All Forum Posts by: Stuart Gardner

Greetings BP community,

I recently went to a BP meetup and got talking about asset protection and entity structure.

Now apart from consulting with a lawyer or CPA, does anyone have any recommended books or web sources that would help me understand how LLC's and Trust work and what you need to do to operate them correctly?

Thanks,

Stuart

We drive and take the MBTA, and sometimes the MBTA is faster than driving. It all really depends on where you’re going and at what time. Not sure what you’re experience has been like so far, but before this purchase, we lived 2 or so miles away from work and during winter it could take upwards of an hour to get there and back by bus. Travel time was one of our biggest concerns as well, going from being very close to not, but honestly it hasn’t been all that bad. Crushed several audio books. Lol As for tenant, we got lucky. The family that was in the unit before wanted to stay. So we told them our requirement and rent cost, as they were paying way below market, and they met it all.

Hi @Elena C.

Welcome to BP. My wife and I just purchased our first multi-family in Malden just off the orange line. I would suggest maybe taking a look over there as prices are lower, but still acceptable by the MBTA.

I don't have as much experience as many others, but if you would like to connect, PM me. I am located at HBS. Also take a look at this  meet up at Assembly Row to connect with others in the area.

@Rob L. great thank you.

Look forward to making the next meet up.

@James E. not going to make it tonight, but hopefully, there will be more meet up in the area in the near future.

@Christopher Veljkovic I agree with @Justin Fraser. Based on the numbers you have listed, it doesn't look like it's going to work. If you are able to provide a more in-depth breakdown of the numbers, I would be happy to look at them as a second opinion.

@Charlie MacPherson Thank you for the advice, and we have taken an online version of the landlord training, but the in-person NWSOMA program may be worth looking into. 

Greetings BP Community,

My wife and I are preparing to become landlords in the near future, however, we are wondering whether it is better to write our own lease and have a lawyer look over it, or should we just use what seems to be the generic Boston Lease and addon our own addendum. 

We know that going to the lawyer with a custom lease will cost more, but is it better to have it from the get-go?

As always, any advice, insights, and thoughts are greatly appreciated.

Best, Stuart

Greetings BP Community,

We are currently closing on our first 2-unit property in MA, with the intention of house hacking the one and renting out the other. After the home inspection, we found out that the current systems in the property are really old and new ones are needed almost immediately. This includes both the forced air furnaces and one of the water boilers. 

Thus my question is, where do you draw the line in how far you upgrade? 

Do we simply just replace the systems with mid-range products, or do we install high-efficiency systems that will cost more upfront, but lower utility consumption and last longer.

Also, is the ROI on AC worth it for a rental unit?

Any insight will be greatly appreciated.

Thank you,

Stuart