All Forum Posts by: Flavio Zanetti

@Jack Thanadabouth your rental in WI will have its own Schedule E in your tax returns and all gains or losses will either augment or reduce your tax liability. I believe you will also have to file WI state tax returns.

I am not a CPA neither a lawyer so take my advice with a grain of salt but this is how we (my CPA and I) do our yearly tax returns :-)

Are you happy with your Green Bay purchase? Was it a turn-key? Got good PM?

0 Votes

@Rory Calnan, hope your purchase/investment in Manchester has been productive. Care to share more details, e.g. location within the city, NOI, etc?

Agree with you on the cash flow opportunity but still haven't been able to move my deals that far north yet...

Thanks,

Flavio

0 Votes

@Charlie MacPherson

Not a lot of comps in Chelmsford for a 4-family. Comps the realtor and I looked were all 10+ years old and much less expensive than this one.

I see 21k or about 5% over asking is already a lot of $

0 Votes

Title says it all: where is our Boston north / suburbs market going?

We just placed an offer (21k above asking price of 449K) on a 4 family in very good condition (3 of the 4 units) in North Chelmsford and our offer was not the highest one.

Really tough to find properties that cash flow in this state!

Just venting and wondering what other fellow investors BP members are doing in the area to overcome that?!?

1 Vote

Originally posted by @Leslianne Costello:

Hi @Stephen Covel. I have a cash-flowing property in Taunton, MA. My husband and I actually bought it back in 2013 before we found BiggerPockets or really anything about Real Estate Investing, so while we analyzed several properties and did choose well at the time, I think our next purchase we should be able to do much better. But if you are interested, here's how that one is going:

It's a 3-family house, 4db, 5bd, 4bd (one unit per story).

We bought it for $270,000 in 2013. Got a fixed 15-year, paying about $2600 a month

We get $1300, 1500, $1300. =$4100 per month. That makes it cashflow about $1500 a month, minus expenses, which so far haven't been overwhelming.

I've been watching the MLS for the last 12 months and haven't seen another property I was ready to jump at yet. I'm actually about to launch a Direct Mail marketing campaign in the area, both to find a great next deal and to wholesale (to raise money for that next down payment.) I'd be happy to let you know if I find something worthwhile. Are you looking for multifamily or single family at the moment?

Leslianne, what are of Taunton is your property located? You are absolutely correct to say that it is not easy to find good quality multi's in the area any longer...

0 Votes

I invest in Haverhill and Methuen. Looked at Lowell and Lawrence but the right opportunities have not come up (at least for me) on those places as of yet. Happy to connect and help if i could.

@Allyssa Guerin I am interested as well if you could please keep me in the loop.

0 Votes

Boston, Massachusetts

Shivani Shah
Hurley Shah LLP
2 Haven Street, Suite 204, Reading, MA 01867
http://www.hurleyshah.com

Feel free to let her know I recommended you! I used her services on my last 4 purchases - very reliable, knowledgeable and trustworthy!

Good luck with your deals...

0 Votes

I have been very satisfied with Shivani Shah. She's in Reading but does work across the state.

Shivani Shah
Hurley Shah LLP
Location: 2 Haven Street, Suite 204, Reading, MA 01867
sshah at hurleyshah.com
http://www.hurleyshah.com

Feel free to let her know I recommended you.

Best of luck!

Flavio

0 Votes

Great thread folks...

0 Votes

All Forum Posts by: Flavio Zanetti

Flavio Zanetti has started 13 posts and replied 263 times.

Post: Biggest rental property you own?

Post: Out of State Rental Tax Q's

Post: Manchester, NH multifamily market

Post: Where is our market going?

Post: Where is our market going?

Post: Buy and Hold Investor - Looking for a cash flow positive property

Post: Looking to speak with nvestors in Lowell/Methuen/Haverhill

Post: Massachusetts RE Lawyer Recommendations?

Post: Massachusetts Attorney

Post: Massachusetts (Worcester