All Forum Posts by: Brendon Kerrigan

@Lien Vuong thanks for the quick response, I see your name pop up quite a bit on BP and around the city. So I actually have a property under contract over there, it won’t cash flow after I run all the numbers and account for vacancy/opex/capex, but does have positive flow of $900/mo before I calculate those numbers (negative by a couple hundred dollars).

So I am more curious about long term appreciation because of its unique location, and the massive development that will eventually go up over there.

Does that change your view at all?

Hey BP,

I am curious on what the local Boston investors think about Port Norfolk area and if its a good place to invest? The announcement of the "mini marina bay" seems like it could drive a lot of people there, but its already such a small area, I am not sure how this will all play out.  Curious how you all like that area for the next 10 years?

Thank you!

@Joshua Tessier@Jeremy Nault Manchester is very interesting.  I didn't know much about it, but one of the partners I am in with on the deal knows the market pretty well, already had another triplex, and honestly the only I did it with him is because it was off market and got it well below market value.  I don't know how long I want to be in that area.

@Tony Montano Right now I ended up buying a 3 family in Manchester NH with 2 partners, under value and going to refi out in March, that's the plan anyway.  I like what @Conner Olsen and @Josue Velney said with investing in appreciation early on and exchange it for cash flow later.

@Angela Li I highly doubt that area around Encore will become an Assembly pt2 because of its distant to assembly, they are just too close.  Be careful what developers say around that harbor area because as long as it has waterfront, a certain % of that area has to remain as industrial use.  My father in law has a marine construction business right in that area on the water so I am familiar with some of the restrictions for real estate investing for industrial vs residential use.

Everett is a tough one to know for sure, it does depend on Encore, but I also don't think it'll go down severely if Encore goes under or down in quality because of its proximity to Boston

I agree with both @Avery Heilbron and @Lien Vuong.  Everett also has a really big, decent highschool which will continue to attract people there.  Its only a matter of time before Encore figures it out.  When Encore first opened, I read that it was still losing close to $1m per day.  My only fear with Everett is that instead of Encore being the "high class" casino, it starts to take a dip because the revenues aren't what they were anticipating.  I believe it has recently been purchased/transferred ownership so we will see what happens, but it does concern me that even in its outset, it was still losing money every day.  Overall, I like Everett, but I do like some of the other surrounding towns better if you can find the right deal.

Hi BP Community,

I am about to place my first tenant and I used the $1 trial with RentRedi, so I went through their application process, which was relatively easy, streamlined, and I did like it.  However, now that I am placing my first tenant, and the tenant will be paying through the app, I am just a little weary on their payment processing system called Digitzs, seems like a small company and it will take 4-5 days for my payments to clear into my bank account.

I am trying to take the feedback from the podcast of setting up systems early so that as I grow I can continue to scale easily but I am tempted to just accept venmo/checks from my tenant.

Not sure if this will change anyone's opinions but the tenant is also section 8, so a good chunk of the rent will come from the government directly into my account.

Thanks for the help and feedback!

@Tom Wagner That is an interesting thought and I do agree appreciation can be life changing, but a lot of what Brandon and David talk about is not betting on appreciation but rather have it be icing on the cake.  I know there are different views and its interesting for sure, but sometimes I wonder in these markets are you going to really get the cash flow that some of the investors talk about on the podcast.  The answer is yes but I am still new to investing and building my network and team.

@Curtis Rouse Jr I do like cashflow for sure, and I try to analyze my deals conservatively, but sometimes I do let emotions get involved but I think that is because I don't have the deal flow that I should.

@Patrick Flynn I don't plan on putting down a large down payment, 1 because I don't have a large one, and 2, I like trying to get creative and trying not to put down big money, but rather force the appreciation.  The downside to it is that it makes it much more difficult to cashflow if you don't force enough equity into the property.

@Avery Heilbron Yes I have been trying to look around some of the towns that are right around Boston.  I see you post quite a bit in the Boston area forums and I appreciate all of your insight!!

Hey BP Community - I am really torn on this dilemma between accepting lower CF in Boston but experiencing more appreciation over time, or just move my money to the burbs or lesser appreciation areas for more cashflow.  Now I know a lot of comments will say it depends on your goals, but at the point in the market, I do feel as though prices are inflated so maybe purchasing a property in the city isn't the best idea because we will likely experience a market downturn soon, and then it'll take that much longer for appreciation to do its work.

Thoughts? Love to get a conversation going on where the market is, especially with residential rates going up over 3% for the first time since July. 

@Kyle Koziol I love my accountant - he has his own practice but he also invests in Real Estate.  DM me if you want his practice information