Hi Everyone,I’m investing in an essentially turnkey (it was a flip) MFH in Woonsocket, RI and wanted to get your take from anyone who has experience in the city.I know the city has a bit of a reputation, but it’s in the Fairmount neighborhood that tends to be quite good.

Now if there is truly a value add element to the property, the ultimate value (price) is in the eye of the beholder (buyer).

Essentially are you cash flow positive or negative each month?

The rates vary throughout the State because of the different millage rates and tax districts, but in Richland County for instance, the taxes essentially triple once it goes from legal resident to non legal residence. 

@India H.When you're diving into real estate investing, especially through auctions, it's essential to have your financing and structure in place.

Essentially gamifying the learning of real estate jargon, terms, laws, etc!

Traditionally, these would be a door and a window.Minimum ceiling height: At least half of the bedroom ceiling has to be at least 7 feet tall.Minimum window size: The window opening must be a minimum size, usually 5.7 square feet.A heating and cooling element: A heater (space heaters won't qualify) as well as a way to cool it down, whether that's by opening a window or AC.

Built in a factory the quality is often better and cheaper than stick building out in the elements.

I Joined Jeromes Buying land and building homes program back in 2019Heres my opinion on my experience....First and foremost He offers two different programs. a 6 month program and a 12 month program.BOTH PROGRAMS ARE EXACTLY IDENTICAL THE ONLY DIFFERENCE IS:You can choose to have the weekly mentoring by Jerome once a week for 6 months or 12 months on a zoom call and you can have access to a private networking group of real estate professionals whether that be (realtors, contractors, brokers, Private/Hard money lenders, loaning institutions, Surveyors, Engineers, Zoning Board members in different municipalities, pretty much anyone you would need to get a project completed) for either 6 months or 12 months.6 month program will run you $5,997 if you decide to pay all at onceor you can make a $2,300 payment every 2 months totaling $6,90012 month program will run you $9,997 if you decide to pay all at onceor you can make a $3,000 payment every 3 months totaling $12,000I decided to join the one year program and chose the payment option as i figured within 6-8 months i would have my 1st project completed therefor my last two payments would essentially be covered by the return on investment from that project.PROS:The group is really a family oriented space where you meet a vast variety of people from all types of background throughout the country and other countries that are doing business just like you.

State average homeowners insurance rates indicate the risk of natural disasters.Information Sources for Data-Driven Decision MakingUtilize these resources to gather the necessary data for your city selection process:Population Size and Growth: Wikipedia's Metropolitan Statistical Area pageAppreciation Rates by Zip Code: Zillow ResearchCrime Rate: Avoid investing in cities on this list.Comparative Homeowners Insurance: ValuePenguinProperty Taxes: LendingTree (as an indicator of overall operating costs)The Importance of Local ExpertiseWhile research and data are essential, remember that general knowledge only goes so far.