All Forum Posts by: Geovanni Heredia

@Ryan Driscoll I agree with Anthony I suggest checking the neighborhoods out at different times to see what you'd be comfortable with, but I would probably avoid most parts of these neighborhoods (Hartford, South Providence, Olneyville, Manton, Charles, & West End), if I was going to live there.  

Hey @Daniel Francoeur, I'm a local investor and not an insurance agent but I am in touch with a couple in the area that I can recommend, Lapointe Insurance or Soucy Insurance they'll help answer your questions and all that good stuff even if you don't buy from them. If you call Lapointe ask for John he's the VP they're a local company and know their stuff! 

I'm born and raised in Woonsocket now the area like the back of my hand... I own one property here and plan on purchasing another one within the next month or so. List and purchase prices have def shot up but so have the rents! 

@Anthony Thompson I've crunched the numbers and seems the HELOC is what would work best in my situation. Appreciate the insight! I'm sure you have your team in place but if you ever need a free hand or something I'd be glad to help! I'm trying to immerse myself in the real estate world as much as possible.

@Steve Bracero Thanks Steve! 

@Anthony Thompson Thanks you! I actually closed on that one a while back (2 years ago) and now i'm pondering whether to cashout refi or take out a heloc for a down payment on a rental. What would you suggest? (question is open to all) I'm new and looking for ALL the advice and insight I can get. 

Thanks! 

Thank you! Already in the process luckily I've got family members that work in the space so floors in the whole house are already done just had to pay for materials and get my hands dirty! @joshua

Investment Info:

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

Purchase price: $202,500
Cash invested: $7,000

Two family (Duplex)

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

Cash flow has always intrigued me and buying and holding small multi families can bring just that.

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

MLS - first day on market made offer at listing price

How did you finance this deal?

FHA and Rhode Island Down payment assistance program

Thanks for the info ! 

Ok perfect thanks !!!