All Forum Posts by: Kenneth Yuen

I just bought my first owner occupied duplex in MA. I'm considering replacing 2 of the dated forced air oil furnace with a gas furnace. I would like your input on whether I should update it to a gas forced air or forced air with central AC. Central air will be an added expense. I'm not sure if it will be a benefit for a rental property. Ducts will probably need replacing as well. If anyone has gone through this process, I would love your input. What is the average cost for such an install and is Mass Save a good resource to look into? Any benefits to switching to gas for a rental property? Any cost saving tips? Thanks!

@Whitney Hutten thank you. I will do some digging and pm you with any questions. Much appreciated.

@Whitney Hutten I’ve looked in to wholesaling and other unconventional methods of getting a good deal on a home. Most or all of them require a cash sale. I then looked into hard money loan. For my case scenario, would it be better to apply for a hard money loan, purchase the property, remodel, and then refinance for a conventional loan? Are there any study material that you would recommend for this type of transaction? Thanks in advance!

@Jim Sestito thanks for the advice. First thing is first. I will need to get a loan then find myself a seasoned realtor. Does 4.9% interest rate on a 30 year fixed rate sound high to you?

I would prefer to buy a triplex with tenants so I don’t miss a day of rent. I will remodel as they move out. You are right! Action is key. This will be my first investment purchase so it’s a little unnerving partially because I feel like I have a lot more to learn.

@Whitney Hutten Your words of wisdom have a profound ability to create a success story. Otherwise, I would be shooting in the dark. Thank you for your generosity and your willingness to help.

Sincerely,

Kenny

@Whitney Hutten Thank you for your time and effort. I just started looking. To be honest, I haven’t done any of the strategies that you’ve mentioned. Connecting with a wholesaler is a great idea. Those are all great advices. I will put that to good use. Thank you!

@Michael Parks Hey Mike, thanks for reaching out. It seems like the seller's market is hot in Attleboro. That's what I had figured too. The house would probably be worth $350,000 after a remodel. Not much wiggle room there. I would probably have to get one under stress, on foreclosure, sale by owner, or in an auction to have a good ROI/cash flow. Fitchburg looked promising but its too far for me.

Hi BP members,

I'm new to real estate and BP. I'm looking to invest in a triplex for an owner occupied BRRRR. I've searched Eastern MA for an affordable location and a city/town that is closest to Canton, MA. The neighboring towns are too pricy while the affordable ones are too far. So, I landed on Attleboro, MA.

My preferences are:

- to BUY the house as an owner occupied, REMODEL, RENT, REFINANCE, and REPEAT (BRRRR)

- Triplex, preferably with good exterior, good appliances and B to C grade interior for remodeling.

- About 3000 sq ft

- Around $250000 to $300000

- Off street parking

Is this obtainable? Is this a sound investment? If anyone from around the area can chime in, that would be very helpful and appreciated.

Thanks you,

- Kenny Yuen