All Forum Posts by: Anthony Simboli

Hey BP!

So I’ve been challenged with finding a good, quality, RESPONSIVE, contractor. I well understand the high demand for work right now however I was hoping you all would have strategies (NH especially) for getting in contact with some. I have a few projects I’m looking to get bids on (i.e. rebuild carports, ceiling replacements etc).

In addition to just getting bids, I'm also looking to form relationships with these contractors as I continue my BRRR journey in NH. As much as I'd love this work done ASAP I'm ok with better quality and waiting.

Would love to hear ideas/suggestions/references etc!

Thanks!

Thank you all! Appreciate all of the feedback so far. Just a few updates, unfortunately they cannot get gas lines to my property at this point, and even if they could they mentioned the cost which is not worth the switch.

I believe I’m going to hold off for now. No one told me the system was bad, I just know it’s older so it was more a proactive approach if anything before doing some remodeling and such. It is hot water not forced air. So I’ll likely keep as is for now. Thanks!

@Joe Splitrock Thanks for the information. I'm going to look into the costs of getting the natural gas (if possible). I assume the expenses will be high to run the gas lines to the house, if the gas is even in the area I'll be living.

Appreciate all of your help

@Joe Splitrock thanks Joe! Appreciate the advice. I just get concerned I was 0-2 on furnaces in my last properties. Maybe just bad lucky and timing.

I agree with the natural gas but my concern is the potential cost to get everything setup, and like I said I’m waiting to hear back from the city to see if it’s even a possibility and then I’ll have to try and figure out the costs involved.

Thank you

Hey BP,

I am about 2 weeks away from closing on another property (2 family duplex!). Like my other properties I seem to always find the ones with only 1 furnace. The age of the system is unknown but having some experience replacing them in the past I know it's towards end of life. It is currently a oil forced water burner with 1 oil tank. 

My question to you all is:

1. Should I replace with 1 unit (a stronger and more efficient system) and keep the zones for both units?

2. Should I replace and add a 2nd furnace (2 new systems)

3. (side question) if possible, I'm working with the city right now (Manchester NH) to determine if natural gas is an option and how much that would cost. Has anyone considered the switch and was it worth it?

I'll be living in one unit for about 2-3 years most likely while I rent the 2nd unit. Then the plan currently is to rent both units.

Any information would be great. Furnaces always seem to be my kryptonite so I'm trying to jump on it early before I even move in or rent to tenants.

Thanks!

Hey BP!

I've had some challenges the past few months in search of my next property. I'm looking for an owner occupy multi family. I've now lost to cash each time all while being as aggressive as I can be that still makes sense. Any helpful tips to make my offer more attractive. I've copied a list of things my agent and I have tried.

Thank you

• Waived Inspections
• Escalation Clauses
• Money towards a difference in offer price and appraisal (i.e. if it appraises too low, I will pay out of pocket to cover)
• Offering to pay for up to "X" amount of money for potential things found wrong during an inspection
• Wrote letters to the sellers

*One offer I lost I offered $42k more than what the house closed for but they had cash where as I needed my financing (I also had waived an inspection). 

@Lamont Chen makes sense. Appreciate your help!

@Lamont Chen Thanks for the response! I need to double check with my agent in regards to the town allowing this. He did not mention needing a variance but I assume this is something I can get in writing from the town or the seller prior to an offer? 

I like what you mentioned about potentially subdividing and getting pre approved build plans. That's what my agent said too when he brought me the opportunity. It sounds great, but like anything I always want to try and do as much homework as possible to make the best decision. Appreciate you help!

Hey BP - looking for anyone to share personal experiences about purchasing a BRRRR property with 20+ (or many) acres of land. I have no experience subdividing land so that's mainly what I'm trying to learn here. A brief description of the opportunity is below. Feel free to ask further questions if needed.

Large single family home with 2nd approved structure that is currently rented (essentially 2 family). Needs renovations but livable (I will be owner occupying and renovating myself as I also need a place to live right now). Rent numbers would certainly not make any of the 1% type rules work, HOWEVER!, there is 22 acres of land that can be subdivided. How would one factor in the potential benefits of that land offsetting the high purchase price? I'm pretty confident in traditional BRRRR calculations but this opportunity could be very unique if I can understand the subdividing potential.

Thanks all!

@Sarah Brown thank you. I'll be in contact with my lender as I continue to sift through some more properties. Appreciate the help