All Forum Posts by: Sandy Gabin

A shout out to all ladies representing this forum!!!! I'm from Massachusetts and proud of being a member of the BP community!!!

Investment Info:

Small multi-family (2-4 units) buy & hold investment.

Purchase price: $25,000

Duplex home with Victorian style. High ceilings and Historic District.

What made you interested in investing in this type of deal?

Historic District area, Victorian style with stained glass with high ceilings

How did you find this deal and how did you negotiate it?

Was driving around the area looking for good deals. Didn't have a chance to see the properties because already had a buyer. When I saw the property inside, I fell in love with the high ceilings and very large door in the front. And best of all, there was already building materials and plumbing was already done.

How did you finance this deal?

Cash

Did you work with any real estate professionals (agents, lenders, etc.) that you'd recommend to others?

Worked with Berkshire Hathaway, Theresa McCabe

@Lupe Camacho Go with multifamily! House hack so you you can buy the next one! I house hack on a 4 family and continue to buy more. 2020 is my year!

My goal this year is to buy 3 more properties! I already have 2, one SFH and 1 duplex. Next property, multifamily!

Hey Michael,

Sorry to read what you are going through this whole mess. This is one of the main reasons why I don't have tenants that depend on a housing voucher.  I had so many calls about people having these vouchers that would only cover a few months but what happens when there is no more vouchers? How will they pay my rent? And to top it off, they don't work. They stay home all day and wear and tear the unit. Is there any way that you can reach out to the agency and tell them what you need to do which is to put the unit up to code? Hope this helps. 

When my units are vacant? I put the electricity under my name, and in order to change the name to the new tenant, I make the call next to the tenant and pass the phone so they would put it under their name. Did the tenant already give you the deposits? Did you give her the keys to the rental? Can you ask her to send a picture or proof maybe?

I agree with Michael and Joe about larger spaces. Families like to gather a lot in the kitchen and dining spaces. But we can't forget about the bathrooms! I have a tenant that her 2 boys which are over 6 ft tall, found the bathroom with enough space for them! Mind you, the bathroom where they came from is smaller than the bathroom I rented to them. The bigger the better!

Hi Troy,  I would suggest for you to get a sub-lease agreement and make sure it would approve or agree  in the state you live in. In regards of your friend, it depends on how well you know he or she. Do you know that person well enough that he or she won't trash your place or won't have any issues to pay the rent on time? Not sure if this could hurt your mutual friend's feelings. Do your research very well before you jump into any conclusion. You don't want to jeopardize your relationship.

I had a very close friend and I was able to rent her a unit and explained to her the lease, she agreed and she left my unit vacant because she decided to buy her own home. Thank God that checking for her background and credit check didn't cross my mind because I knew that I would my friend. Hope you the best in your new journey!

Hi Kevin, when the tenant pays late, do you charge a late fee? Is it possible to add it on the lease? I would leave it month to month. If the tenant doesn't give you any problems, and her only flaw is the late payment, then maybe you can talk with he or she about it. I have a tenant just like that, with an extra 50 dollar late fee! That's more money for me! It's hard to find a good tenant these days. Not all tenants are perfect. 

Hi Jonathan! I would love to attend and becoming part of the group tomorrow night, but I can't but I will be looking forward to go the next meeting and seeing everyone there from BP! Keep up the good work!