All Forum Posts by: James Morin

Thank you everyone for all your help!!

@Michael King I have separate accounts for security deposits which by law I need to(not sure if every state is the same) But for Deposits to Hold you have a separate account for those as well?

Hi BP Family I hope everyone is out there safe and taking care of others the best they can! So I have potential tenants that passed all qualifications and seem to be great people. They want to move in middle of month and put a deposit down to hold. I am aware the Deposit to Hold will "transfer" into a Security Deposit but for the time being where should the money be held until they sign the lease?

Hey everyone! Have any of you successfully used this method in MA? I’ve grown up here my whole life and I’ve only know one person who has ever rented a house. Would it be a waste of time to put energy into single family? Or should I strictly look into multi-family? If this method has worked for you, where have they been located, roughly? (Western MA, east, central, Boston area?) Hope to hear back from you guys soon!

Good Morning Everyone!

I am hoping someone can help me here. I have a 3 bedroom unit I am renting by the room. I currently have two bedrooms rented by females and they would like another female in the unit. They initially had a 3rd friend but she backed out and they don’t feel comfortable living with a male. How do I go about legally renting the 3rd room to a female when males will be interesting in the room as well?? Any advice would be much appreciated. Thank you!

@Jackson Carr 

I must say I am for sure learning a lot through this whole process. I may have jumped ina little to soon but i was so eager to get my feet wet. I definitely do not regret it though. I am so excited to keep learning more and hopefully have another property by the end of this year. Thank you for your input. 

Hi everyone this is my first BP post! I just recently purchased my first property, it is a 3 family in Worcester, MA. My question is, if I am living in one of the units and renting out the others should I be cashflow positive from the other 2 units or should the rent total just have me break even after expenses thus having me essentially living for free. I hope i asked this question correctly. Also I do not plan to live here more than one year. After year one all 3 units will be rented.