All Forum Posts by: Claire Durand

@Kyle Curtin

Hi Kyle, I had an inherited tenant’s lease end a few months ago that was around $600 under market value. 60 days before the lease expired I had a conversation with the tenant about renewing. I asked for a $300 rent increase and brought rental comps from the area to justify the increase. The tenant agreed to the rent increase and said they were expecting it. They also commented that with the current rental market they would not be able to go anywhere else for less. I think showing comps when you are raising rents can be good way to justify a rent increase to your tenants.

Hi, @Michael H. I would love to hear about your experience with house hacking is going! What part of Worcester is your triplex in? 

Hi, @Todd Wheatley thanks for connecting me with your colleagues! I'm excited to start networking and getting a better understanding of the Worcester market. 

Hi BP community, first post here! My boyfriend Matt and I have been educating ourselves about real estate for the past two years through listening to podcasts, reading, and watching webinars. We are looking to start our real estate journey this spring, by house hacking. The plan is for me to buy our first property using an FHA loan this Spring and for Matt to buy the following spring.

To give you some background on ourselves, we are both 23 years old and graduated from college last year. I work in accounting at a real estate development company in Newton and Matt is a project engineer at a construction company in Worcester. 

We are interested in buying a multifamily property in the Worcester area because we believe that the area is going to continue to appreciate and it will cut down on our commute time. We are not afraid of tackling a renovation as long as the property qualifies for an FHA loan. In the next few weeks, I am planning on speaking with several different banks to begin the pre-approval process.

We are looking to connect with other investors in Worcester, MA and welcome any advice or recommendations from anyone who has house hacked or bought multifamily properties in the area! Are there any specific neighborhoods that you would recommend or want to stay away from? Has anyone had success with driving for dollars? We are really looking to get out there to better understand the market. Thank you all in advance! 

- Claire