All Forum Posts by: Thomas Quinn

Like was said already very common on multifamily property with tenants sometimes if there is a empty unit they will show that one for a first showing.

How much do buildable lots sell for? Would you be able to sell the 4 lots seprate and make a profit?

The mortgage term would just be what fits your goal paying it off faster or getting a higher cash flow. You could go for higher cash flow while buying then when you have a few properties start paying them down.

You should be ok with you estimate on closing costs.

The numbers look ok to me with the 25% down have you checked for comps for the sale price yet? If you need help with comps let me know the town and I can see what I find. As always you have to check for deferred maintenance.

Just a quick look at houses sold in the last 3 months and whats on the market now I would say you would be looking at a arv of 215-230 not a town I will say I am an expert in.

You didn't mention it but it looks like some areas are town water/sewer but some are septic.

For some properties with newly redone floors and nice yards I can see not allowing pets but for the right property that you are planning to redo after the next tenants or the right type of floors that don't get damaged easily I think its a chance to charge a little more than market. This is coming from being a Real estate agent who has spent the past week trying to help a couple with a dog find a rental they would happily pay a extra $50 maybe $100 for being able to bring their dog.

If you look at the condos in Somerville they are selling fast so people are probably buying up all the multi-familys to convert they can usually pay more than it would be worth as a rental.

Towards Worcester you will usually find properties that can cash-flow but the numbers you see 50% and 2% are rare in most parts of Mass.

Hi I atcually signed up awhile ago but never made a post. I am a Realtor I work for a local real estate office Mendon Area Real Estate. I hope to start investing in properties most likely rentals in the next couple years.