All Forum Posts by: Taylor Thompson

Thanks, @Kyle R. and @Jody Schnurrenberger! 

The most detailed example I've found is from @J. Martin a couple of years ago, which resulted in $130 per unit (10% of rent).

This analysis was from a more expensive area and came out lower than mine in both % and %.  

Hi, I'm trying to decide whether to make my first offer on a 4-unit, and my cashflow analysis depends entirely on what I budget for monthly CapEx. My estimate shows around $800 in total CapEx, which amounts to 20-30% of monthly rent, depending on what renovations I make. This seems higher than the typical 5-15% "rule of thumb" people use, so I'd appreciate advice from someone more experienced to see if my attempt to be conservative is overestimating CapEx.

Here are some details on the property: 

• New England building, 3,000 square feet, built in early 1900s
•  4-Units: two 3BR/1B, to 1BR/1BA
• Property has had recent roof and heater replacement, but has had same tenants and little interior work done in 10 years; Class C property in Class B area 
• Total market rent today of $3300 per month; $4,100 after $80,000 in renovation
• I assume 10% repair cost before renovations, 5% after renovations 

Here's my CapEx Calculation (with Cashflow analysis on second tab). Can anyone spot any beginner mistakes that I'm making here? 

Thanks, @Jack Romano. I've looked at this, and it's a SFR currently zoned for multi-family. I then looked at the zoning codes governing multifamily zoning for each neighborhood district, which gives additional restrictions (e.g. lot size per unit, building offset, floor area ratio, usable yard space, etc.), and I think I understand what is allowed. How would you go about confirming that I'm not misunderstanding what's allowed "as of right?"

Hi everyone, I'm looking at buying a SFR in Boston that zoned for multiple units,. Do people have suggestions on how to confirm if it's possible to add additional units (either by converting a large SFR or by adding a backyard unit), and what can be done without needing a variance? Any specifics (i.e. recommendations of contractors, lawyers, or city officials to speak with) would be really useful. Thanks!

Can anyone suggest investor-friendly agents in Providence? I'm in Boston and am learning the Providence market and interested in buying a 3/4 unit this year.