to Waltham and it was not an enjoyable existence. I guess it depends on how much you like to drive and if you have a lot of BiggerPockets podcasts to catch up on.. 

I've talked to a few people that have found luck along Route 3 in Billerica and Lowell. I have heard that there are some rough neighborhoods mixed in that area but haven't seen it myself.  

@Lee Huffman Thanks for the advice! I will hit you up soon. Appreciate your time. 

@Alexander Felice are there any cards that you have found are particularly useful for making real estate related purchases? What is your favorite points system to build up?

Hey BP, I recently started following a few Youtube streamers that analyze credit card rewards systems and suggest strategies to earn cash back, skymiles, and points (AskSebby, BeatTheBush, and Credit Shifu). All of their strategies depend on you paying off your full balance as soon as you can. I don't think there is any good that can come from carrying a balance.. 

I started dabbling in maximizing my rewards using the Chase trifecta at the start of the year. So far so good. I'm also researching a Home Depot card to add the mix. My goal is to pay for any scouting or signing trips with just rewards points in 2018.

I would imagine that you can really rack up points and/or churn through signup bonuses if you charge major purchases and expenses through rewards cards and then pay them off immediately. Has anyone had any luck with these types of strategies? 

@Jennifer S. Hello Jennifer! I just reopened my account yesterday and saw your post. I was on a pretty long hiatus because my organization was acquired by a larger company and I have been heads down trying to integrate. Things are starting to calm down now and I have a lot of capital to invest, so I'm back! Haven't looked into this type of data in a while but I will definitely be diving back in. I will pass along whatever I find. PM me and let me know how the prices are in London!

@Mark Ryan@William Allen@Trevor Ewen@Edward B.

Whoa. Did not notice the bad grammar.. "I appreciate your insight and advice."

Hey Folks, Data nerd here. I originally posted this is innovative strategies forum but i think this forum might be a better home for this topic. Looking for as many publicly available (free) real estate data sets as I can get my hands on. I'm also interested in curated reports or data that may be related to the real estate market (Commercial info, sales in other markets, jobs reports, retail store locations). I'm currently working on merging or overlaying home value, rent, school ratings, state census info for fun. I'd love to take advantage of larger companies marketing and planning. I bet a company like Whole Foods is pretty sure an area is going to grow in population and/or income before they drop a new location.

Let me know if you're aware of any data sets like the ones I mentioned above. I'm specifically interested in data sets in the Massachusetts and Rhode Island but national sources are good too. What do you use to do your research?