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All Forum Posts by: Clara Arroyave

Clara Arroyave has started 0 posts and replied 26 times.

Post: Rental agreement for pad split or room rental.

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13
Quote from @Bat-Erdene Chagnaa:

Does anyone have a rental agreement for pad split or room rental? I'm a newbie trying to rent out rooms in my 4-bedroom, 3-bathroom house in Seattle. If you don't mind, please provide advice on house rules, finding roommates, and payment. Thank you so much.


 There are several available. If you cannot find anything I will email you one. 

Please include:

When and how is rent to be paid

When and how are utilities going to be paid (if any)

When and how is the cleaning going to be (if shared or provided)

What are the costs associated with damages / breaking stuff / calling a technician

What are the costs of breaking the lease, finding a replacement if you are doing short term leases on the rooms

If they lost their keys or check bounces what is the charge for it, how the cleaning of the common areas is going to work, and enforcing quiet hours.

Post: College Student house hack in Boston

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13
Quote from @Preeti Sharma:
Quote from @Clara Arroyave:

Hi @Preeti Sharma, 

I have operated about 80M of inventory for landlords that do house hacking/leasing by the room in the Boston / Cambridge / Allston / Somerville area and I can identify value and opportunities where others have not given my unique expertise. Happy to help you find the right unit to get this journey started.   

Email me or text me at 617 299 1053


 Thanks Clara. I will be visiting Boston in mid-feb and would love to connect then.


 Wonderful, keep me posted on dates and we can schedule something interesting. 

Post: recommendations for women investors

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13
Quote from @Michelle Gonzalez:

hello. looking for advice on which books helped women most with investing in real estate? SFR, duplexes and small apt. communities? Any advice that you might feel is beneficial to women investors? thank you.


 Michelle, not a book but a podcast "Flip houses like a girl" by Debbie DeBerry. She is based in Texas as well and has helped a lot of women get started in real estate.  

Very actionable and simple advise. Highly recommend her. 

Post: Pooling Money With Trusted Friends to Buy Real Estate?

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13
Quote from @Griffin Sisk:

Hi all,

I'm new to the real estate space and currently live in Boston, MA. Those familiar with the area probably already know that it's not the best spot for cash flow returns, but carries pretty significant opportunity for appreciation. The barrier to entry I'm currently facing is buying a multifamily in Boston is not cheap.

I have some money saved roughly ~$70k to invest into real estate, but even that isn't enough really, for the greater Boston area, without taking on a considerable project that I'm not sure I'd be ready for as my first purchase.

I'm curious if anyone has experience pooling money with 1 or 2 trusted friends to buy a multifamily property. What are some of the pro's/con's of something like this? Anything to watch for? 

The way I see it, if these friends are viable and trusted business partners it could make Real Estate in Boston more affordable with shared responsibilities to reduce the workload of managing the property. However, if the home has little cash flow return would it really be a good idea to share an asset with friends with no short term returns? 

I'm still super new to the space, so I'd love to hear your thoughts!


 Besides the already stated partnership and operating agreements, I've learned that when you build something with friends, the hardest part is not to agree but to disagree, meaning how the conflicts will be solved in difficult times. If that is written from the beginning you will be ahead of more than 50% of the other partners and friends doing business together (speaking from experience). 

Decide also when and how to sell and what happens if one of you guys wants to walk out but the others do not.

You can try and go for a Multifamily in Worcester, those go for the 600"ish range. Given the new low down payment for Multis starting at 5%, you might be able to get one. I would advise on "house hacking" or rental by the room to increase revenues and get going quickly, so focus on location nearby one of the hospitals/colleges in the area so you can maximize your investment and minimize risk. Let me know if you have more questions on that particular strategy. Happy to drill down on it anytime. 

Post: Boston Rental Property Advice

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13



Quote from @James Lydon:

Hi All, I am currently a condo owner in the Boston area and looking to getting into Real Estate, specifically rental properties. i have been doing some searching on the market for the past few months but have not seen deals that would properly cashflow, at least to my knowledge. Is there something I am missing? Maybe I am just being impatient and the right deal takes time but I would love to hear other opinions. Based on the Boston market and my price range I have been looking at 2 and 3 bedroom condos.

I have strictly been looking in the Boston area bc I have knowledge of the rental prices, and thought it would give me the best opportunity to cash flow. Does anyone have successful experiences in the Massachusetts/Boston area with rental properties and willing to share some advice. Thanks!

James, 

Have you tried your numbers with leasing by the room? the numbers tend to work so much better that way in the Boston area. 
Furnished rooms go from anything between $1000 to $1500 in the Boston area with some variables for amenities, utilities, and cleaning if you want to add that on. I have clients with units on 8 to 10 CAP and 15 to 20% CAC on their co-living units.
Happy to connect and share some examples of where and how those numbers work (3+ bed units) and guide you through the process of setting up, leasing, and managing your cashflowing rental while minimizing risks.  You're welcome to set up a call with me and see if there is a fit for us to work together. You can also check my testimonials on my website - google. 


Post: Looking For People Who Want To Be On A Podcast

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13
Quote from @Cederic Frank:

Hey all,

We're creating a podcast for our community (mainly built of women entrepreneurs, founders, and investors) and are looking for other real estate professionals who would like to be on the podcast. We're aiming for shorter and sweeter podcasts and a big part of what we do is CoWorking CoLiving for digital nomads, remote workers, and entrepreneurs. 

Great to meet you, I am interested in joining an episode, I run a co-living marketplace in MA, plus, fit your description of women entrepreneurs/founder.  Looking forward to hearing from you. 

Check my website also here in the links. 

Post: Daily Schedule and habit/goal tracker for entrepreneurs

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13

This seems interesting as I am already have implemented the 12-week year into a Notion Template, but I feel that is not well integrated with my calendar and other systems. Happy to give it a try. 

Post: Joint Venture Investors

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13
Quote from @Moira-Luidgi Clervil:

I'm looking for an experienced investor with available cash that wants to fund fix and flip deals in exchange for a 50/50% split of the profits. I'm locating more deals than money. I'm investing in The New England Area at this time. If this interests you at all, please kindly send me a pm.

What type of deals are you finding? 
Feel free to connect. 

Post: Room Rental ?

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13

Comps = comparables in the market

Comparable rent for a whole place versus a room rent in your zipcode/nearby. 


Hope that helps!

Post: Room Rental ?

Clara ArroyavePosted
  • Real Estate Agent
  • Boston
  • Posts 26
  • Votes 13

Leasing per room will be great, and I admire that you are doing it to make it accessible for people, while it will be also profitable on your end. It's a win-win.

Keep in mind how many bathrooms are you planning to build: 2 would be ideal, and one will make the rent lower for tenants. 

Rental per room will be always more profitable than as a whole, depending on the market of course (rural vs urban) check local listings for comps. (if you need help with that let me know).