All Forum Posts by: Sean Connolly

I own a 3 Family property. On 1.4acres, there is one Duplex ( 2 1BR, 1BA) and a single family ( 3BR, 1BA) I bought the property for 315K. I have 305K left. I have seriously been considering subdividing the two houses. They currently share a well and septic. Both well and septic are on the duplex side, so I will have to put the new ones on the single family. The single family and one of the duplex units also share a driveway.

I was thinking, Put a new septic (15-20K), new well ( 5-10K) and redo driveway (10k???)

Unsure how much the subdividing process costs, but curious if it is worth it.

A Duplex can go anywhere from 270-300K, and a single family can go for 230-270.

Any opinions??

The only reason I live Massachusetts is because I was born here and have family here. Taxes, Politics, and Weather is terrible. Considering a move to Florida, Colorado, or the Carolinas myself. The only problem is my career field frowns upon moving around alot. But the chance of moving someplace nicer is outweighing having a nice comfortable job at this point. 

It is in the lease agreement that landlord takes care of driveway. I have a Tenant at will agreement. I was wondering if I can change it to say "Landlord has no responsibility for snow removal". I will still most likely do it because it is my driveway as well.

And would that be the best way to handle it if I were to move out and rent the SFR out as well. Then there would be two tenants sharing the same driveway. How do most people handle that when dealing with shared driveways in rentals?

Hello all, 

I have a specific question about snow removal in massachusetts.

I own a SFR and the duplex next door. I live in the SFR and rent the duplex. I share a driveway with one side of the duplex. The other side of duplex has its own driveway and takes care of snow removal. Am I responsible for the snow removal of the shared driveway?

My reason is, I work for the fire department and the last two big storms I have been stuck at work for 48hrs, so I, personally, was not able to shovel. The first storm (blizzard) I had it plowed, and my girlfriend cleaned up the remaining. The second storm my girlfriend shoveled it all herself. Both storms my tenants had off from work and did not even attempt to help. He even came outside, got something out of his car, and went back inside, while she was shoveling and did not even thank her. This just seems disrespectful, and shows lack of character on his part, in my opinion. Sorry for the rant. Enjoy your day!

Hey guys,

I chose not to go for my realtor license, atleast for the time being. Had my hands full with life, and making income in other ways. But still consider it for the future. Thanks for all the insight.

This was absolutely great to read. Makes me feel good that I'm not the only one who is cheap! This time last year I was blowing every paycheck I had on going out every night and vacationing all the time, while living at home. The main reason I got into real estate was because my friends went to Australia for a month and I chose to go to New Hampshire for the weekend instead. During that month, I saved a few thousand dollars by not going out every night. It became addicting. And within a few months, I had enough to put a down-payment on a house. Bought a 3-family. Living in one, kept the old owners furniture for free, no cable, and choose to spend my time working, reading and working out; instead of going out every night. I still go out occasionally, and vacation a few times a year. I found a happy balance of my time, while still saving a considerable amount every paycheck. Cheers to being frugal and happy!

A gift, gift card, or something along those lines would be nice. I feel like reduced rent for a short duration would just be more paperwork needed. Keep it simple.

Welcome Kyle! I just started out this year, and I'm in my early 20's as well. I would say, first off, try to find which real estate niche suites you the best personally. There are many great options

http://www.biggerpockets.com/files/user/brandonatb...

That link is definately a good start. Good luck to you!

Have been stuck between refinancing my current 3 family, which I reside in, or buying another 3 family which I can cash flow with. Currently, my mortgage is 2200 a month, 344 of which is PMI, which I have for the life of the loan. Would it be better to refinance and rid myself of the PMI, plus maybe a little less with P&I a month, or do I purchase a sound 3 family where I make money on. I kind of know what I should do, just looking for some more opinions. Thank you.

Thank you Paul. I originally got into real estate to flip houses, but struck a good deal on a 3 family in my own town. My big concern on flipping is upfront cash. Not to say that I can't save, but I don't have much for a flip.