All Forum Posts by: Kristopher K.

Edita,
I personally, even though I'm just starting to grow a portfolio, look for both. I think it really depends on your goals. I have a multi that I have been lucky enough to have very low turn over and when I do, it fills quickly. If its on the market for a while, I lose upto 1500 each month. It still gives great cashflow but I've had that property for around 15 years.
I have another that has very low cash flow, but the appreciation and ARV is what I'm looking for out of that one.
Kris

Ashland...so I'd stay residential with the property. I had been thinking depending on location you could do a mixed use. It seems like one of those areas where, not knowing the condition etc, it's performing about as to be expected, maybe a little under. I have seen listings for multis there (2-3 fams) for the 300-500k range. I'd be inclined to agree with Carl and access some of the equity.

Hi Ryan,
I also would be curious where in MA. Looking at those rents real quick, you're around 800-1000 per unit? So the location would determine what I'd look to do with the property. What is zoning, public transportation access? Commuter location or a central location? Springfield, Worcester, Boston? I know, lots of questions, but I think with 16 units in MA at those rents, the location could really factor in. Especially when considering what different areas of the state that would support a property like this could offer.
I agree with Carl in this could be a good partnering situation with someone familiar with it's location and the local market.
Kris

Carl Schmitt, any chance it could be something to do with the rent rolls? If a tenant or two is behind I'd see that as a big negative in that part of the state (actually, at my level, in any part of the state).

@Karen M.
In Boston there have been talks/studies of this over the Massachusetts Turnpike. http://www.boston.com/advertisers/bigdig/air.shtml
Also, I have seen projects built over other infrastructure - the InterContinental Hotel in Boston was built over/around one of the vent stacks for the "Big Dig" project.
http://www.boston.com/realestate/luxliv/articles/intercontinentalhotel.html
Seems like a different scale than what you are talking about though? Kind of interesting from a logistics point of view (building codes, permitting...) if you are talking about a smaller scale.

Hi All,
Been lurking here and reading for a while, for some reason today I feel the need to introduce myself ;>. Probably because of some of the great articles I read this AM, and want to let Josh and everyone know this resource is greatly appreciated.
I've recently closed on my first deal, renovated, and rented out one of the two units. It was a stressful 2 month blast! I'm focusing on buy and holds, have a background working in architecture and have owned a multi with my wife for over a decade. A few years back I decided to try and grow up a little and see if I can't become client, designer, builder, and for the time being manager.
So with that...off to my day job, and thanks again All!
Kris