All Forum Posts by: Maureen F.

Date correction: it's on Saturday May 27 at 11 A.M.

@Fabricio Bohrer, I don't have the answer but wanted to check and see what happened in your situation.  Also, there's a Boston Wealth Builders event tomorrow featuring this development company (that started this thread) about a condo conversion; these sessions are always very informative.  May 20, 11 AM, 22 Roseclair Street, Dorchester.

@Luis Capriles - Nice, must be good to be handy and practical.  Unfortunately we're in a different situation and have to go through all the hoops.

@Luis Capriles - That's interesting.  What did the work consist of?  Did you do any of the work yourself?  Was it fully permitted/city approved?

There could be a difference in real estate taxes which I've heard are high in Texas. RE tax is included in the debt service coverage ratio.

@Patrick Wheeler - yes that's the maximum allowable but they don't have to go to the max, each case is looked at based on comparable market rents in the immediate area, size and condition of unit, amenities etc.

What's your target tenancy -- S.8 or market?  If S.8 you would likely get higher rents on a 4BR than 3BR.  We just got a rent increase on a 3 BR S.8, to $1915.  In theory we could get $2100 on the private market but would be dealing with more frequent turnover/vacancy loss (and we already have a solid S.8 tenant in place).

Sounds good Patrick!  Did you buy it off-market?  How many BR's per unit?  Do you plan to install fire sprinklers?

Sounds awful -- maybe the Housing Inspection Department can help.

Thanks @Jim Adrian.  Yes, it will have its own systems,  tenants pay utilities.  I have seen the egress windows that you refer to, that's a reason why I'm thinking of a 1-BR rather than a 2-BR.