All Forum Posts by: Rich Thomas

Hello all, I am currently a part time investor with a couple of multi family homes in my town that I self manage...I am interested in scalling up in get into the commercial side with something that has 9+ units under one roof. I am currently looking at a small apartment complex in the Bristol Ct area with 21 units....can anyone on here provide any info on the bristol area? I have never been and dont know anything about the area. I live approx 2 hours away just north of boston. What are some of my challenges in buying long distance property? Obviously I will need to hire a property management company to run the property...what is the usual percentage that a good PM company charges ? Any and all info is appreciated! Thanks Rich

Hello all, I am currently a part time investor with a couple of multi family homes in my town that I self manage...I am interested in scalling up in get into the commercial side with something that has 9+ units under one roof. I am currently looking at a small apartment complex in the Bristol Ct area with 21 units....can anyone on here provide any info on the bristol area? I have never been and dont know anything about the area. I live approx 2 hours away just north of boston. What are some of my challenges in buying long distance property? Obviously I will need to hire a property management company to run the property...what is the usual percentage that a good PM company charges ? Any and all info is appreciated! Thanks Rich

Just finished a 1 bedroom unit with vinyl plank from home depot...easy to install, looks awesome and very durable. I would highly recommend going with the vinyl planks...

Thanks Jd Martin , that makes sense because every other year that Ive had losses it was always taken from the sched E and taken away from my gross. I read a thread on here saying that your positive cash flow is taxed seperately at your tax rate...didnt make any sense to me...

Hello, Im going to be in a situation this coming year of having a positive cash flow from my rental properties and had a question im hoping can be answered on here... Will my positive cash flow from rental property be taxed seperately (my tax bracket) or simply added on to my yearly adjusted gross income and then taxed? I do an itemized tax return and have a regular w2 yearly income also.... Thanks for any help!

Hello All, 

I am in the process of buying a 3 family home in salem Ma . The property is located in an AE flood zone and I am aware that it will require flood insurance. Anybody out there know of any private companies that provide insurance for such? The only quote I got was for $3,250/ per year..

thanks!

hello all, 

I'm somewhat of a newbie in the field. I have owned and run a 2 family home for 6 years. I am currently in the process of selling the 2 family in the hopes of upgrading to something larger with a 1031 like exchange, possibly commercial property with 6+ units. I'm finding it very hard and sort of frustrating trying to find a solid investment property in my area (Salem, ma). Although the area has very strong rental income, the properties are hard to come by. 

I would like to get some feedback and thoughts on looking statewide or even in the New England area for a property? I realize that if it were far enough I would have to hire a management company etc. there seems to be so many more options for much less in a 2-3 hour driving range. 

Thanks for your help

Rich