All Forum Posts by: Nelson Taylor

I know that property and considered it myself. I'd have to run it through my spreadsheet to really determine its value.  But I saw a surface opportunity there.  I thought it would make sense to add a second floor.  Happy to get together at some point and really flesh it out with you.  Do you have normal inspection and financing contingencies?

I am a broker and an investor, so have a unique perspective.  I think that this is a fine practice.  It wastes much more time to view a property when there might be no chance of you ever buying it because the sellers won't accept your pricerange.  On both sides.  I'd rather offer low, see if there's a ballgame, then work to make it happen.  I'm respectful with my offers.  And mostly they are just an email.  Would your seller consider an offer of "X" cash no inspections?  Sometimes that agent may come back to you after time has passed or another deal has fallen apart.

STR is AirBnB? What about third floor? and what neighborhood is this in?

What rents are you getting on the two other units?  And how much would your unit rent for if you bought another multi to house-hack?

In Providence the right arm def does not speak to the left arm.  I once sold a house that was taxed as five units, zoned as a single family and it was being used as a triplex.

I don't think you can be successful as a real estate agent part-time. Real estate success depends partially on being available when your clients need to see properties, discuss an offer, schedule an inspection. As an agent, your schedule is generally at the whim of others. It's easier to be a real estate investor part-time, thus possibly making it worth it to get your license to earn any buyer agency fees and be able to refer business (general referral fee is 25%) to a full-time agent in your office. Of if you want to stay involved, find someone to cover for you when you are not available and share deals 50/50. Best of luck!

In Providence I have used Murray Gereboff. I think he’s still practicing. Old and sloppy guy but gets the job done for a good price. 

Re: inheriting tenants, I have clients who put in two offers. The higher one includes the entire property vacant. 

Good luck!!

I could have lunch today. Or coffee around 3pm.  Monday anytime between 11 and 2 I am free. If you want to take this off BP, you have my private email. 

I am very curious about this and thus have started considering Central Falls as an investment area. Cap rates are generally higher than other areas, and with this appreciation potential it seems like a potential home run. Do any of you currently own rental properties in Central Falls? What advice can you provide--best areas, what to watch out for, etc, etc. Thank you!!

Welcome, Roger. And good luck with your endeavors. I am both a local investor and real estate agent. Ann Sabbagh at Seacoast Mortgage works with clients to fast track fixing their credit. Look her up. As far as down payment help--gifts from family, partnerships, $7500 first time homebuyer credit, and using seller's security deposit as downpayment hack are all potential outlets.