All Forum Posts by: Malika Mukhamedova

@Chad Smith

@Chad Smith this is so inspiring! That’s I truly believe in going long with real estate investments and putting your sweat equity. When you put 20% down at that time, did you have extra cash saved in case any repairs would be needed right since you waived the inspection?

Some of Boston properties is high risk reward scenario and being close to train station is definitely plus. Dorchester bothers some great neighborhood towns like West Roxbury and JP.

I also like the list of improvements that you mentioned that help with a property appreciation. Very cool! I myself look for a property through those lenses: What can I make better here? How can I add value to this home? That is why I shy away from properties that are remodeled and new. Somebody did that already and that is not what I’m looking for.

@Bob E. Do you mean avoid buyers agent and work directly with listing agent? Like he will dual represent?

@Bob E. Hi Bob, we are currently investing in Cleveland. Could you please send us your PM/realtor contact? Thank you in advance!!!

We locked up listed Triplex in a Cleveland Ohio. Large, high ceiling 2BD/1Ba Third unit did not have stove and during our due diligence, we found out that Cleveland Heights City zoned it as Duplex and County zoned it as Triplex (this they listed it as triplex). City Building planner emailed us back and said that county zoning has no bearable on city zoning ordinance. We were supposed to close in the next few days. RE agent has reporting this is common for Cleveland (esp for Heights area) and does not think we should ask for price reduction and that we “should have known” when we saw lack of stove on third floor. Anybody has experience? How should we proceed? Our RE agent does not seem to be on our side here, we might have hard time getting our earnest money/appraisal back. We strongly think this was mid-represented as it is zoned as duplex but being sold as triplex. Appreciate any advice

@Adam Sankowski that’s exactly my goal! Rent out a large and better unit and rehab the smaller or worse in shape!

Thank you for sharing with your experience and advice!

@Adam Sankowski Thank you for your insight on SHT and you just answered my dilemma on you got to love the place where you live in! I have been on my first Multi hunt and have been struggling with the idea on getting my desired location of multi vs multi that are much cheaper but further up north where I don’t really want to live but for the sake of getting into my financial freedom financially makes more sense.

And while going to shopping for multi I definitely saw having tenant in as a plus but your article opened a door for additional perspective.

I agree lowering the rate on rent is good idea. I have been looking for multi in a suburb a bit north of Boston by the ocean since renters now want space and nature to look at is nice have to get out of their 4 walls.

I have also done a bit of analysis on rental inventory, that I wish I could take a pic of and send over in up and coming towns like Everett and noticed in inventory is up and so is Avg day on market (12%)and rent prices are down as much as 22% for September month compared to last year and that’s reflected in more multi inventory in Everett market as well. Also, keep hearing people’s moving into suburbs where rent is cheaper and dollar gives a bigger sqft.

But good news, I didn’t see rental properties sitting on the market for more 3-5 months exceptions it’s grossly overpriced or in a poor condition. So having cushion of 3-5 moth of vacancy is definitely peace of the mind.

@Erick Sembrano thank you for your feedback! I am a real estate agent myself so have MLS access and yes I have heard of driving for a dollar as well. Also, I use BlackDiamond group for a source of off market deals. But driving for a dollar something I have heard of but not tried! I'm going to consider it! Thank you!

@Brian Leung Hey Brain! I’m a real estate too so if you have any questions, please let me know! Would love to help! I helped couple of buyers to get their property in Malden and Quincy area in the past and now on a quest to find my own multi!

@Roderick Sembrano I'm looking in Winthrop and Revere, so in your neighbor towns. I'm planning to househack and looking for multis that needs some work that still qualifies for FHA and do brrr. I have been saving $ and also investing in stock market to help me with raising my downpayment. But again, struggling with my decision on where I love to be but it's high risk since much more expensive and winter rental is here and Covid, I hear people moving to suburbs out of Boston. Good thing Winthrop still considered as outside of Boston.

And there is NH next door where multi properties are cheaper but I wouldn’t not like living there being away from Boston but math wise it works better and less stress but properties do not appreciate as fast compared to Boston area.

Any feedback would be greatly appreciated!

This is awesome! I’m currently looking for my first property, multi-family in North of East Boston area. Did you buy it with renters in other unit? If not, how was finding renters in these covid times? As people move away from Boston city.. I am an agent myself as well.

Thank you!