All Forum Posts by: George Sprague

I'm looking for a handy man in Portland. I've found a pile of them online but they seem to be contractors rather than true handyman. Any leads would be appreciated. 

Shotgun shells. The fact that the ends have clearly not been crimped proves they have never been fired. The vials are an unknown.

Sounds like a potential live in flip/house hack. Could you add value to the house as a SFH? Buy it with a low owner occupied interest rate and rent a few rooms while you do some improvements. Keep the pool because while doesn't want a pool. Check in with an insurance agent to see about liability. A good fence may be all you need. Eventually sell it without paying capital gains and get into that multi family and repeat.

It’s all in the numbers. What was the cost to stage vs the lost rent? 

@Mike Roy Hello Mike, Could you give a recommendation for PM in Bath? Sea Glass and Rentex seem like the go-to people Although I don't know anyone that has any experience with either. Thanks!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $185,000
Cash invested: $50,659

Two unit, three bedrooms each, great neighborhood on dead end street. This was my first 1031 exchange. Exchanged a single family house.

What made you interested in investing in this type of deal?

I had a SFH that I wanted to trade into multifamily. I was able to complete my first 1031 exchange with this property. The downfall was in the short amount of time available with the 1031 rules. Had to take what was available within that time frame.

How did you find this deal and how did you negotiate it?

MLS

How did you finance this deal?

Conventional financing

Lessons learned? Challenges?

Follow the due diligence procedures even when it seems you can skip a step. Nothing has come back to haunt me but simple communications in tenant rents and security deposits should have been clarified during due diligence.