All Forum Posts by: Brandon Ingegneri

100% of one aspect is rare.  100% of both I would find difficult to believe exists at all.  If so, it would carry serious conditions or collateral. This is especially more difficult to find for a less experienced individual. 

We only accept online ACH payments. 

@Jacob Cytrynbaum I have some industrial property here and I have had luck with it. It’s definitely site specific here but it has worked out well for me. If your strictly looking to invest in a market outside of your own, I probably wouldn’t be looking here but if your invested in the area, there is some potential in the commercial space. There is definitely more potential outside of this state though.

@Mathew Allen I currently own 23 properties in this market. I can tell you that seeking out an agent to find deals is not what I would recommend. 95% of this portfolio along with my wholesaled and flips never hit the market or flowed through an agent. Everyone’s eyes are on the retail deals. The off markets are where it’s at.

@Tyler Daly I’ve been doing this since 2008 and can affirm that there are still deals to be found in RI. It’s just a matter of networking and pounding the pavement.

I am not familiar with the area, but the initial things that I noticed were that the rooms seemed small and everything seemed generic. No offense intended, but the carpeting looked cheap, kitchen looked like it was given the bare minimum, rooms appeared small, and the staging and photographs didn’t compliment the house well. You have a couple of options. You can invest a little time and money to give it some character and have the home staged and professionally photographed, or you can overcome the existing obstacles with pricing. Best of luck. 

I have done a number of these on the East Side of Providence. Whatever your rehab budget is, add an additional 35% to it. I’m not saying this to scare you, but it’s realistic. Have an exact, detailed game plan before you start construction because once you do, money is going to flow. Consult with the historical society and be sure to pull every permit. Municipalities do not mess around at all when you begin working on these properties. Dot the I’s, cross the T’s, budget accordingly, and don’t hit the HA or Bldg Dept with surprises and you’ll be in good shape. Best of luck on your project. 

You’ve got to talk to an attorney and Cpa but an llc is the simplest and cleanest way of structuring with the least amount of distribution ramifications. If you grow into a more complex business, you may then convert to an S Corp, but the ease and flexibility of an llc is excellent for a start up. 

You can dig up off market deals in almost every RI city and town if you look hard enough.  Personally, I stay clear of West Warwick and South Providence.  People are starting to pay ridiculous money for these houses, so there is some savings, but not nearly as substantial as it used to be comparing Ma to RI

I am currently renovating my first rental in Narragansett.  4 bed, 2 bath.  From what I have gathered, I will most likely be getting $2000 - $2400 per week in the summer months.  My monthly rent during the winter months will most likely be in the same ball park as what a week's rent will go for in the summer.  I don't see Tiverton drawing such a premium over Narragansett, Charleston, Westerly for a weekly rental.  I know a brand new waterfront home in Narragansett goes for about $3500 a week in the summer.