All Forum Posts by: Kailas Tare
Kailas Tare has started 7 posts and replied 13 times.
Post: Rehab a BRRR using permit as owner or find general contractor
- Rental Property Investor
- Milford MA
- Posts 13
- Votes 4
I am rehabbing a SF for the first time (I do have few rentals but never did full remodel rehab before). I got several quotes from general contractors licensed and non licensed. The rehab work is full remodel of a house.
Option A: Hiring non licensed contractor and get permit as homeowner. Pay only labor cost to contractor. Material to be purchased by me.
Option B: Hire licensed contractor, pay labor and material both. Contractor gets a permit and all.
Option A is much cheaper and will force me to gain knowledge (which I can use in future rehabs) but I know it involves risk.
Option B is peace of mind but costly.
What do you guys suggest?
Post: Familiarity with Springfield, MA
- Rental Property Investor
- Milford MA
- Posts 13
- Votes 4
Quote from @Joshua Poitras:
Hello.
Does BP have any investors who actively invest in the Springfield, MA market. Ive just recently been making offers over there and now am finding it to be a high competitive market. Are their better areas to invest in within the neighborhood? and tenants more troublesome, any municipal difficulties. Would love to hear anything about the location.
I have been watching Springfield maker for some time now. Saw few homes in different neighborhoods. My analysis is that it’s a good market for multi family homes. I ran into some B or C type of areas. There are just so many multi on sale in this area
Post: Non FHA property should lower market value?
- Rental Property Investor
- Milford MA
- Posts 13
- Votes 4
I am under contract on a condo and while doing conventional mortgage, my lender found out that condo association has more than 50% properties are investment properties. This disqualifies for FHA loan.
I can still terminate the contract as j s as i m under contingency however I want to check with gurus here if this lowes the market value of the property? Does it mean I should negotiate lower purchase price?