All Forum Posts by: Flavio Zanetti

Correct @Chris Soignier unlikely this will appreciate any time soon unless there are some unexpected events...

Any other opinions, comments!?

Flavio

Here's the post that explains GRM:

http://www.biggerpockets.com/renewsblog/2011/11/09...

My rule of thumb, meaning I would only look / research properties that are below 10 since I am in Boston anyways and prices here are super steep.

Good luck with your deal and keep us posted if you close it...

Flavio

A friend investor is unable to get financing for this property and he mentioned it to me, details as follows: 

Purchase Price: 405K (50 days in the market - current owner is retiring)

4 Units - 3 bedrooms each

All units rented @ 1023.00 (including heat) - $ 49,104

Assessment: $ 63,400.Land + $ 256,400. Building = $ 319,800

Expenses in 2014: 

Cleaning $ 911.35

Insurance $ 1,316.00

Taxes $ 6,226.00

Trash Removal $ 125.00

Property Maintenance $ 5,127.50

Contractor Services $ 1,200.00

Exterminators $ 1,255.00

Plumber $ 752.00

TOTAL $ 16,912.85 (Oil is not included and this property is in New England)

NOI - 49,104 - 16,912.85 = $ 32,191.50 (not accounting heating oil)

P.S. Property is close to a university and hypothetically tenants should not be difficult to come by...

Interested to hear your thoughts, opinions, suggestions, etc.

Truly remarkable!!!

CONGRATULATIONS @Glenn McCrorey 

Flavio

Great thread... I was only familiar with much older types of vinyl, i.e. ugly, non-stain resistant and never tenant pleaser. I have seen the Allure in person at hardware stores and I have to agree that they are really a good choice depending on your location...

Flavio

Also depends if you are going to have to do any remodeling or fixing the property. Cash is always king when it comes to immediate needs

Good luck with your deal @Gagan Johal 

Flavio

If this thread moves to eastern mass, I would love to attend as well... I am in Somerville though...

Flavio

Food for thought... 

Assuming your LTV is not too high, you might be able to get a very low rate HELOC and use that money to purchase / down payment on your next rental property.

Best of luck on your next move @Mildred R. 

Flavio

What if the property has a lien, i.e. a mortgage?

Any recommendations!?!?

Flavio

 I could not agree more with Pete... Know your areas and know your risks is critical for success...

Flavio