All Forum Posts by: Avery Heilbron

@Mohsin Mazhar Everett and Chelsea are in your price range and are rapidly becoming more valuable

@Tim Upton I know this is late to the thread, but I am going through this now in my two family. I am only doing one unit as it is 4 bedrooms and has higher pool of applicants with young children. The inspection cost was $305 and I've received one quote for deleading for $900. I do, however, only have 2 attic bedrooms that have baseboard areas with lead paint, the back and entry staircase as well as some lead paint on the exterior of the building, so it is not a lot. After that is done a final inspection is required before receiving my certificate which I'm guessing costs the same as the inital inspection.

@Tyler L. It sounds like you're much further ahead than I was when I graduated college in May. I was able to get financing in the Boston area with my entry level salary to find a deal. 

It seems like you may be going at this in a bit of a complicated way. If you and your partner are both planning to live in the same househack this will help your preapproval a great deal. As long as both of you live there you can still get a low money down loan. This should be a simple and effective way for you to start as long as you have the details of your partnership laid out.

@Dylan Rowan Doing a quick search and looking at multifamily prices in the area your 38K income should be enough to get you somewhere. A lender will take 75% of the rental income and add that to your approval which would strengthen your borrowing power. Get in touch with a lender and they will help you determine what you qualify for!

Hi BP,

I am looking for a contractor or someone to help me out with some cosmetic upgrades in a 2 family in Everett, MA. I am looking to do laminate floor installation and kitchen countertop installation. Does anyone have any recommendations?

@Chris Maurice You would be able to move out after a year as well as lose the PMI once you've got 20% equity in the property

@Bryan Clewley Welcome to BP!

Welcome!! @Joseph Alie

@Clifford Paul That is a solid point. I have been looking for supplemental income, but I will try harder to find something else

@Lien Vuong Thanks for the note.  I will send you a message

@Joe Splitrock I am not feeling discouraged, but I appreciate your sentiment. I appreciate your recommendations and will take heed of your advice.

@Matt P. Thank you for the note. I think the only worry here is that the down payment is still not insignificant and in a year a good chunk of change will have been put into the SFR

@Will Gates best of luck to you in your search!