All Forum Posts by: Jahan Habib

@Dave Visaya Thank you Dave! Glad to be here!

@Jon Huber All good advice, I am starting on the podcast marathon. The information on BP is priceless.

@Brandon Turner Hey Brandon, I feel like I know you and Josh D from all the podcasts. I'm going to set up keyword alerts right now. I am planning on getting the Pro membership in January, 2015 (timing due to tax purposes). I'll be more active on the forums as my schedule frees up. Besides the day job, I have 1 deal already cooking.

@Mike Hurney  Thank you for the message. 

Both Marblehead and Swampscott are very nice towns. Boston metro is a tough market to crack especially with the rising prices.

Besides the day job, I have school commitments that should end by Jan, 2015. Therefore, I am looking at more turnkey deals at this time. I do intend to start a marketing campaign and aggressively pursue significantly below market buy and hold deals in Spring/Summer 2015. Right now, I'll be happy to close on the 4 Unit in Western MA and manage it.

@Account Closed  Thanks for the message. I look forward to connecting regarding construction management.

@James Wise Thanks for the welcome, James. Definitely look forward to connecting.

Guys, I'm working on my first deal (4 Units). I am planning on buying a few single and multis for rentals in 2015. I am targeting Southern New England for the deals and will be starting new threads in the Analysis and Advice section of the forum.

My goal is to eventually achieve $5000/month in cash flow from Real Estate investments. I love my day job and intend to keep it, so no flipping, this will just be buy and hold. I am keenly interested in discussing financing and partnerships.

@Cory E.  Thanks Cory! We'll see if it's worth the investment.

Wow so many responses! I'll try to update every on my investing strategy over the weekend -- it is super focused, and perhaps, you guys can comment.

@Vala Shahabi  Thanks for the response, Vala. I look forward to connecting in the future.

@Gerald Harris I really appreciate the link, Gerald. Looks like I have the work cut out for me, in terms of education. I'm glad that you created this resource.

@Shaun Reilly I appreciate the information on the local REIA meetings. I am definitely going to attend Boston/Worcester Black Diamond meetings. You're right, I am interested in CT/RI as well, so it might be worth checking out the REIAs there as well. If I run into you at any of these meetings, I'll be sure to introduce myself in person.

@Elizabeth Colegrove  I definitely have plans that match you and your husbands. I am primarily interested in cash flow producing RE. Your blog seems very informative, I'll definitely check it out and also considering starting one of my own.

@Joshua Dawson Thanks for the welcome, Josh. From a cash flow perspective, Boston (City proper) seems to be tough at this time. However if you see possibilities in East Boston, I'd be interested in 3-4 Units. I have a NACA preapproval and some solid financials, thanks to the day job.

Hi Bill,

Thanks for the comments. I'll address them individually:

Property Management: Is it worth taking over the property management myself? It is an OO deal, but I can always say that my uncle owns the building. I can divert the $100 to Maintenance and still keep my net income $520.00/month?

Maintenance: I can add another $100 per month.

Water: One of the 3 bed Unit has family living in them and the other unit (now vacant) use to have a family living there as well.

Initial Rehab: This is a B-/C+ area with tenants in place, I would defer any rehab until one of them leaves/asked to vacate. I'll probably keep a month to month arrangement with them.

Great insights!

 It's in Non-Springfield, Hampshire County :)

Hi Gregory,

Thanks for the responses. A few clarifications:

- 3.75% Rate: Yes, I am planning on living in one of the units. I'd be a first time home buyer and I'd be living in the worst 1 Bd unit.

- Trash Fee: Good question, it prompted me to ask the RE agent. Apparently, the tenants have to buy these trash bags sold by the town in order for the trash to be collected.

- Electricity: Yes, electric fee is just for the hallways and common areas. 

- Property management: The sellers RE agent's company does property management and he gave me that $100 quote. I'll check with a few other property management companies to verify. 

Honestly, this deal seems like a slam dunk, so I am very skeptical -- if you see any other issues with the numbers or anything else that I need to consider, please me know. I'd rather get this deal put through the ringer and then make the offer, instead of buying something being stuck with a problem property.

I appreciate your analysis!

Hi Everyone,

My name is Jahan and I am from Boston, MA. While I have been reading BP Forums and listen to the excellent podcasts with Josh and Brandon -- I am beginning to get active on the site as I am seeing some RE Investment possibilities.

A little bit about me: I have an excellent day job which I intend to keep. I am primarily interested in Buy and Hold deals in MA, possibly RI/CT. I am a licensed RE Salesperson and currently trying to absorb as much as I can.

I look forward to connecting with the BP community in BP in New England and elsewhere!

Jahan

Hi Everyone,

This is my first post on BP! I need your advice regarding a Fourplex Deal that I am presently analyzing the numbers. The plan would be buy and hold.

Asking Price: $260,000

Down payment: $10,000

Cashflow: $3,300 per month (2 - 1 Bedroom Units; 2 - 3 Bedroom Units)

Now, let me run through the numbers on a monthly basis:

Principal + Interest: $1,157.79 ($250K @ 3.75%)

Taxes: $325.00

Insurance: $117.50

Electricity: $27.60

Water/Sewer: $322.00

Vacancy (10%): $330.00

Property Management: $100.00

Maintenance Allowance: $400.00

Net Income: $520.00

The property is located in an older industrial town in Western MA and the neighborhood is B-/C+. Presently 3 of 4 units are rented, with the 4th unit being renovated and will be rented for the new owner. No leases, just month to month.

Please review and do let me know your thoughts about this deal. What am I missing here?

I'll also post a formal introduction in the New Members Introduction forum as well.