All Forum Posts by: Account Closed

@John Warren @Michael Ablan @Anthony Dooley  

-I bought it at $455K in suburban Boston

-It's currently worth $460K without improving the property

-3 units

I have own this property for 3 months so far. I want to buy another one as soon as possible. It was my first investment property, which is why I wanted to ease into the BRRR strategy. My next move is to try to move into an owner occupied 3-unit property.

I bought my first real estate multi-family rental property. I want to know how soon I can leverage this property and use its equity to buy another multi-family. What are the strategies I can use to speed up this snow balling effect? 

Hello all,

Just bought an investment property. Before you know it, tax season will be fast approaching. I just want to know how do you savvy investors keep track of your expenses? Any tips? Thanks...

I called a lead inspector to inspect for hazardous lead this weekend as early as possible even though I just took over ownership less than a day. I'm taking the proactive route to find any this type of hazard early and mitigate my risks. That's my first step. Does my insurance cover this liability?

Hello and happy new year,

I just closed on my first 3-plex today. Here are some high-level description and concerns about the property:

-The property is fully rented by the same tenants for the past 5 years. 

-Tenants are paying below market rent (with cash only).

-They're not acclimated to English completely and poses a communication hurdle.

-The property was built back in the days, where lead paint is prevalent, and the lead paint disclosure says 'unknown'.

-There are children living in the premise.

Here's what I want to accomplish: 

-Raise the rent to match the market by giving out a notice.

-Decrease my liabilities.

Please feel to give me some of the action items that I need to address as new landlord with those factors in mind.