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All Forum Posts by: Justin Feldstein

Justin Feldstein has started 4 posts and replied 8 times.

Does anyone have any experience with lots and homes in close proximity to a Manufactured Home Development? I'm eyeing a lot for a SFH build, vacation and short-term rental. The greater geographic area has high demand, and the target property is not within sightline of neighbors once you are there, but you basically drive thru it on the way to the property (shared road). In this part of the country, Manufactured Home Parks are very common and some would even say part of the charm. I personally couldn't care less (hence my interest), but it would helpful as I prepare to write an offer for the land, and in the event I refinance or flip it, what the market would say about it not being located in a traditional site-built neighborhood. I've read two studies that seem to say maybe, yes, values are depressed, but both studies were from before 2000. If I account for say a 15% discount on resale, is this a fair buffer?

Post: Spreadsheet for tracking syndications

Justin FeldsteinPosted
  • Worcester, MA
  • Posts 9
  • Votes 2

Does anyone have a spreadsheet or examples of KPIs that one would want to keep track of over several syndications or debt deals? I see lots for tracking flips and buy and holds, but less for longer terms tracking. Thanks in advance!

Post: Investor Friendly Agent in Worcester, MA

Justin FeldsteinPosted
  • Worcester, MA
  • Posts 9
  • Votes 2

@Michael C. Trippi not so hot for what I'm looking for so I've transitioned out of state for now. Worcester is low Inventory and poor cash flow. If you are looking to rehab, I think there are still deals out there. How about you? How's the duplex hack going?

Post: "Hybrid" Turn-key Operators

Justin FeldsteinPosted
  • Worcester, MA
  • Posts 9
  • Votes 2

I've decided to invest in the Kansas City Market. I am attracted to the concept of a hybrid turn-key provider or an operator that would source a wholesale deal, rehab it, and maybe even manage it on my behalf. The idea being I am more involved than a strict turn-key and am able to reap some equity from the start. Assuming it's out there, does anyone have a recommendation?

We all (should) budget for CapEx/Maint. and because we are savvy, we've talked to other landlords and found out what they are spending on repairs and maintenance, so not worried about clogged toilets, broken fixtures, etc. These problems will come up, which should be able to be covered by cash reserves once the maintenance fund grows (or are minor and you just take care of it out-of-pocket until then)- but what about a major unexpected expense either so large it wipes out reserves or soon enough after taking possession that there's little cash flow to cover it and you have to reach deep into your own pocket. On a 3-4 family unit a water heater, unseen damage from a home inspection, or other major infastructure failure could wipe out 1+ years of profit, aside from having to pay the repairs in cash at time of payment. What else could go wrong along these lines? Market shifts? Municipal planning changes?

Should we be increasing our cash reserves on the first property or two in our portfolios as padding until we have enough units that we can spread out the risk? How should I plan for a doomsday scenario, no matter how unlikely? I do know and am comfortable with the fact there will ALWAYS be some risk in REI, but I think risk management and managing the downside is a valuable skill to learn. I’d be interested how other view this and what steps they take to manage risk. Anecdotes also welcome. Thanks for taking the time to hear me out!

Post: Worcester Market

Justin FeldsteinPosted
  • Worcester, MA
  • Posts 9
  • Votes 2

Hi @Ian Kidd . Yup I totally agree on areas. The young professional is a great target demo in Worcester. I sent you a request to connect, it would be great to chat more.

Post: Worcester Market

Justin FeldsteinPosted
  • Worcester, MA
  • Posts 9
  • Votes 2

Hi @Steve Bracero and @Andrew Beaver

I'm in about the same spot you two were 8 months ago. Starting my search for 3/4 unit in Worcester. How did your searches go? Any luck with deals?  Any Worcester-specific metrics I should be looking for in my analysis?

Post: Investor Friendly Agent in Worcester, MA

Justin FeldsteinPosted
  • Worcester, MA
  • Posts 9
  • Votes 2

Hi Mike, 

I am newbie REI considering a 3/4 family in Worcester and will need an agent to find listings and toss some ideas around with. Please reach out if your offer is still on the table. -Justin