All Forum Posts by: Chase Farley

Excellent! Thank you!! :D We are so excited to be joining the Stowe Community! We appreciate the love in advance :)

What level of quality should we aim for in a large renovation for a long-term STR (Tri-Plex)?

We purchased a triplex in a growing mountain town (Stowe, VT), with 3, 2, and 1 bd units. The house itself needs major updates to most of the CapEx (roof, water heater, furnace, siding, etc).

So, for example, when considering a new roof, is it more worth it to go for asphalt shingles or a more long-term durable/expensive option, like metal? 

What level of quality should we look for on an income property that we plan to hold onto?

@Jesse Rivera

Thank you Jesse!

@Lamont Chen

Thank you for replying! That makes sense. We informed the lender that we are wanting to have the property become our primary residence in May, because our lease isn't up until May, and we want to make sure the current tenants are safe in the winter of a pandemic.

Do you believe that delay would make it so it's not the primary residence anymore?

Hello!

My wife and I are nearly ready to buy our first house. We are speaking to a lender in VT that is wanting a 3.8% interest rate after we put 25% down. Our credit scores are in the high 775+ range, with 5 years of consistent work experience.

Is this higher rate due to having a triplex?

Thank you!