All Forum Posts by: Cameron Iarrobino

Hello - I am located in Boston suburbs, and am looking for local lender who offers a line of credit against an investment / rental property, preferably up to 75% LTV. Please comment below if this is something you can help with

 since it's related to what you said, know what else I can't stand, and I won't tolerate at all? A prospective tenant views the apt with me, and I tell them "What you see is what you get, aside from a good cleaning, if you were to move in here, this is how you would get the apartment" .....then they move in and it's "what about this little paint blemish on the wall, what about that 1 cracked floor tile in the kitchen" ......I shut it right down. Unless it's something that happened after they viewed the apt, and I feel it's something which should be addressed, tough ****. Buy you own place if you want to be a perfectionist

 Definitely a less stressful way to do it the way you're describing, but I would say that 0 down time is a pretty ordinary procedure / SOP, unless a unit is getting significant renovations. Even if there are ordinary items requiring wear & tear, again unless it's significant work, they can be done while a tenant is in place. I've been in the apartment recently anyways and other than a little paint / drywall repair here and there, it doesn't need anything. An apartment sitting empty costs money.

Hello all, I'm located in MA. Hoping someone with some state-level context can chime in here. Had a lease with a tenant in one of my apartments which ran through 4-30-2024. They asked a few months back about possibility of moving out early, specifically for 2/29. I told them sure, if I can find someone qualified to move in for March 1st. Did some showings last month, found someone who really wants the apartment to move in for March 1st. Before signing the lease with these new folks, I re-confirmed with existing tenant that they still wanted 2/29 move-out date, and that they were able to have the apartment move-in ready condition for that date. They confirmed, we signed a lease amendment stating that it would end for 2-29 and therefore they agree to have the apartment move-in ready no later than 2-29. 

I'm just thinking ahead, say that the 29th or so rolls around and they tell me they're moved out and there's some items left behind. My understanding is that so long as they confirm that they're moved out and give me the keys, I'm well within my rights to just have a junk remover / trash company take whatever was not there to begin with, and deduct that from the security deposit? From my research, the only gray area would be whether or not the tenant continues to plan to reside there / has ended their residency or not?

Hi everyone -

Recently acquired a SFH which I'm occupying for now and intend to potentially rent out in future. The current heating setup is FHW via an oil-fired boiler. Hot water is also provided by the boiler (via a tankless coil inside boiler). There are gas lines at the street, and the gas co is willing to bring gas into my house & install a meter for a $1000 refundable deposit (refunded if I hook up my heating system within certain amount of time, I think 6 months).

I would really prefer to get this house on gas, but the boiler itself is relatively young and good-quality and I've concluded it does not make sense to walk away from it anytime soon. I've gotten quotes on a whole new gas-fired boiler and it's just too much to replace something that's working fine and has plenty of life left

One option I've been proposed by a plumbing / heating co, is for them to install a gas-fired burner gun on the boiler, replacing the oil-fired boiler and keeping everything else as-is. The price for this project would be worth it to me based on the fuel savings, less maintenance / cleaning, the options / value that it adds for having gas in the house (stove, dryer, etc), and also saving on insurance from not having to insure the risk of oil spill / leak from the tank

Does anyone have experience with these conversion kits? I've heard from some that it can cause a maintenance headache and long-term issues for the boiler. The plumbing / heating co seems decent & they've done this project to an extensive number of boilers they say.

Hi BP community, I was curious if anyone local or anyone in general might know more about something I've been wondering about lately. When I look at small MFH's for sale on the market, and I've been looking for over a year now so have seen several dozen, it seems that almost all of these types of properties are late 1800's / early 1900's build. For context, I live in the Boston suburbs and am always looking in this area (Norfolk county specifically for any local people, own 1 duplex in Franklin).

It seems that all new-ish constructions are either SFH's, condos, large apartment buildings, etc? Does no one build duplexes, triplexes, etc anymore? Is this a known thing or is it just an anomaly? I guess from a developers perspective, I'd take an educated guess that if you had 2 properties right next to each other, identical in size, lot size, bedrooms bathrooms etc, but 1 a MFH & the other a SFH, it seems that the SFH would sell for more, and probably cost less (less framing, doors, windows, appliances, boilers / furnaces / water tank etc

Will try to keep it as concise & to the point as possible so here goes:

I bought this duplex over the summer & it came with Tenant A, and their lease that runs through November 2021. Tenant A has been there 5 years. Other unit was vacant, which I have since filled with Tenant B.

Unfortunately, nothing in Tenant A's lease specifies where they are allowed to park, only that they are allowed 1 spot. I didn't specify anything other than that in B's lease, as I didn't foresee this being an issue.

A emails me today saying that Tenant B parked too close to their car "on their side" - I won't include the verbatim but they clearly are very defensive and protective of "their" space. A claims that they knocked on door to talk to B and tell them to move but B wouldn't answer, so I call B as requested by A (perhaps a mistake in hindsight) to let them know what A requested. Of course, A claims that they parked where they usually park, and that they were probably in shower when B knocked (could be true). I called B to update them, who of course gave a different story. Told them that A is home now if they want to go speak to them. The car had been moved by that point so A let it go for the time being it seemed but clearly is going to be upset if it happens again.

Looking back at it in hindsight, I kind of wish I hadn't even got involved and just told both A & B that they needed to talk this over like civil adults. If it happens more I think I will have to just make lease amendments that clearly & visually show where each is allowed to park. For the time being, just because I want to put it to bed and push it off my plate, should I email both of them saying that they need to figure it out like adults & I won't get involved with petty stuff like this going forward

Hi everyone, new to the BP community. Recently acquired my first property (multi family duplex in Franklin MA) and have loved the process thus far. Looking to network with other investors & professionals in the MA/NH/RI area to hopefully learn more