All Forum Posts by: Jared K.

@Corby Goade This. I bought a decent 3-family deal on MLS not even off market, profited 200 a month, and 4 years later it profits 2300 per month. Does take money to keep up with it though the but can pull that money out of the growing equity.

@Patrik Kisucky Keep you posted

@Robert Loiselle got it thank you. Is the tax credit have income requirements? I do live in the building FYI, but not the unit I’m deleading.

@Patrik Kisucky - Thanks for the response, I have also considered new wood with the medium risk cert (required for replacing things), so definitely an option. I have. High risk licensed deleader coming by tomorrow to look at things.

@Robert Loiselle got it thanks for the tips!

 Hi Robert, saw your knowledgeable posts on this, thought I would hop in on a question.  I have someone who works for a licensed deleader and seems to think he can take care of the sills and the jambs by removing paint and cleaning up, as a side job.  I'm taking care of the low risk items with a certificate, just need someone who knows what they are doing for that. Thoughts?  does the inspector need to talk to the deleader during reinspection?

 How did everything go Patrik?  Just got inspected for 3rd floor unit - I've got several items to take care of but looks like I can get my low risk and do a good amount, then was going to get a licensed deleader to do some paint removal around jambs and sills.  How much all and all did you spend?  I'm in Chelsea

@Eddie Fleckenstein how is your venture going? I did the same in Chelsea on Cary Ave, 3-fam. Got low interest rate so finally as of today at a point where the 2 rentals pay for me to stay for free. Got it on MLS with FHA loan, been here for 3 years, fabulous investment so far and looking to do it again, once I have enough capital.

@Dave Skow keep in mind that with an FHA loan anything 3 or 4 family also needs to qualify on a rent ratio that is hard to meet, 2 family you won't need to meet those qualifications of a projected rent income ratio to get an FHA. Ask broker about that, I ran into it unexpectedly but had a friendly appraiser help to resolve for my first and only 3-fam, used FHA. Can still get the 3 or 4 fam but would need to put more down than the advertised 3.5 percent of the rent ratio doesn't work out.

 Got you OK thanks for the feedback!