All Forum Posts by: Alexander Zurn

I am in Newport and would be interested in attending! Sounds great.

@Fan Bi I have been looking in the Providence area where, yes prices are definitely lower and the market has been on the rise, AND it has seen substantial growth in the past 3 years with SFR's raising between 12%-20% and MFR's raising between 15%-25%!! But the neighborhoods are a problem in Providence. A lot of class C neighborhoods, which is fine! But if you're looking to escape that coming to Providence it will be difficult. Another consideration is property taxes. Providence has some harsh taxes right now at upwards of $2200 (educated guestimate) and from the looks of recent studies they are likely to go up.

But hey! Do some investigating of your own, it's a ton of fun trying to find that right deal especially when you can find a 2-4 unit for under $100k. It's definitely worth a gander!

Side note: I have no knowledge on New Hampshire haha

@Pearline DiBiasio welcome! I live in RI too. I am about a month or two into my real estate empire (which doesn't exist yet). Everything you've heard beentold so far is correct. Yup, check out everything this site has to offer. Read the beginners guide, very informative and efficient. Then continue to read, read, read. Check out the Rhode Island Real Estate Investing Group, meets every 3rd Thursday of the month (great for networking) (www.rireig.com) Let me know if you have any questions.

@Jonathan Z. there is a RIREIG (Rhode Island Real Estate Investing Group) in Providence on every 3rd Thursday of the month. Great for networking, asking questions, speakers vary month to month. I live down in Newport and am looking to invest into Providence myself. Keep researching and educating yourself with tools on this site. Sorry I cannot be of help to your direct question on the rental market but rest assured there will be someone. Good luck!

@Greer Hunter welcome! I was born and raised in Montgomery County, just outside of DC and I live in Newport RI now. The market up here is tough to get in on, early that is. I would suggest reading and educating yourself through the free material suggested above on this site and then read plenty books. It wouldn't hurt to check out available properties (or lack thereof) in the Newport/Jamestown area. I too am searching for properties but more likely up in Providence. Let me know if you have any questions. More than happy to help.

Thanks @Anthony Thompson that's great stuff! I will be sure to do all that. I will also check out the BP material on it. I might just try to make a day of it and visit as many homes as possible! Thank you again for the input.

FYI:I will be viewing this house in Providence, Rhode Island

Hello BP,

I will be looking at my first house (SFR) this coming Saturday and I was wondering what I should keep my eyes on? You should also know I am more than likely not going to buy this but I thought the experience of going into a beat up house might just be helpful for getting some experience under my belt.

I have read posts on financial analysis, pro-forma vs. actual data, income & expenses, ROI, CoC, etc. but nothing can prepare you like actually doing it. How do I determine ERC if I have never renovated something? Do I take note of the bad that stands out and come home to look up how much it would all cost to rehab it? I want to do this so that I can go through the data, the income, the expenses, everything and determine if it is a sound financial investment and then maybe share my results on here to see if people agree. Practice makes perfect!

Thanks!

@Ross Whittaker be sure to check out the Rhode Island Real Estate Investor group meeting tonight in Warwick at Hilton Garden Inn!

Check out the website:

http://rireig.com/

Good luck! You've come to the right site!

Claire, good for you! That is awesome. Maybe look into attending the Rhode Island Real Estate Investing Group (RERIG) meeting tomorrow night in Warwick. Check out their website for details:

http://rireig.com/

I will be attending my first meeting tomorrow as well. I have just begun the education process and am probably where you were last year but I hope to jump start my real estate investing career in the next 6 months with my first purchase. Narrowing down details now.

Good luck moving forward!