All Forum Posts by: Nate Jones

@Joshua A. Are you still using Propwire? Just stumbled upon it a couple of days ago and wondering how well it’s been working for you? I’m looking to use it to pull lists of possible sellers in my area.

Thanks

I can’t speak to the cost of the roof, but I’m in the tree industry and I know bids can vary wildly. Shoot me a message and I can make some recommendations.

Awesome idea! I’ve slowly been working my way through all of the podcast episodes from the beginning and wondered the same thing. 

Personally I think you'll have to approach this case by case. I agree completely with what @Lien Vuong said, for a small investment of 3-5k you could be in a much better position as far as debt to income is concerned. The way I initially looked at it was - will that up front investment yield you anything as far as returns? If you're seeing the same cash flow numbers with 400k properties as 500k properties, then I don't see any real reason to eat the tax bill. On the other hand, if properties in the upper price bracket allow for $100 more in cash flow month, that's a pretty nice return on your money. There are certainly a number of different ways to look at this.

Good Luck!

In my area we have properties that cost half as much and will rent for the same amount and I still run the numbers with some skepticism. 

I would personally steer clear of this deal. I'm not sure what is so appealing about it other than the location. It looks like you will certainly lose money every month on it. With the numbers you have listed it, it doesn't even come close to the 1% rule or put you at a break even. 

Hi Brian,

I grew up in Springfield, it's certainly a hot and cold market. Any luck finding properties in the area?

@Donald Dooley

I would love to connect. I sent you a PM this morning with my contact info. Thanks for the reply!

@Jonathan Bombaci

Thanks for all the great tips. The great part of my job is all of the networking I already get to do. My company is involved in a lot of work for the T and other municipality projects so I am constantly traveling and meeting new people. My wife and I are trying to form a concise plan and stick with it. It's far too easy for me to stray from the plan and end up wasting a ton of time chasing leads. As for the duplexes, I couldn't agree more. It seems like a much better living situation for the tenants when the units are side by side. I'm not to familiar with topic of condo conversions, looks like I'll have to do some homework. 

2. It's funny because I have never seen my current career/knowledge being an asset in that sense but you are completely right. Separating lots is a great angle that I never thought of, many of the homes around here sell with quite a bit of acreage and most likely could be split up. Furthermore, I personally think some newer construction duplexes would be a hit in this area. The current inventory seems to be early 1900's or homes built in the 80's.

Thanks again,

Nate

Hey everyone,

My wife and I are new investors in the Western Mass area. We're primarily focused on a buy and hold strategy. Our location is almost dead smack between Worcester and Springfield. I personally grew up in Springfield and understand that the area can be challenging and the market is extremely hot and cold which has lead me to look for other opportunities. I'm not too familiar with Worcester, but from what I've read it can be a great market. We would like to focus our efforts on the smaller towns surrounding Springfield and Worcester such as Palmer, Ware, Monson, Brookfield etc because that is what we are most familiar with.

Currently I work for a local land clearing company and my wife works as a teacher. We both enjoy our careers and have no plans of leaving. Our goal as real estate investors is to find a sound, long term place to park our money. At this point in time we're interested in buying up a handful of newer (70's up) duplexes. Our goal is to provide clean and well maintained housing while providing both parties with a positive solution, the tenant and us of course. We are open to all/any advice from local investors and look forward to hearing from everyone!

Thank you,

Nate Jones