Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Try Pro Features for Free
Start your 7 day free trial. Pick markets, find deals, analyze and manage properties.
All Forum Categories
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

All Forum Posts by: Nelson Taylor

Nelson Taylor has started 8 posts and replied 68 times.

Post: Relocate to Rhode Island and want to start investing

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35

Ken, love to help in any way I can as an agent or just as a friendly investor. Let me know if you ever want to get together for coffee or some such. 

Post: Relocate to Rhode Island and want to start investing

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35

Welcome, Cheng. Providence metroplex offers great investment opportunities, but is very nuanced. My advice is to build a strong team. 

Post: Relocate to Rhode Island and want to start investing

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35
Originally posted by @Ken Hoffman:

Hi Cheang welcome to RI!  I’m a new investor as well and have my first 6 family under my belt but it’s not in RI rather Fall River, Ma.  

There are some local real estate investor meetups,  If your interested I’ll send you some info.  It’s a small group of mostly new investors so might be a good one if your getting started.  

Ken

 Nice to meet you, Ken. Why did you choose The Rive over anywhere in RI?

Post: Reasonable built in equity in Providence RI?

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35
Originally posted by @Brandon Ingegneri:

So to answer your question, within the last 45 days, I have done 4 transactions. I will provide you basic numbers on all of them. Every single one was an organic off market deal. 

Central Falls: Industrial Building, SFH, 4 unit package. Acquisition $450k. Appraisal $572 before value ad.

Providence. SFH. Acquisition $50k. ARV $180-200k. EST rehab cost $60k sold as is

Narragansett: SFH 4 bed 1 bath acquisition $235k Appraisal $417k. rehab $60k

North Providence: Brick Duplex. Acquisition $230k. Tons of value ad opportunity and ability to ad a legal 3rd unit rehab @70k. ARV $392k.

Doing all of these metrics out, I would have paid more on taxes on the SFH in Prov had I kept it than I would have individually for Narragansett, and NP. CF property is taxed commercially and really isn't a comparable as it is 3 combined parcels. However, it is worth much more if I were to subdivide and sell off individually which I would not do

Congrats on those deals. You sound like you’re killing it. 

Post: Property Management Contracts & Questions

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35

Hey, Bryan. Good to hear about your new direction. Stay in touch. 

Post: 3 Units appraisal came back 50K below

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35

As a real estate broker, I feel that more often than not appraisals are arbitary. Low appraisals can be an opportunity to get a better deal. Did you try to renegotiate with the seller, say you won’t pay a dollar over what the bank says it’s worth?  If they say no, tell them you’ll split the difference. You should have a real estate agent advising you on the value range of the property. 

Post: Reasonable built in equity in Providence RI?

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35

That's a difficult question. Impossible in the top neighborhoods. Market still too hot. And difficult with nicer updated properties. You're probably looking at properties to BRRRR. If you can do cash, I think 10% at the lower price ranges is def possible. I've been having luck with motivated sellers, properties with extended DOM and adding equity by adding value.

Post: Landscape Excavation for Driveway

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35

Thanks!  Yes, PVD. Know where I can find that list?

Post: Homeowner inspectors in RI

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35

@Brett Aguiar Adam Butler at House Doctor is fantastic. He’s an investor/flipper too.

Post: Landscape Excavation for Driveway

Nelson TaylorPosted
  • Rental Property Investor
  • Providence, RI
  • Posts 75
  • Votes 35

I am looking for connections and advice.  First, I am looking for a landscape local RI or SE MA excavator to give me a quote on expanding a walled driveway.  Second, I wonder if anyone has any general advice on potential pitfalls re: excavating to expand a walled driveway--and what kind of pricerange I might expect--ballpark understood.