All Forum Posts by: Vika Bha

Thanks everyone. This would be my primary residence initially so the numbers especially in northeast would not work. I’d be renting it when I move in about 10 years or so. And it truly isn’t for high appreciating or huge cash flow (which may seem like “why do it?”) but more to use as some Income when I retire years from now. 

So even though the community is known to have 2 bedrooms which can easily be converted to 3, it would still be better to buy 3? 

Hi everyone,

I am considering buying a condo in a Boston suburb which I plan to rent out after I move out in a few years. I am wondering which would be the best option for long term renters

Just a little info about the condo. They do allow renting, and they are all 2 or 3 bedrooms. Most people who live there buy a 2 bedroom because the 2 bedrooms come with an office room and loft. People convert these into 3 bedrooms and this is known by almost everyone in the town and local realtors.
So, which would be the best rental? The three bedroom or the two bedroom? The two bedroom has a loft and an extra den which is large and can be another bedroom. They all have basements. 
thank you for your help

@Nabeel Syed, I also initally considered turkey but decided not to do it. PM if you want to know my reasons. I personally don't think it is bad, especially if you work a lot, want minimal hassle, as long as you find a solid company. But I agree with @Michael Ehmann, you learn a lot more if you don't. Also, I looked around and most of the people I knew who were successful in real estate were not doing turnkey, granted it is somewhat of a newer concept. Good luck

Hi Nabeel, 

I don't do turnkey but a couple people I spoke to say good things about FS Houses. Good luck

@Yonah Weiss, thanks!

Looks like tax reform will likely pass. Any thoughts on how all this affects investors? Specifically deductions? For residential, non commercial investors?

@Derrick E., do you contact the sellers agent, see the property and then if you decide to buy it, purely use your agent to present an offer? Or do you write your own offer letter and then only if it accepted, then contact your buyer's agent to step in?

@Dave Passey, do you write your own offers and then have your agent step in once the offer is accepted. I like this idea as it doesn't waste too much of my agent's time and I'd be able to obtain properties at a discount. Win win for both.

I do like my agent, does a great job but I guess I just need to be more aggressive in trying to see properties earlier. Thanks everyone

@Daniel F. Harb, thanks for the encouragement. From the advice of all of you and a couple of investor family friends I have spoken to, it seems it is the norm to make lower offers. In fact, investors I have spoken to so far that have told me they made a market rate offer just once or twice. 

@Greg Hamer, I do have a particular criteria and I will make an offer based on the criteria. I was even willing to make a full price offer recently because the price was already so low but the property got sold already.

Thanks everyone. All of you have great advice. I'll do this next time.