All Forum Posts by: Victor Eng

Max Shepherdson You'll often find that economics on those areas are great on paper but getting a good tenant is extremely difficult. When buying a property like that it's always good to ask yourself, if the returns are really that good, why is the seller selling? I always assume increased vacancies, delinquencies and repair costs on sub par properties and back into an implied offer price for my desired return. More often that not the price that you end up arriving at is at discount to even the list price. That's the scrutiny you need to give a property though. But to your original question, once a property is less than 25% of comps in the area assuming similar quality, that's when I get cautious.

@Aaron Montague I missed that meeting in Reading yesterday, but I work super close to the area. What is that group called and do they meet regularly in the same spot?

Paul Timmins what makes those rental markets good? How are vacancies in that Area if you don't mind sharing? Typical rents for a MF 3 bdrm? Thanks for the replies all.

BP Community -

What resources do you use for deal analysis? I personally use Excel for the numbers aspect and various other factors for the qualitative part. 

BP Community -

Just want to pick your brains on what's been working in the Massachusetts area in terms of MFR. Worcester is generally my go-to but it has been over saturated in terms of rentals as of late.

Victor

@Jared K. Have you invested in a region / property as you mentioned? Don't mean to call you out on anything, but where would that be?

I am a fan if this if you have the capital to make it work. Assuming its a prime RE area, your 20 down probably is going to be pretty hefty. Agree with the investment thesis though. Lower maintenance requirements.

Surprised to see that the ARV is not close to the sale value you expect.

Tony Great investment in the condo initially. Anyways if I were in your shoes, I'd probably refi and use the untaxed proceeds to acquire new ones. Rent the condo out and do the math to see if it covers the new mortgage. It probably would.

@Mike Hurney Thanks for the warm welcome! Great advice!