All Forum Posts by: Jeff Bousquet

does anyone have experience with coin laundrys? How do they compare to rental income? 

Any insight would be great. 

I bought my first C class 4-unit in October. I was hesitant due to the conditions and the existing tenets. I bought it for 105k. The existing tenets left. I did light updates. Paint, flooring, new few new appliances. 3 of the four units are rented. The last has a bunch of showings. Gross rents are $2775. There is more tenets management involved, and thinks do break. Overall I've had a good experience thus far. 

On the other side. I knew a guy with a C class 6-unit and was in housing court every other week.

Experience may vary. 

How is the morgage process for apartments over 6 units?

I understand a commercial loan is required. Is down payment a standard 25%? What are the reserves requirements? Anything else required? 

I recently bought a 4 unit. One of the tenets gave notice to the former owner before the closing and has been missing since. He left a bunch  of stuff in the apartment (bed, couch, close, computer), the door unlocked, and the keys on the counter. Do I have to store his stuff or can I throw it out? I haven't been able to get a hold of him. 

I just bought a 4 family, and two units have 1960's gas stove/oven combos. Is is cheaper to replace with a existing gas stove or convert to electric? Anyone have experience with this?

has anyone installed electric base heaters? Cost to do so? 

Has anyone purchased from Lumber Liquidators?

I need a few options for bedroom/living room flooring in a C class property . Rents average 625-750. Has anyone used this luxury floor panels? The peel and stick kind. Any good? Or would the click flooring be better? 

anyone have experience in the Putnam, central Village, and Killingly area? I occasionally see nice two family's for reasonable prices. 

I have a nice B property south of Worcester that has worked real well for me. This would be my first experience with a lower income area/C class property . I was hoping to get close the the college area, and focus on student rentals. 

I see a lot of 2/3 family's in Springfield MA for good prices. Does anyone have experience in this area?