All Forum Posts by: Leah M.

My question is whether you believe rents in boston are sustainable for the long term.  Current rents are dependent on millenials being willing to live together sometimes 3 to 4 roommates to an apartment.  Do you think this is just a phase and eventually young professionals will migrate to cheaper cities where an apartment can  be had for the price of a room in Boston? Or will young professionals leave due to the inaffordibility of the housing in the area? Curious to hear your thoughts.

Seems like the whole hq2 was a game to extract tax breaks and concessions from NYC and Washington DC, which had been preselected from the start.  You don't really need to scour across the United States in order to land up with DC and NYC.  Amazon intended from the start to set up second headquarters in a supercity where Bezos btw already owns homes.

@Dan K. The city oftentimes has two figures for buildings, gross square footage, and also square footage of living space.  I wanted to know whether the square footage of living space figure is accurate.  I would think that it excludes the common areas.   

If a triple family multifamily is converted to condominium, how is the square footage of each condominium determined? How does it relate to the living area square footage recorded by the city for the multifamily? For example, if the city has a multifamily measuring 3000 square feet of living space, will the total square footage of the three condominiums also equal 3000, or is a different means of measurement used.  Thanks!

In coastal markets, the multifamily market tracks the condo market, and there is typically a discount when you buy multifamily.  So for example, one can buy a 5 cap, and after all expenses related to a condo conversion are accounted for, one can have say a 15% profit margin.  If one buys the multifamily and holds for say 5 years, and then exits through a condo conversion, one didn't make 5% yearly, but more like 8% annually. (that is totally ignoring any appreciation during those 5 years.) Coastal market buyers often think in terms of a condo conversion exit.

Hi all!

I have a unit to renovate in boston and wanted to know labor cost (including only rough materials typically supplied by the contractor) of

1) a averaged sized kitchen remodel (i.e. Demo old kitchen, install new cabinets, appliances, floor tiling and backsplash )

2) bathroom remodel (demo old bathroom install new tub, floor and wall tiling, vanity etc). 

I am assuming no major plumbing upgrades. 

Hi All.  I have an rental apartment to renovate in the boston area and wanted to know roughly what labor costs (including rough materials like cement boards etc., but not including appliances, cabinetry etc. ) should cost for:

1)) a typical sized kitchen remodel (assuming demo of existing cabinets, and installation of new kitchen cabinets, floor tiles, backsplash and appliances). 

2) new bathroom (gut previous bathroom, install new tub, new vanity, new tiling etc. (but no major plumbing upgrades).

I'm interested to hear your opinions!

@Antoine Martel, yes the syndicate that I invested with told me that while the LLC doing a 1031 is a possibility, I shouldn't count on it. The reasons are that most of the members need to want to stay in for it to work, and the sponsor needs to find an opportunity it considers compelling that works into the time frame. Furthermore, if the sponsor decides to sell the original property, that could mean that they think the platform that they originally raised money for is no longer compelling as a buy (say multifamily in region X), and they need to get most of their investors to switch over into a new platform. That seemed to me a thorough and honest answer.

@David Veeder, would you be willing to share which company you've invested with?

@Ash Patel Thanks! I will check them out.  What fee structure do they use?