All Forum Posts by: Flavio Zanetti

There are some 3 families in the mid 300's that require minimum work - the challenge for me is to find one in decent shape without major repairs overdue and in a decent location. The search continues... 

Trying to attach again...

It varies dramatically per city, per market and per state...

The curve attached shows where cities are in the cycle - very useful!!! It came from a Real Estate Management Graduate class from Harvard last year that I took.

Enjoy!

Flavio

@Chris Rosenberg you may wanna check with NY state as there are various rebates available for that conversion... 

I just found this today from Con Edison and it expires TOMORROW:

http://www.coned.com/gasconversions/homes.asp

Good luck with your project man,

Flavio

Correct @Chris Rosenberg

I like utilities (both cooking gas and heating gas, as well as electricity) to be paid by my tenants as often as possible... 

There is just something about people not being "responsible" whenever things are included in the price!

@Alberto De jesus, 

Hola Alberto! Where are you investing in MA? I am in the buy and hold strategy including Lynn - your hometown from profile...

@Chris Rosenberg, 

You are spot on: you do want separate utilities meters for both gas and electric. I am not sure how NY does but in Massachusetts, you can only request meters (gas and electric) if the house if an official multifamily, i.e. if you are renting your basement but that's not a legal apartment, you will not be able to separate the utilities.

Water meters, on the other hand, are usually common for the entire property and you, as the landlord, are in the hook for it.

Hope this helps...

Flavio

@Jennifer Wang - as others have alluded to, there are many many reasons for people to sell their investment homes despite being lucrative and positive cash flow.

Now the piece of information that concerns me is the asbestos - it is a very expensive and time consuming problem to tackle and not every contractor out there is equipped neither willing to deal with it. Those that are would charge between $200-400 an hour to remove it. You can get the picture: if the house has asbestos everywhere, it might cost you a lot of $ to remove it.

Questions for you:

• Why this house? 
• Market comps? 
• Is this one much cheaper than others for sale in the same neighborhood? 
• If you don't get this one, will you be able to purchase another one in similar/better conditions?

Good luck with your project/purchase!

 I do feel your pain Joshua D.

 Totally agree!!!