All Forum Posts by: Tammy Braz

I actually had the same questions as John Hart (above).  I'm thinking about buying a MF in Ct.  I haven't put in an offer but I toured the property, talked to the tenants and reviewed the leases among other things.  They seem happy there but based on what they told me about their employment, I started wondering if they are able to pay the rent.  So I asked my realtor for employment and income info about the tenants but I haven't made an offer.  Am I entitled to this info before the offer?  I don't want to evict anyone but I also don't want to get in to a situation where the tenants are unable to pay.  So my questions is this: If I make an offer and later find out that the tenants' employment/income are insufficient, can I back out?

Lynn, my problem is, when I looked in the better areas, the properties were expensive, needed work and some weren't fully rented.  However,  if I updated them, I'm sure I could get top dollar - but this plan is expensive and I didn't want any intensive renovations.  On the other hand, I can spend less money, buy a property with all that I mentioned before (good cap, updated, rented units) in a so-so neighborhood.  I had preciously ruled out the "so-so" neighborhood completely but maybe it's a good investment.  Lots to think about.

Thanks for the responses.  I'm going to look at a property that I previously said No to because it wasn't in the area that I wanted and the neighborhood is a little down and out.  It's fully rented, updated (roof, furnaces, electric, units) with a 12% cap (which I will verify).

I find myself judging the investment properties as if I were going to live there.  Do I need to love it? Like it? Or Just make sure it's a good (sound) investment.  I'm a newbie and I've been looking in good areas (school system, resale, rents, taxes) for an investment property.  The problem is that some of the units aren't that attractive.  I find myself thinking... I wouldn't want to live here with this bathroom, kitchen, flooring, etc.  Should I take myself out of the equation?  I also want move-in ready, with tenants at a good price  - Is that asking too much?

Hello! I've been thinking about real estate investing for years and I'm currently looking at a couple of properties.  The hard part is figuring out if I want to buy a foreclosure, a multi-family, vacation rental, etc... I want to start small so I'm currently eyeing a house that's going to auction but I'm pretty sure it needs updating.  I'm also looking at a recently renovated multi-family (6 units).  My real estate experience is based on seminars and books - no actual or real experience.