All Forum Posts by: Angie G.

@Ann Bellamy

Hi Ann,

Thanks for the link and information follow up. 

Yes, I had read about a team/couple, the New England Family Housing enterprise and Neighborhood Stabilization grants before I purchased in this area.  During that time (about 4-5 years ago) I assumed the grant was readily available for multifamily landlords.

However, once I purchased a Berlin multifamily in 2014, I could not find any information on those grants. And I was unable to locate the original articles I had read online. So, I chalked it up to people with better financial local government/business connections, experience, and perhaps the grant period expired.

I have been doing the renovations, self-funded, thus at a slower pace.My properties are located in the vicinity, mere blocks away, east of the river.

Indeed, Kevin/New England Family Housing made a positive impact in the area. The curbside appeal is evident. 

I have always wondered why none of other local landlords or potential new landlords (aside from New England Family Housing) utilized the Neighborhood Stabilization program. Would you happen to know more about this? Was this/is this a difficult grant that very few qualified to apply and get accepted? This is what I assume on my limited knowledge of the grant but based on what I see in the area.

Thanks Investor Llew for the sage advice. 

Everything you said is so true... everyone interested in going into an investment with another person needs to do the due diligence. Have no shame to ask and verify the financial health of prospective partners or team/crew. They have to have skin in the game.... and promises of sweat equity (that they will do the rehab or renovation labor/heavy work/ or the property mgmnt) does not count for anything.  Assurances, promises, and words are like vapor... if a person decides to do nothing later on, there is no way to force any partner to physically perform. Do not get caught holding the bag- paying for everything or getting your good credit used up by a scammer or moocher.

Due Diligence and binding agreements will help prevent headaches.... and as we known, always make certain that bank accounts are not able to be withdrawn by only one person. I have heard horror stories with Partnerships, where the account was cleaned out by one partner who "disappeared," yet both individuals (including the innocent partner) are liable for all debts.

Thanks Cesar and Llew for bringing up good points.

Thanks, Rosston!

Hi Ann,

Thanks and indeed, it is a tough one. Interested to know what grants your friend used, if you would happen to know? I have met a few others who in partnership were also doing multifamily properties investment, but they were from Vermont. I do not know or ask how they were financing it, though.

Yes this is for the long haul and I agree (even just based on the winters here) it's not something most people would undertake. I appreciate your candor, so no worries about the negativity about the area, this place has had a bad shake for more than a decade.  

I see a slow but a steady positive metamorphosis that is occurring in this area. It is still far from what many would call a "good" investment, but as you stated 10K and under a door... and a town that is Outdoorsy Mountain Americana lured me to be part of it's new era. Although, it will take time.

Hi Shawn, Thanks for the welcome and I agree that this is the best internet stumbling that I have done in a long, long time. 

(I do not know how to tag/link your names...)

Hi BiggerPockets,

What can I say? I am happy to have stumbled upon BP today while looking for real estate information online. I read a few threads on the forum... and immediately bookmarked and registered to BP. Getting involved online is rare thing for me, but the collaboration of everyone using this site is amazing. I want to know more and become a part of it.

I am a residential Realtor in South Florida.

Currently, I have buy, hold, rehab, and rent real estate goals with 1 single family house in Southwest SW FL (Port Charlotte) and 2 multifamily properties in the White Mountains, Berlin, NH. The Multifamily properties need more than cosmetic work as they were foreclosed for years and winters are unforgiving (unheated building, etc).

It has been an adventure. I am happy to discover that many others on this site have also experienced or are embarking on similar adventures. I look forward to learning and sharing.

Happy 12th Birthday Bigger Pockets!  

Wow... I just joined today and I am already thankful for finding this great place on the web. This is a great community. It's refreshing to find a plethora of real estate investing information tools, accessible for anyone new to pro in real estate... and the forum questions and experience sharing discussions without a massive sales pitch or product push. The best.

I feel like I am the one who got a birthday gift today. 

Many thanks to all who have made this site great!