All Forum Posts by: Ricky Beliveau

Hi man,

Shoot me a DM. 

Thanks!

Ricky

Thanks @Seth Williams! @Bruno C. the actually conversion process is all handled by architects and attorneys. They workout the process of submitting the proper documents. Happy to discuss opportunities in Boston 

@Patrick Wheeler rough estimate is 50% but all new plumbing and electrical will trigger a sprinkler system from my experience. I have been renovating 3 family properties in Boston since 2010. You can sneak by when its just cosmetic with paint, kitchens and bathrooms but what you are doing is over that line in my opinion. With all the fires in and around Boston lately they are very strict on the sprinkler requirement. 

@Patrick Wheeler be careful. The renovation you are planning will will be at a level that will require you to sprinkler the building. All 3 family buildings in Boston that are renovated more than just cosmetically are required to be sprinklered.  The cost is around $18-20K. Who will be submitting for your permit? With the amount you are doing you will be required to submit for a long form permit. Turn around time is around 45-60 days right now from ISD.

Good Luck! What is the term on your hard money loan? I assume your exit plan is to refinance into a conventional loan upon the completion of the project? 

Hi @Zachary Tesler,

Tons of different opportunities. Shoot me a message if you would like to setup a time to chat.

Ricky 

@Mark D. I have a condo conversion project that will be completed in March and will need photos. If you still looking then please reach out.

@Joe Parrish or someone in his office can find you something

@Je C. purchase prices for 3 family around $200k and I am aim for purchases with cap rates around 12

@Je C. Federal Hill based on purchase prices and cap rates. What are you seeing in other areas?