All Forum Posts by: Tim Donovan

 I messaged you!!

Hey Guys!

I have a great credit score, high downpayment, and great income. The reason I can't get traditional financing is I recently switched jobs

Please let me know of any seller financing deals in Boston/ South Shore Area!!

If you know a wholesaler please give them my contact information

Thanks!!!

Hi!

I'm 24 and have the downpayment and credit to get a pre approval. I found a property, but unfortunately I can't qualify for the offer I think would get accepted due to income. My mother generously offered to co-sign. I'm a little nervous about doing this. I know it would tie her credit up and add debt. My lender said I could refinance in 24 months. I don't want to not take action but I think it outs my mom at risk which I need to take into account.

The property is a 3 family, one 3 bedroom and two 1 bedrooms. One of the one bedrooms is rented. The house is move in ready.

My cousin brought up the other option of getting a condo for a lesser price

Thoughts?!

Thanks!!

I know an easy way is look for big companies moving into the area (Starbucks, Walmart)

I have been analyzing a deal a day for a while now (duplex or triplex). After I figure out if the deal will cash flow, or how to make it cash flow, I am not sure what to do after that. I do a search on neighborhood scout, but other than that I'm having some trouble. So many people I know have their own opinion of areas but its mostly generalized and they haven't lived there but heard a good or bad story. I don't want their personal opinions/preferences to effect a good deal I found, but sometimes they make a good point.

What kind of steps should I take to analyze a location?

What things should I look for?

Is there a book that you used to help?

Should I listen to people at all, or just the people who have lived there?

Thank you!

Thoughts in Rentometer?

Hi!

I'm new to the group and RE investing and have been trying to analyze a deal a day. I am having a lot of trouble with estimating interior rehab costs. I know it differs greatly based on location. Ill attach a picture of an example of a house in MA. I have the book Estimating Rehab Costs and will read it next after House Hacking. I have also thought about buying Home Depot DIY books. 

Is there anything else I should read?

Is there a percent that is used when estimating?

Thank you for the help!!

Stay Healthy

-Tim