All Forum Posts by: Christopher Lynch

Yes exactly. The property itself is great. I’m just unsure about the future of the city itself. 

Hey Chris, Realtor and investor. Would love to connect. 

I bought my duplex 2 years ago for a excellent deal. The property is a townhouse style duplex with hardwoods throughout, updated kitchens, and 3 bedroom 1.5 baths per unit. 

Fair market rent is about $1800 per unit and it’s located in the Phenoix area of West Warwick. Coventry/West Warwick Line.

It’s been a great property. I live in one side and rent the other to a low maintenance tenant. However, I am wondering if I should sell the property and take the roughly 130k tax free capital gain and invest it into other properties in another location in RI. 

Although the property is super nice, I am concerned about attracting low maintenance tenants in the future and I’m worried the location won’t see much appreciation as there’s not a ton of stuff in West Warwick and I’m unsure about what the future holds for this town. Will it appreciate or should I invest elsewhere?

Any feedback would be awesome. I’m at a crossroads. 

Yes that makes sense. If you have the contact info for that lender I would love to reach out to them. 

I am looking for recommendations for a Local hard money lender in Rhode Island to connect with to fund future BRRRR projects.

If possible, I would like to find a hard money lender who will fund the deal along with the rehab cost. I will have money to put down but it would be nice to find a lender who can finance both part of the acquisition and the renovation.

Right now the few hard money lenders I’ve spoken with are looking for 15-25% down and I would also have to carry the rehab cost myself.  

@Anthony Thompson That is a good description. What numbers and data are you looking at to determine this easier? Based on your description it seems like my house is in a C area. 

@Anthony Thompson Ok that is good to know. Just moving forward how are you evaluating locations and determining if they are A, B , C or D grade areas?

Also, what grade area would you consider that part of West Warwick? C or B?

@Anthony Thompson The Property is located on the Coventry West Warwick Line. Near bills pizza and broad street. 

I bought a oversized duplex in West Warwick last year. It is townhouse style and very nice. 3 bedrooms each unit 1.5 bathrooms. Oversized driveway for parking and a detached 2 car garage. 

Inside each unit you find hardwood flooring and the units are updated. One unit even has white granite counter tops and stainless. 

Rental comps are coming back at $1400-$1600 per unit. My big concern is tenant quality. I don’t want to have headaches once fully rented. I currently owner occupy it. 

Does anyone have experience with rental property in West Warwick and will it be easy to fill the units at these rents? 

I have been searching the MLS for investment property with no real success. I have gotten into a couple bidding wars on property with strong numbers but did not win. Now I am going to start looking for off market deals.

What Success have you had with this? Also, how would you go about getting started with this? 

My idea was to create a standard letter to sellers which states I am interested in buying a property in their neighborhood. Has anyone here had success with this Strategy? 

What resources and or websites are you using to find these deals? Or is it just mass mail marketing?