All Forum Posts by: Rich Thomas

Hey David Besins congrats on moving up to a larger property. Boston is a solid area for investment property if you can pull it off. Just glancing over your numbers it seems like you have a pretty good deal with a solid asset. I dont know exactly what part of boston the asset is in but it seems like you have put plenty of cushion in your estimated costs and you are still getting a decent return, cant beat that. Goodluck!

Hey Manik Zaman I noticed we are in the same area of investing. Im not currently looking for that many units but hope to be soon. Do you currently own rentals in the area ? Id be interested in talking if you are looking to sell smaller assets. Thanks

Brian Ortins

Brian Ortins do you currently have off market multis for sale in the northshore area ? I would be interested in speaking with you. Please shoot me a personal message on here when you have a moment. Thanks.

Hello, I recieved an email today from one of my tenants saying... “My daughter's father in law recently asked me if I had your social security number for tax purposes since his construction company wrote you the security deposit check for the apartment.He needs to send you a 1099 form.” Is this correct? Ive never gotten a 1099 before for a security deposit as i thought it was not considered income because its held in an escrow account... Nevermind the fact that I dont want to give my social security number out to a tenant and someone I dont even know.. Anyone who could help give some insight and how I should reply to this tenant would be appreciated!

Hey Jim Mitchell thanks for all the helpful info on this. Im currently looking into buying a rental in the north conway area. I would love to have somethig that I can rent out as well as use for family vacations for a couple weeks out of the year. Do you have a hard time keeping your property rented during the spring/ summer months ? I would def need to hire a property managemnt company as I live on the northshore of mass... Thanks!

Thank you all very much for this information. I didnt really know if I could just come out and ask her how much her monthly disability was or not? Obviously I will need to know in order to make sure she can make the monthly rent payments. She has assured me that hers is a lifetime disability I guess the only way of knowing for sure would be to see some type of paperwork for it.

Hello, I currently have a rental unit that I am trying to fill and have a few different applications. I have a woman who applied for the apartment whose only source of income is SSI Disability from the government...does anyone else have renters whose income is from SSI disability every month? My only concern is if this income stops for some reason and she no longer has any way to pay the rent...she has told me that her SSI disability is for the rest of her life and it will not stop...

Justin Repp could you send me the details on 4 fam in salem?

Hi Jason G. & Natalie Kolodij thank you for the replies. So the two different properties are both in my name. I use bank of america and have a seperate 1 seperate checking account for both of the properties. However, I only have one personal credit card from bank of america which I use for both personal and investment proerty purchases. Personally Id like to NOT have another credit card but I would do it if needed. I just wasnt sure if say for example I made a purchase at home depot on the bank of america CC for $137.87....Do I need to pay that exact amount towards the card from my rental property account ? Alot of times I would just pay $130 or $135 towards the purchase instead of doing the exact amount. However I do take that Reciept and label it for the appropriate property and save it...if its all in my personal name and finances it should really matter correct?