All Forum Posts by: Johanna Silva

Not an option. Apparently they had someone drive by. They already know and they're canceling our policy as of 2/12.

We recently closed on a 3-family home. So far so good, except that there is asbestos on the exterior of the house. It sounds like many insurance providers will not ensure a property with asbestos. Any suggestions? What providers are ok with asbestos? Should I think about vinyl siding?

Thanks for any suggestions.

My husband and I just closed on our first multi-family a few weeks ago.

We are in MA. I'd like to do credit and background checks. What platform do you use? I understand that I can't ask potential tenants to pay for credit and background checks.

Thanks for any tips.

We won't be living in the property. We will have three tenants. When do we disclose to potential tenants that there may be lead in the house?

We're closing on our first property in December. We are in MA. The house was built in 1900. The windows have been replaced.

Do we do the lead paint test? And, if so, if it's a yes, what are our options?

Thanks for any feedback. :)

The current tenants are on month to month leases.

If I buy this property and keep these tenants, cashflow is -$334. Doesn't feel like a wise way to get started.

Quick intro:

I have been reading on the blog for a few months. Just became a Pro member last week. We (my husband and I) are looking to buy our first rental property. 2-4 family.

The numbers:

3-family home

2 1-bedrooms

1 2-bedrooms

Current rents:

$750, $750 and $600 (the 2-BR because tenant is seller's sister)

Rentometer tells me the 1BR's can be rented for around $900 and the 2BR for $1,200.

With the Rentometer numbers, according to the BP calculator, cashflow would be $443/month.

One of our contingencies is that the tenants move out before closing. My logic is that I need to raise the rents for the numbers to work and I am guessing the tenants won't like this, especially the sister whose rent I would double.

What do you think? I believe the tenants not leaving before closing is a dealbreaker for me. Am I missing something? We are in MA.