All Forum Posts by: Edward Dones

@Eric Munson thank you for the info definitely will. E taking a lot of this in consideration and I'm hoping to get something that is a easy fix since I have experience in construction fixing up flip house for others and working with family members over the years on in-home projects 

@Account Closed thank you will be looking into this as well and if I can find a good triplex will definitely go for it thanks for the info

@Eric Munson thank you I will be buying in the Springfield MA area and now I actually feel more confident on buying the house plus I will be house hacking so it for a two family I won't have a cash flow but will be actually paying under 400 for expenses (utilities and rest of mortgage) Hoping 

To find a good triplex and how do you feel about renting rooms to college kids. I have 3 colleges around the area I'm buying and I know I can make 450-500 per room a months, I do this now with my parents second floor (3rms 450 each =1350) and it works for them and they get a cash flow as well

hello everyone my question is, how does the 1% rule work on multi family properties. I live in western Massachusetts and I'm buying my first multi property and will be house hacking at the same time.

Rent for a 2-3 bedroom 1bath can go from 800-900 which is incredibly less than the 1% rule for a purchase price of 150k so is it the 1% rule for multi property house for the total of the property or for each unit. All help is appreciated and will be hopefully closing on a 2-3 family house within the next two months hopefully 

my name is Edward I'm 26 and been reading and doing everything to keep my knowledgeable in real estate for 8 years and finally decided to dip my feet in. I will be buying my first multi family property within 2 months and kinda scared since in western Massachusetts real estate it's all over the place. Houses go from 20k to 250k  and I don't want to bite more than I can chew so hoping to get good advice for my are through BP and making my first and future properties run as smoothly it can be