All Forum Posts by: Eric Taylor

Familiarize yourself with all the mathematical ways to approach prospective deals.  Practice using these formulas daily on properties in your anticipated area.   Welcome

The way I typically view vacation rentals (Beach/Snow) is that you will pay for the mortgage and the expected revenue minus upkeep/ property management will possibly pay the HOA/Taxes/Insurance. Ergo, you have to be sure you are going to make personal use of the property.

It seems fair to say that the more in demand an area is, the less the 2% rule is applicable.  Thus 2% rule is inversely correlated with anticipated appreciation?

Welcome to BP.  Listen to as many podcasts as you can.  Knowledge is power.  Also, do daily calculations on potential properties as they come on the market.  This will help you to know a good deal when you come across one.

How do you find foreclosures in the Boston area?

John. Great point my other properties cash flow very well. This .5 one was a well situated, nicely upgraded 3br and 1 bath in the south end. It rented for 3200/mo after being posted for 1 day. I will increase the rent by 200/mo for at least the next 4 years. Now I net 300 per month but expect to net 700 to 1000 over time. Will keep this one for life.

Originally posted by @Jon Klaus:

Originally posted by @Benjamin Kanevsky:

Originally posted by @Eric Taylor:

The 1% and 2% rules are geographically restrictive.  I buy and hold in Boston where I get .5%, .67%, .8%, and .8%.   

 I'm originally from Boston. They have some of the worst landlord laws in the country. Why would you ever invest there?

 Eric, you're from Mission TX?  It cash flows a lot better than Boston, doesn't it?  Do you invest there, too?  

 Mission is a bit tougher to find a solid rental clientele.  Elevated property taxes make it a bit cumbersome as well.  I like Boston because of the cash flow and also the anticipated appreciation.

We will see Benjamin.  But, I do like it when people plop down 12K to 15K just to initially get into a rental.  

The 1% and 2% rules are geographically restrictive.  I buy and hold in Boston where I get .5%, .67%, .8%, and .8%.   

Continue to live in the condo is your best option.