All Forum Posts by: Chelsie Ritarossi

@Sean Thompson  appreciate the advise.  These will be some great steps to take to quickly get up to speed.

Hello BP World,

My partner and I have a good amount of experience in both long-term rentals and some flipping projects. We recently bought a vacation home that will also double as a STR during the months were mountain bike season is big. We live in the Northeast and the market, as it has everywhere, has drastically gone up over the past 12 months.

We are currently on the hunt for our next investment property, most likely LTR (however, we are open to mixed use, or profitable STR). We have a decent amount of capital and a few HELOCs available to be aggressive on offers however, we keep getting beat out by all-cash offers where we are just out of reach.

With that being said, we discussed exploring the option of hard money or private lending as all of our other properties we have used our own capital and conventional loans.  We are not opposed to keep doing that (until we can't) however, we are at the point where we believe having hard money or private lending available where we can offer cash (combined with our own) will give us more flexibility when we make offers.

Now the question... where do we start?!  

Looking for guidance,

Chelsie

Interested in hearing what people think of this part of Vermont. I personally am in the market for a property in the Northeast Kingdom area (St. Johnsbury, Burke, Lyndon) we ski there in the winter and would a duel Vacation property for us and STR for when we aren't.

HI Kyle,

I know a bit late to the thread but wanted to share some insight.  My fiancée (he is also on BP!) and I own two rental properties in West Warwick and have had very good luck with them thus far.  Even though it isn't Warwick or other areas it still can be profitable.  We just in the last week, put one of our units up for rent and within 4 days have accepted a tenant.  You will not have trouble renting so long as your units are clean and you do proper screening.  

Reach out if you need any other insights or advice, happy to share what we've learned over the past two years (2 Units totaling 4 doors and 1 Flip since 2018). 

Hi All!

I wanted to update you on the progress. I officially closed on Tuesday on a duplex and now am in the process of getting the property to rent. @Christian Allen mentioned using Cozy.co for rental management from a rent payment perspective. But I am looking for some advise on how to list the unit, what I should list and managing this new process. 

Very exciting time but the time of the year worries me as far as getting tenants in. Ideally, I would love to get tenants in by January 15th. Does anyone have advise or can give me an idea of how long it has taken you all to ramp up a property and get tenants in?

Any and all advise is welcome!

@Christian Allen Thank you!! I will check out Cozy.co right now.

Hello All!

I wanted to update you and see if you had any advice for me in my next steps. I had an offer accepted on a duplex this past weekend and now I have already scheduled an inspection and am working to close by the end of the month. 

The house will not have any tenants if the sale goes through. What is the best advice for screening tenants, applications and leases agreements. 

I look forward to "marketing" the units, as I work in marketing for a living, but I have never marketed an apartment before.

Any and all advice is welcome!!

@Brandon Ingegneri I appreciate the support!

Since this post, I have been talking to multiple sources of financing and have viewed a handful of multi-families in the areas stated above. I am doing my due diligence to make sure that I am analyzing every property based off of my education thus far, I am getting closer to finding the property that the numbers work for. 

I WILL get a property before the end of the year. 

@George Blower Thanks for the welcome, George!

@Christina J. Thank you for posting! So glad to hear marketing folks make great real estate investors :) I plan to keep everyone posted on our progress!