All Forum Posts by: Rawderson Amaral

If the floors are to much out of level that means foundation and structure problem

On estimates don't worry about updates like floor paint job new cabinet so on Look for heating system electrical, plumbing, the restructuring of the building Up dates is usual 10k per unit like a paint job floor and some others updates I buy cabinet on this site it's like 2k for a nice set! Rta.com

I used this site www.neighborhoodscout.com to check the area it's very good so if the vacancy rate is less then 10% and the income level is low/mid and higher it's a good location

It all started with the movie the secret I watched that movie felt positive and motivated went to a book store on the next morning my eyes went straight to the book called Rich Dad Poor Dad and 5 years later here I am. One more thing I was also an illegal immigrant prior to the movie today I am an American citizen perfect credit score on my way to become a self made I am not bragging I am trying to impaired you out there because if I made this far from where I was imagine where you can go ONLY IN THE GREAT LAND OF AMERICA !!!!

So I purchased my first property a 3 family 33 Upham st Malden in 2012 for 340k I put 5% down 
I used credit card to remodel unit 3 and moved in 
Got an equity line in 2014 50k paid the credit card and fully remodel unit 1 and fixed up unit 2 

Bought a single family and moved out so now 
All 3 units are rented for 1400k total 4200 the cost is only 2100 everything 450 principles we cash flow now 2500$ every month The single family I bought it cash with my brothers money for 200k short sale remodeled with 30k 
Sold it to my wife for 350k did not pay realtor fee or capital tax I live on the house 
Paid my brother 260k back out of the 230k he land it 
So now I have 90k for down payment on the 3 family in Worcester 33/35 Upham st is now worth 600k we own 295k All I had to start was 20k in 2012 that 20k is now worth 400k 4 years later That's my story My goal is 10 triplex cash flowing from 15k to 20k month by 2021

So I purchased my first property a 3 family 33 Upham st Malden in 2012 for 340k I put 5% down I used credit card to remodel unit 3 and moved in Got an equity line in 2014 50k paid the credit card and fully remodel unit 1 and fixed up unit 2 Bought a single family and moved out so now All 3 units are rented for 1400k total 4200 the cost is only 2100 everything 450 principles we cash flow now 2500$ every month The single family I bought it cash with my brothers money for 200k short sale remodeled with 30k Sold it to my wife for 350k did not pay realtor fee or capital tax I live on the house Paid my brother 260k back out of the 230k he land it So now I have 90k for down payment on the 3 family in Worcester 33/35 Upham st is now worth 600k we own 295k All I had to start was 20k in 2012 that 20k is now worth 400k 4 years later That's my story My goal is 10 triplex cash flowing from 15k to 20k month by 2021

I am going to spend 10k on updates on each unit and rent them for 1200$ it will be luxury unit quality tenants Total rent 3600$-1400$=2200+300 principles. 2500$ 30k 10% vacancy if 2250 27k After 2 years we refinance 300k Cash out and the property becomes a infinite income level return on nothing!!! That's the plan for 96 Lovell st fingers crossed 🙏

Thanks Andrew I look around its all the same 25% down 4.5 % APR I lost 4 offers already Worcester is getting hot Today I put a new offer on 96 Lovell st Asking 225k I offer 242k

I am a new investor and would like to participate Thank you

Hi I am from Malden MA I am a general contractor me and my wife own a 3 family and a single family in Malden and are now looking to buy another 3 family in the city of Worcester MA 1 hour from Boston.

We have being preaproved for a conventional loan 25% Down 4.25 rate

 Is there a better option for loans? 

Also besides 25% down we have to come up with the improvement cash for improvement 

Is there a rehab loan for investment properties?

Thank you. Rawderson Amaral