All Forum Posts by: Nick Bennett

We are looking for a company or group who lends in MA for multi families up to 1mil

Ideally an 80/20

please let me know if someone comes to mind :)

@Stephanie P. send me a PM

Anyone running in to this over covid-19?

I have a 3 unit in Providence RI and the second floor has found a new location closer to work and is moving. They gave me 30+ day notice as it speaks to in their month to month lease. I discussed doing showings/tours and they were all good with it, now their mind has changed.

Has anyone found any kind of ruling or law pertaining to this that benefits the landlord? I know each state is different, I own in MA and RI. Can I still impose the 24 hour notice and go? I gave 4 days notice and was shut down- I reluctantly agreed to put it on hold- shes been great up until this point.  I don't mean to be insensitive but shes obviously citing covid-19 factors as to why she wont in her words "permit" me to do the showings when I know for a FACT she grocery shops on the weekends- difference is, during this showing nobody will be aloud to touch anything, and the windows/doors can remain open! how is that worse? I understand it is your living space but really? I've even offered to pay for a nice meal out that they can have wherever they want and to sanitize all touch points after the tour is over.

I had to essentially give an ultimatum just to get a video tour scheduled- which I don't feel confidence will yield any different result.

That is my rant- thoughts? Any creative ideas to make it still happen? 

I have about 17 folks ready to sign, 3 willing to prepay who've paid for their applications already- I've got 0 need for this to sit vacant for a day- I don't want to put anyone unnecessarily at risk and don't feel we will when following the local guidelines along with added precautions that exceed the local standards.

Look forward to the engagement on the topic

Smith Hill

Short and to the point

Looking for investors to partner with me in a passive way on apartment deals in MA/RI 18-36 unit deals 

Generally looking at 4-6.5% cap rates with 115%+ DCR with some cap ex equivalent to ~ 2 years of cash flow but instead using an interest only loan for no more than 3-5 years with a a cash out refi before the end of the term

buy and hold 6-10 years 

DM me let’s connect if you’re in the market!

Yes for long term holds  should’ve been more specific but thank you for the info!

yes we’ve gotten two thus far , one local one out of state, we’ve been through it a few time just first time in RI!

Thank you kindly!

Hello!

Seeking some insight/ a connection to a comprehensive and fairly priced insurance agent that services Providence, RI

TIA

Nick & Leticia

I’ve been investing in multi-families in particular 2-3 units with high cash flow projections

I’ve been specifically targeting renovated properties that are overpriced/overdone to maximize rents and keep cap ex and repairs low while justifying the highest rents in the area.

I’m seeking an investor partner as I look to acquire more in the 3-600k price range

I have one under agreement in RI and I have another pending inspection in Springfield 

I’m looking to tap in to Worcester county 

I’m self managing the properties but hiring snow services and would intend to do so with future deals.

Let me know if you have interest in tapping in to this market and or are someone seeking a partner or manager out this way.

@Jonathan Anderson let’s connect I’d love to talk

any chance you’d consider Lubbock?

@Greg Dickerson we have been looking at smaller developments 20-30 unit but have been hesitant to pursue, depending on the area this could be a 1.5mil-4mil purchase.

A 6-10 unit could be between 400k-1.5mil

In our area a 10 mile difference can mean a 50% price differential