All Forum Posts by: Mike Duran

Hi @Alison Crawford I'm not sure what your criteria is to be considered a good deal but I can meet my criteria in Worcester pretty regularly and I won't even consider anything under a 10 cap. It is a bit harder to find and I usually end up in places that need a good amount of work, but thats where the meat is on the deals right now. So, I guess the question here was what exactly are you looking for?

Hi @Christopher Petrigno I can without any hesitation urge you to look at Worcester. The first place I ever bought real estate was Chelsea and I did extremely well there, but those days are over. I moved my business to Worcester a few years ago and it was the best financial decision I've ever made. The market is so hot and crazy right now, the only way to get decent cash flow is to look at a 7-10 cap market like Worcester. I also strongly feel that we are at or near(maybe even just past) the absolute peak of the market and that banking on appreciation is unwise at this point. Feel free to reach out if you'd like to chat a bit more about Worcester.

Hi, I manage the property management firm in Worcester area. Please contact me!

Limitless Real Estate Group LLC - Property Management

We handle every aspect of realty management so that you don’t have to.

- General maintenance and upkeep

- Demo and rehab construction

- Lease processing and renewals

- Tenant selection

- Screenings, background checks, deposit collections and lease agreements

- Property repairs

- Rent collection

Hi, we are the professional property management in Worcester county with the competitive fee. Please contact me!

Limitless Real Estate Group LLC - Property Management

We handle every aspect of realty management 

- General maintenance and upkeep

- Demo and rehab construction

- Lease processing and renewals

- Tenant selection

- Screenings, background checks, deposit collections and lease agreements

- Property repairs

- Rent collection

Hi @Matt Donker , 

    I'm a full time investor based in Worcester and I'm in process of opening up a property management/Real Estate Brokerage office. Feel free to call or text me if you would like to discuss further.

Hi Spencer,

    I agree with Steve that insurance looks low and snow/landscaping really depends on the property. If you have a lot of grass to cut or a big driveway those things can add up fast. How close are you to being ready to buy a place? If you're ready now I'm currently selling a very large 2 family(12 bedrooms total 5 and 7 per unit) thats in good shape and is getting over $3,000 a month in rents currently right in your expected price range. It's 9 forestdale rd if you want to google it. 

Hi BP,

   I'm in Houston for a few days and would like to meet up with successful multi family or commercial investors out here. I am not looking to meet anyone that does not own multiple properties, that includes agents/brokers. I am considering making some investments out here and want to get a good feel for the market. I would happily pay for lunch or dinner to thank you for your time. I can be reached through this post or via my contact info below. I'm only here tomorrow and Friday but look forward to meeting someone that has a good grasp on this market.

Thanks,

Mike

Hi @Jim U. I act as GC for the projects, and yes if permits are needed the subs pull them

@Taoufik K. I normally spend 8-12k to renovate a unit in worcester or chelsea, but I have good systems in place, I wouldn't imagine it could cost any more than 20k to do one, if you spend more than that you are making mistakes somewhere. I recommend you sub everything and get multiple quotes, for example have 3 or 4 floor guys come give you a quote, have 3-4 guys quote out the kitchen cabinet work. Try to sub every part of the work, like have painters quote the patch and paint jobs for your walls. Another big thing that helps is to source the materials yourself, I like grossmans for cabinets and get most other items at home depot. When you go to home depot go to the pro desk, get a pro account and try to order as much stock as you can so that your order is as high as possible, they will then run it through what they call the "bid room" and it will save you some money. To go even further you could take that quote and play lowes vs. home depot and go back and forth until they can't go any lower, but I usually don't spend that much time on picking up stock for a job anymore. Hope this helps, it takes a lot more time but you will save a ton of money.

@Shirley X. Thats a gas parlor heater, and I have lots of units in Worcester that have them. I love those heaters because they have been there for like 50 years, never have any major issues and just work. They might not be beautiful but they are very low maintenance and cost effective. If you get rid of them Id be interested in taking the old ones off your hands, but my opinion is keep them forever, especially if its for a rental. Also you can use high temperature spray paint from home depot on them and it comes out nice, there are many colors to choose from, but I wouldn't even bother with that, just clean it up is what I suggest.