All Forum Posts by: Robert Nason
Robert Nason has started 15 posts and replied 248 times.
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
Chris, I was just in Charleston a couple weeks ago. I love your city! I played golf in Khiwah Island for a couple days and fell in love for the whole area.
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
look for year and a half before I found this one. But when it came on the market I knew my numbers and I knew this was a great deal for me.
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
Originally posted by @Chris Armstrong:
That sounds like an awesome deal and I hope I am able to find something like that in the next few years. Wow, units look nice also!
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
I agree with you on changing out the hardware on the cabinets, but my wife and I couldn't decide and we ran out of time with the tenant moving in on the first. The flooring is a high and vinyl which I love! I put it in myself and it looks and feels fantastic.
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
Originally posted by @Mike Dymski:
Pics look great. Incidentally, what flooring did you use...looks like LVT or vinyl sheet?
This is getting particular, but new cabinet hardware would add to the contemporary look but it's hard to give advice on such a successful project.
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
some tenets stayed, and some tenants left. It worked out that about one a month were willing to go. It was totally under valued as the previous landlords do not make any repairs at all. Previous owners We're charging $1000 per month...after my renovations I am charging $1300 per unit
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
I thought about it, but I don't think will be cost-effective with only 12 units in the building. My water right now is reasonable. It is something I should perhaps explore down the road.
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
Originally posted by @Rob L.:
@Robert Nason great job on the quick turn around on the unit. I noticed you mentioned the Heat and Water was included in the rent. Have you priced out the cost to sub-meter the water? That would allow you to move that expense over to the tenants and further increase your ROI and the CAP rate as well. Just curious
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
thanks Dimitri, I have thought about it but that is something that I'm going to address a little further down the road.
Post: When is it too early to put my Brrrr into play?
- Lowell, MA
- Posts 260
- Votes 99
Originally posted by @Dmitriy Fomichenko:
Congratulations on the deal, and I do think that it will help to keep these units for another couple of months before refinancing. I have the same question. How did these tenants stay even after you increased the rents? I guess the units were rented below the nominal rentals going on in that neighborhood. Good luck with this project and much success to you!