All Forum Posts by: John Joyce

My name is John Joyce and I am looking for my first small multifamily deal. I’ve been studying multifamily analysis and proper management a lot recently, and I’m here on BP to learn more and make some connections. My real estate goal is to use rental income to supplement my job. So far everyone I've met on here has been very helpful and knowledgable. 

Thanks again, saved my day.

That's exactly what I was looking for! Thank you @kyle J.  Is there a path to this File Place, or do I need to keep using your link?

Is the a resources or files tab somewhere? I know the hosts have old webinars, worksheets, checklists, and other helpful files saved under their profiles. But I can't tab/dropdown/secret button for it. Is it intentionally difficult to access to limit sharing? Or am I just doing something wrong?

I like your idea as a unique vacation spot. There are plenty of these set ups around the country, try searching "glamping tiny homes". Glamping is very popular with Boston people heading north for a getaway.

When looking at the land, I would prioritize getting a great view first, then a close second would be close to attractions(food, skiing, lakes etc...)

I am working on getting some land and was planning a cabin in the future. But I also know of a tiny home that I may be able to get a deal on. Now you have me rethinking my plan. I don't think you'll have too much difficulty getting approval, especially if you're buying a decent size piece of land. 

Not sure if you're still looking in this area, but it hasn't changed. Still tons of drugs and related crime (stabbings, robberies etc...) and no expectations of it improving. The city puts on a show once in a while (when a politician complains) and pushes the herd of junkies a few blocks away. But they always come back. There's a shelter, methandone clinic, 24 hour gas stations and McDonanld's, foot traffic and vehicle traffic 24/7, BMC hospital, Fuller mental health building. This is a recipe for a bad neighborhood.

Maybe you'll get renters, but you better make sure they understand the area if they're moving here for school/work. Boston rent is always good, but prices are a little insane lately. Someone mentioned 2-3 cap rates, which sounds about right from what I've seen.

I work this area a couple nights a week, evening and overnight. The police can't effectively enforce any drug laws because the county District Attorney doesn't want to prosecute anyone. If you're in the area checking out properties, just keep in mind that almost every junkie carries a knife and every drug dealer carries a gun.

I'm hopeful that you find a deal and it cashflows for you. Really not trying to talk you out of it, or ruin your day. But I feel the need to give you a heads up to keep you safe.

Don't have a great answer for you, but I know in the past to qualify for housing lottery "low income" was determined by 70% of median household income for the area.