All Forum Posts by: Greg Dowdell

Thanks @Anthony Thompson. Always appreciate your insight and advice.

Hey BP, my 2nd floor tenant ran their boiler dry and didn't let me know until I saw an instagram story of them trying to get it going again. I had a friend who is an apprentice at a plumbing & heating company take a look but he couldn't get it going again. This boiler controls heating and hot water. It is old and I may end up replacing it. The soonest someone can come out from a couple local companies that I called is next Friday Nov 11th. Am I legally required to consider this an emergency visit and get someone out after hours? It's still fairly warm out so luckily I don't have to worry about freezing pipes. I'm weighing my options but wanted to get your perspectives.

Hey BP,

This post is directed to those in the Rhode Island (RI) market. Has anyone installed meters on their water lines for each floor of their unit and then billed back the tenants for their allotted use? Did you run into any issues? What has your experience been like?

Thank you,

Greg

Happy Monday BP,

I purchased a 3 family last August in Westerly Rhode Island which I inherited 2 tenants off of. Each of the leases that I took over have been fulfilled and have moved to month to month. I would like to keep them month to month but get them on my lease. 

Is it as simple as filling out the new lease as a month long contract and the new lease rules are in place? Anything I'm not thinking of?

Thanks,

Hey BP,

Going to make an offer on a house in Westerly RI. This is a 3 family but the loan I'm going to use is the Home Possible loan with 5% down. The house is full right now and leases are all signed for the next 10 months.. This would be my first purchase and my primary home. I would have to live there. Has anyone been through the experience of taking over a property and having to remove a tenant to fulfill the duties of the requirements loan? What would be the best way to remove a tenant? Would it be my responsibility or the current owner?  

@Jimmy Murray I forgot to register. Can I still show up and pay at the door? Looks like the website won't allow me to sign up.

Hey @Jimmy Murray, thanks for posting the event. Excited to get hear from the presenters. I believe there may be a slight mistake in the invite. Your post states 11/18/2017 but the invite states 12/18/2017. Are there two events?

Hey @Rod Khleif, I enjoy it and think it has been a great starting place for me. I don't think I have enough experience to give solid feedback right now but I look forward to the shows to come!

@Anthony Thompson thanks so much for the reply. I've seen your posts from my keyword alerts and will send over a message to see if we can get together soon. I also appreciate the clarification on the commission as well as the RILiving resource. 

@Jesse Andrews I'm pretty sure the referees last night had Oregon in their brackets but Rhody had a great season. If I wanted to research getting the license where would you recommend I start? Right now I don't think I would go after it but always good to know!

@Robin Adams glad to see a lot of Rhode Islanders on here. I've seen a couple spots come up on the MLS recently for duplexes in Coventry but not sure I can get the return I'm looking for at the prices they want. But we will see if they come down soon.

Thank you all for your positive vibes and feedback!

Hey Y'all!

All time lurker first time poster.

I am brand new to real estate and have a lot of energy that I am spending on research and developing my understanding of the market place. Currently I am listening to the BP podcast and am loving it. I plan to listen to all of them as well as Rod Kleif's podcast which is the reason I found out about BP from one of his interviewees and their success here. 

I stumbled my way here from listening to Joshua Sheats Radical Personal Finance podcast which featured Rod Kleif. He depicted the area of multifamily real estate being the only segment he didn't get his butt handed to him in the in the financial crisis of 2007-2008. 

I studied Entrepreneurial Management at URI and graduated in the winter of 2014. I've been working the sales grind in Data Center IT for the last 2 years and am always looking for more ways to increase my take home. When I listen to these podcasts and read the books it seems like an absolute no brainer.

I'm looking to house hack my first investment in the Rhode Island market with a multifamily unit hoping for a 3-4 unit house. I've been thinking back and forth on the house flipping to raise the capital for the 20% downpayment or doing about 5% down but paying the PMI and the interest amount to the bank bothers me somewhat over the course of 30 years. The BRRRR strategy is another big interest of mine for a year or two down the road. I have strong roots here with friends in the carpentry and electrician business and family with some commercial real estate that should come in handy.

I recently went to the RIREIG meeting this past Thursday. The meeting itself was good but the discussion of 1031 exchanges for me right now was unrealistic since I don't even own a piece of property. Right now I am reading John Schaubs Building Wealth One House At A Time and previously read Lifetime Cashflow Through Multifamily Properties by Rod Khleif. I'll be moving to Brandon Turners Investing in Real Estate With No (and Low) Money Down next. The webinars every Wednesday on BP have been great and I plan on going Pro shortly.

If anyone wants to get together that is in the Rhode Island (RI, Providence, Pawtucket, Southern Massachusetts, Cranston, and Warwick) I'd be happy to meet up and grab coffee or lunch. I'm currently paying someone else's mortgage in the East Side of Providence. My goal is to buy and hold with doing a lot of sweat equity if I need to. I was raised in southern RI and am looking all over the state right now. Is anyone having particular luck in any area? Hoping the coming months bring some good opportunities. 

I currently am working with an agent in the area but feel like the are adding absolutely no value to the search process other than access to MLS. Can anyone in the area off valuable insight or am I better off going solo and offering an increased percentage to the sellers agent?

I look forward to your responses!