All Forum Posts by: Samuel Girouard

Hey everyone,

So I am in the closing process of a three family. This will be my first real estate investment and I'm extremely excited. I have been living in the building along with my fiancé for the last 8 months. It just so happened the owner was looking to sell so I'm buying off market with a pretty good deal.

As I'm getting closer to closing (and I mean a week away), I wanted to let the only tenant in on what was going on as well as what changes he may see. One thing that definitely needs to change is the current rental agreement of a large area in the back of the building. He states he was paying extra for the area but when I spoke to seller they state otherwise. What would be the best way of making sure this area gets cleaned out? I have all ready spoken to him about cleaning the area out and has made little to no progress. They have a camper, plow, a boat and more. This is taking up what would be a parking lot.

Thanks,

Sam

So I'm getting closer to closing on my first multi family in the Worcester area of mass. I've been living here for the last 6 months and it so happend the owner wanted to sell. Long story short the tenant down stairs is a good guy and I'd like to keep him if I could but need to talk to him about changes. He rents a big space in the back that will be needed for more parking. And rent for him is at $800 but should be much higher. What may be the best way of speaking to him?

@Andrew Freed that sounds great I'll try and be there, I'd love to meet some other investors in the area.

@Brian J Allen this is awesome info thanks Brian!

I am looking at doing some renovations on a third floor apt. Nothing too complicated, but I want to know what stands out most to new tenants. Are granite counter tops a must, and what's a good flooring type? Also, what should I be looking at to spend? 

Look forward to hearing back,

Sam

@Anthony Dooley Thank you

Hey All,

I'm new to the forums and hopefully new to Land lording soon. I'm buying my first building from my land lord and had a few questions. As far as financing goes, I'm looking at a FHA and I'm worried about a few things in the building that may not pass guidelines for FHA. I'm wondering if anyone has a list of things that stand out to them for this? I'm pretty handy for the most part as I'm a full time carpenter but not sure how much that really helps if I cant get approved. Anyway was wondering if anyone could provide some knowledge on the subject it would be greatly appreciated.

Thanks,

Sam

I've been looking into real estate for about 5 months now trying to soak up all the info I can. I have come to the conclusion I'm mostly interested in buyand hold properties and landlording. So my question is, is there a specific type of property you think is great to begin with that is easier to manage but will still have cash flow?