All Forum Posts by: Gina S.

@Amit Aggarwal I think it might be hard to get that kind of rent in Worcester, MA. It looks beautiful but the train tracks is right behind the property. I’m not too sure if this will provide a positive cash flow. Do you know if that townhouse is mostly rented?

My offer got accepted for a multifamily in Newton, MA. I discovered that there are open permits and a lot of work that was done without a permit. The property card says it’s a 4 bdr and 2 bath but it actually has 5 bdr, 3 full ba and 2 half bath. This area is really hard to get into. Has anyone ever dealt with non-permitted work and what was your take on it? I don’t want to walk away from this deal but would like to know what to expect and what my options are. Please advise.

We are about to close on a 2 family home in Newton, MA. We are debating on renovating the basement to add additional living space for the first unit (2 bedroom and a full bath). This will require waterproofing the basement, moving some piping, adding a doorway, moving heating and water heater. We were hoping to add about ~600 sq ft. How much do you think it will cost? Is it worth it? Should save that money and buy a second house instead?

@Tim Walls how many units? I am also looking into Arlington, MA.

Fully gutted 12 unit apartment - I don’t live close by and will not be able to babysit the project. Is this an investment I should jump into? Has anyone hired a GC to do a project that you won’t be able to be there? Does anyone know how much the following work would cost?

About the property:

It is selling at $185k and after it is fully finished, it would be worth $400-500k. It is fully gutted as in no walls, heating, plumbing or electric. It’s 8k sq ft 13 bedrooms.

I’m new to commercial financing. I am interested in this commercial property that requires some repairs but the owner wants cash / hard/ private finance. I am assuming someone tried to purchase it but finance didn’t go through because of the repairs it needed. The property is $500k and probably needs about $50k of work. What option is there to finance this?

I am from Boston and saw an opportunity to invest in a multifamily in Stafford Springs, CT. I was hoping I could get some insight into the area. Is the market there hard to rent? I noticed rent is about $850/ mo for 2 bdr. Does anyone have a PM that they used in this area and would recommend? Greatly appreciate it!

@Nathan G. I agree. If you actually contact a lawyer, they would advise you to try to come to an agreement before going to court. They can do far worse to your property... If you don’t market your property or show effort that you did in reasonable time after they gave you notice, the judge will not grant you those fees even if you have a contract. At least in Boston area, I learned it’s better to cut your loss early and move on. If they are nice then negotiate... they might agree to pay amount that you are comfortable with.

@Charlie MacPherson what niche or area would you recommend for a first time investor? I have been trying to break into the Boston market for the past 6 years and I keep on getting out-bided.