All Forum Posts by: Nate Fournier

Welcome @David Martinez ! Rentals or rehabs? 

Has anyone gone through the Mass Save program for their investment properties? How was your experience? If you haven't yet, how come? 

Chad Poske

Poske Plumbing & Heating

Hey Bobby! Not sure if you still need it but I used Bill Murphy at Fairway Mortgage for my 3-decker and he was great. Let him know I referred you ;) I hope everything has been going well, the kids are adorable... I wish you the best!

Just from the overview of numbers you've presented, it doesn't sound like much of a deal. $70k in rehab is a ton of work... How bad is the current condition? Do you plan on hiring contractors to do most of the work in a short period of time, or will you do some of the work yourselves over a long period of time? The longer the project takes the more expensive it becomes, typically. How much will it rent for in its current condition? 

I never like to work with Realtors who aren't willing to low-ball, because that's the name of the game with investing. I don't have any experience with Fannie Mae, but if it doesn't seem like there's much interest (have there been other showings, offers, activity? How long has it been on the market?) I would shoot for a lower number. It seems like you'd need to get this for $150-175 tops for it to  be a reasonable deal. But it all depends!

I am also looking for single family rehabs in the Southern Worcester County area (i.e. Auburn, Leicester, Rochdale, Sturbridge, Oxford, Charlton). My plan is to flip a few homes to generate the capital to eventually put down on some multi's in the city, with the hope that prices drop a little by then. 

Hey guys! Yeah, I'm sure this sub forum will begin to pick up soon. I attended WPI and am still working in the city.  My partner and I are looking to establish our business structure, learn as much as possible, and get our marketing ramped through the winter so come spring time we'll be ready to pull some triggers. We are looking to begin with minor rehab and flips, working with local wholesalers to build the capital required to eventually acquire a few multi-families.