All Forum Posts by: Aaron Montague

Hi There @Avishay Kolatkar!

I live in Brookline as well. Do you want to meet up and talk real estate sometime?

M and A Investing has officially embarked on its latest & greatest venture: M and A Construction! Yes, our creative naming conventions are quite dazzling, but we have so much more to offer!

M and A Construction specializes in bringing high-quality kitchen & bath remodels to our customers, with a dedication that they will enjoy the finished product for a lifetime. We are based in southeast New Hampshire with an eye towards building better places in our own backyards. Our lead carpenter was a dedicated union carpenter in Boston for 18+ years, and we have team members who harbor a plethora of field knowledge, are hard-working, and focused on bringing great success to the M and A name.

We are currently seeking interested investors who are passionate about (quite literally) building better futures. Our construction company is still in the formative stages; i.e.: the perfect time to jump in, get involved from ground zero, and be a part of helping M and A Construction grow and flourish.

You can learn more about our kitchen & bath remodeling services on our website at www.mandaconstruction.us, but please reach out at (603) 244-6289 for a more detailed conversation on investment opportunities with M and A Construction!

Hello BP,

M and A investing has started up M and A Construction. While you are dazzled by the creativity of our naming conventions, please give us a ring if you have any kitchen or bathroom renovation needs.

You can see our beautiful website at https://www.mandaconstruction.us/ . While the construction company is new, our lead carpenter was a union carpenter in Boston for 18+ years. 

We get investors, we really go.

Please reach out at 603-244-6289 if you need anything.

Short Version:
My partner and I have a signed P&S on https://www.realtor.com/reales... . There are two buildings on the lot, a 3 family up front and a single family out back. We have the money to buy, rehab, and flip the property from our other real estate investments. However, we have some larger ideas for the property and the city is promoting something closer to our big idea rather than a simple fixer upper.

Purchase price is $435k, rehab should run about $400k. Nice, higher end condos will sell for ~300k or more given the location. We intend to turn the 3 family into a 4 condos as it's basically a cube shaped building. Our most likely scenario has us making $126k on the deal... and we still have the back half of the property!!

Please DM me, call me at 518-892-6471, or email me at [email protected] with any questions, critiques, or suggestions about this deal.

Longer Version:
This deal will make money by flipping the front building alone. This leaves us with the back part of the property with its 3/1 SFH. The house's foundation is not in great shape and will require a fair amount of work inside as well.

Our ideal partnership would be someone willing to bring about $1m to the table so we can knock down both buildings, fix the site, and put up at least a 12 unit mixed use building on the site.

We've run several scenarios with some exceptional results if all goes well, and unfortunate loses if things go poorly. The advantage of the poorly situation is that rent rolls in the area are strong so weathering that setback will not be too financially painful.

3-family fix up:

Convert to 4-family:

The 4-family conversion certainly makes more sense for using the existing structures. We're also looking at the "1 big building" scenario alluded to above. That math looks closer to a $1m in profit, $4m selling minus $3m in costs, but it it hasn't moved out of the estimates stage.

If you are interested in more details, or simply discussing the deal, please let me know.

I'm looking for a Property Management company, or recommendations for one, to manage a condo rental on Main St in Foxboro.

Does anyone have a lead for me?

Thank you!

Hey @Alexander Rovsek, I can take you through my process for multi-family investing. I've been in the business since '04 and have seen a thing or two.

A text is probably the best way to reach me, then we can set up a phone call or 3.

Hi @Ainsley Logan!

Welcome to BP.  As you can see, this is a great place to get information.

The advice I've seen thus far is good. The final thing you need is detailed numbers, which we can help you figure out.

My expense portion of my multi-family looks like this:

That final line, 38, is compared to total revenue. Your places should hopefully bring in quite a more than that :)

You need to look at each property individually to see if any of them are worth keeping. If you post those numbers here we can show you exactly what needs to happen for the places to become profitable.

Hi There @Marlin Liberatore

I'm going to look at your numbers from my perspective. That perspective doesn't have any knowledge of Iowa but it does come with almost 20 years in the long term rental business.

Vacancy $90.00 (5%) - This is slightly low in my opinion. We use 8.1%, which is 1 vacant month per apartment per year. Is this a SFH (single family home) or a multi family property?
Repairs $90.00 (5%) - I generally combine these 2 lines. This is the total amount of new roofs, new water heaters, and everything else you'll replace over the next 30 years divided by 360. Alternatively I might say your repairs bill is a bit high, and Cap Ex is low. I'd elevate the combination of these lines to at least $250/month. If you sell it with money in that account, even better :)
CapEx $90.00 (5%)
Water & Sewer $150.00 (8%) - This seems REALLY high for a single month.
Insurance $100.00 (6%) - Looks good.
Management $180.00 (10%) - Right on.
P&I $421.60 (23%) - This is low because you used 3% on your mortgage rate. No one is lending at 3% that I'm aware of right now. I'd bump the estimate to 6% and rerun your numbers
Property Taxes $200.00 (11%) - I'm going to assume this is correct. Though it looks like an estimate. This exact number is important as it can make or break calculations at this size.
Total $1,321.60 (73%)