What are your best practices and advice when flipping in Boston?
Greetings Bigger Pockets Community!
Along with my business partner, I've been doing flips in Central, MA for the better part of a decade. We've learned lots of the building codes, regulations, rent and valuation prices and lots of management skills along the way.
Recently a property in Downtown Boston came up on your radar (1st floor commercial, 2nd-5th residential) and it's a larger project than we've worked on before. It's also in the very high density Back Bay neighborhood and we just wanted to pick peoples' brains about what to look out for and what regulations or best practices would be best to utilize.
Your response can be from any angle such as working with contractors, finding rental comps and tenants, Boston-specific building codes, etc. Basically we just wanted to tap some knowledge on here about what to look out for and how to add value in this condo slash commercial buildout.
For example, one specific question that came up was about sprinkler systems and when they are necessary. But overall, we wanted to get an impression from you guys about what we "don't know that we don't know" in this particular market expansion.
Thanks!
Hovig