All Forum Posts by: Robert Nason

 It didn't bother me as much as the deception by the previous owners. It was my intent to re-tenant entire building anyway.   I wish I would've known well in advance perhaps I would have used it as a negotiation tool. It has not negatively impact good my  ability to obtain quality tenants as the building is well situated and in very good condition. 

I had a similar situation last year. A few days before closing on this property I googled the address looking for pictures of the property when I came upon a News article of a murder at the building two years prior. I asked the owners directly if there any criminal activity at the building that I would need to know about and they should me nothing ever happened there. I went through with the purchase anyway but it is come up a couple times already when showing the apartments.

It's a very ambitious project for someone who's even been in the business for 10+ years. I would start with flipping a couple smaller single-family homes, or buying an existing three or four family that is performing well.

Hi Jonathan, welcome to bigger pockets. As you know already, this is a wealth of knowledge here. I too will be attending the wealth builders meeting and I will make sure to say hello.

I owned a family lake house in Maine 25 feet from the waters edge and looking directly at a ski mountain. I never had a problem getting renters to pay top dollar. The only problems I had with vacation rentals is the maintenance issues seem to be higher. People on vacation like to party and stuff happens. This was in the Lakes region of Maine in a small town called Bridgeton. In the fall if you had antiquing and apple picking and all the usual small town activities to drive in the tourists in the winter time skiing, icefishing and all those related activities. In the summertime nothing better than the lakefront. I paid $97,000 for it, sunk $30,000 in repairs and upgrades over the next 10 years and then sold it for $400,000. But I wish I never sold it. It was great income towards the mortgage and created wonderful family memories.

One of the best investments I've ever made in my entire life was putting a French drain in my home. The work is extremely disruptive and messy for a few days but you will not have any water issues once the job is complete. I did mine in my home 15 years ago where it flooded every spring. Since that time not a single drop of water has entered my house

Go get' and good luck!

If $1800 a month is the bottom of the scale I wouldn't hesitate in immediately raising the rent up to the current market value. This is your business, and you must treat it as such. The rent should be what the market will bear. Take emotions out of the equation.

Hey Andrew, welcome to bigger pockets! You found a great resource that will lead you to great success as a real estate investor. I like Winthrop for some reason a great deal. I think a lot of it is they're not building any more oceanfront land. Currently on my investments are in Lowell and it's been a great area for me. I live closer to Boston, but you get more bang for your buck the farther north you go. Good luck in your future investing!

I would call your local sheriffs office immediately. They're trespassing on your property. If this is how they handled themselves, you can only imagine how they act once you have them under tenancy.