All Forum Posts by: Michael Dumont II

So I have laid low the past few years with investing. I had little drive to grow beyond my 3 properties ( 7 units, 6 rented units). Now I'm looking to move forward with my 800k in equity. Looking for thoughts and suggestions how I might move forward with expanding my inventory of properties. Note I do have the ability to meet 20% down on an average 300k property in my area Burlington, VT.

Thanks and happy holidays to everyone in advance,

Aaron is Right,

You will want to get on this quick. And make sure to have an attorney deal with it due to Vermont's tenant favorable laws.

I would recommend Matt of Daly & Daly, 

I have worked with him and his wife for years, amongst other firms, and have always been pleased.

Many banks now offer the option to label your accounts. I provide my tenants with the account names for deposit. No account information is exchanged other than a receipt with the deposit amount and transaction number.  

 Hey Ralph,

I Personally feel that all towns in Chittenden County have potential. The biggest obstacle I see in Williston is that so much of the pot is newer development, making Investment entry often difficult in our market. New development is crazy inflated (For instance the house built last year on the lot next to my house is a four bed 3 bath with 200 more sq feet. It went for 523K. My home I bought 3 month later is 23 years old and a 5 bed, 3 bath, for 315K. both lots are the same size.) This is't to say you can't find a deal, or make something work in your favor. Williston has lots of potential, good schools, all the area Box store conveniences, and is growing as a suburban sprawl from Burlington fast. I just like to stay in South Burlington cause I live here and I'm close to managing any issues. 

Hey Graham,

I have lived in South Burlington all my life and see deals constantly. I have managed to make great cash-flow happen. The rental market is almost on par with Burlington, leaving me with little vacancy. While I will say I could never pull the 2% rule. I am pulling double digit cap rates on all my properties. My latest deal I got a small four bed single family, for 180K +10K in cosmetic updates. I pull a $2,100 a month. My expenses are low, with a take home of $700 conservatively. I see these deals all the time just in South Burlington.   

 Thanks for the insight @Mark Nolan. I will be sure to check out the "Learn

 Thanks for the insight @Mark Nolan. I will be sure to check out the "Learn" blog posts.

 I would have to agree that Williston is a great buy and hold market @Ralph Jensen. However, South Burlington has the largest potential. Aside from being a great market currently for buy and hold cash flow, The city is on the verge of implementing a huge town center that  will be a huge lure, and ad new businesses and housing targeted to Generation M's preference of life style living over all else. Additinaly having top rated schools in Vermont and by nationally by Forbes Magazine, the schools will be going through a massive restructuring and consolidation of students. The primary goal will be to establish innovative infrastructure among the buildings. Last the plans for the Airport expansion and it's economic fuel will drive the city's ability to grow.

 This sounds great! I will see if I can make accommodations to attend. Thank you Samantha.

 Thanks Dmitriy!