All Forum Posts by: Timothy Woodland

Thank you @Michael Fratalia. I appreciate the encouragement. I will definitely be looking for advice on how to suceed with this first project as I would like to set myself up to buy another one shortly after I am able to renovate all 3 of these units.

Any advice on what sources I should use to find quality tenants? Also, I've read that I should keep atleast 1/2 of the income of the rented properties for any maintenance costs, do you find this to be accurate? Right now with the two tenants paying altogether a total of $1,900, I will be paying $400/month to pay the monthly mortgage. Should I be putting more aside to account for the additional money I should need for maintenance?

Thank you in advance!

@Jeff Kehl TAW is (Tenant at Will). I plan to do a majority of the work myself as the work includes facelifting the kitchen and bathroom. The work I will need to contract out include re-finishing the hardwood floors and I would like to level the (already semi-flat) back yard and pave it with asphalt as there is currently no off-street parking but this will yield 3-4 spots. 

Hey Everybody,

My name is Tim and I recently financed my first multi-family in the Greater Boston area. It is a Triplex of which I will be living in one unit initially (while partially renovating to bring rent up to market). The other 2 units are TAW and will be staying for the time being, however, my goal is to renovate one unit then rent it out, and move to the next renovate it then rent it out until all units are can be rented at top comparable market rents.

 I am on BiggerPockets hoping for advice from local multi family investors as to what will lead me on the right path for this investment and future investments. 

Thank you and I look forward to connecting with you on a greater level!

Thank you @Jordan Grimstad. That was extremely thorough and I will be using this as a template to analyze this deal that I have in mind. 

Thanks again

Very Messy! Trying to clean up and yes I left the rent out on purpose.

I am on the verge of purchasing a piece of land in my area. I'm trying to find out what type of build will yield the most profit. i.e building a large single family home versus building a multi family. It is zoned for both.

I'm from Massachusetts and looking to purchase my first investment property. I've been doing research on public land records and was wondering what the best way to find properties that could be purchased at a discount. I'm able to find documents that have been sent to properties such as order of notice etc. What types of documents form the bank to the lender should I look for that would indicate that the home owner may entertain an offer before considering listing it on the MLS?

Thank you in advance!