All Forum Posts by: Christy Crivellaro

Hi everyone! I've been following this community from the sidelines for a while and I'm excited to finally have time to get involved. Im a small business owner who's spent the last few years focused on growing my business enough to give me a little time freedom - and I mean A LITTLE! Lol. I am finally at a point to begin my search for my first property ever! Looking for a 3-4 fam in Athol or surrounding and Im curious: other than the MLS where/how you might suggest finding properties. Im not typically available evenings for meetups etc. I appreciate any insight available. The support of this community never ceases to amaze me!

@Steve Vaughan super valuable advice 👍🏻

To the other investors in this forum IS there a way she can move forward into a duplex with a PP higher than she can afford that she isnt seeing? Aside from the emotional turmoil, (because I get it, Ive been there!) are there other strategies that would work in her market to get her into a place that she isnt thinking of? 

@Brian J Allen helpful thank you. back in town next week

I err toward caution so I am curious: What minimum reserves would you all feel good about if it was a 3 fam selling for 500k and your FIRST investment?

 @Jason Regan I would love to connect. Ill reach out. @Jonathan Bombaci you are correct. I need to keep running numbers and take a look at what 400k will get me vs 500k. @Daniel Consalvo Completely agree about not depleting reserves. I prefer to have way more then necessary especially my first time. I understand COC but what if my goal is to replace my working income? I have spoken with other investors who have done so and who look less at COC and more at cash flow and cap rate. What is your perspective on this? I cant thank you all enough for this amazing feedback.

Lets see if I can firgure out how to reply to you all lol 

@Andrew Freed, @Lien Vuong and @Nate Jones Thank you so much for this feedback. Okay I think I understand and thats why Im getting hung up on being able to answer this question for myself. I am still learning and fairly new (slow) at analyzing properties. I think as I get better at it I will see if (on a case by case basis Nate) its worth paying more in taxes now. The problem is I need to decide very soon and I wont have that experience under my belt yet. 

Can any of you (or anyone else) with your experience in these areas tell me: Will I find cashflowing 3 families in and around Worcester that meet my criteria?

• I would prefer to stay around 400k for my own comfort level if possible but hear what youve all said.
• I want cashflow (once fully rented), 
• rent ready with the exception of a little cosmetic stuff, 
• a good neighborhood since Im living there for at least a year, under 45 min to Sudbury MA, 
• parking and laundry on site. 

Further can anyone tell me what kind of cashflow is reasonable to expect for this criteria? 

@Andrew Freed I would LOVE to join these meetups. I struggle with evenings as my job is extremely physical and I start early mornings but I can try. I know the benefit would be huge.

Hi all.  This is my very first post here ever so go easy on me! ;) I plan to owner occupy a 2-4 family in central MA; Worcester and surrounding. Im getting hung up on one huge question: Purchase Price. 

With my current self-employed income plus potential rents from a multifam I qualify for a 400k property. (Ive spoken with multiple lenders. I have down payment, closing, reserves and make ready for either) I haven’t filed 2020 taxes yet and filed an extension because if I drop a ton of deductions and pay more in taxes (3-5K) I will qualify for a 500 K property. I would only make the jump from 400 to 500 assuming more units = more cashflow.

I’m having a hard time deciding if I should pay more in taxes to qualify for a higher purchase price and what the pros and cons are of a 500 K property versus 400 K. Whats important to me: #1 cashflow, rent ready although I can handle a little cosmetic stuff, nice neighborhood, parking, laundry.  3-4 families in my area are 350-500k.  Do I stay at 400k. assuming it still cashflows (cashflows based upon when I move out) albeit less than a 500k prop, dont pay the extra in taxes, keep more money on hand because Im not paying additional taxes but also DP reserves etc will be lower or is it worth it to make the stretch to 500k leaving me with less cushion for any mistakes I make? As Im typing this Im thinking spend as little as possible to get into a prop that cashflows and hold onto as much as I can for #2.

WHAT OTHER FACTORS WOULD YOU CONSIDER IF YOU HAD TO MAKE THIS DECISION?