All Forum Posts by: Ashley Owens

Friday noonish sounds perfect. See you then!

Hey Barbara,

No the utilities (gas and electricity) are separated. A gas meter and an electrical meter for each unit as well as an electrical for the common area (basement). We included utilities because of these particular tenants and the fact that we wanted to work with them. 

I could meet you to see our unit and the basement on Friday or Saturday if either of those work for you I'm available pretty much anytime either day.

Thanks!

Ashley

DO NOT BOTHER TENANTS!! 

Unit 1 was owner occupied, but we have recently moved out in order to sell and to be closer to work. Interior was renovated 6 years ago and is still in great shape. We lived there for the last 2 years. Market rate is approximately $1800.

Unit 2 has great tenants who have been there with us for the last 2 years. They have a lease through 8/31/2017 which includes their utilities in their monthly payment. Rent is under market especially with utilities included which average $500 to $600/month for this unit, but we loved these guys and they have been amazing. Interior was renovated 6 years ago and new bathroom finishes 2 years ago. Market rate is approximately $2750.

Buildings For Sale:

This portfolio outlines four off market buildings for sale. Two side by side, located in Boston’s highly desirable South End neighborhood; 7,250 SF and 4-6 Units each; $2,650,000 each; $5,250,000 packaged. Units are currently leased through 8/31/17. Another one is located in Jamaica Plain; 5,476 SF 3-Family; $2,250,000. The 4th is located just down the road from the South Street Green Line in Brighton; 9,656 SF 3-Family; $2,800,000. All units are leased through 8/31/17, huge building, huge lot.

PM me for more information.

Condos For Sale:

This portfolio outlines three off-market condo listings coming up for sale. One is a Victorian 2nd floor front-facing studio in the Back Bay currently leased through 8/31/17; $495,000. One is a newly constructed 2- bedroom 2-bathroom in a professionally managed midrise in the Aberdeen area. Currently leased until 8/31/17; $785,000. The last is an immaculate loft style 1-bedroom plus office space overlooking the Charles River in Watertown; $545,000.

PM me for more information.

@Jared Smith

No those are the same guys. They currently have a project in Fitchburg they're renovating and one they just finished in Ashburnham. Also the realtor they work with out there, Kelly O'Keefe is crazy knowledgeable. 

@Jared Smith See above

Hey Jared,

I haven't worked with them directly, but Reliable Property Management are wholesalers and flippers that work in the Fitchburg and Ashburnham area. You should get on their list. You can find them on Meetup.com and they also go to the Black Diamond meetings in Worcester and Waltham. I'm currently working on a flip in Fitchburg right now and these guys were great for information.

Let me know if you find anyone else working that area. Hope this helps.

Incredible!!! @Account Closed

You are who I want to be in a few years! If you don't mind me asking, how did you find your deals? Direct marketing? And how did you find your partners? I've been going to local real estate meetups and events, but none of the people I've met so far are investing on the scale that it sounds like you're headed to and your partners are at.

I'm a newer fellow investor with 3 doors currently, but our goal is 8 by the end of the year. Looking to pick up a 3-4 family in Cambridge / Somerville area currently. 

Welcome @Bryan Pham! Good Luck with your move! 

What area of Cambridge is your office in? Kendall Square, Central Square, etc...? Also how do you plan on getting to work? Car or public transportation? These are very important questions for determining where to invest. Even a 5 mile radius from the city can mean a 20 minute or more addition to your commute if you're using public transit and 40 minutes or more by car. I speak from experience. We owned a condo in Cambridge and sold it a couple of years ago to buy a multi-family. At the time we were priced out of a lot of areas around Cambridge so we purchased a place in Chelsea which only takes 15 min to get to work in Cambridge if you're driving at 11am and 8pm. (not the ideal times for most working people). During actual normal business hours it was 45 min commute one way. The ridiculous commute got to us and we just recently moved back to Cambridge with a plan to sell our Chelsea place. You want to be careful if your time is important to you and make sure you talk to people to understand the commute from where you're buying to where you work. A 5 minute commute here can turn into a 25 min commute during rush hour pretty easily. Happy to talk with you further and offer any assistance I can. As well as a fellow investor,  I'm also a licensed real estate agent and a registered architect. Hope this helpful.

@Joseph Sangimino

I hope someone has answered your question before now, but in case not, I thought I'd offer up some advice. A contractor is also capable of giving you an idea of what is load bearing, just to give you another option. An important thing to note when you're looking at this yourself is the direction of the floor joists are the roof rafters. Load bearing walls will be perpendicular to these. Some cities and towns will require a drawing from a structural engineer even for these simple items so just make sure you know what's needed where you're working. Most structural engineers can do this for a few hundred dollars. 

Hope this was somewhat helpful.