All Forum Posts by: Anthony Simboli

Hey BP! I'm in the process of getting my own property. I've already used an FHA loan in 2015 for a duplex in MA (I split that property with a partner but now am selling it)

It's been a while since I've looked into loans and downpayment options and things like that. Any advice on where I can find good information. I've added below a high level criteria in what I'm looking for.

• Single Family property in NH
  Would like to have it livable but would like to rehab myself 1-3 years
  Would consider a duplex but would be similar criteria in that I'd like to rehab one unit and live in the other. Ideally no tenants right now (just want to live alone for once!) 
• Ideally would like to put as little down as possible to keep some capital for rehab costs

If more information would help I can add. Thanks!

@Account Closed thanks for all of the information. We will take that into account as well with the insurance company. Makes sense to be covered. Appreciate it!

@Ashley Terenzi Check out the links above. Good information

@Joseph H. thanks for the information

@Matt Herbert thanks, I'll check out both links and also look into the insurance side of it as well.

@Will Stewart yeah, unfortunately that railing is not safe as it sits right now so going to need to redo that anyways but that makes sense. appreciate the feedback

Could anyone help with 2 questions regarding handrails as well as safety of a "landing area" see picture below for reference. Rental property is located in New Hampshire

1. Does a staircase with two supporting walls on both sides need to have a stair rail? It did not have one before but in trying to put one up (shown below) it's not very sturdy because it's an older house and it was nearly impossible to find any studs to drive into for safety.

2. The area to the left at the top of the stairs is a weird landing area but seems like it could be unsafe if someone were to stand there or try to store items there. Does there need to be anything there (a railing of some sort) so a tenant cannot access it? Should I write something in the lease? 

Any help would be greatly appreciated.

Are you doing everything on your own, different partners? If different partners I'd make sure to keep things separate (just an opinion). 

Also, I'm not too familiar with the tax advantages/disadvantages with multiple LLCs. Might be worth looking into that as well before making a decision.

I'd say knowing that you don't need cash flow to invest in more properties, and you're patient, work on whichever model makes you the happiest. The market right now is very interesting and it's hard to say what it's going to look like in 6 months, a year, 5 years. If you're looking to move to a new market, reach out on the forums to see what others have been analyzing for up to date trends.

@Matt Nico thanks for the post! Love what you're doing. I noticed you mentioned that you're increasing the % per month as you're confident on the refinance. I'm sure you already know this, just thought I'd mentioned refinances (at least in my area that I've experienced personally, are taking much longer to actually close on. Just something to keep in mind, and maybe something you can get ahead of as you get closer to wanted to refinance. Look forward to your updates! 

Hey BP! 

I made a similar post about file sharing but now am looking at suggestions where people track finances, in particular their income and expenses. Do you have a one stop shop for all your finances, do you use it for personal and investment? Any information would be greatly appreciated.

I personally use my own google sheets for monthly income/expenses however it focuses more on my corporate job that I still work in and my everyday expenses but I have not tied in investment. 

Can provide more info if folks would like!

@Kevin McGuire great feedback! I'm going to look into those, I've never heard of them before but always interesting to see what security and tools are out there. appreciate it!