All Forum Posts by: Josh Robbins

hi @Joel Barron, I think I'm a little confused by your question as well. Is there something that is keeping you from moving in to the downstairs unit and waiting until upstairs leaves in May?  Why would the tenant being upstairs impact your close in anyway? I assume he's paying rent so it seems trying to get creative for two months would just create risk. 

Hey @Craig Desnoyers

I think house hacking is a great idea and something I wish I had thought of when I was younger and able. I've just started down my journey of buying small multi families as well and have been looking specifically in your town of Troy. I think there's a good number of opportunities to house hack in Troy but I'm sure I don't have to tell you to pay attention to the location. 

I'll second that the podcasts are great and I think a great tip is to listen to them at 1.5x speed. Takes a few minutes to get used to it but will save you a tremendous amount of time. 

If you have any question, feel free to reach out and best of luck. 

@Giovanni Stein MA is extremely tenant friendly but most importantly watch out for property taxes in NH when analyzing a buy and hold deal, they can sink it very quickly. With no income tax there they make it up on the property tax. 

sorry forgot to @ you. @Ellie Wilson

Hi Ellie,

Welcome to the forums. I've just started looking into investment properties and have been looking in Fitchburg, specifically student housing near fsu. I have a friend that has two properties there as well. I too am looking into the but and hold investments party time and as I start to invest and look for some of the same things we should talk and see if we can create some leverage through buying power. I'd also love to pick your brain on the market there in general. 

Thanks

Josh

Thanks all, the goal is to have a property that still cash flows with the 100% financing. I'm comfortable with the risk of being fully leveraged but I wanted to make sure I wasn't missing anything. The HELOC I have also allows you to fix a portion of it, in essence turning it into a home equity loan at a fixed rate for 5, 10 or 20 years. The plan would be to pay off the HELOC first with cash flow and other income (I'm full time employed) and repeat.

@Ken T. thanks for getting back to me. The street you're thinking of is Highland Ave. And I don't know if you've been to Fitchburg lately but from the looks of it, not much has changed :). But I feel your pain, 90% of the places I went to when I was in school have different names now or just don't exist. 

Hi All, Does anyone use a specific dollar amount to estimate capex, maintenance and repairs in their analysis of a deal? If so what do you use? With rents varying so much more from location to location than the cost of materials and labor, I find it hard to use a percentage of rents as an appropriate approximation. Thanks

Hi All, Curious if anyone has some pros and cons to 100% finance a small multi family purchase with a 75% LTV conventional mortgage and 25% from a HELOC on your personal primary residence? Thanks

Hey @Ken T., I was actually looking into student housing multi families at Fitchburg State. Any suggestions on what the students are looking for?  Appreciate any feedback. Thanks.