All Forum Posts by: Thomas Hickey

It's tough to find a deleaded multifamily in the northeast. You will likely pay a premium for one

Armando Nieves Thanks for your response sent a pm.

Frank Sanchez Agreed never good to argue work was pre existing as it's date coded. The only way you could do that is if you had a stock pile of older plumbing and wiring that was date coded prior to your buying the building

The nature of real estate investing is often displacing people to improve the unit and rent for a higher price.

If you're selling these buildings in the near future you can run into problems if the building inspector is in there for other stuff, all plumbing and electric is date coded.

Kevin Williams` I've had them all and you can't beat the 7.3 Ford crew cab for all around usefulness

Andrew Johnson Thanks Andrew. Seems like it would be a bit of a stretch. If I could get in with 10% down it would be preferable on a 5-12 unit multi. I don't mind living in them as I do most of my own renovations, it's convenient.

I've been thinking of adding an annual 2% cost of living increase to new leases. Having raised a lot of people's rents over the years just be prepared for them to retaliate with a bunch of service requests that could eliminate any profit

Andrew Johnson Thanks for the reply. So you think if anyone, a local portfolio type bank would be the one to speak to?

The only way I would ever invest for "0" cash flow is if you do owner occupied multifamily and live for free. When you move out you'll make the profit of the unit you occupied