All Forum Posts by: Peter Amour

yes , burlington , winooski, so burlington are great rental areas . i have noticed some resistance lately with all the new rentals being built , but still easy to rent ( maybe vacancy rate is 3% now ) . the new stuff being built are pretty high end and tend to be $1,400 up for 1 bedroom ! i think thats similar or even higher than boston ! 

i owned a 4 unit once in st. albans and would not recommend it unless you know your stuff , its a different animal , different market . i was less than a 1/2 mile from the hospital and couldn't find the people i wanted ( made them pretty nice ) i think everyone was a smoker and in and out of a job .

i bought one similar to this , we took out six 30 yd dumpsters of crapp , taxes papers from 1950's , birthday cards from 1978 ...... i unfortunately found a gold coin the first or second day , so i wouldn't let my partner throw anything out without looking , lol .

 we have something similar in vermont  ( 4 people ) , but they also have a clause for " non- functional family " . what is a family ? its not really definable !  we basically are all over them if we hear about a noise complaint , and tell them if we get a call at 2:00am ( we never do ) we will be calling all their parents as well , so they can be awakened as well :) we make them sign an adendum that says they are a " family " they all eat , shop, share bills, .... together as a family . 

so far so good .

i would not contact the family direct either ( unless non mls ) normally too difficult to get everyone to agree . i would not be afraid to make the offer , i have done far less , but obviosly , all markets are different . i normally usa a cap rate on everything , but since you will be living there it would be much less . also , keep in the back of your mind , its still an investment , so you will want a return at some point in the future !