All Forum Posts by: Sherwin Vargas

I own 2 multis and a small business, have the opportunity to buy another multi in 4 months but I hate the area and truly believe I'll be happier living in a different state, community. I been thinking of moving across the us to the Midwest or west coast but am afraid to start all over. Have you started all over how did it go what's your experience. 

 That was the plan to have it under the window.  but then the sink would have been way too close to the stove... Would have ended up being only like 18 inches away from stove and it looked weird. We also didnt want to cover up windows or move windows

Sq ft about 900 

Yard small but Decent size

Dishwasher yes

Laundry- machine use available in basement -free 

1st and 2nd are not as updated and also i live in 1 unit and my cousins family in the other $900 each. 

Our other multifamily no unit is as updated. 

Worth trying. Ill repost with professional pictures and bonus incentives listing positives once the heat is in. If anything lower price after a week and a half or so.

Thanks for all your inputs

cost is 100 for providence car registration or 200 for registration from anywhere else from what i researched. 

awesome thanks, exacly what i was looking for. 

Shooting for april 1st based on the quotes for the heat  but thats why i took it down. My luck with contractors hasnt been the best. 

1st and 2nd floors in the area asking 1100 and 1000, they are alittle dated and didn't include laundry or the 1 yr paid street parking permit.

I had the apartment posted for about a week at that price got 5 calls 2 actually show up 0 applications. Took it down to wait and see when heat will be completed.

How long should i wait before lowering price? Should i lower now and how low?. 

i have a 3bd room apartment about 900 sq ft 3rd floor in the silver lake area in providence ri near cumerford st and wallace st cross. 

Half apartment completely redone w new windows other half painted and cleaned up with new floors. 

Trying to figure out what to charge for rent. 

We were thinking 1200 no utilities with a laundry included in basement and we pay for a 1 year street parking permit ( i dont want to clog up the driving since im living in this multi ). Heat will be forced hot air or baseboards( finalizing quotes this week. Not sure if it would effect rental prices much). 

I sort of feel like its too high and i won't find a renter what do you guys think? What should i charge? 

Thanks for any help. 

--posted one pic of bedroom painted, posted one not done yet still finishing up work -- 

thank you! 

Feel everybody thinks I am advocating for gurus. 

I am not!!! Haha just recieved some good information the first time and thought about going to the free events again haha 

ive called a few none reliable or just way too expensive... I got some recommendations that you though 

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Providence.

Purchase price: $251,000
Cash invested: $5,000

home prices rising but loved the multi, using as primary residence, cash invested low due to state aid. needs updating. Cashflow not as high as i would like

What made you interested in investing in this type of deal?

Looking at buy and hold for the future. Moved into one of the units. So had a time constrsint to move when bought

How did you find this deal and how did you negotiate it?

Real estate agent general market. We wanted to use the state aid to have our downpayment as minimal as possible

How did you finance this deal?

7k down i believe 7.5k state aid .. .. Regular mortgage at 4.5%

How did you add value to the deal?

Some type of renovations to all 2 floors. Total renovation costs 40k. First renovation project definately made alot of mistskes.

What was the outcome?

Apartment almost done spent 5 to 6 k extra.

Lessons learned? Challenges?

Hard to find good contractors.
Do not split up work to help undeserving people.
Do not be 'nice'
Do not pay after thorough inspection