All Forum Posts by: Nick Mulligan

Hello all,

I would love to reach out to local landlords or property managers in the Taunton area and grab a drink or two and talk about some things. I am trying to make some contacts in this area, and ask some general questions about Taunton or the surrounding towns. I am mostly interested in discussing the types of residents in Taunton and how you view the market. If you are from the area and are willing to talk, please reach out. I would love to meet you.

Your friend,

Nicholas Mulligan

Not knowing the specific laws in PA, if it is a reasonable request you must let them build the ramp to avoid violating Fair Housing Laws. Disability is a protected class. However, the tenant must pay for the ramp, and must return the property to its original condition when they leave. Make sure you document all of this with pictures, etc.

John,

Congrats on the purchase. I am currently trying to do the same thing as you, house-hack a 2-4 unit (hopefully 4). I do not currently own any units, so take this as you will, but a good strategy may be to call around to local units that are renting and pose as a potential renter. Ask the agent/landlord what the rents are and you should be able to get a decent idea of what the landlords in your area are renting for. 

Your friend,

Nick

@Charlie MacPherson Interesting that you mentioned Brockton. I haven't been thinking about Brockton, but that could be an interesting place to invest because people may be moving out of Boston to places like Brockon?

I'll add that to my list of places to consider, thanks for the info.

Hello all,

I have a couple questions, one general and one more specific to my local area.

Specific: How do you guys see the New Bedford/Fall River/Taunton  markets for buying a mutlifamily home? I am looking to buy my first property next year, live in one of the units and rent out the others. These three areas are the ones that I am mostly looking at right now. I work in Marion, MA so the commute to Marion I would like to keep under 40 minutes. I am doing a lot of research right now to find the good/bad areas of each town. 

General: What data do you look for when trying to analyze the housing market, especially for multi-families? Also, what tools do you use to get this information? I currently use Realtors Property Resource to see median income/education level and things like that.

Your friend,

Nicholas Mulligan

Yes, by commercial I mean multifamily (5 units and up), and for size, I want to get into 16+, and eventually into larger and larger apartments with 100's of units. 

Hello all,

I am trying to get into multifamily investing soon (by next year) and am thinking about purchasing a 3-4 unit as a first time home buyer and house hacking. My ultimate goal is to be in the commercial space and buy these much larger deals. The issue of course is that it will take a long time to save up enough money for a down payment for a commercial sized property. 

Do you guys believe house hacking a 3-4 unit apartment as a first time home buyer is a good way to accelerate my income so I can get into the commercial game quicker? Maybe hold it for a couple/few years and then sell it and use the profits as a down payment? I'm mostly concerned about buying a smaller deal like this because I won't be protected in a market downturn with only 2-3 tenants, and also the property not generating enough cash flow for it to really be worth it.

What do you guys recommend as a great place to start, knowing that the goal is to get into these larger commercial sized apartments as quick as possible?

Your friend,

Nick

Thanks for the reply. I've listened to a lot of Grant Cardone's stuff on YouTube. He has some great motivational talks, although I do think he holds back on a lot of his videos. Getting sales training is a great idea. I've been listening to Victor Antonio and I think he is great. I've read Influence by Robert Cialdini and it was one of my favorite books. I will continue to try and expand my sales knowledge at the same time as my real estate knowledge. 

 Once I save up enough money and pay off some of my college loans, I will try going into an actual purchase. I am expecting to learn more from my first purchase than any books or videos that one could possibly read or watch.

Thanks,

Nick

Thanks for all of the feedback. I will try and find some local professionals in my area and start reaching out and attending any live seminars or talks that I can. I need to save up some money before I can purchase anything, but I am building as much knowledge as I can right now so I will be as ready as possible. I expect to learn more from actually purchasing a property than from any book that you can read. Thanks again for all of the suggestions.

Hey guys,

I was wondering what books you would recommend on commercial real estate investing. I am just starting out, and I have read Crushing It by Brian Murray, The Complete Guide to Buying and Selling Apartment Buildings by Steve Berges, and will read The Perfect Investment  by Paul Moore. What books have helped you out the most in commercial real estate?

Your friend, 

Nick