All Forum Posts by: Patrik Kisucky

Just received the letter from the city that my property was selected for the inspection cycle. I believe I can choose between a  City Housing Inspector or Authorized Inspector to conduct the inspection. I'm leaning towards the Authorized, even though it's a bit more money. Could anyone refer an authorized inspector that you had good experience with by any chance? Any other advice on how to prepare for the inspection is welcome.

Good luck with everything @Jared K. The high risk deleading will probably cost $$$. Would love to hear how did you decide to move forward.

Hi @Jared K., everything went well in my case. I would personally not recommend scrapping, as that creates a lot of dust. @Robert Loiselle is correct about  the pro high risk deleading companies, they do a great job with cleaning, but I believe you can remove the trims and the jambs by yourself with the low risk license. Essentially you would just replace the whole door with the jambs and the trim as well. 

Yes, I'm looking into the $1500 tax credit, as i was told at the Lead Safe Renovator class. Also taking the Moderate Risk Deleader class soon. About to join both masslandlords and spoa groups as well. So it's great to hear about the proposed increase to the tax credit. 

If I can ask, how is NH different/better vs MA? Is the house cost to the rent ratio better? I would assume so.

TY!

Thank you @Robert Loiselle, appreciate your comment. Everything spot on. Just learned about the condition and it's not too bad, except the Unit #1, that needs window casings, sidings and sills to be replaced, as well as some door casings and jambs. Unit 2 and 3 pretty clean except 2 more windows, and one door casing and jamb. I think this is a good news. Already working on placing tenants from unit 1, for a while to possible another property. My friend owns a few in Lynn, so will see. Again, TY very much for your reply and insight. Are you still buying, btw?

TY @Colleen F.  Two units are on the lease, and they expire at the end of June, one unit is TAW. Which means even though I'd ask the TAW unit, I wouldn't be able to finish the whole house in 3 months, since the other units are up in July. So, I wouldn't be able to let the tenants with the lease go, even though I did not sign their lease? I may be wrong as I'm a new investor and learning on the way, but I heard, since you are a new owner, you could get the tenants out. Don't know the scope yet, that is going to be my first step, and I have a LSR (lead safe renovator) certificate, and also acquiring the Moderate risk deleading certificate. I also know a company who can help as well.

Hope everyone is well! I purchased a 3 family property in Ma, with tenants, and there is children under age 6, in two units. The property lead status is unknown, there was no inspection done, but the house is built in 1910, so I figure what that means. As far as I know, as a new owner, I have 90 days to delead the place, before I'll become liable. So I'm contemplating different strategies to get it done. A friend, investor would empty the property (get the tenants out) and would renovate/delead the house, then bring in new tenants. I kinda feel bad for the tenants to do that and also hoping to find financially friendlier solution. 

So here is my plan - idea:

Talk to all of the units and let them know, that I want to renovate the house, and ask if they would be willing to move out. I may offer some incentives here. I will talk to each unit separately, and my goal is to get one unit empty, so that I could renovate/delead the unit. After the reno is done, I would move one of the remaining tenants, into the renovated unit, and proceed with reno/deleading of the other unit. And finally repeat that again, to get the whole house done. There is a flaw in this strategy and it is that I need to know, what do I need to delead specifically. Assume that I know.

What do you all think about it, or can you share what worked for you? TY!

Thank you @Bruno Ceolin, yes still looking.

I live in Stoneham, Ma and looking in the following cities: Lynn, Medford, Everett, Malden, Wakefield, Melrose, Stoneham. I think Lynn cashflows the best, but the housing is so so, the median income not great, but again, good cash flow locally. 

Awesome, Thank you @Mark H. Porter! Yeah, bank I'm working with told me, if there is no current CF / property is being delivered vacant, they would need a three months in advance mortgage payments until the property is cash flowing. I'm afraid, I will need to bite that bullet, as the market around me is what I have described above. But I appreciate you are sharing your experiences and your knowledge with me, as that is helping me to learn, and I will certainly keep that in mind when looking.