All Forum Posts by: Ryan O'Leary

@John Corey I grew up in Millbury (Worcester county) and joined the military. I was in Germany my first three years and now I’m in Hawaii to 2021. But with my parents retiring soon, I would like to invest in the areas I know (Worcester county) and they could be a point of contact while I bounce around with the military. 

How’s London treating you? I loved it there. Went there 3 times while in Europe... saw the NFL London games. Real cool city. 

- Ryan 

@Brian J Allen I have no idea what the condition of the complex is in. I know the inside of the condo needs some work. Hoping the place isn't filled with drug addicts, etc. I know it's Worcester though, so you never know. The listing is 

https://www.realtor.com/realestateandhomes-detail/531-Main-St-Apt-510_Worcester_MA_01608_M35727-10072?ex=MA2372908816&view=qv

@Brian J Allen hey Brian, nice to meet you man. With the WooSox coming in, I was looking in to a 550 square foot apartment by the Worcester library. It’s 1 bed 1 bath for 90k. Looked a little run down. Would love to make it into a decent apartment with new kitchen appliances, floors, etc.

I’m deploying in a month, so this may not be the best time to pull the trigger. But I was curious if this would be a good purchase with the new stadium coming in.

Thanks for reaching out!

- Ryan

Hello everyone, 

I'm looking to invest in the Worcester area over the next year. It is a small condo approximately 500 square feet, 1 bed 1 bath in an 80-unit complex. Price is approximately $90k but I would offer less in order to allow for the upgrades I plan to put in (approx. 20k for kitchen and flooring). The area is about 2 blocks from the incoming Worcester Red Sox stadium coming in. I currently used my VA loan in Hawaii, so I was planning on taking a line of credit on that property in order to provide the down payment on the property. For the Hawaii property, I belong to an HOA... which obviously has the pros and cons... and the property in Worcester is also part of an HOA.

Does this sound like a good deal? Any recommendations moving forward? I'll be in Worcester this week on vacation and plan to look at the property. I have yet to look into reputable contractors to do the work, but if I decide to go through with the purchase, I would love to do the BRRR method and rent this place out for $7-750. I'm not banking on appreciation with this property, but the city is pouring $100-150million into the area for the new stadium, new restaurants, and shops to be open in 2021 and seems like a decent investment.

Any advice or suggestions would be greatly appreciated. 

- Ryan 

@Isi Nau @Gavin Shiraishi @Greg Gaudet , thank you guys for getting back to me. Isi, I agree to take my furniture and bed sets to my next duty location, as I would be looking to get military renters in once I leave. 

Gavin, that makes sense with Waikiki, especially with how small the apartments/condos could potentially get. The curtains I have now were in there when I got the place and are in pretty good shape, but I'll keep an eye on it. 

Greg, thanks for backing everybody up!

- see you all in the forums, 

Ryan 

Hello everybody,

Wanted to know if anyone in the Hawaii area would know if it is more beneficial to have a fully-furnished rental in Ewa Beach, HI rather than not fully-furnished? It is a 3-bed 3-bath condo in the Arbors Community, which has a great community pool and is right on Ewa Villages Golf Course. Getting $2500 renting 2 rooms right now to a couple, but I am trying to gauge how much I should rent the place fully when I leave, and if I should have it fully-furnished.

Any information is greatly appreciated!

- Ryan

@Kiera Underwood for sure! I definitely don't have a team right now. In Hawaii, I'm part of a decent HOA, so I'm responsible for everything inside. Recently found a decent plumbing service which replaced a new toilet for me.

When I’m ready to pull the trigger on the second property, I’ll make sure I have a team in place. I appreciate the feedback!

@Justin M. Thanks man, I would love to learn how to rehab places down the road, doing a lot of DIY projects, flipping, and other aspects of real estate investing. I’d like to keep my nursing gig which brings in the income, but I think I’ll slowly start looking for my second spot in a year or so. I definitely have the bug... but I catch myself being impulsive

@Scott Royer thanks for reaching out man, I’ll look into turn-key companies near my hometown area and maybe take another year to build a bigger downpayment for whenever I pull the trigger on #2.

@Anthony Katsonis thanks man, I’ll look into those. I didn’t think they had such companies!