All Forum Posts by: Matthew Gavis

Welcome @Matthew Gavis! I'm an investor out here and most of my units are in Dorchester/Roxbury. For maintenance I typically underwrite at 5% of gross income, which i've found to be on the high side but not terribly inaccurate. For your standard triple decker that comes out to like ~$300 per month, which is 1-2 handyman trips. For capex I typically go bout $50-75 per unit per month, though that number obviously changes depending on the condition of the building (if I'm gutting it upfront it would be lower). Haven't run into trouble with it yet in 4 years lol. For physical vacancy rates you can google them, I've seen stats as low as 2%. I don't personally like underwriting that I think it's a little thin, so I typically go 4%, which I think is more reasonable especially since I'm a long term buy and hold person. Let me know if you got any questions! -L

Hi Lior, thanks so much! This is extremely helpful!

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Hi Everyone, my name is Matt and I'm a long-time follower of BP though this is my first time posting. I just wrapped up grad school at Duke, moved back to Boston, and my friend and I have formed a partnership to purchase our first investment in the area which will be either a duplex or a triplex (likely targeting East Boston, Dorchester, or Quincy)

As I'm running my numbers, I'd love to hear anyone's input on capex / maintenance figures in the area (feel that I've heard fairly wide ranges), closing costs at ~$750k-$1M, and also thoughts around vacancy rates.

I'd love to hear from someone with more experience than myself as to what they typically see.

Thanks!

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All Forum Posts by: Matthew Gavis

Matthew Gavis has started 1 posts and replied 2 times.

Post: Greater Boston - Duplex / Triplex Purchase

Post: Greater Boston - Duplex / Triplex Purchase