All Forum Posts by: Dante G.

Evaluating rental properties in Fitchburg, MA area and would like to connect with someone who would be willing to share insight into his market beyond what I am seeing online. 

Thank you.

Why wont BP allow me to unsubscribe from alerts? I have tried several times unchecking and even hitting yhe delete button but yet they still persist. Enough already.

@Clifford Paul @Amanda Kessler Appreciate your feedback but I am looking at conversations and for whatever reason, maybe those mentioned here they are getting tons of feedback while mine languish. My partner and I are eager to connect and build our network which is why I have spent time here but am going to abandon this venue since there is just no reciprocation and many other discussion/networking platforms to choose from. Again thanks for the feedback and happy investing!

I have been a member of the community for going on a week now. I have contributed to discussions, I have connected with members but when I seek input that is paramount to my RE investment plans I am greeted with silence. The marketing PR for bigger pockets make it sound as if this is an investor friendly environment whether a seasoned investor or new to the business and I was wondering “what am I missing?”. Thank you in advance for your thoughtful feedback.

Great advice here. I posted a question regarding pulling equity from currently owned properties for new purchases a few days ago and no feedback..wondering why??? Since I am also new to the community maybe someone can fill me in on what topics are of interest or within the knowledge set of the community so I can direct inquiries to the right resources. Im wondering if its the title as I reread it I think I could have been clearer but there seems to be no obvious way to correct, retract or update posts that I have been able to find. Thank you.

Yes that now makes more sense...Thank you.

You lost me on the vehicles being covered, this would not be the liability insurance required by state DMV which would cover injury, death or property damage if in accident? If so I would be suspicious since such policy coverage is based on driving record, credit rating, age, etc. I have had vehicle ins policies under a company and since they are subject to 24 hour operation with drivers who are not screened by the insurance company such coverage is always costly. So if you can get the legal automobile coverage required to operate on public roads for $259 per year I would be very interested in knowing where to sign up.

Seeking referrals for the following professional services who are located in or licensed/experienced in the MA/NH/RI region. Looking for initial free consultations to run down objectives and get feedback and to assess if relationship would be beneficial. Looked at the resources here but only a limited number available, want more of a selection from which to choose and who have been referred based on positive experience. Should be experienced/focused on residential and commercial rentals for long term hold, entity formation and market awareness.

RE Attorney, CPA and Realtor or Broker

Thank you.

I am a big DIY guy, however for those jobs that are too big or just not interesting enough I sub contract my own jobs and hire the skills I need for the task at hand. I always provide materials with the exception of the small stuff, nuts, screws, etc, and pay the hired help an agreed upon hourly rate. I never place a deposit and immediately reject any arguments on the subject. Since I pay people daily for completed work I see no logic in making any upfront payments and any misc materials that are purchased I reimburse provided they have a paid receipt. Its unfortunate but you cant trust most contractors and have found that the ones who are reputable/trustworthy have no issue operating under these terms. For those who suggest that this approach garners one the PITA price structure I say you are wrong. First if you know what the market rates are for the labor you need and you manage the project like a project with deadlines and expectations you cant really be fleeced. Also who wouldnt want to work for an hourly wage, under the direction of someone else without the hassle of buying and transporting materials or the responsibility of permits, inspections and the like. I have had people work for me for years under this concept and with some very few minor disagreements it has worked out very well, the money saved allowed us to do 3x the work than if we had gone the traditional route. In the end it comes down to being able to detect the BS and find the right people once you do that you are in pretty good shape.

As a former electrician I can understand your predicament. First knob and tube KnT as long as not modified or compromised is not a code violation and should not pose any issues with getting CoA’s, it will however likely result in higher insurance rates if the inspector decides to dig in the attic or behind insulation in the basement or junction boxes in the ceiling. Also since power consumption rates have increased over the last several decades this installation type may not be up to handling the increased load reqmts. Since KnT hasnt been used since the late 30’s early 40’s you can be assured the cotton and rubber coverings are as brittle and dry as a cracker and more like kindling than wiring. Quick tid bit: based on the NEC ntl electrical code NFPA 70 KnT was allowed at the time I was practicing but rarely if ever used residentially due to cost and installation overhead, you see it everyday however in the design of power transfer lines that criss cross the country. With that said you need to evaluate safety, performance, cost and future needs before diving in. Not knowing specifics or geographic location or power needs for this home and using basic code requirements a total rewire for a 2700 sf home with new hardware and trim excluding a new service would run somewhere in the neighborhood of $25,000, this does not include the repair to exterior surfaces that would be required to “chase” wires across beams and studs. In usual KnT installations the house was built with a balloon frame which means that the interior walls were open from the ground floor to attic allowing a straight run for wiring and pipes but this also allowed for fires to spread quickly and were outlawed per building codes. If the walls have “cats” or fire stops the time and labor will be increased add onto that the difficulty associated with running wires through insulation and the hassle of plaster and wood lath walls which were also the key building materials at the time of KnT your costs may increase. You can do some simple math to gauge potential costs, if you know what master electricians charge per hour in your area and add to that the hourly rate for 1 journeyman and 1 apprentice and multiply that by 80 hours you will have a rough idea as to labor costs. I estimate 2 weeks not knowing the structure but roughing and finishing new construction which is about 10 days I added a few days to account for the roadblocks that will inevitably be encountered. You can estimate material costs to be 30% of labor total however with copper wiring having skyrocketed the past 5+ years and new code requirements pushing costs higher this may be on the light side. I guess what I am trying to say is that this will not be a small undertaking, it will not be cheap and if it were me, a guy who could do the work at cost, I would consider using the cash to buy an updated property and put extra cash towards the things that increase curb appeal and rentability and leave the rewiring to someone with a passion for self inflected pain. Good luck on whatever you decide.