All Forum Posts by: Joshua Poitras

First of all Redfin is BS. The lowest duplexes are hitting 450K including lower centerville. Your decision should be based on your goal. If I was in your shoes I’d probably 1031 into something with more cash flow and use the equity as a down payment. What neighborhood is the property in. Message me for more advice. Also have you been to our pints and properties meeting yet? I’m from Lowell, grew up there and own 2 multis there myself. 

Has anyone rent an attic unit that gets way too fricken hot in the summer? Attics are tough to use HVAC in because the limited space. However, I dunno why people don’t use knee walls to their advantage. Anyways, I know you can use the split pump but I’m interested to see if any landlords or home owners have installed a small diameter HVAC unit into their units? Any kind. I like split pump but I don’t really see the savings on electricity.

Does anyone know what are some solid valid reason to buy again with the FHA loan a multi in the same city other than…..

Buying out of a joint owned FHA loan

Needing more bedrooms

Commute to work increased

Buying after co-signing for someone.

Looking to reuse my FHA again but already used bedrooms excuse.

@Troy Evans I second this.

Anyone have an example of a joint venture return for a buy and hold where the return to the financier is based of the rents and not a mortgage payment ?

Lawrence might be a tough place to buy your first. I would go for Haverhill or Lowell. How much are you budgeting for ?

Investment Info:

Small multi-family (2-4 units) buy & hold investment in Lowell.

Purchase price: $420,000
Cash invested: $1

Making a comeback into the real estate market with my new 4-family property.

What made you interested in investing in this type of deal?

good price

How did you find this deal and how did you negotiate it?

fellow colleague

How did you finance this deal?

VA

How did you add value to the deal?

Exterior Paint.

What was the outcome?

Positive Cash Flow.

Lessons learned? Challenges?

pushing a unqualifying property through a conventional loan.

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

myself.

@Kerri Wills

Do you guys do short term bridge loans? Need on to cover deposit money for one of my clients deals.

@Robert Davis

Depends on your guys long term plans. Are you only buying one property together? or going to do this for awhile together and start a business?

@Frank Boenzi Sure, If you think of it Frank, Same here, Ill add you to my database if I find anybody looking in Michigan.