All Forum Posts by: Kristopher K.

Hello @Jimmy Dumas (I'm not registered but I put architect in my description here because I haven't figured out how to put in "designer"). Anyway, I have for a long time said when I grow up I want to be a client, and designer, and builder. That's what I am working towards.

I have actually seen a few firms up here that do similar, one even has their own financing dept. None though are doing singles, all commercial or multis. Only from what I've seen which is limited.

Seems exciting! Keep us posted!

thanks @Karen Margrave , I use the notify option when I post on a thread too. I'll look for the other post you mentioned.

Also, as @Colleen F. said, location is key. I look for walkable areas, and prefer smaller units to discourage the party house. Mine are short walk to beaches, restaurants, pizza shop, ice cream, mini golf, and bars.

Just two streets away are good houses but not properties I'd invest in, even more further away but at that point you're driving to the beach.

If the rental doesn't work for me, at least I did as @Will Barnard mentioned. I bought very low, but lots of rehab.

@Karen Margrave , I have one multi and a vaca rental that has yet to start, mainly because I'm doing my own work. Now, it is a 2 unit so the year round unit does take care of almost all the costs. When the seasonal gets going, as @David Krulac mentioned, we have about 10 to 12 weeks. We are seeing more activity on the shoulder seasons when people...baby boomers...will rent and that is extending the season a bit and starting it earlier if you have heat. So the 12 weeks turn into another 4 or so on each end. Potential for 8 weeks at off season rates. My multi and year rounder has the potential for 12 checks while the seasonal has potential for more, with shorter term tenants, although more cost to me as far as utilities. Yes, I will stay there if I can.

I just looked at 2 more properties but one has the added season of skiing...more potential.

I love this thread...I'll be keeping an eye on it as I am really just "experimenting". Still looking at multis, but the vaca unit has me interested, especially if I can rent them monthly off season.

Hi @Deborah Burian

Take a look on a website called buildingscience dot com

I'll try to link to an article...no affiliation, just a good reference site:

http://www.buildingscience.com/documents/digests/bsd-106-understanding-vapor-barriers

I'd say if that wall doesn't have it, none of them do. Just curious, what is the siding?

hey @Duncan Banks

@Shaun Reilly has been pretty inspiring on this thread! I don't know Whitman at all but what I see is a place that you, with your architectural and landscaping experience, could get some good curb appeal going on there pretty quickly. Two things I would look into as you go check this place out: roof and septic.

Good point by both Shaun and @Liam Goble regarding heat. I go against most of the grain on this point. I hate having to deal with furnaces gas or oil. I like electric that can be metered and let the tenants decide how much they want to spend. There are different types of electric baseboard too; and there are programs to help like Mass save.

...so did you go check it out yet?? ;)

Welcome to BP @Account Closed .

I'd think a lot would depend on number of units, asking price, actual numbers if these are not documented, and probably more that others will comment on.

Check around BP for things like the 50% rule, do a search for similar questions, and take a look here:

http://www.biggerpockets.com/renewsblog/2010/06/30/introduction-to-real-estate-analysis-investing/

Great suggestion @Bill Gulley , I will look into that. Thanks again.

Thank you @Bill Gulley . You actually came pretty close, restaurant with apartment upstairs but that is only one building on the property. The rest of the property is seasonal rentals. Good list of things to look at too, I'll need to take a close look at those.

I planned on seeing if the commercial part can be turned back to residential.It is more of a breakfast/lunch type of place and I'm not sold that the location actually supports the use, on the other hand it could be a great match if the right people are running it. It's a recreational area so I think the need is there in the area, just not sure this property is the place for it.

Thanks again for the 2 cents!

Perfect! Thanks @Brandon Turner . Good timing too, I just came across a similar property in a different location. Now I'll use this to check them both.

Hi All,

So I'm contemplating taking a look at a property that fits most of my criteria and am trying to work through an analysis. The property has a mix of seasonal residential, year round residential, and a commercial space. I have an idea of rates and the variations based on the occupancy and times of year (seasonals are rented for a certain rate for the main season, then reduced rates for shoulder seasons)

My questions are based on the metrics experienced investors would use to 'translate' this into an analysis...as in what metrics would you use? I'm looking at this as a more "passive" investment because of distance so management, marketing, and the weekly turnover are all things I'll take into account. Do I basically just break the numbers down to figure cashflow per door similar to a typical multi unit?

It's kind of apples to oranges to me at this point. I know what I'd look for on a typical multi, or a typical seasonal, or even one year rounder and one seasonal ( my current project) but the scale of this one has made me a little more conservative (8 units plus the commercial)

Any thoughts, suggestions, or heckling?

Thanks BP!