All Forum Posts by: Taylor Lydon

@Andrew S. thanks for the suggestion.  Just to confirm - So you post your rentals on Facebook Marketplace and that where you are getting most of your tenants?

@Allison B. thanks for the suggestions, I will definitely check out both of those sites.  I had a couple interested in renting short term (3mo) which might work well until things normalize.  Thanks again!

@Gennaro Coscia thanks for the advice.  You are spot on regarding the rent/mortgage payments schedule.  I will definitely keep that in mind.

Hi All,

After years of following BP, I finally pulled the trigger and bought a duplex that I was planning to house hack.  The sellers agreed to rent the unit they were living in through May of this year, at which point they will move out and my family will move in.  The 2nd unit is vacant and available to rent immediately...the only problem is that we closed on 3/10 right before everything hit the fan.  Michigan is now in lock-down and the number of actively searching renters has dropped significantly.  I would move into the vacant unit, but I am stuck in Mass on state lock-down waiting to sell my house.

Does anyone have any advice on how to entice renters or out-of-the-box ideas on where to find renters?  I am having a virtual tour recorded tomorrow.  I am also considering either lowering the rental price (below market), offering incentive (pay for some of move), and/or considering allowing pets.  Any other ideas would be hugely appreciated.

Thanks, stay well,

Taylor

Hi Daniel - I live in Weymouth and its starting to get very competitive/expensive.  I have started looking south of Weymouth towards Rockland, Abington, Norwell, Pembroke, Hull, Hanover.  I would suggest checking out the commuter rail lines that run down the inner/outer parts of the South Shore.  Most of these towns have fairly easy access to the city making them good rental property options, in my opinion.

Does anyone have any suggestions on where to find 1% rule for buy and hold multi-family (1-4 unit) investment properties in Massachusetts?  I prefer to stay away from lower quality units, neighborhoods, and towns.  I have focused my search mostly south of Boston, but tough to find turnkey properties that meet the 1% rule.  Thanks for any thoughts.

Thanks @Justin Silverio I will definitely check out your upcoming event.  

Thanks @Drew Markert!

Thanks for the suggestions @Ozzy Sirimsi, you are absolutely right about that!

Hi @Robbie Reutzel - thanks for the welcome and the suggestions.  I am definitely familiar Black Diamond meet-ups, but have not attended them as of yet.  I will look into their next meetings right now!

Thanks Again!