All Forum Posts by: Samantha Hiscock

there was a Facebook group created recently.. Vermont Area Real Estate Investors. 

We have our fair share of undesirables, but you can usually weed them out with proper screening! There is a significant amount of drug activity here as well. There are a few areas to avoid, but most of it is just fine.

I've got 7 units in Barre and my vacancies are short and infrequent. Alot of my tenants are subsidized, but FMR is fairly decent. Flood insurance bites into my profits, and the city housing inspector is a jerk, but other than that it's a solid investment here.

Tom, how much success have you had collecting the judgements? I've only ever had 1 eviction in 8 years and only 2 tenants that have ever owed me money, but I am getting ready to file an eviction on Monday. What process do you use to enforce the judgements? A collection agency or wage garnishment or something? I dont want to let this tenant get away with not paying me.

Driving around is certainly a good idea. If there are a few properties you want to take a look at just let me know and I will set that up and show you some of the more desirable areas. Realistically though, about 2/3 of my tenants are on subsidy which means that even in an icky area, I still get the same FMR as long as the property passes inspection.

Even the nicest property in the greatest location can easily be a nightmare if the tenant is awful. Screening is key. But the cashflow here is some of the best in the state. 

I grew up in Randolph, but have lived in Barre for almost a decade so I know this entire area pretty well. I am always available for questions about specific areas. Cashflow is definitely huge around here.. and alot of properties are under market rent. HUD FMR for a 2 bedroom is $1057 and is $1315 for 3 bedrooms. I usually dont have problems with tenants, you just have to screen them like you would anywhere.

There is a winter parking ban in effect for about 6 months of the year and many of the properties are on very small lots. Downtown many of the apartment buildings only have 1 or 2 spaces at most. Once you get out of the immediate downtown area you have more parking and properties are much more desirable overall. A dedicated spot per unit is definitely a nice feature for tenants with a vehicle, as most people have to drive to a job.

There are definitely a few areas to avoid, but most really aren't so bad. A quick visual of the neighborhood will give you an idea of what to avoid, some are just streets of blighted properties. The individual property condition tends to dictate the quality of tenant more than the area. Parking here is crucial- if you've got of street you can usually command a higher quality tenant and one with a J-O-B. Employed tenants are my favorite!

The Barre area definitely has cashflowing properties on the market. I've got 7 units in town and clear about $250 per door. If distance is an issue there are some great property management companies in the area. I've got my real estate license, let me know if there are any that you want the listings/docs for and I can send them your way. 

Contact Josh Bennett of Title Mortgage Solultions in the Lebanon/Hanover area. I'm a real estate agent and he has closed multiple FHA loans for me. You can definitely use it for 4 units, I have done it personally.