All Forum Posts by: Justin Hammerle

census.gov

try to check for comps on apartments.com; you could also speak with a property manager or realtor in the area who is familiar with rentals and see what they believe fair market to be.

@Account Closed - I don't see any reason why a podium style apartment building would not appreciate like any other; If not more so. To me they are more structurally sound than all stick and are generally built to help with parking ratios on tight lots where you cant fit it on grade.  The issue that I've run into with them is under writing them as new construction, because they are more expensive to build compared to all lumber frame.

Any correlation I think would relate to an increase in interest for real estate assets as a safer investment given the precariousness of the future economy.

BP is arguably the best podcast for free content anywhere, I would go through as many espisodes as you can.  A good book that I found helpful outside of BP is the Millionaire Real Estate Investor by Gary Keller.

Are the other units metered and were they permitted/approved?  If not, I don't think there is really any issue if you intend to use it as a single-family, it is just going to be structurally odd.  I think the issue you would have is if you were trying to use it as a multi.

@Account Closed - are trying to occupy the unit yourself?  or sublease?  It's a cool idea of your thinking of occupying the unit yourself; if there are multiple bedrooms, you could lower the rent and convince the tenant to let you occupy the bedroom and the share the rest of the space.

@Connor Sheehan - I think this is budget and location specific; I'm sure around Boston it will be difficult to breakeven with a 2-family, but if your on the outskirts or even out of state maybe you can afford a 3-4 family that will get you there.

@Account Closed - outside of making broker and direct owner connections Costar.com and Crexi.com have been good online resources for me.

@Brian Caudill - I would recommend amending the agreement contingent on the rezone.  As you mentioned there is significant risk and a rezone is not an easy lift.  If the seller won't go for it, I would kill the deal.